Newsletter #35: Up Only

From the Editor

This year was a true rollercoaster. The asset prices of many of the top games remained clogged at the bottom. However, the general trajectory of the sector appears to be up; let’s look at why:

High Quality games are coming

It’s no secret, folks, that early games in space were no fun to play. They acquired hordes of users through innovative economic models like "play-to-earn." But the industry has slowly learned that this strategy is not sustainable, and Web3 game developers are pivoting towards creating high-quality AAA-style games. Imagine your favorite Web2 games (COD, Fortnite, and Valorant), and web3 game developers such as Gala Games and Shrapnel are looking to provide that level of gaming experience to their audience.

Scams are dying

Unfortunately, like every emerging sector, web3 gaming was also plagued by a lot of scammers who rug-pulled their investors. In time, a lot of these scams that were once thought to be real projects have been exposed. While there are still some shameless scams running around, Web3 as a community has matured enough to nip them in the bud. Players now demand solid gameplay plans from a project instead of a new tokenomic model, and that’s progress.

Massive initiatives by industry leaders

Nearly every big player in the industry has set aside funds to grow the portfolio of applications that run on their platform. Binance, Polygon, ImmutableX. Investment firms like a16z and Sequoia have also launched web-centric funds that are actively investing in promising projects in the space. Despite the bear market, web-based gaming projects attracted an estimated $3.4 billion in 2022.

ImmutableX is front-running L2s in web3 gaming

The Layer2 chain has the most funded chain-exclusive games in the Layer2 ecosystem, according to a recent Delphi Digital report.

The reason behind Immutable's success in the sector is that games prefer infrastructure that is reliable (high uptime), affordable, and secure. There are only a few chains in Web3 that possess this trifecta.

Another recent W for Immutable was that nine games that were built on its platform were recently nominated for the inaugural GAM3 awards. Two of them, namely Illuvium and Gods Unchained, won the title of best game in their respective genres. We recently wrote a piece on some of the best games from Immutable; you can check it out here.

Web3 gaming is changing folks, soon enough some of the best games in the world will use web3 tech. Visit our Earn platform to play and earn USDT, and discover the hottest Web3 games if you're new to the space.

Web3 Gaming News

Alpha

Tegro Events

Unleashing Tegro Pride

Tigers, we’re revamping our community structure to give our members the opportunity to get more involved with Tegro. Instead of passively watching from the sidelines, join us in building the future of Web3 gaming. Are you a developer, a writer, a designer, a podcaster, or an aspiring singer? No matter what your talent is, you’ll find a lot of opportunities to showcase it to a global community and meet many like-minded people. So what are you waiting for? Join the pride now!

Twitter Spaces

Last week, Tegro's most dedicated members were called in to discuss their journey so far and future plans. Listen to it here.

Coming up this week

Unveiling Creative Champions

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