Web3 games, which leverage blockchain technology to offer features such as play-to-earn mechanics and true digital ownership, have seen a surge in popularity in recent years. However, the road to success in this innovative gaming landscape is fraught with difficulties.

CoinGecko’s High Web3 Games Failure Rate Isn’t All Bad

The high failure rate can be attributed to a variety of factors. Many of these projects were launched by anonymous developers with little to no value or discernible purpose. The lack of commitment to these projects resulted in a high rate of failure and their ultimate demise.

However, it’s important to note that the failure of these games does not necessarily spell doom for the Web3 gaming industry. On the contrary, it highlights the experimental nature of the field and the need for more robust and sustainable development practices.

The high failure rate also underscores the importance of due diligence for players and investors in the space. With the promise of high returns and the allure of innovative gameplay mechanics, it can be easy to overlook the risks associated with investing in these games.

Despite the high failure rate, the future of Web3 gaming looks promising. The industry continues to attract significant investment and interest, and successful projects have demonstrated the potential for blockchain technology to revolutionize the gaming industry.

In conclusion, while the high failure rate of Web3 games is a cause for concern, it also serves as a reminder of the risks and challenges associated with this emerging field. As the industry matures and development practices improve, we can expect to see a decrease in the failure rate and the rise of more successful and sustainable Web3 games.

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Under the slogan “Build Your Future”, the project lays the groundwork for players to start building the arsenal they will use in future versions of the game. The crafting process involves interacting with the species of Outer Ring throughout the entire crafting process to build their weapons and armor. Each character in Outer Ring represents a Pool, and players will need to use them during a three-step itinerary to create, design, and assemble each of their NFTs.

The Underground Market System is a New Feature in the Video Game

The Outer Ring Crafting System is an innovative feature in the Outer Ring MMO. This system allows players to dive deep into the world of Outer Ring and uncover the secrets behind crafting. From gathering materials to creating advanced weaponry. The system was launched as a Web3 Crafting System, enabling players to build weapons and armor.

As part of the crafting system, Outer Ring is introducing the Underground Market, a concept often associated with economic transactions deemed illegal. However, in the context of a game like Outer Ring, it could potentially refer to a marketplace for trading crafted items or resources.

The Underground Market is a versatile platform that facilitates immediate transactions for buying, selling, and acquiring materials. This market not only provides convenience but also empowers players with significant influence over the economy of crafting materials. It enables them to list their items and determine their own prices, thereby offering an unprecedented level of control.

Welcome to the Underground Market!

Explore today! https://t.co/PP74iTwzcQ pic.twitter.com/MKFmIQX8WU

— Outer Ring MMO (@OuterRingMMO) November 21, 2023

To start enjoying the Crafting experience and the underground market, users must meet some basic requirements: possess a wallet to connect to the Outer Ring Dapp and have the necessary materials in it to manufacture the desired object. These materials can be obtained in the Outer Ring Farms, through the Staking Pools of GQ, or through an exchange within the DeFi section.

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In an interview with Cointelegraph, Dizon said that the current model of play-to-earn (P2E) games, which requires players to invest in nonfungible tokens (NFTs) or tokens to participate, is not sustainable for mass adoption. He argued that Web3 games should lower the barriers to entry and focus on gameplay first, rather than tokenomics.

“There’s this big realization that for millions of people to be able to get into a game, they have to be free-to-play first,” he said. “There’s an evolution of the business model where the games are free to play, and then at some point along the way while you’re playing, then you’re able to mint an NFT or start earning tokens, but a lot of new games aren’t really starting with requiring NFT ownership at the start.”

Dizon Shares his Insights on the Future of Web3 Games

Dizon cited the example of Axie Infinity, a popular P2E game that requires players to buy at least three Axie NFTs to play. The game saw a huge surge in users and revenues in 2021 but also faced challenges such as price volatility, scalability issues, and user retention. Dizon said that many players left the game after the prices of Axies and the in-game token Smooth Love Potion (SLP) dropped significantly.

Dizon observed that many individuals who participated in Axie were not primarily gamers, but were attracted by the financial prospects. However, when these financial benefits ceased, these individuals tended to depart. Dizon anticipates that the forthcoming generation of Web3 games will prioritize the development of captivating and immersive experiences that retain players, irrespective of the financial rewards.

He said that he expects to see more high-quality games launching in the next year, as many experienced game developers have been working on Web3 projects since 2021. He also mentioned some of the innovations that Web3 games will bring, such as the use of the ERC-6551 token standard, which allows players to attach artificial intelligence (AI) behaviors to their NFTs and automate tasks in the game world.

Dizon anticipates the emergence of a novel gaming genre where interaction with AI takes precedence over continuous gameplay. In this new approach, players would establish guidelines for the AI, which would then autonomously navigate the gaming environment. He believes that this development could introduce intriguing dynamics to the gaming world.

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Ready to battle and tame some monsters in the enchanted World of Kogaea? The portal to Kogaea is now open!

Face thrilling quests
Engage in fierce battles
Unlock exclusive rewards

Follow these easy steps to enter the game https://t.co/G8L1NPKqQk pic.twitter.com/WXS4n0who5

— KMON (@KryptomonTeam) October 30, 2023

The launch of “KMON: World of Kogaea” is part of a month-long celebration known as “WOKtober”, an innovative campaign that seeks to bridge the realms of augmented reality (AR), community, NFTs, and gaming. WOKtober offers a unique blend of strategic gameplay, community engagement, and blockchain-based rewards, set against a backdrop of thrilling adventures, enigmatic mysteries, and substantial prizes.

