Looking to keep abreast of the latest news and updates in GameFi? We’ve been tracking the GameFi space over the week to bring you the most exciting updates. Check out the most interesting GameFi updates from June 26-30, 2023, that you shouldn’t miss.
Oasys and DEA’s Ambitious Partnership Targets Social Good in Gaming
Digital Entertainment Asset Pte. Ltd. (DEA) has confirmed a partnership with Oasys, a Japanese blockchain gaming platform. The partnership will allow DEA, who owns the renowned PlayMining GameFi platform, to construct and implement a new Layer 2 blockchain, provisionally dubbed ‘DEP Verse,’ on Oasys’ Layer 1 hub. The collaboration also includes expansion activities aimed at advancing blockchain gaming’s mainstream acceptance.
Oasys offers Layer 1 hub technology and a Layer 2 platform for developers to build dApps on, attracting several major gaming companies as initial validators on the blockchain. The already extensive DEA’s PlayMining GameFi platform, with six P2E games, two NFT marketplaces, and one metaverse project, stands to benefit significantly from the collaboration. DEA also focuses on social impact initiatives such as supporting single mothers, disabled people, and impoverished farming communities.
The partnership will involve joint game title considerations, marketing efforts, and providing consultancy and support for projects wanting to launch games on the Oasys platform. The aim is to make blockchain games more appealing to a wider audience. Further announcements on the partnership and DEP Verse will be made at a special event hosted by Oasys at Nijo Castle in Kyoto.
Mythical Games Secures $37M to Bolster In-Game Marketplace
Mythical Games has raised $37 million in a Series C1 funding round to launch a new in-game marketplace and further revenue-generating projects. The round was led by Scytale Digital and included investors like ARK Invest, Animoca Brands, MoonPay, Proof VC, Stanford Athletics, and others. Mythical Games anticipates to gather an additional $20 million to $30 million in the coming months as the round concludes.
Mythical Games is planning to launch its new game, Nitro National World Tour, in a few months and has been conducting presales of nonfungible tokens (NFTs) since February. Part of the funding will also go towards developing an in-game marketplace for its other title, NFL Rivals, which has recently crossed 1 million downloads.
Additionally, the company has revealed a move from the Ethereum blockchain to the Polkadot ecosystem for the Mythical Chain. This decision was prompted by Ethereum’s slow transaction speeds and high costs.
With NFT sales over the past 30 days amounting to $29 million, Mythical Games remains one of the top-performing blockchains. The newly raised fund builds upon the previous capital raises, which secured $225 million across two rounds in 2021.
Pixion Games Secures $5.5M Seed Funding for Flagship Web3 Game, Fableborne
Pixion Games has successfully raised $5.5 million in seed funding to enhance the development of its flagship game, Fableborne. The funding round saw participation from several significant investors, such as the Avalanche Foundation’s Blizzard Fund, Shima Capital, and ReadyPlayerDAO.
The funds will primarily be invested in expanding Fableborne, an action-based role-playing game. Kam Punia, founder and CEO of Pixion Games, disclosed plans to use the funding for tech stack development and filling key leadership positions. Pixion Games is inviting players for playtests and is planning a public launch of Fableborne within the next year.
Missed out on last week’s GameFi updates?
That’s all the GameFi updates this June 26-30, 2023! Missed the GameFi updates last week? Click here for the GameFi updates from June 19-23, 2023.