Tag: Cryptocurrency

Gods Unchained by Immutable X, an NFT game.

Immutable raises over $60M for NFT games platform on Ethereum network

The blockchain company Immutable raised over $60M for NFT games to be on the platform via the Ethereum network. Immutable X is the first layer 2 trading solution for NFTs on Ethereum, providing scalability and gas free transactions. Immutable X allows game developers to unlock game mechanics like fusing, and rewards, while supercharging secondary markets by ensuring you can trade your assets without worrying how much you will pay in gas fees.

Immutable X is one of the few products positioned early enough in the blockchain industry to solve one of the largest problems holding the community back: ETH Gas fees.

The ImmutableX Roadmap displays the direction of the company overtime.

ImmutableX Roadmap

One game that has already been in the making that is guaranteed to use the ImmutableX gasless platform for trading NFTs is “Gods Unchained”. Gods Unchained is a trading card game being made by ImmutableX themselves. According to their blog, they are slotted to be the first adopters of the platform and are passing that to their users.

Immutable X has recently announced that they will airdrop or sell a $GODS token to players so they can have a voice in how the studio runs the game. At launch, $GODS will operate as a utility and governance token, giving holders a voice in the digital space, as well as active staking opportunities that allow players to earn rewards through gameplay campaigns. Over time, functionality of the $GODS will expand to embed the token within Gods Unchained, enabling players to earn $GODS tokens as rewards when people play the game.

Gods Unchained is led by Chris Clay who is the former game director of Magic The Gathering Arena. 

The Series B funding round was co-led by Bitkraft Ventures and King River Capital. It also included Prosus Ventures, Galaxy Interactive, Alex Capital, Fabric Ventures, and more.

The total funding to date for Immutable X is known to be now $77.5 million USD. Immutable plans to use the funding to strengthen partnerships with game developers, hire more engineers, and expand its sales division.

Another game due out in 2022 that utilizes the Immutable X platform for their NFTs is Guild of Guardians, which is a mobile RPG. Other games include War Riders and Illuvium.

So how does Immutable X do it? They utilize StarkWare’s ZK rollup technology which allows applications to scale without compromising security.

Robbie Ferguson is a co-founder of Immutable X and he revealed that one of the biggest products they are planning to offer isnt just a platform to sell NFTs, but a series of tools that game developers can use to build NFT games without having to know much about blockchain. Tools such as credit card transaction services, anti-money laundering, KYC compliance, and more will be available to mainstream game developers who are mostly behind the bus on these types of technologies dealing with blockchain.

NFT sales are up for the first half of 2021 versus the first half of 2020. From $13.7 million in NFT sales in the 1st six months of 2000 to $2.5 BILLION in the first 6 months of 2021.

Immutable X can handle over 9,000 transactions per second. That makes them a front runner in the industry for handling the scaling needed for supporting gaming. They expect over time to be able handle more than 9k tx per sec. In addition to being fast and secure, the platform also claims to be carbon neutral!

Currently known projects that have partnerships and deals with Immutable X in the pipe:

  • OpenSea.io
  • Mintable
  • RTFKT Studios
  • Ecomi ($OMI) / VeVe Collectibles (Marvel / Star Trek)
  • Medal.TV
  • HighRise
  • TokenTrove
  • SuperFarm
  • Epics.gg
  • Illuviam game
  • Lucid Sight games
  • War Riders game
  • Mintable
  • Double Jump.Tokyo / MCH+
  • NRG Esports
  • Gods Unchained
  • Guild of Guardians

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Axie Infinity is a NFT-based online video game

Axie Infinity

Axie Infinity is a play to earn NFT based online video game developed by Vietnamese studio Sky Mavis. It’s a trading and battling game that allows players to collect, breed, raise, battle, and trade creatures known as “Axies” (characters based on axolotl), which are digitized as NFTs. New players need to have at least three Axies to play.

The game makes use of two unique Ethereum based cryptocurrency coins. Which are Axie Infinity Shards (AXS) and Smooth Love Potion (SLP). Axies and eggs in themselves can also be sold to other people with Ethereum as its trade of currency. Players can view the current value of AXS and SLP on Coingecko.com. The majority of transactions take place on Ronin, a sidechain built by developer Sky Mavis with the intent to have lower fees than the main Ethereum blockchain.

As of January 2019, virtual land (in the form of non-fungible tokens) can also be purchased in the game.

In November 2019, Sky Mavis raised  around $1,500,000 USD to accelerate the development of Axie Infinity. The round was led by Animoca Brands with participation from Hashed, Pangea Blockchain Fund, ConsenSys, and 500 Startups.

Protocol revenue on Axie Infinity yielded $305 million over 30 days in July and August of 2021.