Explore the Mystical Realm of Kogaea

A notable aspect of WOKtober is the debut of “Pink Moon Shards”. These tokens, forged using ERC-1125 blockchain technology, are exclusively available to players who complete quests during the Early-Community Preview events in the World of Kogaea. These shards, which are unique to the game’s Early-Community Preview launch events, will function as tradable NFTs, providing rewards to players.

The Pink Moon Shards could potentially provide players with the chance to engage with the “KMON Forge” during the official release of the game. The KMON Forge is a groundbreaking on-chain crafting system developed by Pink Moon. This system allows players to craft limited-edition NFTs that can’t be found elsewhere in the game, offering players significant advantages throughout the KMON Game Saga.

Alongside the exclusive shards, Pink Moon Studios is set to initiate a dynamic community campaign across various social media channels. Those who participate will have the chance to earn Kryptomon NFTs at no cost by simply completing a few tasks.

To celebrate this monumental event, Pink Moon Studios will host an exclusive live-streaming event. Throughout this event, participants will have the chance to interact with the creators of the game and jointly discover the universe of Kogaea.

This launch represents a harmonious fusion of cherished childhood memories with the exciting advancements of blockchain technology. It’s an invitation to players to be the first to experience this new massive world that Pink Moon Studios has brought to life.

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The reward amount is 50,000 $IMX per day during the Illuvium Spotlight. This trading program is exclusively focusing on Illuvium: Beyond.

So, what is this program and how to benefit from it? Let’s dive deep in to find answers.

Exciting news, Rangers!
We are thrilled to announce our latest partnership with @immutable for their Trading Rewards programme, exclusively focusing on Illuvium: Beyond! pic.twitter.com/SKEkJeogfK

— Illuvium (@illuviumio) March 9, 2023

What is the Reward?

The coolest part is this trading program has no single but daily rewards. If you start now, you can have the chance to earn a share of the daily 50k $IMX trading rewards.

How to get a share of the reward?

To win the 50k $IMX trading rewards, you must trade Illuvitars, including Illuvium Land, D1SKS, Illuvitars, and Iluvitar Accessories.

Only such trades will count during the Spotlight towards your Trading Reward. It’s a great opportunity where Trading Rewards eligibility is not limited to one specific marketplace, and other collections traded for Trading Rewards will not be eligible.

How to participate in the Illuvium Spotlight?

The process is convenient and quick. Check out these steps to learn how to participate in the program.

Get a wallet

You can trade if only you own a registered wallet on Immutable. Make sure you have it. If you don’t have it, sign up for it.

Start Trading

You get an $IMX token in your wallet on trading (buying or selling NFTs) at least $10 of eligible Illuvitars collection on Immutable.

Calculate your ETV

You get rewards based on the Eligible Trading Volume at the end of each day. This is how you calculate your Eligible Trading Volume: Sell amount + Buy amount + Fees. For instance, if there is $1M in the total Eligible Trading Volume across the Illuvitars collections and your ETV is one percent of the Eligible Volume i.e. $10,000, you will get a 1% $IMX token reward that day.

Illuvium Trading Reward Dashboard

If you are participating in this trading reward program, you will be using the Trading Reward Dashboard frequently. You can use it to track eligible collection, transaction volume and rewards.

The Illuvium Spotlight begins on March 9th from midnight UTC, and Immutable will be rewarding traders daily. So, take advantage of this opportunity now.

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The event brings the Olympics to Play-to-Earn where guilds will compete against each other in different GameFi events. Impossible Finance says it wants this event to become a “global crypto-gaming festival” and competition to unite games, guilds, and players in the space. It will also help to establish a controlled GameFi e-sports talent pool.

Introducing the Impossible Finance 0xlympics

We are bringing some of the best P2E guilds to the battlefield where their strongest players will compete in exciting games

Read about how we're buidling a global crypto-gaming festivalhttps://t.co/Oll7TZRcTx#IF #IDIA #NFT

— Impossible Finance (@impossiblefi) September 6, 2022

What to Expect from the 0xlympics Event

The play-to-earn event will see guilds competing in some of the most well-known Web3 games for the ultimate championship title. While sharing the beauty and fun of play-to-earn gaming, the event will also showcase the development and potential of Web3 and GameFi.

Impossible Finance also hopes to introduce core innovation partners in the gaming space and equip new projects to display their cutting-edge technology and ideas through 0xlympic.

Highlights of the Guild and Game Partners of the 0xlympics Event

The launchpad platform announced that it confirmed the participating guilds in the Impossible Finance 0xlympics 2022 event. The participants include Ancient8, Hooga Gaming, GuildFi, AvocadoDAO, PathDAO, Merit Circle, and Shadow Legacy Guild.

These guilds will send their players to compete in Thetan Arena, Axie Infinity, and Cyball games. The launchpad also mentioned that it partnered with Azuro, a betting platform, to heighten the excitement. Viewers have the chance to predict events during the 0xlympics and win rewards.

Overview of the 0xlympics Tournament

A total of eight teams will participate in the event with a single elimination from the best of three. The platform says it will release the full schedule of the event soon. It further stated it will stream 0xlympics through YouTube, ryptovoxel, Facebook, and Twitch to allow all everyone to watch and cheer their favorite teams. 

More Information about Impossible Finance

Impossible Finance is a crypto investment platform empowering users with high-quality, accessible, and fair crypto opportunities. It simplifies DeFi to enable everyone to enjoy cheaper trading, fairer investing, and better yields through its launchpad, accelerator, and swap platform.

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