Ethereum Layer-2 Blockchain Foundation Reignites Interest In Gaming: Here's How
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Starknet Foundation Ignites Gaming Renaissance

In a move to reignite interest in gaming on the Ethereum layer-2 blockchain Starknet, the Starknet Foundation has unveiled its Gaming Committee, backed by a staggering $125.5 million budget. This initiative comes when the network experiences declining activity after previous concerns regarding token unlock schedules.

Per the announcement, the Gaming Committee’s responsibilities include analyzing, strategizing, and recommending programs to extend Starknet’s gaming community. With about 50 million Starknet (STRK) tokens earmarked for funding its proposals, the committee aims to incentivize developers to build games on Starknet to boost user engagement.

The committee comprises six distinguished members, each with their unique expertise. Henri Lieutaud, the head of developer relations at Starknet, heads the committee alongside Gabin Marignier, a co-founder of Focus Tree, a productivity app, and Chris Lexmond, the founder of Unstoppable Games.

Other members are Tarrence van As, co-founder of the Starknet-based “gaming console” Cartridge, Oli Feuler, an ecosystem developer from StarkWare, and the pseudonymous creator of Starknet-based game Realms World, known as “LordOfAFew” or “LOAF.”

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StarkWare’s decision to amend the unlock schedule was prompted by concerns that the original plan could lead to early investors dumping the blockchain’s native tokens.

A Market Decline

Meanwhile, the non-fungible token (NFT) market is witnessing a downturn despite Ether (ETH) reaching two-year highs. On March 12, top NFT collections experienced a decline in floor prices, with seven out of the ten most traded collections on the Blur marketplace registering losses in ETH-denominated prices.

Yuga Labs’ Mutant Ape Yacht Club and Bored Ape collections were among the hardest hit, with 13% and 14% declines, respectively. Azuki and DeGods also saw significant decreases, with drops of almost 9% and 10%, respectively.

Notably, the downtrend has persisted over the past seven days, with DeGods witnessing an over 40% decline in value. CryptoSlam! sales volume data further underscores the market’s bearish sentiment, with a nearly 22% drop in sales volume over the past week.

Amidst these developments, Kevin Rose, the co-creator of the Moonbirds NFT collection, announced his decision to sell over $1.3 million worth of NFTs. Rose justified his actions as part of a strategy to diversify his holdings rather than banking on a single collection’s success.

NFTScan data reveals that Rose’s wallet executed numerous sales over the past three weeks, including two transactions exceeding 140 ETH each. Additionally, Rose transferred a high-value CryptoPunk NFT to another wallet, further confirming the shift in his investment strategy.

Rose decided to liquidate a portion of his NFT holdings after Yuga Labs acquired his firm, Proof, and its associated NFT collections. Proof’s staff were integrated into Yuga Labs as part of the acquisition terms, while Rose assumed an advisory role within the company.

Readyverse Drops “Open” Trailer

Moreover, Readyverse Studios, in collaboration with Futurverse Studios and Walker Labs, has launched the first official trailer for “Open,” a revolutionary metaverse battle royale game. Backed by Ready Player One author Ernest Cline and producer Dan Farah, Readyverse aims to redefine the gaming landscape by integrating top-tier intellectual properties (IPs) through web3 technology.

The trailer, which garnered nearly 2,300 views within hours of its release, offers a tantalizing glimpse into the expansive world of “Open.” Astute viewers noted familiar icons, including a Nintendo Entertainment System, an Atari 2600, and a DMC Delorean reminiscent of “Back to The Future.”

The Promise Of The Open Metaverse

While gameplay footage remains elusive, “Open” aims to deliver a third-person battle royale experience similar to popular titles like Call of Duty: Warzone and Fortnite. However, what sets it apart is utilizing the principles of the open metaverse, including security, decentralization, and digital ownership.

Through the use of NFT tokens, players can transfer characters and assets seamlessly across different environments. This innovative approach could revolutionize in-game economies and player interactions, paving the way for new forms of digital ownership and value exchange within the metaverse.

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George Ward

By George Ward

George Ward is a crypto journalist and market analyst at Herald Sheets, known for his engaging articles on the latest digital currency trends. With a background in finance and journalism, he presents complex topics accessibly. George holds a degree in Business and Finance from the University of Cambridge.

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