Tag: blockchain gaming

Adidas and Stepn Grant Limited Genesis NFT Sneakers to Web3 Customers via Mooar Marketplace

Adidas has entered into a partnership with Stepn, a Solana-based move-to-earn application, to offer generative NFTs to users. As a product of this partnership, a new NFT collection featuring Adidas sneakers was launched on Wednesday. For Adidas, creating digital avatars of their popular sneakers as NFTs is a way of connecting with the newer and emerging generation of consumers.

Called the Stepn x Adidas Genesis Sneakers series, this NFT collection has been made available on Mooar — a marketplace associated with Stepn. The collection offers 1,000 NFTs inspired by the brand’s designs.

Commenting on the development, Stepn CEO Shiti Manghani said the brand wishes to promote the concept of ‘move-to-earn’ in both, physical and digital worlds. Sneaker-inspired NFTs from Adidas could bring brand loyalists to play ‘move-to-earn’ games, making their digital avatars also wear Adidas shoes. She also noted that customer rewards are now entering a new era.

“Physical and digital – or ‘phygital’ – partnership between the most widely used lifestyle app and a global brand like Adidas underscores how powerful it is when you can move-and-earn in both the virtual and real world simultaneously. It also indicates the direction lifestyle rewards are going towards,” Manghani said in a press statement.

The collection is dropping in a two-stage raffle on Mooar, starting Wednesday. In the first stage, 200 NFTs will be reserved for Stepn’s userbase of five million customers. They can try to bag an NFT by depositing 10,000 tokens of Stepn’s native token, GMT. Those who fail to grab one of these NFTs will get full refunds, according to the company.

Stepn is attempting to gain some awareness and engagement for its GMT tokens, thanks to the partnership. Presently, the GMT token is trading at $0.2312 (roughly Rs. 19.34) as per CoinMarketCap.

In the second stage, Mooar will open a public raffle sale for the other 790 NFT pieces. Winners will be announced every 24 hours between April 18 and April 21. Stepn could also use this as an opportunity to drive customers to Mooar for a week.

Adidas previously partnered with a Web3 artist known as ‘Fewocious’ to be part of its new sneaker collection last year. The shoes from this collection were tied to an NFT redemption pass each of which brought benefits for the holders.

The brand had also announced the launch of its ALTS Dynamic NFT collection in April 2023, as part of expanding its ‘Into The Metaverse’ initiative that it kickstarted in 2021.

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Web3 Gaming Market to Churn Over $614 Billion by 2030, Role Playing Games to Lead Sector: Report

The NFT-backed Web3 gaming ecosystem is showing big promise in the next few years. A recent report by Fortune Business Insights has forecasted that the blockchain gaming market would be churning up to $614 billion (roughly Rs. 51,07,086 crore) in the next seven years leading to 2030. The category of role-playing games (RPGs) is projected to be leading the sector owing to its immersive nature. This estimation bodes well for the future of non-fungible tokens (NFTs), which recently underwent a slump this year.

The Fortune Business Insights report is basically projecting that the blockchain gaming business will grow by 300 percent from its current valuation of $154 billion (roughly Rs. 12,80,944 crore) in the next seven years.

More virtually realistic in appeal than traditional video games, Web3 games allow internal trading of game related NFTs that lets players generate some passive income as well. The data of in-game asset sales have shown growth at the rate of 21.8 percent between 2017 and 2021.

“With the adoption of NFTs in blockchain technologies, gamers can have more ownership and productive making opportunities. This also helps generate economic returns on their time invested in gaming sessions, fuelling the growth of the market. The convergence of blockchain technology and NFTs has led to the evolution of the gaming industry,” the report said.

Interestingly, not Asia but North America currently holds the largest share of the blockchain gaming market. Gaming companies in the US are stitching blockchain with their operations after research showed 50 percent blockchain gamers there owned crypto assets and 80 percent wished to use crypto to process in-game transactions.

The Asia Pacific is not far behind though. Owing to the thriving community of developers and gamers in Japan, China, and South Korea, the APAC region is expected to drive maximum growth for the blockchain gaming industry during the forecasted period. Afterall, over 55 percent of the global gaming community resides in Asia. The continent contributes over $72 billion (roughly Rs. 5,88,229 crore) in annual gaming revenue.

Dapper Labs, Sky Mavis, Animoca Brands, WAX, and Illuvium have been named in the report as key players in the global Web3 gaming market.

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Blockchain Esports Fan Engagement Platform STAN Launches Web3 Community Marketplace in India: Details

STAN, the Bengaluru-based esports fan engagement platform, has announced the launch of a community marketplace on Thursday. The aim of this marketplace is to create a one-stop destination for blockchain gaming fans to trade digital collectibles. These non-fungible tokens, or NFTs, can be traded on the blockchain for free. The community marketplace will provide a liquidity solution to STAN asset holders, according to the platform. The blockchain-based fan engagement service will provide insights that will allow NFT traders to study and analyse what trades will be more profitable than others.

