Magic Eden Invested 11 Web3 Game Studios, What's So Special About Them?
Key Points:
Therefore, after completing Series B financing of $130 million at a valuation of $1.6 billion in June last year, Magic Eden immediately used part of the funds for the construction of the Web3 game industry and launched Magic Eden Ventures focusing on Web3 games.
On February 23, Magic Eden announced on its official blog that it has invested in 11 Web3 game studios. These project teams include native Web3 practitioners and developers with traditional game backgrounds.
By establishing partnerships with game studios, Magic Eden can help games launch NFT projects, attract and acquire users, and support game infrastructure through the in-game market. Coincu will briefly introduce these 11 studios and their games in this article. Perhaps one of these “potential stocks” will grow into a hit.
Blockstars is an immersive music-themed management simulation game where players form a band called Blockstars, then create, record, and release singles, package hits into albums, and perform on the streets. If players earn enough money in the early stage, they can also create their own record company, allowing other players to join and cultivate the next generation of Blockstar stars, achieving a brand new game cycle.
In addition to competing with other players on the music leaderboards, gamers have multiple ways to compete, win and earn money. The time-limited event winners of various competitions will be rewarded with ROC, which is issued based on the Solana blockchain.
ROC is used for major game operations such as minting, buying and selling Blockstars and other in-game NFT assets, and participating in governance. There is another in-game utility currency called ROL in the game, which is used for daily basic game operations.
The 3A game BR1: INFINITE is the world’s first risk-based shooting game featuring the “Kill-to-Earn” concept. The main gameplay of this game is close to that of “Battle Royale” games.
After entering the game, players will be scattered on an island with a diameter of 3 kilometers. During the process of advancing to the center of the island, players can obtain weapons, ammunition, and equipment to strengthen themselves. The game has no time limit, and players can only leave it when they confirm their death or survive.
Unlike other games, players must choose “risk mode” before entering the game, that is, different game modes, including free entry-level servers, $0.25 servers, $1 servers, and $5 servers. In paid-for games, players will receive rewards paid in USDC every time they kill another player.
The rewards are divided into two standards; the actual rewards are based on the higher one. The eliminated players will only keep. 85% of the denominated income. If they have 20 USDC when they are eliminated, they will keep. 17 USDC and be kicked out of the game.
BR1: INFINITE was developed by Bravo Ready game studio, which also has another game called Mini Arena. Bravo Ready also provides a range of products and services on the infrastructure side of the Magic Eden business and has licensed the “Kill-to-Earn” IP to the latter, white labeling its games and tools, and developing a marketing strategy.
Bunch is a lightweight digital world built around social chat, featuring connecting with friends, video chatting, and exploring gaming spaces. Backed by game developers including Supercell, Ubisoft and Electronic Arts, Bunch aims to be a place for teens to socialize online. The company plans to introduce blockchain to its mainstream audience through collectibles and facilitate market activity through integrations with partners such as Magic Eden.
Epic League is a GameFi service platform that can link games with NFT markets, communities, guilds, players, and DeFi, and provide players with a unique gaming experience. Its team comprises game practitioners from the world’s top game companies.
Epic League’s first game series, Dark Thron, is a role-playing (RPG) game launched last September. This is a simple action game. The game background is set in a dark fantasy world. Players can tap the screen once to perform continuous attacks to avoid enemy attacks. Tap the screen twice in a row to cancel the prepared attack to avoid enemy attacks.
Dark Throne offers a free-to-play and earns feature, enabling players who have not purchased Totem NFTs to earn rewards while playing. Non-holding players can play games and share the revenue by borrowing NFT pledged by holders in the NFT lending pool.
Dark Throne is currently available on PC and mobile, and players can download it through Steam, App Store, or Google Play. In addition, Epic League will release two games in 2023, “Twilight Fantasy” and “Space Monsters.”
Honeyland is a 3A-level Play-to-Own strategy game built on the Solana blockchain, which is scheduled to be officially launched in April this year. In the game, players manage their bee colonies and land by playing the role of the beekeeper.
They can choose a universe to explore, send their bees to perform tasks, and compete with other players for NFT and scarce HONEY resources. When players earn HONEY and NFTs, they can use them to grow and strengthen their bee colonies, buy more land, participate in the Honeyland economy, or convert them to cryptocurrencies.
Honeyland will launch the game token HONEY (HXD) in March, with a total supply of 1 billion. HONEY can be obtained through in-game activities and can also be purchased or traded through the decentralized exchange (DEX) Raydium.
Players will use it to purchase the most useful items in the game and unique NFTs to strengthen their colonies, perform certain in-game actions such as breeding or fusing bees, and can be used in quests, events, and games.
Additionally, HONEY can be staked to unlock in-game opportunities, allowing players to earn special missions, drops, and exclusive in-game events and to manage the decision-making and development of projects.
Lucky Kat is a game studio from the Netherlands whose games have been downloaded over 200 million times in app stores. The team’s first Web3 game is Panzerdogs, a play & earn PVP tank fighting game. The game has recently been trial-run on iOS and Android platforms in several countries and has attracted more than 50,000 users in a short period.
