We are here again with the weekly gaming news roundup, with a lot of developments happening in the Web3 domain. Earlier this month, we saw the FTX collapse, which has had a considerable impact on the Solana blockchain and many other blockchain gaming projects.
The FTX collapse aftershocks continued this week, where we saw Star Atlas reach a standstill as its funds got stuck in FTX. Moreover, this week also witnessed layoffs in Web3 industry companies, especially in Splinterlands.
However, it's not all bad news; several positive developments are also running in parallel. Several blockchain games have launched their demos, updates, and first releases.
The topics of today;
- Star Atlas intends to return and has begun sales.
- Splinterlands lays off 45% of its employees.
- According to a Deloitte study, the metaverse is a trillion-dollar market.
- Sandbox launches land sales featuring Snoop Dogg, Playboy, and more.
- Last Expedition, a AAA blockchain FPS game, has received updates and more.
Star Atlas, the promising metaverse sci-fi RPG game, apparently finds itself between a rock and a hard place after the FTX drama. FTX was Star Atlas’ primary exchange, and almost half of their total capital is now frozen in FTX. This means that the project will face a considerable lag in its development phase. However, the developers assured the community that the development of the game will continue, as will support for the Solana blockchain.
In order to make up for the lack of funds, Star Atlas plans to launch a series of NFT sales in the coming months. The sale will feature ships, land claims, and claim stakes. Keep you posted on further developments.
It is not auspicious for Splinterlands either, as it laid off 45% of its total staff amid challenging times in the crypto market. However, it is not only about the crypto winter; the ongoing worldwide recession is also playing a role. Tech giants like Twitter, Amazon, and Meta have fired hundreds of employees. Although Splinterlands' decision to lay off employees came after the FTX debacle, it has nothing to do with it. The company made an official announcement to clear the air that they did not have any investments or money in the FTX exchange or other similar high-risk exchanges. Additionally, Splinterlands also made it clear that they do not have any debt or employ leverage. According to the announcement, the decision was solely made to cut costs amid the worsening crypto market.
Splinterlands took the decision proactively so that they could stay on track in terms of their roadmap. Moreover, the company is positive that they are in a much better financial position and will continue to serve the community.
On the contrary, the Web3 domain continues to progress, with research reports reiterating its significance. According to a recent study on Metaverse by Deloitte, Metaverse is a trillion-dollar industry opportunity in Asia. It can add $1.4 trillion to the Asian GDP annually by 2035. The study selected 12 Asian countries to conduct an in-depth look. These countries include China, India, Pakistan, the Philippines, Singapore, Hong Kong, Japan, Indonesia, South Korea, Thailand, Vietnam, and Taiwan.
According to the report, the metaverse could add $US 0.8 trillion to $1.4 trillion per year by 2035. It also adds that the Asian market will take the lead in shaping the metaverse globally. Asia has 60% of the world's youth, and youth are also the primary users of the metaverse. So, this presents Asia with a massive opportunity in the Web3 domain. However, the development direction is still unclear.
Besides the report, metaverse projects continue to show promise and work to develop their respective virtual worlds. The Ethereum Metaverse Sandbox launches its land sale under the name "California Dreamin’." The sale brings on celebrities like Playboy, Tony Hawk, and Snoop Dogg. This means that users have the opportunity to live in the neighborhood with Playboy, the FaZe clan, Snoop Dogg, and Tony Hawk. At the time of writing, registration for the LAND sale raffle is still open.
Finally, Gala Games gave a sneak peek and leak of its upcoming AAA blockchain FPS game, Last Expedition, during a live stream session. Gamers got to know about map blockout updates, character updates, environment updates, and the Operator License Bundle. The fans also got to meet the common character variant of the game, Alice. Moreover, specific details were also added to the weapons in the recent weapon update. The Last Expedition Operator License was also made public, which will help operators run their own customized game servers.
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Until next time.
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