- Web3 game development company QORPO highlights significant shortcomings in the play-to-earn space and emphasizes a drastic change needed to create games with sustainable tokenomics and user retention. The play-to-earn model has inherently high entry costs and often lacks engaging gameplay elements, leading to user disappointment. Furthermore, games that rely on NFT sales face issues with insufficient traction and continuous collectible release pressure. These games often struggle to balance between attracting new players and maintaining rewards for existing users. QORPO Game Studio advocates for multiple revenue streams, quality gameplay experiences, and diversified game offerings as potential solutions to address these challenges in Web3 gaming.
- Decentralized exchange protocol PancakeSwap #v3 has launched on the #Ethereum Layer2 scaling network Linea, supported by Consensys, and will continue its multi-chain expansion. PancakeSwap states that Linea will help users reduce gas fees, speed up transactions, and increase capital efficiency. Currently, PancakeSwap offers exchange and liquidity supply functions on Linea, with plans to introduce its farming features to Linea in the coming months. Initially built on #BNB Chain, #PancakeSwap now also supports Ethereum, Aptos, Polygon zkEVM, zkSync Era, and Arbitrum One.
According to Fortune report, the non-fungible token (NFT) market has experienced a significant downturn, with monthly sales decreasing from approximately $6 billion in January 2022 to just under $500 million in July 2023, according to CryptoSlam. This situation is leaving startups that raised millions during the NFT boom struggling to stay afloat.
One such example is RECUR, a firm that hosted #NFTs for corporate brands such as Hello Kitty, Paramount Pictures, and Nickelodeon. The company raised $5 million in seed funding in March 2021 and an additional $50 million later that year at a $333 million valuation. However, RECUR recently announced it would wind down operations permanently in November.
