Web3 Weekly 10/19

🟨 The Forge is Alight, Win $1,000,000 with Owned Game League, Fortnite Creator Economy Update, and more big gaming news.

Author

Web3 No Re
October 19, 2023

Gm players.

What a week it has been! Unless you’ve been living under a rock there’s no doubt you saw the news on our socials but in case you missed it - Web3 No Re is now a member of the Blockchain Game Alliance!

We are still definitely noobs to this all but we appreciate each one of you reading our thoughts on every week. Also we are very much professional and have a Calendly now so any projects looking to meet, you can book in time with Griff & Tom here.

Anywho, you know the drill. Here’s the slate for today.

  • The Forge is Alight

  • Change Log

  • Win $1,000,000 with Owned Game League

  • Fortnite Creator Economy Update

  • Other News

The Forge is Alight

Forge has launched just after announcing their $11m raise led by Makers Fund, BITKRAFT and Animoca Brands. The cap table strength with industry veterans doesn't stop there, with Twitch, Riot, and TSM founders, to name a few of the cohort participating in the round.

Forge has created a single gaming profile that links all your gaming experiences together - regardless of platform or title. As well as building your gaming identity, users can complete quests to earn XP and, eventually, rewards. The quests range from simple tasks to get you started, such as connecting gaming accounts to your Forge account to social engagement with X posts. Oh yeah, of course, it's about your gaming life, so you also complete quests by earning achievements or logging game time. It rewards you for playing the games you already love and games to be discovered via their game partners.

I created my Forge account this morning, and it's been plain sailing so far. After connecting my Discord, Steam, and Twitter accounts, I'm already level 5 and have yet to start going through any quests with their game partners. As for the rewards, my first will allow me to claim an Amazon Gift Card or get more XP to complete the Forge Season Pass. If you want to get involved, sign up here.

Change Log

Win $1,000,000 with Owned Game League

Just six weeks after the Creator League fallout, a new tournament mixing traditional gaming and blockchain enters the arena - Owned Game League. With a prize pool exceeding $1M, players can win cash, digital assets, gaming NFTs, and other exclusive rewards. The best part? Entry is entirely free. Gamers are invited to participate, explore new games, and reap the benefits.

Diving deeper, Owned is more than just a gaming platform. It's an emerging ecosystem designed to bridge games, gamers, and creators. Their commitment to the community is evident, as all resources garnered from partners are reinvested into the prize pool, ensuring a rewarding experience for participants. The integration of blockchain technology serves a dual purpose: verifying GamePass holders and facilitating a seamless distribution of prizes.

Anticipation is building, with the league set to commence in mid-November. They have learned from the Creator League woes (which we discussed last month) and have been upfront about using blockchain in the project. Albeit a light FAQ on the topic, it's a step in the right direction. Is this the next iteration of MLG and Gamebattles? We certainly hope so and have signed up for the chance. You can, too, by pre-registering here.

Fortnite Creator Economy Update

Fortnite is shaking things up with its engagement payout formula. Starting November 1st, creators will be rewarded when players spend V-Bucks a week before or after engaging with their custom-made islands. This new metric is an addition to the existing ones, like time played, player popularity, and retention. The aim? To more accurately recognize a creator's influence on the shared engagement payout pool and the overall growth of the Fortnite economy. And guess what? The first payouts reflecting this change will be made on December 30th.

Creator Economy 2.0, the engagement-based payout system, was introduced in March. It's designed to reward those who craft experiences in Fortnite, with 40% of Fortnite's monthly net revenues up for grabs. The recent update emphasizes the importance of V-Bucks spending as a metric, highlighting the symbiotic relationship between player spending and creator rewards.

Whether you're an investor, player, or builder, there's no denying that Epic Games is pushing the boundaries of the creator economy. When players have fun in Fortnite, they're more likely to spend. And now, that spending will further fuel the creative minds behind your favorite custom experiences.

Other News

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