Crypto Gaming Predictions for 2024

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The Blends Briefs
TL’DR: Here’s a sneak peek into today’s newsletter

• Crypto Gaming Predictions for 2024

• Trump sold $2.4 million worth of ETH

• Worldcoin launches in Singapore

• New Chinese $10 Billion Web3 Fund

• Dictionomics: WETH

Global Biscuits

Crypto Gaming Predictions for 2024.

Industry leaders in the crypto gaming space express optimism about the future of blockchain gaming in 2024. Key predictions include:

1. Success of Web3 Games: Three Web3 games released in 2024 are expected to be successful and popular enough for larger traditional game studios to take notice, leading to increased investment and development in Web3 games.

2. Release of Compelling Games: 2024 is anticipated to be a year when many blockchain games will finally be released, focusing on optimizing the gaming experience for fun. The industry is expected to see more innovative and immersive games in the coming year.

3. Global Growth, Especially in Asia: Blockchain-based games are predicted to see continued growth, particularly in countries in Asia. The technology is becoming smoother, making gameplay more immersive and interesting for users.

4. User Experience Focus: Crypto game developers are expected to prioritize user experience and work on making games more fun, easy to use, and with compelling storylines. Efforts will be made to de-jargonize terminology to appeal to both crypto-native and non-crypto users.

5. Generative AI Improvements: The use of generative AI is expected to improve games, allowing for more customization based on player choices, enhancing the overall gaming experience.

6. Increased Adoption of Web3 Gaming: Web3 gaming is anticipated to see increased adoption in 2024, with broader-scale creators and viewers contributing to an expanded player base. Content creators' influence in showcasing and streaming games is considered crucial for driving interest.

7. Entrance of Web2 Players: There is a possibility of more Web2 players entering blockchain gaming in 2024, either through established games embracing crypto technology or by native IP and games making the switch to Web3 infrastructure layers.

8. Evolution of Fully On-Chain Games: Fully on-chain games are expected to evolve, leaning toward open-world games where players can create their rules, resembling autonomous worlds similar to Minecraft.

9. Competition in Web3 Gaming Space: Greater competition within the Web3 gaming space is anticipated, with continued improvements to fully on-chain gaming infrastructure. However, fully on-chain games may face challenges in meeting the expectations set by existing traditional games.

10. Dominance of Blockchain Gaming in Wallet Activity: Blockchain gaming is predicted to account for a dominant percentage of wallet activity, exceeding its current range of approximately 30-40% of all decentralized app (dapp) transactions.

11. Support for User-Generated Content and Mods: More game developers are expected to support user-generated content and mods, enabling community-made game content. Games emphasizing community involvement, such as Deadrop and Shrapnel, have set the trend.

12. Launch of Real Games Despite Funding Challenges: Despite a significant decline in funding rounds in 2023, it is expected that a few great games will still launch in 2024, showcasing the resilience of the industry.

13. Distribution Challenges: The distribution challenge for crypto games is highlighted, especially on third-party platforms. Web3-native game launchers are suggested as potential solutions to overcome distribution hurdles.

14. Importance of Appealing Games: The appeal of a game to players is considered crucial for success, and if a blockchain game is attractive enough, it is expected to find an audience despite potential restrictions and challenges.

Overall, industry leaders are optimistic about the growth and development of blockchain gaming in the coming year, emphasizing the importance of user experience, fun gameplay, and the potential for innovative and immersive gaming experiences.

Trump sold $2.4 million worth of ETH.
The former president, Donald Trump, has reportedly sold 1,075 Ethereum (ETH) in the last three weeks, totaling $2.4 million. According to blockchain intelligence firm Arkham, Trump converted ETH he had earned as NFT royalties to cash through Coinbase. Despite the recent sales, he still holds various cryptocurrencies, including $1.4 million worth of ETH, $649,000 worth of WETH, $167,000 worth of MAGA coin, $340 worth of Pepecoin, and $145 worth of JESUS, among others. Trump's recent move comes after a series of unsuccessful attempts to launch NFT collections, including a "Mugshot Edition" that received limited interest.

Tastes of the regions

Worldcoin launches in Singapore.
Worldcoin has launched its identity verification services in Singapore, allowing residents to use iris-scanning orbs at five locations in the country. The move comes after a temporary pause of scans for India residents. The Worldcoin project aims to provide universal basic income by distributing tokens to individuals who verify their identity. The verification process involves using iris scans and is available in multiple countries, but some jurisdictions have raised privacy concerns. Sam Altman, the creator of Worldcoin and CEO of OpenAI, faced controversy in November but was reinstated to his position after colleagues resigned in protest.

New Chinese $10 Billion Web3 Fund
Chinese venture capital firm GBA Capital has pledged $10 billion to establish a Web3 fund. The GBA Capital Web3 Fund will focus on investments in startups operating in virtual reality, the metaverse, and nonfungible tokens. The goal is to transform the Guangdong-Hong Kong-Macao economic area into the world's "meta-asset capital." GBA Capital is backed by China Europe International Financial Group and has strategic partnerships with financial institutions, including the Asia Pacific Investment Bank and China's state-owned National Engineering Laboratory. The fund aims to provide comprehensive support and services to enterprises in the digital economy sector.

Dictionomics:     WETH

WETH is an acronym for Wrapped Ether, which is a token that represents Ether on the Ethereum blockchain. WETH is used to enable transactions with ERC-20 tokens, which are smart contracts that follow a standard interface for exchanging tokens. WETH is created by depositing Ether into a smart contract that locks it up and issues WETH in return. WETH can be converted back to Ether by sending it to the same contract.

MAGA coin is a cryptocurrency that claims to support the political movement of former US president Donald Trump and his supporters. MAGA coin is not affiliated with Trump or his campaign, and its legitimacy and security are questionable. MAGA coin is based on the Litecoin blockchain and has a limited supply of 75 million coins. MAGA coin is traded on a few obscure exchanges and has a very low market value.

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