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WHAT DO GAMERS REALLY THINK OF WEB3 GAMING?

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Coda Labs, a seasoned team of mobile game creators building fun games powered by web3 technology, is thrilled to publish the findings of The Global Web3 Gamer Study – the most ambitious study to-date of gamers’ feelings about web3. In partnership with the Blockchain Game Alliance, DappRadar, and Laguna Games, the survey reveals the thoughts of consumer gamers worldwide across all gaming platforms (PC, console, mobile, web3) about cryptocurrency, NFTs, and blockchain gaming.

Investment in web3 gaming is expected to reach around $10 billion by the end of 2022 despite the ongoing ‘crypto winter’, and an often highly critical response to web3 from gamers and game developers. In this context, Coda Labs surveyed 7,000 respondents from the UK, US, Brazil, Japan and South Africa to shed light on their understanding and opinions of, and involvement in, web3 gaming. Based on their gaming habits and use of web3 tech, respondents were segmented into groups of Gamers, Crypto Gamers and Crypto Non-Gamers.

Şekip Can Gökalp, CEO of Coda Labs, commented:

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“Is gamer dislike of crypto and NFTs a universal truth? This unprecedented study aims to answer that question for the whole games industry. Unsurprisingly, it did find that many gamers don’t perceive any benefits to web3 gaming, and even those with web3 knowledge are wary of financial costs and scams. Barriers to web3 going mainstream are plenty, although gamers’ concerns about its environmental impact are less pronounced than is often stated.

“When regular gamers do give web3 games a go, they tend to feel more positively, and this survey reveals that those regular gamers and heavy crypto users aren’t as far apart as we might have thought. They often overlap in their behaviours, motivations, and concerns; and ‘Crypto Gamers’ as we have called them are effectively hardcore gamers who are also early tech adopters. We hope the collective games industry can use these crucial insights to experiment with ways of making gaming more fun and accessible for all types of gamer.”

Sebastien Borget, President of the Blockchain Game Alliance, added:

“The Global Web3 Gamer Study proves with data that the blockchain gaming industry is still a nascent industry that needs more guidance in general both for Gamers and Developers. The first attempts at creating Web3 games have raised awareness but not defined the business model that will be the next industry standard yet. Our role as the Blockchain Game Alliance is to keep educating actors on the possibilities offered by the technology so they can innovate and experiment more with it.”

Key findings of The Global Web3 Gamer Study:

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  • Gamers are aware of cryptocurrency and NFTs, but generally don’t like them. 89% have heard of Bitcoin, and half (51%) have heard of NFTs, but NFT ownership is just 3%. And they rated their feelings towards crypto (4.5/10) and NFTs (4.3/10) negatively

  • Web3 gaming isn’t mass market yet…

52% of Gamers aren’t familiar with any web3 gaming term, though one in three have heard of “Play To Earn”. Only 12% of Gamers have tried playing a web3 game and only 15% who haven’t say they are interested in doing so

  • …And the barriers to mainstream adoption are many.

41% of Gamers were unsure as to how web3 gaming would work. Crypto Gamers were more concerned with scams (41%), and the financial costs of getting involved with web3 gaming (32%)

  • The P2E hangover is hard to shake.

Play to earn is the most familiar term for web3 games, and earning crypto is the main reason people play them. 37% of Gamers, 45% of Crypto Non-Gamers and 60% of Crypto Gamers view it as their main motivation, although other benefits such as community and ownership were cited too

  • Gamers appear to like web3 gaming and in-game NFTs once they try them. Despite Gamers’ lukewarm feelings towards crypto and NFTs, those who had played web3 games were positive about them, rating them 7.1/10. Gamers who did own NFTs also rated gaming-specific NFTs favourably, at 7.3/10.4

  • Gamers and crypto users do intersect.

The vast majority of crypto users are Gamers too (for every Crypto Non-Gamer there are five Crypto Gamers). And, while Crypto Non-Gamers don’t meet the definition of ‘Gamer’ for this study, the majority (71%) do game at least monthly, and 81% have played a web3 game

  • In fact, Crypto Gamers are ‘gamers on steroids’.

Crypto Gamers – who game and use crypto regularly – are hardcore players. They play more competitively and on more platforms than regular Gamers. They are also 62% more likely to spend money in-game

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Traderland.io Launches a Fusion of Gaming and Investment Training

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Traderland.io, an innovative interactive trading simulator gaming universe, has officially launched. The dynamic trading platform offers users the chance to immerse themselves in a socially-driven game landscape while honing their investment and asset-trading skills. Since its initial release, Traderland.io has rapidly gained popularity, attracting over 15,000 users.

Traderland.io stands out by utilizing real-time market data, allowing users to experience an immersive and realistic trading environment. Players can engage in trading activities that reflect live market conditions, providing a true-to-life simulation that enhances their learning experience.

In the Traderland.io universe, players are represented by customizable animated avatars. These avatars enable users to explore various cities within the platform, each offering unique challenges and opportunities. A significant feature is the ability to invest in virtual real estate across eight distinct regions, each with varying price points.

A core element of the Traderland.io experience is its tutorials, which are grounded in real-life trading scenarios. Users can choose to navigate these lessons with the guidance of a coach who is available to answer questions and provide step-by-step assistance.

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Traderland.io offers a broad selection of virtual assets for users to trade, including forex, stocks, cryptocurrencies, and futures. By trading these assets, players can gain practical experience and understand the intricacies of different investment vehicles.

The asset prices within the platform mirror actual market fluctuations, allowing traders to observe the impact of their decisions and adapt their strategies accordingly. Players can monitor their gains and losses through a comprehensive dashboard, providing a snapshot of their portfolio’s performance.

