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TLDR :
Honeyland gets acquired
Fantasy Top migrates to Base
Ronin introduces profiles
🗞️ NEWS
HONEYLAND GETS ACQUIRED
Last week, Honeyland shared that READY! (Bravo Ready Games) has acquired them
READY! is known for the shooter BR:1 Infinite Royale, a “real money extraction shooter”. The game that introduced the concepts of “pay-to-spawn and kill-to-earn”
The founder of the company ended up exiting a company called Compete.gg, an online esports tournament with cash prizes
Honeyland is a mobile crypto-native strategy/resource game that has been in development since 2021 and had its public launch in November 2023
The team and CEO (Corey) can be commended for their relentless shipping over the years. So, I’m happy to see they got acquired
In 2024, the studio launched a Telegram game as well, called TONs of Dungeons. But it looks like it didn’t come off the ground
They held a space that spoke on the acquisition. Here are some of the highlights:
READY! will focus on scaling the infrastructure and operational efficiency of the studio. Furthermore, they plan to integrate risk-to-earn mechanics, expand on PvP, add prize pools, and host competitive events
Regarding the token, HXD will remain the only one. There will be no plans for CEX listings, but the team will explore funneling revenue into buybacks
READY! launched its own $READY token in December 2024. The token is now trading at a $3M FDV
In 2022, the company raised $3M in a round by Shima and Solana Ventures. In that same year, they raised another $500K, led by Ryze Labs. Both these rounds were used to build out its extraction shooter
Makes me wonder where the funds are coming from for this acquisition. Or I am missing the fact that BR:1 might have been (very) profitable
Honeyland’s HXD token launched in May 2023 and is now trading at a $1.9M FDV
Hexagon Studios previously raised $4M (at a $20M val) in 2023 to build the game
We’ve seen a bunch of M&As (OS, ME, Privy, etc.) in crypto over the past couple of months. Is it M&A season?
FANTASY TOP MIGRATES TO BASE
The fantasy trading card game, Fantasy Top (FT), where you “bet on your favorite Twitter influencers,” officially migrated to Base
As part of the launch, they introduced a F2P version of the game, built to remove the barriers to entry of the game. A smart move for onboarding, considering the costs to have a competitive deck are quite steep
The F2P experience is mentioned to be more lightweight, intuitive, and easy to pick up, teaching the core mechanics of the game. Plus introduces a new “Training Camp” mini-game (quiz-like influencer game)
The migration also comes with an update, Fantasy V3, including an optimized frontend, improved UI/UX, and improved mobile performance to support a larger player base
They introduced Fantasy Academy, a new content hub to educate, entertain, and empower the community
Including onboarding tutorials and strategy breakdowns, creator-led content covering tournaments, and short-form videos. So it looks like Fantasy is tripling down on distribution through (user-generated) content
Recently, FT also announced a partnership with Monsters Fun (MF). As part of this integration, MF integrated a Mindshare Leaderboard, powered by FT’s tech
More of these partnerships are in the works, feeling similar to projects like Xeet, building on top of the Ethos score system
This migration to Base means FT is finally moving away from Blast. Interestingly enough, 54% of all fees on Blast over the past 30 days were coming from the app. Plus, Blast dropped 98% in TVL after the bridge to Base opened
Base will be an incredible boost for the game’s GTM strategy. FT is also one of the featured apps in the Coinbase Wallet Beta
In an interview with IcoBeast on Threadguy’s show. Ico shares how the FT cards represent a “stake in a creator’s success", creating these parasocial relationships and alignment between the holder and the creator. And if the app scales, this presents a huge opportunity for creators
FT was one of the first apps that were built around the concept of “social reputation" (later coined as SocialFi) on Twitter, and it’s interesting to see the product market fit around influence x trading cards x fantasy sports
There’s a reason it is “the only app that survived Blast”
RONIN INTRODUCES PROFILES
On the topic of reputation, Ronin just introduced Profiles, a new onchain reputation system
The new feature lives in your Ronin Web Wallet and has basic features like a profile picture + bio, portfolio overview, and login streak. With more advanced features, such as badges, “Honor”, and Onibi (an AI assistant), to go live soon
Assumingly, the features that have yet to come will play a more important role in a user’s onchain reputation. Additionally, Ronin is working on adding more social layers, like friends and guilds
This intersection of social media and onchain history aims to merge the familiarity of Web2 platforms with Web3 wallets. And this move by Ronin seems inspired by Abstract’s work
Furthermore, Ronin has been working on improving app discovery within the ecosystem (like Abstract) through its ecosystem directory
The goal of Ronin Profiles is to make it easier for builders to target loyal community members, and maybe even reward them:
“Imagine stronger point systems. Fairer Play-to-Airdrop campaigns. Better sybil resistance.”
People always say they will hold (because they’re incentivized to do so), but the best way to tell if someone is likely to hold a token/NFT is based on wallet history
For Ronin users, onchain achievements will start to matter more, creating an identity across the ecosystem for dozens of games
Over the past years, there have been a couple of projects that tried to crack reputation systems. gg.xyz comes to mind, but I believe the problem was always the lack of distribution and friction with new platforms
Therefore, native reputation systems, built into the chain, make much more sense
FLASH NEWS
Sleepagotchi achieves a positive return on reward spend ($829K rev/$600k rew)
Hytopia is migrating to Base to make “onchain gaming more accessible”
Pas, from Oh Baby Games, shared that they’re building another game
Spellborne is now live on mobile (iOS and Android)
Pixels shares progress on its Pet app, which has been in development
🆕ALPHA CORNER
Early Games: Pulse
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