Immutable Games Studio seems to be the latest crypto firm affected by the financial pressure in the cryptocurrency market. The web 3.0 game developer has laid off several staff members, according to its senior designer, James Wakeham.
Immutable lays off staff
Immutable is a gaming studio that was launched in 2018. At the time, crypto games were yet to become as popular as today. The company is behind Immutable X, a studio that specializes in the development of NFT games. Immutable is behind the first blockbuster NFT trading-card game, with its recent project being Guild of Guardians.
Immutable has recorded significant successes in the NFT gaming sector. Earlier this year, Immutable X announced a partnership with GameStop to launch a $100M fund to help those exploring NFT technology.
Currently, many NFT and blockchain gaming companies are moving towards the mainstream gaming space, as some developers and publishers explore the possibilities that could be unlocked with this new technology.
Traditional gaming companies and NFTs
However, not all traditional gaming companies are interested in NFT technology. Last week, Microsoft announced it would ban NFTs and blockchain technology from the Minecraft online game. Minecraft argued that the technology behind NFTs created a have and have-nots scenario, and it did not conform to the equality values Minecraft support.
Square Enix, another popular gaming developer, also announced the launch of Final Fantasy VII collection cards depicting exchange tickets. These cards can be redeemed in the same way as NFTs. The digital format will also employ the technology used by the Enjin NFT platform.
The other notable players that have also moved towards NFTs and blockchain gaming are the veterans of PlayStation Studios, John Gavin and Michael Mumbauer. the two launched the Liithios game developer last month, and the first title to be released will mark the first time that a web3 game is coming to consoles.
One of the main challenges faced by games that want to incorporate NFTs is the rejection by players. Towards the end of last year, GSC Game World announced a plan to support NFT content. However, it went back on this plan after community backlash. At the time, the company said that it prioritized the interests of its fans and players.
However, some companies like Ubisoft and Com2Us have gone ahead to launch these games despite community backlash.
On the other hand, the blockchain gaming ecosystems are still growing and expanding. One of the newest projects in blockchain gaming is Battle Infinity. This fantasy sports metaverse game gives users a unique experience of blockchain gaming. The Battle Infinity ecosystem is powered by the IBAT token currently in presale.
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