Gaming Companies Enter The Web3 & NFT Space

As the Web3 space and NFT (Non-Fungible Tokens) technology have grown in popularity, numerous companies from different industries are expressing their interest in joining the Web3 gaming ecosystem. The gaming industry is no exception, as a number of prominent developers and publishers have been entering the DeFi market.

As a matter of fact, GameFi development has steadily risen and now stands at more than 1550 games, according to a report by cryptocurrency exchange Binance. With GameFi, players are able to own digital assets within virtual worlds, and they can also interact with these assets across a variety of virtual worlds. There have been several studio announcements about stepping into the NFT space, with plans to integrate them into triple AAA games.

What are the views of some of the biggest companies regarding Web3 gaming and NFT?

In the first half of 2022, traditional gaming companies started taking concrete steps to enter the Blockchain gaming space. For instance, Square Enix unveiled its NFT initiatives in collaboration with Enjin, a blockchain platform that will store Square Enix’s tokens in its Efinity Blockchain. Initially, the news came through Square Enix’s intention to produce figurines with NFT codes. According to their reports, there will also be real trading cards with a digital NFT element. Enjin confirmed that Square Enix’s IP Final Fantasy VII’s goods would have their own NFTs, available in the form of figures and trading cards.

One major reason has also brought Ubisoft to the forefront: Ubisoft Quartz. Ubisoft boasts one of the longest-lasting gaming franchises in the industry, with titles like Far Cry, Assassins Creed, and Division, among others. Using Ubisoft Quartz, players can obtain NFTs that are called Digits. Digital assets such as these would be playable in triple AAA games. Tom Clancy's Ghost Recon Breakpoint was the first game to incorporate this feature. Konami has entered the NFT space as well, recently unveiling “Art preservation,” a project that, according to Konami's financial report, aims to preserve material that has been cherished by customers over the years.

In other news

Justin Hulog, Riot Games’ previous manager, accepted a position as Chief Studio Officer at Immutable to bolster blockchain gaming initiatives. The blockchain gaming studio Immutable has already released Gods Unchained and is planning to launch Guild of Guardians, an action role-playing game (ARPG).

Other big companies like Nintendo have expressed an interest in this sector and want to get involved. However, there are also many small and new gaming development companies interested in joining the Web3 gaming space.

Up-And-Coming Names

One of these new names is the Digital Insight Games group, a gaming company with a long history — its employees have previously worked for industry leaders, namely Tencent, Electronic Arts, Take-Two Interactive, Ubisoft, and Activision Blizzard.

Earlier this year, they emerged from stealth in an effort to build future-proof virtual economies powered by blockchain, NFTs, and metaverses. Cloud Castles is the debut title from Digital Insight Games. The game is scheduled to be released in 2023 - combining role-playing elements with strategy.

Nowadays, such ventures into the GameFi world are hardly surprising, as a recent report by Binance stated that GameFi offers great potential through the integration of blockchain technology, gamification, monetization, and NFTs, resulting in significant growth for the platform.

Additionally, GameFi is changing the rules of gaming with a brand new player base based on blockchain technology. As a result, there will be more competition among blockchain game developers, leading to more industry innovation. Currently, only the best and most creative can thrive in the industry, as Ajuna has done so far.

Better Experience for Gamers & Development Companies

Ajuna Network provides a decentralized gaming platform that offers real benefits for players without sacrificing gameplay. This enables you to own your digital assets, secure and manage their features, and influence their future updates.

Ajuna Network integrates two of the world's most popular game development engines — Unity and Unreal — seamlessly into the world of blockchain assets. Using it, gamers will be able to take ownership of their in-game assets, sell them on community marketplaces, and use them in new games.

Users can use Ajun, Ajuna’s main token on Polkadot, or Baju, Ajuna’s main token on Kusama, to launch games, pay fees, and access parachain services. Moreover, Ajuna allows games to launch their own tokens.

Since Ajuna games give you total control over your hard-earned, in-game assets, which are traded on decentralized markets, you can play for fun, for money, or for both. The decision is yours. Polkadot’s shared security model protects your in-game assets with more than $15 billion in staked DOT. You are welcome to look at our Ajuna Awesome Avatars and contact us in case you have any questions about the technology we use.