One of the platform’s most exciting features is the opportunity for players to engage in trading battles and tournaments against traders from around the world. These competitions not only elevate the excitement but also offer the chance to win real money, adding a tangible reward to the virtual trading experience.

The investment landscape is expanding rapidly, with the cryptocurrency market alone projected to grow to $13.18 billion by 2031. As more investors enter the market, Traderland.io aims to bridge the knowledge gap by educating users about various assets through an engaging, gamified approach. By participating in real-time trading and completing the tutorials, players can enter the investment space with confidence and competence.

Traderland.io is available exclusively through its website, offering a unique and comprehensive trading simulator that combines education, competition, and community engagement.

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Rivalry Expands Crypto Native Experience With Token Launch in H2 2024, Web3 Product Enhancements

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Blockchain-Based Product to Position Rivalry Within Fast-Growing Crypto Gambling Segment, Drive Product-Market Fit Among Digitally Native Bettors with Increased Functionality and User Experiences

Rivalry, the leading sportsbook and iGaming operator for Gen Z, revealed Rivalry Token, a native crypto token on the blockchain to add increased functionality, economics, and user experiences across the company’s product suite, continuing Rivalry’s track record of innovation in online betting. The launch of Rivalry Token, anticipated to arrive in H2 2024, represents one of several forthcoming initiatives to position Rivalry in the crypto gambling market and better serve its core audience of 30-and-under bettors.

“Online gambling is the latest web-based consumer category being increasingly disrupted by blockchain technologies with greater speed, access, and functionality than their legacy counterparts,” said Steven Salz, Co-Founder and CEO, Rivalry. “Tech-savvy bettors are leading a behavioral shift towards more experiential and crypto-enabled gambling experiences that are taking wallet share from incumbents at an accelerated rate.”

“Rivalry is well-positioned to access the growth opportunity in crypto with a proven product set, a brand entrenched in internet culture, and a captive audience of digitally native users that are driving this economic renaissance,” Salz added. “The launch of Rivalry Token, alongside a broader expansion into cryptocurrencies, strengthens our product-market fit among an under-30 audience and positions us competitively to capture a meaningful share of this fast-growing segment of the market.”

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Rivalry Token will be integrated within Rivalry’s product suite – from sportsbook to casino and more – with built-in properties to enhance the customer experience from end-to-end. Users can earn tokens through site activity such as betting and referring friends, which can be used on Rivalry to boost odds, participate in jackpots, and more to be detailed in the future. Rivalry Token will also be available on several to-be-announced crypto exchange platforms, trading under $RVLRY.

Rivalry Token creates a new dynamic relationship between player and house where every sports wager and casino spin, win or lose, is rewarded with a decentralized asset that can accrue value alongside player activity on Rivalry. The company expects its token will drive a meaningful increase in player engagement, loyalty, and advocacy by establishing more positive economic alignment and enabling customers to actively participate in product success.

Rivalry has today launched a pre-farming campaign where users can begin accumulating an interim currency through site activity and eventually social media which will be converted into Rivalry Token during the token generation event in H2 2024. Additionally, tokens will be distributed to all Rivalry accounts based on historical activity, rewarding loyal customers and creating a substantial reactivation opportunity for churned users.

Rivalry will also soon be adding greater support for other cryptocurrencies on its platform, allowing users to more easily bet with Bitcoin, Ethereum, Dogecoin, and other major cryptocurrencies. This will enable Rivalry to access a fast-growing audience gambling with crypto that is estimated to account for up to one quarter of global betting handle.

Following the official launch, Rivalry Token will be available for players to use on Rivalry in all of the company’s active markets excluding Ontario and Australia.

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The company will release more information about Rivalry Token throughout the coming months, including commercial partners, token economics, and more.

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Metalottery Launches Blockchain Lottery Revolution: Zero Fees, Instant Wins and Life-Changing Jackpots in Crypto

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A brand-new online lottery portal built on blockchain technology is shaking things up in the world of chance. Metalottery, the first-ever decentralised blockchain lottery platform, officially launched, introducing a new era of transparent, thrilling and rewarding lottery gaming. By combining cutting-edge blockchain technology with the excitement of lotteries, Metalottery offers players unprecedented fairness, security and the potential to win life-changing prizes.

“Metalottery is not just another lottery; it’s a paradigm shift. We’re giving power back to the players by offering a transparent, secure, and exciting lottery experience that’s built for the web3 age,” Dioni Bouropoulos, COO of Poollotto Finance, said.

Unlike traditional lotteries, Metalottery uses Chainlink’s Verifiable Random Function (VRF) to ensure provably fair and unbiased results for every draw. And with new lottery rounds starting every 8 hours, players can enjoy the thrill of winning more often than ever before.

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At the heart of Metalottery is the PLT token, the fuel of the platform’s ecosystem that players can use to purchase tickets. Metalottery makes purchasing Pool Lottery Token (PLT) available and straightforward on their website. Players can also spin the “Wheel of Fortune” for additional rewards as well as participate in a growing community of lottery enthusiasts on Telegram and Discord.

Bouropoulos added: “Our platform is designed to be inclusive and accessible to a global audience. By combining innovative technology with a user-friendly interface, we empower players to take control of their lottery journey. We are charging no fees for participation and all proceeds from tickets go towards the jackpot. Our goal is to build the biggest lottery community in the world.”

The post Metalottery Launches Blockchain Lottery Revolution: Zero Fees, Instant Wins and Life-Changing Jackpots in Crypto appeared first on European Gaming Industry News.

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