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TLDR :
The Sandbox x SANDchain
Rekt Games raises $7M
EVE Frontier migrates to Sui
🗞️ NEWS
SANDBOX LAUNCHES THE SANDCHAIN
Last week, The Sandbox announced it’s officially partnering with the SANDchain (SC), which is being built on Caldera. “The Creator Chain” that aims to unite creators, fans, and builders into one onchain ecosystem (testnet on October 14)
According to Kate Irwin, the SANDchain Foundation is more of a vehicle, without members, and it will only have a director who will decide who builds on the chain
Notably, this news came just a few months after The Sandbox’s restructuring and Animoca taking more control over the company
The SC will have multiple layers to its economy:
SANDpoints: a chain-wide reputation and loyalty system
Creator Points: a tracking system for individual creators, + it will grant access to token allocations
Creator Tokens: tradeable assets tied to a creator that offer access and perks
Two types of Vaults:
Patron Vaults: loan pools that creators or projects can take from. Investors who fund the pools earn yield and loyalty points
Creator Vaults: aggregate creators’ earnings to create a predictable loan repayment
The existing SAND token will be the universal currency for the SC, and is hereby expanding its use beyond The Sandbox, aiming for a bigger market: the creator economy (valued at $250B)
Despite broadening its horizons, the SAND token didn’t move much (up or down), and is still trading at around a $700M MC
This quote from Robby Yung in a The Block article on The Sandbox caught my attention:
“Where the monetization frameworks of traditional creator platforms are typically rigid and very limiting, we see an opportunity for token bonding curve mechanics to provide something much more dynamic”
Remember the previous rumor of how the company was going to bring a memecoin launchpad? This quote may be telling of that they’re launching a Pump.Fun-like streamer coin model (through Creator Tokens)
Other than a chain, The Sandbox is heavily investing in AI across operational efficiency and user-facing creation. Regarding the latter, they have started to train custom AI models and work on user-facing AI tools
It announced a partnership with Rosebud AI, a vibe-coded games platform
Furthermore, they’re developing a mobile version of the game. Plus, they will start to increase the frequency and consistency of major platform events (expand LiveOps)
Overall, the SC appears to be a “desperate” attempt to utilize the Sandbox’s Treasury (est. $100-$300M). Unless it can create a Pump-Fun-like moment with CCM, but for gaming-focused creators, I don’t see it moving the needle at all
REKT GAMES RAISES $7M
A couple of days ago, Rekt Games announced that it had raised $7 million from Phoenix Group and Cypher Capital. Back in November 2022, the studio raised $1.5M from Cypher Capital in a round to “develop a metaverse gaming ecosystem”
Back then, the vision was to create a product called Unseen, a “fully interoperable decentralised virtual ecosystem centred around gaming, entertainment, and real-world utility." (a mouthful)
Now, they’re building 3 games and a decentralized game launcher
The decentralized game launcher will provide a “new way to compete, earn, and own your wins”. A platform with unified progression, a built-in creator economy, interoperable assets, a P2P marketplace, and a compete to earn feature
The three games they’re building in-house include:
Spludge Wars: a 3rd-person shooter, with a paintball theme (you can sign up for early access now)
Cryptorun: an automated racing game
Rektified: a roguelike battle-simulator
Considering the games they’re building, the marketing, and the theme they’re using, it’s clear the aim is to capture the crypto crowd. However, a concern of mine would be whether they’re interested in these types of games
Additionally, I am sceptical about the game launcher or ”Steam of Web3” model. As history has shown, the only successful game platforms grew out of successful products or existing distribution (verticalization)
We have yet to see whether Rekt’s games can attract a player base, which in turn would make other titles interested in being published on the platform
Overall, Rekt Games is a bit too reminiscent of the past (2022 - 2023) for my liking, yet I hope there’s something I’m not seeing here
EVE FRONTIER MIGRATES TO SUI
Just yesterday, the onchain space MMORPG, EVE Frontier (EF), announced it is migrating to the Sui blockchain. From the team: “Building on Sui gives us seamless integration of blockchain elements in the game, scalability to support our long-term vision, and a developer environment for both aspiring and experienced creators”
EF’s developer environment will introduce something called “Smart Assemblies”, allowing players to build and deploy new programmable structures and systems, creating a player-moddable universe
In a nutshell, going for Sui is largely a tech-driven decision. Previously, EF was using the EVM L2 Redstone built on Optimism
EF aims to develop a game that “literally goes on forever” (a vision that emerged in 2009), and any element that introduces centralization to the game is a weak point in the team’s forever plan. Hence, the game is fully onchain
In an interview with Blockworks, the CEO of EF said the following about the game’s blockchain strategy:
“Conflict creates destruction that takes that loop (referring to the core game mechanics) — and we have that look pretty tight from Eve — then we add this energy mechanic. That’s where the token comes in,”
On the origins of the game: EVE Frontier started as “Project Awakening”, which was first announced in March 2023, and coincided with a $40M raise led by A16Z, with participation from Makers Fund, Bitkraft, Nexon, and others
In early 2024, we got the first details on a public playtest, and later that year, the game rebranded to EF. This year, it announced an early access program to allow players to join development cycles (playtests) and opened up a free trial period in September
Overall, it’s exciting to see how EF embraces the blockchain to create an environment that empowers the existing behaviors of EVE Online through Smart Assemblies. To add, its economic design will be one to be studied
Yet, I have my concerns about how niche a game EVE Online already is, and the fact that hardcore PC gamers are generally the most vocal against blockchain and crypto. So, we’ll have to see how that works out…
FLASH NEWS
Phygital acquired RipNReveal: a pack-opening focused streaming platform
Football.fun is bringing the world of sports onchain + launching the FUN token
Pixels Dungeons launched social dungeons: play by interacting with a post
Project O opens up its round to ByteStreet (NeoTokyo investment arm)
Reaper Actual’s Foundation Pack Series 1 sale goes live today
Power Protocol: “Power runs deeper than you think” (website update)
Moku’s Booster Box presale is starting today (100 RON per ticket)
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