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TLDR :
Cambria raises $2M
Legend of Ymir launches globally
Kuroro Beasts launches its token
🗞️ NEWS
CAMBRIA RAISES $2M IN A STRATEGIC ROUND
This Tuesday, Cambria announced it raised $2M in a strategic round led by BITRKAFT and Sky Mavis. The news is coming right after the successful Islands NFT sale of last week, in which they raised $1.2M, and only a few weeks before Gold Rush S3
The fact that it’s a strategic raise might be telling that the token launch isn’t too far out. Yet, I believe it won’t be part of S3
It marks Cambria’s 2nd raise from BITKRAFT, as we saw participation from the VC during its $2M Seed Round announced in July 2024 as well. At that time, we also saw 1KX on the table
Outside its previous NFT sales (Founders, Cores, and Islands) and fundraising rounds, Cambria has generated an estimated $1.5M in fees from the Duel Arena and 61.2 ETH ($110,000 at the time) from Season 2 of Gold Rush
With over $7M in total funding and the fact that Cambria is only a team of 10-11 FTUEs (as of January 2025), I believe they have a good amount of runway. Although I do expect that they have expanded the team since then
They’re also expanding their engineering team with this latest raise
On the topic of Cambria’s upcoming token, we have little information on the how and what, besides that playing in the previous seasons (see Trinkets) will lead to some type of allocations at TGE. Yet, Ben has been vocal about his thoughts on utility tokens:
Ben on the topic of utility tokens: “people don’t have a problem with utility tokens. they have a problem with extraction schemes that are dressed up as utility tokens”
To add: “why do teams and investors need allocation into a game utility token?”
The team has been open about the fact that they’re experimenting with Apptokens, and I’m quite curious about what their integration might look like
My best guess would be an approach similar to FDF, which essentially uses a 2-token model:
All player tokens (i.e., utility tokens) are nominated in USDC (or Gold). This shifts speculation away from the volatility of the token and instead anchors it on the performance and memetic value of the players
Their second token, FUN, has yet to launch and will presumably have a role in the meta performance of the Sports.fun ecosystem. The FUN token will be subject to token market swings
So, I predict that Cambria’s utility token won’t touch the core game loop
With S3 coming this November, and I assume their token launch will be quite quick after, there’s a lot to be excited about. Especially, in this slump of crypto gaming, the attention will easily center out Cambria once again, like it did in S2
LEGEND OF YMIR’S GLOBAL LAUNCH
WeMix is on a generational run of producing P2E-based MMORPGs: MIR 4 ($70M+ in est. revenue), Night Crows ($200M+ in revenue), ROM:Golden Age (?), and now Legend of Ymir (LoY), which just had its global launch
LoY is developed by a studio called Yanina Games and then published by WeMade. So far, the game is being praised (on CT) for its beautiful graphics
Although it’s mentioned not to be too different from its predecessors, like MIR 4 and Night Crows
The game introduces an auto-combat feature (common among Wemade titles) to “compete with the bots” (Daniel Droege), but also makes gameplay less grindy, although key gameplay decisions still require a player’s input
As a P2E-marketed title, LoY attracts farmers, but also lots of bots. Heavy botting is a common complaint across Wemade’s MMORPGs. However, the company treats it more like a feature than a bug. It’s essentially part of their monetization model, which has proven to be (very) successful
An interesting aspect of the game is that it uses an open server system, where the world grows and shrinks based on the player population
LoY also introduces “partner’s server”, a system in which players and creators “can acquire server operation rights through auctions, design and host their own events, and shape the management direction of their servers” and “all while building a community and generating revenue.”
Similar to selling in-game land, but wrapped differently. It’s also contradictory to how UGC platforms like Fortnite and Roblox work, as this introduces a paywall to UGC
I do believe it adds as a gateway to earning as well, hence the monetization part of it
Through “server battles”, different communities representing their servers will compete in large-scale PvP wars. This aspect of the game plays into an esports angle, as LoY will introduce a yearly global tournament for the YMIR Cup
Originally, LoY was launched in April this year in South Korea (SK). At the time, it also had an NFT and blockchain integration. And it seems the crypto layer of the game might have been overhauled with this global “relaunch”
The game employs “second-generation tokenomics”, which means that the WEMIX token will be integrated at a core gameplay level. A big change compared to previous titles like MIR 4 and Night Crows, which had their own primary in-game tokens
In LoY, players can earn G-WEMIX through “inter-server content” (competitive and time-limited gameplay). The token is 1:1 exchangeable to the WEMIX token. Interestingly, the team created a reserve of ~$7.5M USDC to stabilize this system (like gold-backed dollars back in the day)
The exchange of G-WEMIX/WEMIX is mentioned to happen “within the limits of the WEMIX Reserve” to ensure sustainability
LoY also uses “Mileage”, a reward that players earn by depositing or staking gWEMIX, sWEMIX, or Yggdrasil Coins (craftable event currency). Mileage can be spent in a special shop to buy items and incentivizes players to hold and stake WEMIX tokens
Overall, Wemade’s history of launching MMORPGs represents their journey in experimenting and learning from crypto-based designs (surprisingly, whilst being successful). Every title just slightly innovates on gameplay and economy, and they continue that cycle…
KURORO LAUNCHES ITS TOKEN?
Just today, Kuroro Beasts launched its KURO token through Believe (the ICM launchpad). From the looks of it, this launch was quite sudden (stealth). There wasn’t any major build app for the TGE, nor was key information (e.g., tokenomics, vesting, dates, etc.) shared in advance, plus it launched on Solana (?)
So let’s get into this token launch before we take a look at this project’s history.
In typical memecoin fashion, KURO went up for 15 minutes, reached a peak of around $20M FDV, until the chart started dumping aggressively. Now, trading at ~$2.6M.
It wasn’t the community that made the most with this launch, but the “snipers” that did. The top wallet by PnL made a $405K profit, scooping up 73M tokens at a $29K average market cap. According to SoloJay, it was a coordinated group snipe
Remember how the founder, Sage, got around 50 Overworld presale allocations, hyped the collection, and then dumped all for 50 - 60 ETH (or more) in total?
Sage himself commented on the launch and clarified that the liquidity pool is $400K+ and not $40K+. That they’ll be able to fund their operations through trading fees. Plus, the launch was likely and simply sniped
Kuroro Beasts has had a fairly long history (for crypto) and started in 2021. The initial goal was to build a Pokémon-like game in crypto (very original), called Kuroro Wilds. Over the years, development continued, and a new Kuroro-based title was added, called Beast Brawl
In April 2024, they announced they raised $2.5M in a round led by Animoca and Sanctor Capital
In September 2024, they joined the Ronin network through The Forge
In late 2024, they started developing a Telegram game called Kuroro Ranch
Along the way, they hopped chains multiple times, decided it was a good idea to work on an AI agent, and Sage decided to become a content creator for a little while as well
Overall, over the last few years, this team has promised many things, flip-flopped a couple of times, but never delivered anything, whilst selling a couple of NFT collections along the way
And now, the cherry on top is the airdrop recipients (players and NFT holders) receiving dust, while the “snipers” walk away with all the profit. Absolute cinema…
Is this simply incompetence, or was it malicious behaviour?
FLASH NEWS
The Founder’s Pack Sale for American Football.Fun is launching on the 4th
Ungodly reveals some of its gameplay during the Xbox Showcase
YGG deployed another 50M YGG tokens into the yield-focused Ecosystem Pool
The XR One Network couldn’t raise new funding and ceased operations
🆕ALPHA CORNER
Early Games: None for this week.
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