Crypto Gaming Weekly Recap: Stay on Top of the Ever-Changing Crypto Gaming Space with Decrypt's GG
Cryptocurrency Weekly Update: GameStop Acquires Bitcoin, More Ethereum-Based Games Shut Down Operations
Welcome to the latest edition of our crypto gaming roundup! Dive straight into the biggest crypto gaming happenings of the week, plus catch up on the other juicy little news morsels you may have missed.
Top Trending Stories
GameStop Jumps into the Crypto Arena with a Massive BTC Purchase
The beloved video game retailer, famous for its meme stock status, announced a whopping 4,710 Bitcoin purchase on Wednesday, worth an impressive $512 million. These fresh BTC coins will contribute towards GameStop's corporate Bitcoin treasury, making them the latest addition to the growing list of companies embracing Strategy's Bitcoin-focused approach.
Though GameStop's CEO remained tight-lipped about future Bitcoin acquisition strategies, Bitcoin is seen as a sensible hedge against currency devaluation and potential systemic risks by Ryan Cohen, GameStop's CEO. The company joins other prominent public companies, such as Tesla and crypto mining firms, that already hold billions in Bitcoin.
However, GME shares plummeted by 11% after the announcement, continuing to slide in Thursday trading, and ending the week down almost 3%, falling below a price of $30.
Ethereum-Based Games Bid Adieu: Realms of Alurya and Wonder Wars Go Offline
The crypto gaming landscape has taken a hit, as two Ethereum-based games — Realms of Alurya and Wonder Wars, part of the Ronin network — have closed their doors due to funding difficulties. This dynamic duplicate duo highlights broader struggles faced by crypto gaming projects.
Years of strategic missteps and a heavy reliance on publishers culminated in the abrupt termination of Realms of Alurya's exclusive contract and funding support, as Treasure, the game's publisher, recently restructured and pivoted its focus towards AI.
Wonder Wars, another casualty, admitted their misstep in relying excessively on Hi-Rez Studios, their publisher. In a bid to save face and regain player trust, the team voluntarily ceased development and decided against launching their utility token due to the uncertain speculative nature of the venture.
Unfortunately, the closure of these games doesn't seem to be an isolated incident, as numerous other crypto-based projects have recently closed due to funding struggles, lack of players, and other hurdles.
In Case You Missed It (ICYMI)
- The sale of the Moonbirds IP by Bored Ape Yacht Club maker Yuga Labs to Orange Cap Games set the stage for their next project: developing an Abstract-based trading card game, aptly named Vibes.
- Planet Mojo announced the closure of their NFT auto-battler game, Mojo Melee, effective July 1 as the studio turns its attention towards AI.
- Get a sneak peek at FIFA Rivals gameplay ahead of the anticipated NFT mobile game rollout this summer.
- Solana meme coin bonk is counting down to its upcoming game launch on June 1, developed by BR1 creator Bravo Ready Games.
- Avalanche-based hero shooter BloodLoop is gearing up for a June launch, after recently surfacing amid the quiet crypto gaming scene.
- Gamified sleep app Sleepagotchi is making its foray into LINE messaging app.
- Treeverse is planning a token launch this month, adding another upcoming game to the crypto gaming lineup.
- Off the Grid kicked off the month with a new Cyberlancer limb, allowing players to drive a knee-mounted spike into their opponents' heads.
- Player-vs-player shooter game Shatterline will convert into a single-player experience.
- Meme coin Floki is preparing for its metaverse game launch on June 30.
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- GameStop, known for its meme stock status, recently purchased 4,710 Bitcoins, worth $512 million, adding to the growing list of companies embracing Bitcoin.
- Two Ethereum-based games, Realms of Alurya and Wonder Wars, have closed due to funding difficulties, reflecting broader struggles faced by crypto gaming projects.
- Realms of Alurya's closure resulted from a terminated exclusive contract and funding support, as Treasure, the game's publisher, restructured and pivoted its focus towards AI.
- Wonder Wars ceased development due to over-reliance on Hi-Rez Studios, their publisher, and concerns about the uncertain speculative nature of their utility token.
- Yuga Labs sold the Moonbirds IP to Orange Cap Games, setting the stage for the development of an Abstract-based trading card game named Vibes.
- Planet Mojo closed NFT auto-battler game Mojo Melee as they shift their focus towards AI, while FIFA Rivals gameplay was previewed ahead of its anticipated summer release.
- Solana meme coin bonk is planning a game launch on June 1, and Avalanche-based hero shooter BloodLoop is gearing up for a June launch.
- Gamified sleep app Sleepagotchi is joining the LINE messaging app, Treeverse is planning a token launch this month, and Off the Grid introduced a new Cyberlancer limb.
- Shatterline, a player-vs-player shooter game, will convert into a single-player experience, and Meme coin Floki is preparing for its metaverse game launch on June 30.
- The crypto gaming landscape continues to evolve, with Web3, metaverse, blockchain, crypto mining, Bitcoin, Ethereum, ico, token, NFT, and finance at the forefront of the ever-changing technology.
