It’s been an eventful week in the Web3 gaming sphere with Facebook facing mega losses in metaverse investments and a new eSports platform emerging. Facebook’s Meta, the parent company of WhatsApp, Instagram and Facebook itself, has dived deep into virtual realities via its metaverse unit, Reality Labs. With collective losses exceeding $40 billion, some are skeptical about the venture. But for Mark Zuckerberg, Meta’s CEO, this virtual landscape could be the future of the internet. He backs this prediction with the rise of smart glasses and immersive communication, hinting we’ll spend less time on traditional TVs and computers and more in a virtual reality.
The Meta earnings call brought a surge in optimism from investors, who pushed the stock up by 7% despite the losses. Being so heavily involved in virtual tech investments, Zuckerberg aims to cover the Reality Labs loss with increased growth from Meta family’s apps, which has seen a rise of $2 billion. This effort underscores the tight spot Meta has maneuvered itself into. While Zuckerberg believes Smart Glasses will be the future, it remains to be seen if his bet will pay off.
Diversifying the blockchain gaming space, Alchemy: Battle for Ankhos is the new text-based role-playing game integrating cryptocurrencies and AI. While it’s not an entirely fresh concept, the addition of crypto and AI are predicted to enhance the gaming experience significantly. Alchemy: Battle for Ankhos will function on Discord, creating a host environment for fantasy world battles.
On the eSports front, a revolution is brewing with the advent of Web3. The industry that amassed a global audience of half a billion people in 2022 is expected to generate $1.87 billion in revenue by 2025. Catching the trend, Ultra, a crypto gaming startup, announced its own tournament platform built on its blockchain network. Dubbed Ultra Arena, the platform will allow players and brands to organize leagues and tournaments, with non-fungible tokens and platform tokens as prizes.
Meanwhile, an old player in the web3 gaming world, Gods Unchained, found itself spotlighted following its release on the Epic Games Store. Combining traditional card game format with web3 elements, the game introduced tradeable NFTs, marking it as unique in the genre. However, user experience gripes like bugs in the tutorial missions bespeak an urgent need for fixing ahead of its mobile release.
On a significant scale, these events reflect the dynamic landscape of cryptocurrency and its integration into our global system, with success stories and setbacks on equal footing. Crypto integration into gaming, eSports platforms, and software giants like Facebook is not without challenges. Nonetheless, the perseverance shown by these entities in evolving the crypto world underscores the important role this technology will play in our future.
Source: Cointelegraph
