Spielworks, a leading blockchain startup specializing in gaming and decentralized finance (DeFi) solutions, launches its Web3 gaming accelerator, Wombat X to empower Web3 gaming projects to enhance their gaming experience and grow their audiences with the Wombat ecosystem. Highlighting the list of partners in the accelerator are Cronos, the first EVM-compatible Layer-1 network built on Cosmos SDK supported by Crypto.com and more than 400 developers and partners, and Newcoin, a Web3 infrastructure integrating economic, social, and cultural exchanges into an intuitive flow, solving network fragmentation problems. Web3 games enrolled in Wombat X gain access to grants, education, and the Wombat community of gamers, the biggest Web3 gaming community.

Web3 gaming was still able to raise $4.5 billion in venture capital last year despite harsh market conditions. Still, an overall developer shortage and a flawed UX plague the industry, effectively holding the industry back in its efforts to poach traditional gamers. Furthermore, many critics also point the finger at the lack of sustainable models and solid content-creator strategies as reasons for Web3 not being able to be a reliable gaming ecosystem.

The Wombat X accelerator enables innovative Web3 games to register and to bootstrap Wombat’s audience. With Wombat’s massive audience and Cronos’s established Web3 ecosystem, each game will receive invaluable exposure to its gaming audience for free, coaching and fast-tracking in Cronos’s own grant program. For Newcoin, its Web3 graph infrastructure emphasizing high-end fashion and creators makes it a natural fit for Wombat X’s focus on gaming to enhance the user experience.

The program includes three yearly classes covering the industry’s best practices, with at least five games being accepted per class. Ultimately, Wombat X revolves around providing members with the tools to build a strong foundation, with a focus on furthering growth opportunities through user acquisition and developing superior infrastructures.

Advertisement

Other participants in the Wombat X accelerator include:

• Avicenne: a Web3 development studio creating digital products in a decentralized space, helping startups build and ship impactful MVPs.
• EOS Network Foundation: a nonprofit supporting the EOS Network, which powers the Web3 economy by providing a robust smart contract functionality that enables developers to build quality dApps.
• Lifty: a Web3 gaming platform providing analytics for numerous blockchain games, empowering users to assess projects before joining.
• Beamable: a Web3 gaming infrastructure platform allowing users to rapidly add social, commerce, content, and LiveOps features through an in-game marketplace.

To apply for Wombat X, applicants must meet these requirements:

• A playable demo release
• Integration with Wombat as preferred login option
• Integration with Cronos or one of Wombat’s supported blockchains (Wax, Polygon, BNB Chain, Ethereum, EOS, and more)
• A share of 0.3 percent of your token supply for Wombat’s audience
• Integration with Wombat’s Tracking software development kit (SDK)

Spielworks has built one of the fastest-growing blockchain gaming ecosystems in the market, featuring over of 3 million signups and 65,000 daily users. The ecosystem incorporates its multi-chain non-custodial Wombat Wallet, crypto rewards platform Womplay featuring 40 AA and AAA supported titles, and Top 20 NFT staking game Wombat Dungeon Master counting 1.5 million staked NFTs.

“Web3 gaming is in a beta stage currently and there is a pressing need to establish best practices around game development to ensure the industry’s long-term sustainability,” says Adrian Krion, Spielworks’ CEO and Co-Foudner. “By working with a wide range of promising Web3 gaming projects and startups, Wombat X aims to facilitate a more mature ecosystem. Our unique program provides a diverse educational curriculum while exposing our participants to Spielworks’ Wombat platform, the biggest Web3 gaming platform. Needless to say, we and all our partners can’t wait to launch.”

The metaverse gaming market is valued at US$ 51 billion in 2023 and is forecasted to jump to a size of US$ 1,300 billion by the end of 2033, expanding at an astonishing CAGR of 38.2% from 2023 to 2033. The purpose of the metaverse is to enthrall users and provide them with a remarkable experience. The metaverse helps create a more advanced, three-dimensional environment where user interaction and built-in gameplay are more individualized than in a two-dimensional setting.

The metaverse is, without a doubt, a fantastic way to create augmented reality, including a significant connection to the rest of the world, while participating in metaverse video games, live streaming of games, play-to-earn gaming with the non-fungible token (NFT) minting and trade, value exchange with crypto, etc.

Huge Role of Blockchain Technology in Transforming Metaverse Gaming”

The metaverse gaming industry in the United States is currently experiencing significant growth, which is driven by factors such as technological advancements, the popularity of gaming in virtual worlds, live streaming and e-Commerce possibilities, industry innovation, and the emergence of mobile gaming and high-speed internet connections.

