Weekly GameFi Update (Week 20, 20/05/2022 – 26/05/2022)

Square Enix to heavily invest in Web3 gaming after selling Tomb Raider franchise. Sony dives into the Metaverse using the Playstation platform.

Key Takeaways

• In its Q1 earnings report, Square Enix revealed that they plan on heavily investing in Web3 gaming, including implementing NFTs in more of their games and issuance of their own tokens. The gaming giant sold the rights to Tomb Raider, among other titles earlier this month to make way for the sweeping changes. 
• In their latest annual corporate strategy meeting, Sony announced their intention to dive into the metaverse. The electronics giant plans on using the Playstation brand to “create new experiences in the area of the metaverse”.
• a16z has announced a US$600M Web3 gaming fund, named “GAMES FUND ONE”. The initiative will go towards gaming studios and other companies building infrastructure for Web3 titles. 
• The total market cap for GameFi tokens now stands at US$35.47 billion, down -1.48% from last week.

Highlights

• Saga raises US$6.5M seed round to help build dedicated blockchains for gaming and entertainment
• Azra Games raises US$15M for play-and-earn RPG with NFTs
• The Smurfs village to debut in the metaverse after partnering with The Sandbox
• Gap partners with Roblox for metaverse experience
• Pantone partners with Spatial Labs for metaverse wearable hardware product
• Zoom introduces new metaverse meeting feature in beta
• Apple unofficially targeting the metaverse with mixed reality headset
• Soap brand Dove files metaverse patents
• Metaverse social app BUD raises US$36.8M in Series B funding
• World Economic Forum jumps on the metaverse craze with virtual global collaboration village
• Boss Cat Rocket Club builds first all-inclusive metaverse on Cardano
• NFL and Mythical Games to launch ‘play-and-own’ NFT game ‘NFL Rivals’

Game Updates

• Nitro League updates roadmap for its racing metaverse
• Crypto Blades introduces its largest patch to date
• Decentraland is postponing The Wearable fee changes
• Sorare adds scarcity filter
• Shine Fusing goes live on Gods Unchained
• Realms of Ethernity staking goes live

Top Gainers and Losers

Top Games Metrics

Top 15 Largest Tokens by Market Cap

Daily Gamers by Blockchain