Admix Raises $25 Million Funding
Admix, the London-based game monetization, and ad firm announced that it raised 25 million dollars in a Series B funding round.
Newest Trend; Play to Earn Games – 2023
Play to Earn Games and what it tells about the new digital economy in the making. Crypto Games and NFT games are hot these days.
FaZe Clan Files IPO For $1 Billion – 2023
FaZe Clan, has joined IPO with an estimated value of $1 billion. FaZe Clan is a popular gaming company with millennials and Gen Z.
The Rise and Beast-Fall of eFuse Creator League: Blockchain Controversy
Last week, eFuse, an esports technology company, announced the launch of its “Creator League,” featuring popular content creators like Bella Poarch, iShowSpeed, and Clix. The initiative garnered significant attention, thanks in part to a promotional push utilizing MrBeast’s massive YouTube subscriber base. However, the project faced immediate controversy due to its use of blockchain technology, leading eFuse to temporarily suspend the league.
Before the league’s suspension, eFuse had been in the spotlight for a different reason – the company reportedly laid off around 30% of its staff. While eFuse did not disclose specific figures, they released a statement acknowledging the layoffs as part of a restructuring effort. Despite these challenges, eFuse expressed continued enthusiasm for the Creator League concept and pledged to take community feedback into account while refining the format.
The Creator League introduced “Community Passes,” which fans could purchase for $20 each. These passes were associated with various gamers and social media influencers who oversaw teams within the esports league. Passholders gained access to a private Discord server, allowing them to engage in league-related polls and tournaments.
However, concerns emerged within the esports community regarding the league’s use of blockchain technology. eFuse stated that it was using the Near blockchain to “validate data and log information” related to the Community Passes. They clarified that these passes were not NFTs (non-fungible tokens).
The controversy intensified when one of the YouTube creators featured in the Creator League, Connor “CDawgVA” Colquhoun, announced his intention to withdraw from the project due to a lack of understanding about the technology involved. Additionally, Bryce “Brycent” Johnson, a crypto gaming broadcaster, expressed uncertainty about whether other influencers associated with the league were aware of its blockchain ties. Responses from other parties involved, such as OTK and TipsOut, were mixed, with some claiming they were unaware of any NFT or crypto elements in the league.
Despite the use of blockchain technology to record Community Passes, eFuse did not explicitly communicate this fact to customers on its sales website or blog entries. However, they have stated that they will honor refund requests submitted by fans via email. When questioned about their business relationship with Near, an eFuse spokesperson revealed an “18-month relationship” with the blockchain platform, which had provided a cash grant to support eFuse’s tech development.
The Near Foundation, which provided the grant, did not immediately respond to media inquiries. However, a transparency report from September 2022 confirmed that eFuse had received an undisclosed amount as part of the foundation’s “Ecosystem” funding efforts.
Notably, eFuse has faced previous controversies, including the resignation of its Chief Strategy Officer, Patrick Klein, due to sexual harassment claims stemming from his time at Ohio State University. A university inquiry in 2020 found that Klein had violated the school’s sexual harassment standards in his interactions with multiple student-athletes via text and social media.
Moxy Esports Web3 Game Platform Brings Innovation
Moxy Esports introduces a novel concept to the web3 landscape with its esports platform, offering players the opportunity to compete for real-money rewards. The platform operates by allowing players to enter tournaments with a nominal fee, which contributes to a collective prize pool. Winners then share the prize pool, mirroring the distribution model seen in traditional esports. Unlike many web3 initiatives that focus on tokenization, Moxy prioritizes community, decentralization, and innovative gameplay.
The platform addresses the vast audience of video gamers and aims to bridge the gap between digital play and real-world rewards. While gaming has become more accessible than ever before, players often lack tangible recognition or rewards for their achievements. Most games are owned and controlled by companies, leaving players without substantial ownership. This presents an opportunity for web3 gaming, where players can possess in-game assets and convert rewards into real currency.
However, the transition to web3 gaming presents challenges, as the shift from traditional web2 gaming is significant and not easily embraced by all players. Moxy Esports enters this landscape as a solution, offering a distinct approach. Moxy’s game model involves players contributing small fees to join tournaments, creating a substantial prize. Winners then divide the prize pool amongst themselves, fostering an inclusive esports environment. Moxy’s approach seeks to attract both existing esports participants and new players who have been spectators.
Moxy’s uniqueness stems from its ability to amalgamate the best elements of web2 and web3 gaming. It doesn’t merely graft web3 features onto existing games but rather introduces an innovative gaming format that emphasizes competition, fun, and repetitive engagement. Importantly, this model is open to players of all skill levels, democratizing the esports experience and allowing traditional gamers to become champions.
The platform’s recent event, “Battle of the Influencers,” exemplifies its innovative approach. Players paid an entry fee, contributing to a collective prize, which was subsequently divided among winners. This event showcased a fusion of web2 gaming enjoyment and web3’s potential for rewarding participation.
Nolan Bushnell, a key figure in Moxy Esports, is set to speak about web3 gaming’s growth and significance at the Digital Entertainment Leadership Forum in Hong Kong. This underscores the platform’s commitment to advancing web3 gaming’s understanding and potential.
In summary, Moxy Esports disrupts the web3 gaming landscape with its unique approach that combines traditional gaming excitement with web3’s rewarding potential. By creating a platform where players contribute to a prize pool through nominal entry fees, Moxy engages a broad spectrum of players in competitive esports while embracing the spirit of web3 innovation.