Are you searching for the latest developments in the GameFi sector? We’ve kept track of the GameFi industry over the week and compiled the most intriguing news for your convenience. Here’s a summary of notable GameFi updates this May 1-5, 2023.
Electronic Arts Co-Founder, Jeff Burton, joins P2Earn Web3 Gaming Guild
gaming guild, P2Earn has added industry veteran Jeff Burton to its board. Burton, a co-founder of gaming giant Electronic Arts (EA), will serve as Chairman of the Board of Advisors for P2Earn.
P2Earn is a publicly-listed Web3 gaming guild that plans to launch on Polygon by the end of Q2 2023. The platform will offer gamers a platform, equipment, and access to NFTs in exchange for a percentage of their winnings.
Burton, who has been interested in crypto since at least 2017, believes in the potential of guild models. He is currently the Chairman of the Board of Advisors for the crypto game Engines of Fury, which is in beta and calls itself a “MOBA RPG.”
Arcus raises $1M in private investment for GameFi, SocialFi, and EsportsFi integration
Arcus, a web 3.0 ecosystem that integrates GameFi, SocialFi, and EsportsFi, has gained significant traction in the industry. The company has received $1 million in private financing to help it grow and has formed over 45 strategic partnerships with prominent players in the gaming industry.
Arcus, self-funded since the beginning of 2022, has focused on developing its product in the esports industry. The company is now in the Alpha stage and plans to launch its NFT pre-sale in May and IDO in June.
The Filipino-led firms GO8 Labs and Block Tides Ventures incubated Arcus, which has received backing from IBC Group, Block Tides Ventures, Block Asia Labs, and ATF Capital, among other prominent investors. Arcus is collaborating with Crypto.com NFT to launch its first NFT pre-sale for early access. Gamers will have access to exclusive content and one-of-a-kind gaming experiences.
Neowiz launches $10M accelerator for Web3 games on Polygon
South Korean game publisher Neowiz is launching a $10 million grant program through its crypto subsidiary Intella X to fund the development of Web3 games on the Ethereum scaling network Polygon. The program, created in partnership with Polygon Labs, aims to bring more Web3 games to the Intella X ecosystem, which currently offers a crypto wallet, decentralized exchange, and NFT marketplace.
Neowiz raised $12 million for Intella X from investors like Polygon Labs and Animoca Brands earlier this year. Prospective grant recipients can expect a response in a few weeks to a month, and the amount given will vary depending on the project. Neowiz is the latest traditional game publisher to explore Web3 gaming, joining companies like Square Enix and Nexon.
Missed out on last week’s GameFi updates?
That’s all the GameFi updates this May 1-5, 2023! Missed the GameFi updates last week? Click here for the GameFi updates from April 24-28, 2023.