Waves Platform and The Abyss to Jointly Launch Blockchain-Based Games Marketplace (#GotBitcoin?)
Open source blockchain platform Waves and blockchain game distribution platform The Abyss will jointly launch a blockchain-based marketplace of digital goods and in-game items. Waves Platform and The Abyss to Jointly Launch Blockchain-Based Games Marketplace (#GotBitcoin?)
In a blog post published on Sept. 5, The Abyss revealed its collaboration with the Waves Platform, aimed at the development of a blockchain-powered marketplace of tradable goods and in-game items. The marketplace will enable users to purchase items with Abyss Tokens and sell them to other users.
Waves Blockchain-Integrated Tokens
The integration of Abyss Tokens with Waves blockchain will allow game developers to incorporate Abyss Token operations directly into their Waves-based games. Commenting on the development, Sasha Ivanov, founder and CEO of Waves Platform, said:
“We recognize the huge potential of the $100+ billion gaming sector as a major use case for blockchain which perfectly fits with current gameplay mechanics and trading of goods. We strongly believe that the gaming industry will be an enthusiastic adopter of blockchain, and partnership with The Abyss will drive its widespread use.”
This spring, The Abyss announced a partnership with Epic Games to allow developers on the platform access to the Unreal Developers Network. At the time, a The Abyss spokesperson commented on the partnership in an email sent to Cointelegraph:
“The program is aimed at attracting more gaming studios and titles to The Abyss platform, as well as supporting Unreal Engine developers in cryptocurrency adoption. More specifically, they will be able to accept ABYSS tokens both for game and in-game purchases in legal and easy-to-use way.”
In late June, Waves introduced an upgrade to its blockchain that enables decentralized applications on the platform, which will purportedly enable developers to perform calculations necessary for use cases on the Waves blockchain.
Real-Time Strategy Game For Mining ‘Crypto Gold’ Launches On WAX
The online real-time economic strategy game, Prospectors, will be launching on the Worldwide Asset eXchange (WAX).
Prospectors Blockchain Game Lands On WAX
In a Sept. 17 blog post, WAX announced that one of the largest dApps in the world, The Prospectors, is launching on the WAX blockchain, on which users buy physical and virtual items using WAX tokens.
This blockchain-based decentralized strategy game set during the 19th-century gold rush launched on EOS in late June 2019. Notably, the game’s designers plan for it to become fully autonomous over time.
Arielle Brechisci, Content Manager at WAX said that the game will launch on the WAX blockchain within the next few weeks, so that WAX Token holders and millions of OPSkins Marketplace customers can start playing the game, adding:
“The exciting game of strategy gives players endless opportunities to earn crypto gold by utilizing blockchain technology, where they can start a business and explore a world teeming with resources there for the taking.”
WAX Summoned To California Court Over 2017 ICO
Cointelegraph reported in August that the United States District Court for the Central District of California issued a summons to video game virtual goods company OPSkins Group and WAX in response to a complaint filed by Crypto Asset Fund.
The complaint included 12 charges — including fraud, unlawful business practices and violation of the Securities Acts of 1933 and 1934. In particular, these concerned the accused’s initial coin offering of WAX tokens.
Largest Tencent Shareholder Leads $15M Round In Blockchain Game Developer
Naspers, the largest shareholder of Chinese Internet giant Tencent, participated in a $15 million investment in blockchain game developer Immutable.
Immutable, a Sydney-based blockchain gaming startup, completed a new funding round led by Naspers and Mike Novogratz’s crypto investment bank Galaxy Digital, the company announced in a blog post on Sept. 23.
As reported by the Australian Financial Review (AFR), other investors also included Sydney-based VC firm Reinventure and American private investment firm Apex Capital.
Scaling From 13,000 To 1 Million Gamers Projected
According to the report, Immutable’s flagship game Gods Unchained has made over $4.5 million in revenue in just over a year, despite it is being played by a closed group of 13,000 gamers.
Founded by brothers Robbie and James Ferguson in July 2018, Immutable reportedly expects to grow Gods Unchained from the current 13,000 to 1 million players with the new investment, James stated in an interview with AFR.