The integration of blockchain technology is transforming metaverse gaming in the United States by allowing for the secure buying, selling, and trading of virtual assets, creating a new economy within the virtual world. The metaverse gaming industry in the United States continues to innovate with developers experimenting with new technologies and gameplay mechanics to create increasingly immersive virtual worlds.

Advertisement

What is Metaverse Gaming? What are its Technicalities?

Metaverse gaming is a form of gaming that takes place within a virtual world, where players can create, interact and engage with each other in a shared space. The concept of the Metaverse has been around for many years, but with advancements in technology such as virtual reality, blockchain, and artificial intelligence, it has become a reality.

The technical possibilities behind the Metaverse are rooted in the development of virtual reality technology. VR technology enables users to enter and interact with a fully immersive digital environment, where they can experience a range of sensory stimuli, including sight, sound, and touch. Additionally, blockchain technology and Non-Fungible Tokens (NFTs) provide the infrastructure for unique digital assets and ownership within the Metaverse.

Key Takeaways from Market Study

• The global metaverse gaming market is valued at US$ 51 billion in 2023.
• Global demand for metaverse gaming is projected to surge at a CAGR of 38.2% from 2023 to 2033.
• The market for metaverse gaming is anticipated to reach US$ 1,300 billion by 2033.
• Hardware accounts for 48% share of the global market in 2023.
• North America is set to be the most lucrative market for metaverse entertainment.

Competitive Landscape

The competitive landscape for the metaverse gaming market includes a mix of established gaming companies and new startups. Some of the key players in the market include Roblox Corporation, Epic Games, Unity Technologies, Linden Lab, Decentraland, and Somnium Space. These companies are investing heavily in research and development to create more immersive and engaging virtual worlds as well as exploring the integration of new technologies such as blockchain and NFTs.

The market is expected to become more competitive as more companies are entering the space and existing players are focusing on innovation.

Some of the recent developments in metaverse gaming are :

• Epic Games and Haedan partnered in September 2022 with the intention of investing US$ 30 million in the creation of Haedan’s metaverse gaming infrastructure.
• Tencent Holdings Limited announced the opening of an F1 studio under the TiMi Studio Group subsidiary in October 2021 with a focus on metaverse development.

These insights are based on a report on Metaverse Gaming Market by Fact.MR.

Advertisement

XLA, a community-driven organization of video game and entertainment industry professionals, will today announce ‘Metasites’; a modular 3D internet framework leveraging metaverse, cloud, and AI technologies.

Funded with an initial $100M USD, XLA Metasites empowers users to transform virtual worlds by creating unique content. XLA Chief Product Officer Alexey Savchenko will present a demo of Metasites at the Game Developers Conference (GDC) in San Francisco this afternoon during a panel called “Emerging Approaches: What the Metaverse can teach us about Social and Narrative Design through Synthetic Media”.

The presentation will reveal Metasites’ high fidelity graphics, core experience, instant access to the system in the cloud through the browser, OpenAI’s GPT-3.5 integration powering non-active characters and their behavior, virtual assistant IVEE, ability to semantically analyze text and generate 3D scenes in UE5, and many other features. Metasites allows creators to deploy Unreal Engine 5 content and connect to the XLA ecosystem of features and services.

“We call them Metasites, and the idea here is that every one of these locations is part of an infinite network of 3D, explorable spaces. Like hyperlinks, portals connect these worlds, and the core infrastructure operates on a series of open protocols and standards – much like today’s web,” Savchenko will say. “We strongly believe that the future of the internet is in 3D and are looking to partner up with creators and brands from all spheres and industries to build it together.”

Advertisement

Access to Metasites for individual creators and enterprise clients will be based on a revenue share model, providing every user full control and management of their content. Users can access virtual assets and various tools, including a versatile SDK, experiences editor, inventory and item management system, payment processing, marketing tools, and more. XLA also aims to provide a seamlessly interoperable encounter related to digital items – with various functionalities connected to inventory objects within different environments.

“What we’re creating,” Savchenko will say, “is an evolution of the internet and new form of storytelling – authors shaping worlds that create their agency, presence, and stories, accessible across multiple platforms. It’s not about bringing games to new audiences. It’s about making it easier to communicate, educate, commerce, play, and create while being justly rewarded for your actions.”

Metasites will be revealed at GDC at 4:40 PM PDT in Room 24, West Hall, Moscone Center, alongside Hexagram Founder and CEO Rob Auten. The framework is set for closed beta in summer 2023, with enterprise and creators programs opening next quarter and full commercial release expected in Q4 2023.