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Tilting Point partners with Polygon Studios and LootRush raises $12 million

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SpongeBob and mobile game Warhammer announce Polygon partnership

Free-to-play mobile games publisher Tilting Point has entered into a multi-year partnership with Polygon Studios to bring 10 Web3 games to market over the next two years. Polygon Studios and Tilting Point plan to help native Web3 game developers scale their games alongside free-to-play development partners and studios looking to bridge Web2 to Web3 games.

The first three titles in the works are Korean developer AN Games’ interstellar strategy game Astrokings, which Tilting Point acquired earlier this year; virtual slot machine game The Walking Dead: Casino Slots based on the AMC series; and “Chess Universe” from Tilting Point’s partner developer Kings of Games.

Polygon Studios CEO Ryan Wyatt shared the company’s enthusiasm for “promoting user ownership and immersive gameplay” in a statement. Founded in 2012, Tilting Point’s most popular free-to-play games include Warhammer: Chaos & Conquest, Narcos: Cartel Wars, and SpongeBob: Krusty Cook-Off..”

TEAM DAO Raises $5M Series A Round

The decentralized autonomous organization Tokenized Esports Asset Management or TEAM DAO describes itself as the Metaverse’s first Guild 3.0. The non-fungible token (NFT) fantasy esports league recently announced a $5 million Series A funding round co-led by Krust Universe and Animoca Brands. Other investors included Great South Gate, Shima Capital, Anti Fund, Algorand, GSR, NGC Ventures, Libra Ventures, Nexo Capital, EX Capital, CoinHako and Octava.

Krust Universe is an investment arm of South Korean tech giant Kakao. Animoca Brands also recently acquired two major video game publishers: Eden Games and Darewise Entertainment.

According to TEAM, the new funding will be used to further develop its technology infrastructure, expand the team and rapidly grow its player base. Its designated supreme leader stated that the company spearheads a gaming culture-defining ecosystem for “noobs, amateurs, and mid-tier gamers.” He added that the forthcoming public sale of TEAM tokens “[catapult] Introducing crypto into everyone’s daily life.”

Axie Infinity remains the game with the highest market cap

According to Crypto Head’s latest report, which ranked the top 50 play-to-earn (P2E) games on ChainPlay, Axie Infinity has a fully diluted market cap of $15.81 million. Cross Link was a close second with $13 million, and Decentraland third with $4.63 million. The average market cap value of all crypto games examined is $1.25 million.

Axie Infinity is the most searched game in the last six months with over 29 million searches worldwide. The second and third most searched games, Bomb Crypto and Splinterlands, each had fewer than five million searches worldwide.

Crypto Head also studied the popularity of crypto twitter and games with the most expensive tokens. Axie Infinity has also secured a place on these lists.

LootRush aims to bring NFT gaming into the mainstream

LootRush, an NFT marketplace for crypto players, on Thursday closed a $12 million seed round led by crypto firm Paradigm with participation from Andreessen Horowitz. Other supporters included Y Combinator, Brex founders, the founders of Axie Infinity, Plaid, Wildlife Studios, Dapper Labs and The Chainsmokers.

According to the company LootRush aims to become a PC games distributor like Steam, but for blockchain and NFT based video games. It aims to remove entry barriers for players to play Web3 games and is known for offering low-cost NFTs. According to a blog post, “We will make it possible for players to own NFTs and we will help NFT owners find great players.”

Other GameFi news

STEPN is a Solana (SOL) based NFT mobile application that leverages GameFi elements like Move-to-Earn to allow NFT sneaker holders to earn tokens while walking. This project is designed for fitness enthusiasts and those who want to do their daily steps. It is leading the move-to-earn movement and urging users to redeem Green Satoshi Token (GST).

See Also: How Blockchain Games Are Creating Entire Economies In Addition To Their Gameplay: Report

Japanese video game publisher Square Enix intends to sell its popular Tomb Raider franchise for $300 million and invest the proceeds in blockchain, artificial intelligence (AI) and cloud computing technologies. Cointelegraph previously revealed Square Enix CEO Yosuke Matsuda’s plans to integrate NFTs into play-to-earn blockchain games.