Based on the Ethereum blockchain, Gods Unchained is a trading card game that has reportedly overtaken other popular TCGs such as Artifact, Faeria and Kards, Immutable stated. In February 2019, Gods Unchained’s unique digital card Hyperion became the world’s second most expensive card ever sold after selling for137.8 Ether (ETH), or $62,000 at the time of auction.
On Sept. 17, the Worldwide Asset eXchange (WAX) announced that one of the largest decentralized apps in the world, online real-time economic strategy game Prospectors, was launching on the WAX blockchain.
Game Makers Expect to Ring in Holidays With Strong Digital Sales
Makers organizing special events inside blockbusters, adding features to keep players engaged.
Videogame companies are planning to lean further on high-margin digital sales this holiday season, as more consumers ditch discs for downloads and publishers find creative ways to generate revenue from their biggest hits long after release.
Activision Blizzard Inc., Take-Two Interactive Software Inc. and Electronic Arts Inc. all raised their end-of-year guidance for revenue and net bookings in recent weeks, citing stronger-than-expected consumer spending. The December quarter, which is typically the largest revenue-generating period for these companies, is expected to show continued demand for digitally delivered content.
Game makers are organizing special events inside their blockbusters and adding new features to keep players engaged. For example, Electronic Arts late last month brought new factions, maps, weapons and vehicles to “Battlefield V,” the most recent installment of the company’s nearly two-decade-old war franchise.
“The holidays will also be a busy season for players in our live services,” Electronic Arts Chief Executive Officer Andrew Wilson said on last week’s earnings call, referring to spending that occurs after a game has launched. “Our communities will all have new content and new experiences to dive into during the holiday quarter.” The company also forecast the holiday quarter to be one of its biggest for net bookings, an important measurement of industry revenue.
While Take-Two expects revenue to fall year over year due to a lighter release slate, it forecast growth in spending inside its videogames. That is because people can spend money on virtual perks in its existing hits such as “Grand Theft Auto Online” and “NBA 2K20” any time.
“The business as a whole is overperforming,” Take-Two CEO Strauss Zelnick said in an interview Thursday.
In the latest quarter, digital sales made up roughly three-quarters of net bookings for Take-Two and Activision Blizzard, both companies said Thursday. Last week, Electronic Arts said more than 60% of net bookings came from digital purchases.
“This is a trend we’ve seen happening for the last several years,” Stephens analyst Jeff Cohen said. “It’s having a positive impact on margins.”
Investors also want to see these companies boost margins. Share-price growth in all three companies has lagged behind the broader Nasdaq Composite Index this year, in part because analysts have raised concerns about their ability to lift profits.
This year, the major publishers are again serving up just a handful of mostly sequels and spinoffs for the holidays, continuing a decadeslong pattern that analysts attribute to rising development costs. They say publishers are investing in more advanced technology and talent to create beefier and higher-quality games.
With tentpole games now commanding budgets of around $100 million or more, up from single-digit millions in the 1980s, analysts say big publishers view original properties as a major risk, just like in sequel-heavy Hollywood for movies. “Franchises have built-in audiences with proven customer loyalty,” said Jefferies analyst Alexander Giaimo. “They’re a much safer play.”
For those big-budget holiday releases, Take-Two introduced a sequel to its decade-old Borderlands franchise in September while Activision Blizzard put out a new installment of its 16-year-old Call of Duty franchise last month. Next week, Electronic Arts is expected to launch its latest Star Wars-themed game, a franchise that has already been licensed for dozens of games over the last four decades.
The major game publishers are also pursuing opportunities to boost revenue through new channels, such as Stadia, a cloud-gaming platform launching later this month from Alphabet Inc. ’s Google.
Electronic Arts also said last week it is growing its digital subscription business. The company ended the quarter with about 5 million subscribers on EA Access, a service that allows people to play a collection of games through Microsoft Corp. ’s Xbox One and Sony Corp. ’s PlayStation 4, up from 3.5 million in July. The service is also expected to launch on the popular game-download store Steam in the spring, Electronic Arts said.
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