October Web3 Gaming Industry Faces User Acquisition Challenges Despite Market Cap Growth

Amazon Prime Gaming is currently offering a variety of NFTs for free.<br>The number of NFT games under Amazon Prime Gaming continues to increase, and recently the PvP card game "Brawlers" on WAX and the auto-battler game "Mojo Melee" on Polygon announced their collaboration with Amazon Prime Gaming.<br>Previously reported in March, Amazon's own NFT marketplace "Amazon Digital Marketplace" may soon be released, but currently NFT-related services are available through "Prime Gaming".

Animoca Brands co-founder Yat Siu said that the market's enthusiasm for the expected launch of a Bitcoin spot ETF has not only pushed up the price of Bitcoin, but also reignited people's enthusiasm for blockchain games. Yat Siu said: "Token value is a way to build confidence in users and utility. This is not just about making money, but also about feeling confident about what you own." Yat Siu explained that measuring the growth and confidence of the GameFi sector can be done by closely monitoring on-chain activities. In addition, Yat Siu believes that if a spot Bitcoin ETF product is approved, it will have incredible benefits for the entire industry, increase the legitimacy of the industry, and attract a large amount of new investment from traditional financial institutions.

On November 3, The Sandbox officially announced that it will launch its Game Maker Fund with 100 million SAND coins in 2024. The fund aims to support initiatives from game and digital experience designers within The Sandbox's metaverse, and achieve this goal by funding and releasing their projects.

Immutable has announced that three upcoming blockchain games, GensoKishi Online, Cursed Stone, and Sailwars, will be deployed on the gaming-centric Ethereum scaling network, Immutable zkEVM, which is built using Polygon's zkEVM technology and is fully compatible with the Ethereum Virtual Machine. The scaling network will allow the games to handle larger volumes of transactions with lower costs than Ethereum's mainnet. GensoKishi Online, developed by Metap, is a "metaverse-native reincarnation" of the popular Elemental Knights Online game, while Cursed Stone is a 3D open-world MMORPG that will allow players to own and trade dynamic NFT assets. Sailwars is a Web3 game inspired by naval skirmishes and fantasy epics. Other games being built on Immutable zkEVM include Shardbound, MetalCore, and Space Nation.

Web3 gaming platform MOBOX announced that it will use $7 million in treasury funds to launch a new token buyback and burn plan, starting with a $1 million buyback in this phase. <br>

Algorand Ventures has announced an investment in the game Fracctal Monsters, with the amount undisclosed. In Fracctal Monsters, players have the opportunity to breed, battle, explore, train, and evolve virtual pets. With this investment, the team plans to continue creating immersive online pVp experiences, developing a Steam version of the game, and expanding beyond the digital realm.

According to the DappRadar report, the two games with the highest sales in the third quarter soared this week. After releasing a new batch of tradable cards, Axie Infinity's sales increased by 143%, while Gods Unchained's sales increased by 27%.

Moonveil Entertainment, a Web3 game studio based in the Cayman Islands, announced the completion of a $5.4 million seed round of financing, led by Gumi Cryptos Capital and Arcane Group, with participation from Longhash, IOSG, and Infinity Ventures Crypto. Moonveil's leadership team is composed of industry veterans who have worked for Riot Games and Tencent, and they are currently developing an immersive tower defense mobile game called Astrark and a multiplayer strategy game called Project B, which will incorporate NFT elements.

On October 27th, according to official sources, Web3 game studio Moonveil Entertainment has completed a $5.4 million seed round of financing, led by Gumi Cryptos Capital and Arcane Group, with participation from multiple Web3 funds and game industry funds such as Longhash, IOSG, and Infinity Venture Crypto. It is reported that Moonveil Entertainment's team members are composed of core management and production teams from well-known game enterprises such as Riot Games, Tencent, and NetEase, as well as senior Web3 developers. The projects that Moonveil Entertainment is currently developing include Astrark and Project B.