Axie Infinity maker builds web3 game empire

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1/ Sky Mavis signs deals with Directive Games, Bali Games, Tribes, and Bowled to build web3 games

Game developer Sky Mavis, the studio behind the wildly successful Axie Infinity, may be giving Polygon and Ava Labs a run for their money as it builds its own web3 gaming empire on its Ronin blockchain.

Besides expanding beyond its popular flagship title, Sky Mavis is growing the Ronin ecosystem through collaborations with game studios Directive Games, Bali Games, Tribes Studio, and Bowled.io. Each of these studios is now crafting its own games on the Ronin network.

The game maker is in it for the long haul: In its announcement at Game Developers’ Conference (GDC), Sky Mavis touts “multiple strong IPs” and awesome gaming experiences to “supercharge” the Axie world and IP base in the long term.

Last week marked the 1st anniversary of the Ronin network hack, when the blockchain was exploited for a record-breaking $625M. Sky Mavis co-founder Jeff Zirlin calls it a “badge of honor,” showing how the firm is still around and building further. Some key numbers:

• Breakout P2E web3 game Axie Infinity has earned $1.3B in revenue since launching in 2018.

• The game had 400,000 active users in the last 30 days, versus 3M users in its 2022 peak.

• Anyone with a minimum of Ronin token 250K RON can become a validator and take part in block production.

2/ Web3-native messaging system Nansen Connect aims to replace Discord

With aims of competing head to head to Discord, particularly in the arena of security, Nansen Connect launches its beta version, open to members of blue-chip NFT communities.

How Nansen Connect works:

• It utilizes blockchain wallet addresses as a form of identity. Think of the wallet labeling services as a game: A wallet reveals certain qualities about the person. Advanced users can pick and choose what they show the world with integrations of ENS addresses.

• Users can interact between groups and individuals while harnessing wallet integration for security and verification.

• Users can log in with their crypto wallet, create a username, join groups according to their crypto and NFT holdings, send DMs with end-to-end encryption, monitor digital asset collections, and more.

3/ AI program Midjourney halts free access due to overwhelming deepfakes

Midjourney's CEO David Holz decides to hit the pause button on the free trial service due to concerns around users abusing the AI technology to create deepfakes of everyone from Donald Trump to Pope Francis. While most of these were proven to be fake news, the fear remains that this technology could be used to further spread misinformation.

This weekend, Italy also issues an immediate ban on OpenAI's ChatGPT, citing alleged privacy violations. ChatGPT had "suffered a data breach on March 20 concerning users' conversations and payment information of subscribers to the paid service,” according to the Italian National Authority for Personal Data Protection.

Still on ethical concerns around AI, UNESCO's Director-General Audrey Azoulay has declared that AI's lack of ethical guidelines as "the challenge of our time." Back in November 2021, its member-states endorsed UNESCO's Recommendation on the Ethics of AI, setting the stage for strong ethical regulations in the field.

4/ What happened to enterprise ambitions in the metaverse? 

As corporate giants like Meta and Disney park their metaverse ambitions while generative AI steals the spotlight, business experts wonder: Are we looking at a hype-cooling metaverse winter, with stark criticisms that the technology doesn’t really exist yet?

Vendors are said to be backtracking on their commitments, with the likes of AltspaceVR, a VR platform acquired by Microsoft in 2017, getting shut down. Scalable use cases, too, are thought to require years to be developed.

Yet while surrounding tech such as VR and AR may have lost some of their initial hype, other immersive technologies powered by AI are still on the rise. Investors seem to agree, with three-quarters of them planning to maintain or increase their investments in metaverse-related technologies over the next five years.

Generative AI may be winning the battle for practicality, but the metaverse is still a contender in the long game.

🏃‍♂️ Quick Hits

🎮 Gaming

• Undeads metaverse marries AAA visuals with rich in-game economy to win over traditional gamers. (Link)

• Gamers spend time and $$$ in metaverse-like gaming, mostly headgear not required. Hyper focus should be on this, proponents say amid souring metaverse plans. (Link)

• Shrapnel, a first-person shooter in web3, stuns with its graphics and immersive gameplay. (Link)

• It seems like Epic Games’ ploy to capitalize on Roblox's explosive success with user-generated content. (Link)

• No longer just about fun: why web3 gaming is the new hype for serious gamers. (Link)

• Saudi prince: global esports sector could be more inclusive, especially for women. (Link)

🕶 Fashion

• Aeropostale files new trademark to enter NFTs and the metaverse. (Link)

• MFW 2023 events are spread across Decentraland: Genesis Plaza, Dragon City, Fashion Street, District X, and Metatokyo. (Link)

• Which fashion brands are stepping into the metaverse anew? (Link)

