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Web3 Gamer: PUBG devs’ Web3 project, Animoca’s $20M raise, Shardbound review

The company behind PUBG announces a new Web3 platform, monetization in Web3 and more.

PUBG meets Cosmos

Krafton, the company behind PlayerUnknowns Battlegrounds (PUBG), is venturing into Web3 with Settlus, a Cosmos-based blockchain project specifically designed for the creator economy. Settlus aims to provide content creators with a payment platform that streamlines transparent settlement processes.

The South Korean gaming giants project was announced at the Korea Blockchain Weeks Circle Hacker House event, co-presented by Circle and AngelHack. Circle CEO Jeremy Allaire highlighted PUBGs large user base of 30 million monthly active users.

Its pretty exciting when a gaming giant with 30M MAU (@PUBG) announces a new effort to bring a payment and settlement layer using $USDC on @cosmos at the Circle Hacker House Korea. https://t.co/FFyWmgDdBi
— Jeremy Allaire (@jerallaire) September 5, 2023

Cosmos software development kit will serve as the framework, and network gas fees will be payable using stablecoins.

A metaverse project by the name of Migaloo is also in the works. The project will center around user-generated content, allowing creators to automatically create nonfungible tokens of their digital content and earn royalties from platform sales.

Krafton previously announced a collaboration with Solana Labs in March 2022 to support the design and marketing of blockchain-based games and services, but no Web3 products have been released since. Settlus testnet is scheduled to launch in early 2024.

Whos after players wallets: Web3 games or big publishers?

Web3 games may be marketed toward the allure of monetary gain, as most of the demographic is made of investors and financiers who wish to get something in return. Traditional gaming is doing the same. The only difference is that, in Web2 gaming, its the company and its shareholders getting all the revenue instead of the ecosystem. Free-to-play multiplayer online game League of Legends generated $1.75 billion in revenue for Riot Games in 2020 mostly from cosmetic skin sales.

For a free-to-play game, earning money through cosmetics can be understandable. But what about games that charge players the full premium?

Soccer franchise FIFAs Ultimate Team mode, which allows users to buy card packs that contain footballers they can use on their team, brought its publisher, Electronic Arts (EA), $1.62 billion in content revenue in 2021. As one Web3 gaming put it:

we out here buying $5k worth of Ultimate Team packs to pull gold Daniel James but its web3 games that are evil ponzis plagued with greed
— OG (@yoitsOG) September 3, 2023

Gamers recall the backlash Star Wars Battlefront II received when EA Studios locked the most prominent characters of the franchise, including Darth Vader and Luke Skywalker, behind loot boxes.

A comment from Electronic Arts community team regarding the complaints about the situation received more than 680,000 downvotes on Reddit, setting a Guinness World Record for the most downvoted comment of all time.

Most downvoted Reddit comment of all time. (Reddit)

Web3 gaming is nowhere near traditional gaming in terms of the user base. For example, Axie Infinity, one of the most popular Web3 games, reached a daily average of 11,072 users, while Roblox averaged 23,864,489 daily users during April 2023.

There were 2,155 Roblox players for each Axie Infinity player in April 2023. (CoinGecko)

Web3 game developers search for a solution in alternative business models, like play-to-earn, to draw in the masses and bridge the gap with traditional gaming, promising users monetary gains in exchange for their time.

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Traditional gaming and Web3 gaming are not that different. But Web3 gaming receives more hate than it deserves on monetization, primarily due to preconceptions around the cryptocurrency ecosystem.

Traditional games can get away with money-grab decisions because there are a lot of great games balancing the sheets. For Web3 games, the solution to breaking the general prejudice lies in creating better games, not turning the space into a cash counter.

Is $20 million enough to develop an ID system for Web3 gaming?

Animoca Brands raised $20 million in a funding round to accelerate the development of its Mocaverse project. The company was valued at $5 billion last year and has numerous investments in its portfolio, such as NFT marketplace OpenSea and Web3 games such as The Sandbox and Axie Infinity.

We are pleased to announce that we have raised $20M of funding for @MocaverseNFT. The newly acquired capital will be used to advance the Mocaverse project, including product development, facilitating Web3 adoption, and securing partnerships.
For more:https://t.co/SZ93c7AxdV
— Animoca Brands (@animocabrands) September 11, 2023

The funding round was led by CMCC Global and featured familiar names, including Sky Mavis founder Aleksander Larsen and Guild Games founder Gabby Dizon. Animoca Brands co-founder and executive chairman Yat Siu, who also participated in the round, commented on their goal:

The ongoing evolution of the internet involves a shift from hierarchical power structures to autonomous ones, and the DAO-based approach of Mocaverse ensures that its community will be focused on driving innovation and collaboration across the broader Animoca Brands ecosystem.

Mocaverse is preparing to launch its non-transferrable NFT collection called Moca ID as part of the funding round. The collection will enable owners to create their on-chain identities and participate in the Mocaverse.

Holders of Moca ID will have exclusive access to experiences within the project and earn loyalty points with their engagement. These loyalty points will be utilized in a permissionless and interoperable loyalty system that will be progressively decentralized. Will $20 million be enough to develop this ambitious system? With backing from a brand as solid as Animoca, the skys the limit.

Hot take: Shardbound

I was a hardcore League of Legends player back in the day. My only issue with the game back then was the mouse clicks. LoL was only available for PC during the early 2010s, and as a rookie copywriter at my agency, I was not able to play it silently during the office hours.

This is why the announcement of Vainglory, an iOS game sharing the same DNA with established titles like LoL and DOTA, was a big deal for me. I got an iPhone 6, then an iPad, just to be able to play that game silently like an office anarchist.