In Panzerdogs, players will engage in PVE (Player vs. Environment) or PVP (Player vs. Player) battles with their tanks and avatars, earning Battle Pass (PanzerPass) progress, Account XP, and winning or winning battles along the way. Additional rewards for completing missions. Players will earn tokens or other prizes for competing in PanzerPass.
Panzerdogs uses a two-token model: the first token (BOLT) is mainly obtained by playing the game, and this currency is used to obtain low-rarity tank parts and tanks through crafting and unboxing. The second token (LUCKY) is used to purchase special in-game items and equipment and is required to craft higher rarity tank parts and tanks, and LUCKY can also be utilized to earn income through mechanisms such as staking.
In addition to Panzerdogs, Lucky Kat is concurrently developing its second game, Cosmocadia, a collaborative community-based game where people build their own dream islands. It will release its original Genesis series on Sui soon.
Intella X is a Web3 game platform jointly developed by South Korean game companies Neowiz and Polygon. It aims to eliminate high participation barriers and improve user experience in Web3 through simplified wallet creation and meta-transactions.
It provides mobile wallets, DEX, NFT markets, and Various Web3 functions such as launchpad and games. Intella X implements a contribution-based reward distribution model, where contributors (i.e., game developers and game players) can earn Intella X tokens (IX), the native platform token, based on their contributions to the platform ecosystem.
In addition, users can contribute to the platform ecosystem by staking or providing liquidity to the platform ecosystem and obtain platform revenue sharing in the form of digital assets. At the beginning of this year, Intella X completed $12 million in the financing, and Polygon, Animoca Brands, Magic Eden, and other institutions participated in the investment.
Matchday.com game studio launched the Web3 football game Matchday, which is “built for 5 billion fans”. Its partnership with FIFA, FIFPRO, players, and leagues around the world will bring thousands of officially licensed professional players into the game. Matchday players collect player cards to build their own teams and compete against each other.
The game is also a play-and-earn mode. Using utility tokens and governance tokens, player cards can be cast into NFTs that can be purchased and collected by players. Players can also create digital assets in the form of NFTs, upload them to the market, and then By buying and sell these digital assets.
Play Time is a company founded by Argentine football player Lionel Messi and two Silicon Valley veterans in October last year. Its main goal is to invest in sports, media, and technology. There are football games among the first batch of start-up companies it invested in after its establishment. Room Matchday.com.
Stella Fantasy is an NFT action RPG with collectible characters developed by Ring Games. The game character is the basic asset related to the core gameplay of Stella Fantasy, and it is also the first NFT asset that players can directly control and interact with.
Each character has its own strengths and offers additional support, such as boosting game resource generation facilities or crafting gear. Players will continually collect and upgrade various characters to suit their needs in order to develop strategies to increase their potential utility through the game.
Two currencies are used in Stella Fantasy: Manaring is an auxiliary currency commonly used in the game; Stella Fantasy Token (SFTY) is a multi-purpose token issued to maintain Stella Fantasy’s ecosystem and governance. Digital assets such as characters, equipment, and other commodities that players acquire throughout the game will be stored in the player’s wallet in the form of tokens and NFTs.
Stella Fantasy has developed more than 20 high-quality anime characters using the Unreal 4 engine to provide a gaming experience rarely seen in NFT blockchain games. Based on these characters, Stella Fantasy also plans to create and expand IP and its ecosystem, developing a multiverse platform.
Strider aims to create a transparent and secure blockchain-based digital ledger Web3 platform, which is dedicated to helping creators use DAO as an alternative to the company’s management system.
Its founders, Andrew Green, Michael Brozman, Michael Cala, and Nick Braccia, all have more than 20 years of industry experience in game development or investment marketing.
The Strider platform will provide users with DAO tools for idea-making, such as contributor payments, idea bounties, proposal submissions, programmable treasury, token issuance, hierarchical governance structures, and creativity in front-end user experience and voting mechanisms new try. The startup’s goal is to empower the community by unlocking the ability to launch and retain ownership of projects easily, quickly, and efficiently.
On February 21, Strider completed a $3 million financing led by Makers Fund and Fabric Ventures, with Shima Capital, Sfermion, Magic Eden, and others following in, bringing the company’s total financing to $8.5 million.
Rooniverse is a pocket multiplayer online game developed by web3 game studio XP Foundry, which will be launched on mobile phones, PCs, and Macs. Where players can explore, compete, progress, collect, and build their lives with their adorable but savage pet Roos.
The alpha version, which has been launched so far, includes two game modes, custom lobbies, player accounts with battle pass progression, soft currency, and an exclusive cosmetic shop.
The soft launch will include community tournaments, weekly leaderboard competitions, and competitions with partners such as YGG SEA, Snack Club, and Degen Legends. XP Foundry has reached a long-term cooperation with Naavik, a game research and consulting team, and will jointly develop Rooniverse.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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