• “Our biggest learning from last year’s [MFW] was that ephemeral 2-10 min fashion shows that we might expect at Paris or London fashion week don’t have the same gravitas in the metaverse.” - Cash Labs (Link)

• Digital fashion house MNTGE is making strides in the metaverse. (Link)

• How his 1st Skateboarder magazine copy taught a future HK metaverse fashion CEO “persistence, creativity and resourcefulness” in life and business. (Link)

• F7 Apparel is Nigeria’s 1st luxury brand to offer digital fashion services and products in the metaverse. (Link)

🏀 Sports

• Raven GTR is a metaverse roadster, but has something inside that could turn very real. (Link)

• NASCAR worked with Dubit and Badimo for Speed Hub, comprising a time trial racing game that metaverse users can play. (Link)

• Manchester City Football Club is building the world's first metaverse football stadium with a little help from Sony VR experts. (Link)

• Sorare insiders spill the tea on the platform's future plans. (Link)

• Maybe web3 isn’t dead as ad agencies engaged with sports clients play with new data-generating models. (Link)

• The whistle has blown on Series 2 of NFL ALL DAY's football collectibles, with 20 final Moments set to be minted before the platform moves onto new plays. (Link)

• Cryptoon Goonz and Reignmakers collaborate on $100k worth of prizes. (Link)

🎥 Media & Entertainment

• Care Bears enters NFTs and the metaverse - what’s in store for the well-loved IP? (Link)

• A group of state CIOs are starting to consider metaverse technology as AR and VR experiences rise. (Link)

• Watch Fatboy Slim at the free VR concert Eat Sleep VR Repeat. (Link)

• More mainstream than previously thought? 20% of people have entered the metaverse, says new Kantar data. (Link)

• Watch Fatboy Slim at the free VR concert Eat Sleep VR Repeat. (Link)

• Amid metaverse bid, Korean entertainment powerhouse Kakao sharpens focus on AI and healthcare “for mid to long-term sustainable growth.” (Link)

• Switzerland hosts Metafest 2023 this April in the blissful Alpine resort of Crans-Montana. (Link)

• What’s inside Gemie Metaverse and its promise to revolutionize fan and celebrity interactions? (Link)

🖼 Art

• Tyler Hobbs' QQL collection, popular for its NFTs, is now on display at NY’s contemporary art gallery Pace. (Link)

• Web3 domain provider Unstoppable Domains launches AI-generated avatars. (Link)

• Freeport, a blockchain-based platform for investing in fine art, offers an exclusive four-piece print collection by Andy Warhol. (Link)

• Argentinian airline Flybondi incorporates web3 into its ticketing process by issuing NFT e-tickets. (Link)

• Art Blocks CEO Erick “Snowfro” Calderon on their new secondary marketplace: “We are here to support the artists and the artists’ practices.” (Link)

• Indonesia is exploring the use of NFTs to safeguard the country's cultural heritage. (Link)

🤖 AI

• AI models “simply recombine and duplicate data on which they have been trained,” lacking consciousness or “the essence of life.” (Link)

• Can’t tell a fake from the real? Here’s how to spot AI-generated images. (Link)

• AI, despite being a toddler in the tech world, finds a cozy spot in the crypto playground. (Link)

• 6 obstacles to conquer to ensure AI is used ethically and fairly. (Link)

• Are AI and computer vision like two peas in a pod or two distinct entities? (Link)

• The Perfect Wife, Every Line of You, and more: These 8 novels feature AI. (Link)

• “AI makes the metaverse safer and more inclusive”: The Sandbox co-founder Sebastien Borget. (Link)

💸 Funding & Partnerships

• Sumitomo Mitsui Financial Group, Inc. (SMFG) ventures into the metaverse via managing in-game payment systems and new revenue streams, as spearheaded by TBT Lab Inc’s Hajime Tabata, a key contributor to the acclaimed “Final Fantasy” series. (Link)

• Sports metaverse LootMogul opens up to crowdfunding on the Republic platform. (Link)

• Hong Kong-based fund ProDigital Future looks to secure $100M in financing to invest in web3 startups. (Link)

• XOOCITY, the world's first metaverse in Hong Kong, has been awarded the Most Innovative Enterprise Award. (Link)

• OneMeta AI and BizzTech have joined forces to launch the world's first multilingual metaverse. (Link)

• TeamBDS, Rocket League world champions, collaborates with Xborg to create web3-based initiatives for fans. (Link)

• Jamaica-based company Youth Can Do I.T. (YCDI) has been awarded a $10K grant to support metaverse development. (Link)

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All content on this newsletter is for informational purposes only and does not aim to serve as or replace expert investment advice.

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