Axies are fantastical monsters that can be fought, collected, and raised by players. Each Axie has unique characteristics that influence it in battle. Each Axie has 4 notable stats to be looked into. These include Health, Morale, Skill, and Speed. These stats along with other aspects are important to know whether an Axie can be deployed to fight into the arena competitively.

  • Morale: Morale raises the chance of a critical strike. It also increases the chance of entering last stand and adds extra last stand ticks.
  • Speed: Turn order is determined by speed. Axies with greater speed attack first. Speed also reduces an Axie’s chances of getting hit by a critical attack.
  • Skill: When an Axie plays numerous cards at once, Skill increases the damage (combo).
  • Health: The maximum amount of damage your Axie can take before being knocked out.

Axie Infinity is a play to earn NFT based online video game

Similar to one of the most popular game series called Pokemon, Axie Infinity also has a class traits system that implements advantages against one class over another. There are currently 9 axie types that have been introduced in the game. Within these classes are three special classes that can only be bred using special combinations of axies. Mech results as an offspring of a purebred Beast Axie and a purebred Bug Axie. Dawn results as an offspring of a purebred Plant Axie and a purebred Bird Axie. Finally, Dusk Axies are born of purebred Reptile Axie and purebred Aquatic Axie parents.

  • Aquatic
  • Beast
  • Bird
  • Bug
  • Dawn
  • Dusk
  • Mech
  • Plant
  • Reptile

Axies have six body parts: eyes, ears, a horn, a mouth, a back, and a tail. The body parts that are responsible for the Axie’s skill cards are its Mouth, Tail, Horn, and Back. Each body part also contributes different additional stats depending on which class the part belongs to.

  • Aqua: 3 Speed + 1 HP
  • Beast: 3 Morale+1 Speed
  • Bird: 3 Speed + 1 Morale
  • Bug: 3 Morale + 1 HP
  • Plant: 3 HP + 1 Morale
  • Reptile: 3 HP + 1 Speed

Axie Infinity classes

CryptoKitties is a play to earn NFT based online video game

CryptoKitties

CryptoKitties is a play to earn NFT based online video game developed by Dapper Labs in Canada. It is one of the earliest attempts to deploy blockchain technology for recreation and leisure. The game’s popularity in December 2017 congested the Ethereum network, causing it to reach an all-time high in the number of transactions and slowing it down significantly.

CryptoKitties operates on Ethereum’s underlying blockchain network. Each CryptoKitty is an NFT. Each is unique and owned by the user, validated through the blockchain, and its value can appreciate or depreciate based on the market. CryptoKitties cannot be replicated and cannot be transferred without the user’s permission even by the game developers. Users can interact with their CryptoKitties, having the ability to buy, sell, and sire (breed) them. However, the CryptoKitty art is not on the blockchain and is instead owned by Axiom Zen. The company released some of the art under a new ‘Nifty’ license that lets players use the image of their CryptoKitty in a limited way.

The virtual cats are breedable and carry a unique number and 256 bit distinct genome with DNA and different attributes (cattributes) that can be passed to offspring. Several traits can be passed down from the parents to the offspring. There are a total of 12 ‘cattributes’ for any cat, including pattern, mouth shape, fur, eye shape, base color, accent color, highlight color, eye color, and optional wild, environment, ‘purrstige’ and ‘secret’. Other features like cool down times are not passed down but are instead a function of the ‘generation’ of the offspring, which is one more than the ‘generation’ of the highest ‘generation’ attribute.

On March 20th in 2018, it was announced that CryptoKitties would be spun off into its own company, Dapper Labs. They raised $12 million from several top venture capital firms and angel investors. The investment round was led by New York based Union Square Ventures and San Francisco based Andreessen Horowitz. On May 12th in 2018, a CryptoKitty was sold for $140,000. Then, in October of 2018, over 1 million CryptoKitties had been bred with a volume of 3.2 million transactions. Then, in November of 2018, Dapper Labs raised an additional $15 million in a venture round led by Venrock and doubled it’s valuation.

The ZKM Center for Art and Media Karlsruhe showcased CryptoKitties in 2018 as part of their blockchain technology exhibit.

OpenSea and RareBits were created as a response to the boom created by CryptoKitties and its users. DapperLabs announced later that they were going to use the Flow blockchain to avoid the problems of the gas fees and congestion of Ethereum.

On September 15th, 2021, Google announced it was joining forces with Dapper Labs to help support the development of Web 3.0 products and services including NFTs. Google Cloud will serve as a network operator for Dapper Labs’ Flow blockchain.

The Flow blockchain is a scalable infrastructure that powers NFTs, games, and applications. Google plans to help Flow scale via the Google Cloud services. Flow also supports NBA Top Shot.

Michael Jordan and Kevin Durant both ahve invested in DapperLabs during the $305 million funding round in early 2021. This brought the company’s valuation to $2.6 billion. The $FLOW token is tracked on CoinMarketCap and CoinGecko and available on both Binance and Kucoin at the time of this article.