In order to drive the trend of trading digital collectibles, STAN says that it allows free trading of digital collectibles such as NFTs, even for on-chain transfers.

Free Fire creators in India such as PVS Gaming, Rocky and RDX, Madhu Pennem Gaming, Assassins Army, Black Flag Army, Gaming with Laila, TSG Legend, and Non-Stop Army have been roped-in by STAN as exclusive partners. They will introduce NFTs related to their games for the new marketplace.

The platform is looking to expand the growth avenues for the ‘Web3 x Influencer’ economy in India.

“We can’t wait to see the esports community in India thrive through our platform. At Community Marketplace, fans will be able to list their collectibles through fixed price sales or an auction effortlessly without paying any kind of trading fee to STAN. As far as the trade is concerned, it will be executed automatically once the price requirements or other conditions of trade are met,” STAN Co-Founder and Product Chief Shubham Gupta said in a prepared statement.

STAN estimates that the number of online gaming users in India could grow by almost 50 percent from 481 million in 2022 to over 657 million by 2025.

Back in October 2022, STAN announced the roll out of its official NFT and limited digital collectibles (LDC) series.

In May last year, the platform managed to secure equity funding of $2.5 million (roughly Rs. 20 crore) in a funding round. Super angel investors such as Aadil Mamujee from OpenSea and Nakul Gupta from Coinbase participated in this seed round at the time.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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GameStop’s NFT Marketplace Goes Live With More Features on Immutable X After Beta Phase Run

US-based video game company GameStop has officially launched its non-fungible token (NFT) marketplace on Immutable X and will now support NFTs minted via the Ethereum layer 2 scaling solution. According to the company’s announcement on Monday, the GameStop NFT marketplace will “unlock access to Web3 games and millions of world-class, NFT gaming assets to tens of millions of GameStop players and GameStop Powerup Pro loyalty customers across the United States.” Its launch follows a joint fund of $100 million (roughly Rs. 826 crore) between GameStop and Immutable X in February 2022.

GameStop first announced the NFT marketplace in February, but it dropped several hints about the same in 2021 as well. The marketplace has been operating in a public beta phase since July, and after three months of testing, it is now live.

Since February, GameStop and Immutable X have embarked upon various journeys, including debuting a $100 million (roughly Rs. 826 crore) grant fund meant “to drive new game pitches, signings and integrations from builders and creators powering the future of NFTs and Web3 gaming,” as per a statement.

Recently, the integration of Immutable X into the GameStop wallet was also announced which granted the users the ability to manage their funds and digital assets under one roof easily.

“Our partnership with GameStop is an important step forward as Immutable brings the next billion players to Web3 gaming. Today’s launch of the GameStop NFT Marketplace means that we can now provide access to millions of additional NFTs, more of the top Web3 games being developed today, while maintaining a best-in-class experience for players,” said Robbie Ferguson, President and co-founder of Immutable X.

As reported earlier, GameStop added NFT trading cards in the virtual trading card game “Gods Unchained” under its PowerUp Rewards Pro program. The members of the loyalty program were given unique codes which were then used to redeem expansion packs in the game.

In a statement provided to CoinDesk, Jonathan Reedy, vice president of strategic partnerships at ImmutableX, revealed that down the line, the firm aims to onboard new Web3 gamers with the introduction of in-person and virtual gameplay along with educational material.

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Blankos Block Party Becomes First Web3 Title to Be Listed on Epic Games Store

Video game development giant Epic Games, famous for the popular title ‘Fortnite’, has unveiled its first NFT game on the platform titled ‘Blankos Block Party’ powered by Mythical Games. Mythical Games first unleashed Blankos Block Party roughly two years ago with an open beta, and it has since claimed that over one million players have engaged with the title. The title features a set of collectible digital vinyl toys called ‘Blankos’. These Blankos are non-fungible tokens that can be purchased, upgraded, appraised, and sold in the game ecosystem.

While Blankos Block Party is a blockchain game with NFTs that represent avatar designs and accessories that can be bought and sold on the game’s marketplace, Mythical Games isn’t putting the focus on blockchain aspect of the game but rather on its fun factor and ownership economy.

“We’re not beating our chests and saying this is a Web3 game and this is on the blockchain. We’re unique that way. You don’t need to know what a wallet is. You don’t need to know what cryptocurrency is, you can literally just play it,” Mythical Games CEO John Linden told VentureBeat.

The development arrives just days after Gala Games previously announced that its Western-themed shooter Grit would be the first Web3 game on the platform, however, at the time of writing, that title is yet to be available on the Epic Games store.

According to a DappRadar report in April, blockchain gaming activity grew 2,000 percent in Q1 over the previous year. But it still faces challenges when it comes to mass adoption.

Part of that comes from the reluctance of storefronts to host Web3 games. While Epic’s CEO Tim Sweeney has said he is open to Web3 gaming, competitor Valve banned games last year that use blockchain technology on its distribution platform Steam.



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