Author: DeMan
Funding for Web3 games peaked between February and March, with monthly investments ranging from $60 million to $100 million. However, this only accounted for 41.35% of the trading volume in the first quarter of 2022. Compared to other cryptocurrencies, the market value of Web3 games has dropped 33% since early 2024, while other cryptocurrencies have only fallen by 14%.
Despite challenges, Web3 games still hold immense potential. First, Web3 gaming remains an active sector, accounting for 30% of all dApp activity, with 2.1 million daily active wallets. Additionally, with continuous technological advancements and improved user experiences, Web3 games are expected to become a significant driving force in the cryptocurrency sector.
Recently, Delphi Venture partner Piers Kicks posted in support of game developer Gunzilla Games and its upcoming flagship game Off The Grid.
According to Piers' post, Delphi Ventures has made significant bets on Off The Grid, making it the largest investment project in its gaming portfolio. The game has undergone five years of development by a 300-person team, with total investment reaching $90 million.
As a side note, the estimated cost of Black Myth: Wukong was previously revealed by the game's producer to be between 300 to 400 million yuan; roughly calculated, Off The Grid's investment cost is even higher than that of Black Monkey.
In the context of many blockchain game projects failing, why does Off The Grid stand a chance?
01 Cyberpunk Battle Royale
OTG, developed by crypto game developer Gunzilla Games, has currently launched an early access version on the Epic Game Store, PlayStation 5, and Xbox. After several game streamers promoted it, OTG quickly became a sensation, reaching the top of the free games on the Epic Games Store starting in mid-October, and garnered at least hundreds of thousands of live views on the Twitch streaming platform.
OTG inherits mechanics from classic battle royale games like Call of Duty and Apex Legends, but its cyberpunk-style equipment and items provide players with a richer experience. In addition to firearms, players can use jetpacks for more agile movement and switch between different abilities with mechanical prosthetics. Gunzilla claims that, excluding skins, they plan to launch over 260 unique weapon combinations in the future.
In terms of map design, OTG has created the largest battle royale map to date. Players can use the character's jetpack and special abilities of prosthetics to navigate between skyscrapers, enabling rapid aerial movement. This highly flexible movement system not only adds excitement to the game but also encourages a more aggressive playstyle.
It is worth mentioning that OTG introduces an Extraction Royale mode. Players collect HEX cubes on the map, which represent blueprints for weapons, accessories, or prosthetics.
Players need to bring these cubes to specific extraction points for decoding, while also defending against opponents who covet their loot. After a successful extraction, these items will be '3D printed' into the player's inventory, essentially minting the assets onto the blockchain in the background.
The game does not have a traditional in-game store; all items entering the economic system and peer-to-peer market are obtained by players through in-game extraction mechanisms and minted onto the chain.
This design not only ensures the scarcity and true ownership of items but also adds more dynamism and player engagement to the game economy.
02 Can it challenge the mainstream?
The 'semi-finished products' launched by OTG can become hugely popular games on the Epic Store, once again giving Web3 gaming enthusiasts a glimpse of 'hope'.
According to AVASCAN data, as of October 15, the trading volume on GUNZ has exceeded 50 million, with over 5.6 million unique wallets. Additionally, data from SullyGnome shows that the game has surpassed 2 million hours of watch time in its first week.
From being relatively unknown to gaining unprecedented popularity among mainstream players, Gunzilla Games' success in marketing and promotion is a key factor, alongside the solid quality of the game itself. Sponsoring well-known game streamers like Ninja, Timthetatman, and Ludwig Ahgren to live-stream gameplay attracted significant attention and subsequently drew more streamers and influencers to participate.
However, whether OTG can maintain its attention after gaining significant visibility is difficult to predict.
First, there are no clear signs that games will be favored in the current market in the fourth quarter. Additionally, a large number of releases are expected in the next six months, which may intensify competition and further disperse liquidity.
For example, notable names include:
EVE Frontier
A single-fragment survival game set in a dark, dystopian space where humanity struggles to survive and rebuild the shattered world. In March 2023, CCP announced it had raised $40 million for the development of this game.
MetaCene
A blockchain-based MMORPG set in a surreal post-apocalyptic world where players redefine civilization using various NFTs.
Avalon
Built using Unreal Engine 5 and integrating multiple blockchains; players explore the world using their NFTs while contending for cryptocurrency and rare NFT rewards; the game's setting is inspired by the legends of King Arthur and an alternative history of the Knights Templar.
Big Time
A multiplayer action role-playing game suitable for PC, combining fast-paced combat with an open game economy.
Summary
As more crypto games enter the mainstream market, the industry is poised for significant growth. It is hoped that games like Off The Grid, EVE Frontier, MetaCene, and Avalon can positively influence sentiment in both the Web3 and Web2 markets. Such content should still be viewed as the best Trojan horse in the cryptocurrency sector, providing reason to be optimistic in the short to medium term.