Web3 game funding peaked between February and March, with monthly investments ranging from $60 million to $100 million. However, this only accounted for 41.35% of trading volume in the first quarter of 2022. Compared to other cryptocurrencies, the market capitalization of Web3 games has fallen by 33% since the beginning of 2024, while other cryptocurrencies have only fallen by 14%.
Despite the challenges, Web3 games still have great potential. First, Web3 games are still an active area, accounting for 30% of all dApp activities and having 2.1 million daily active wallets. At the same time, with the continuous development of technology and the improvement of user experience, Web3 games are expected to become an important driving force in the cryptocurrency field.
Recently, Delphi Venture partner Piers Kicks posted a message to cheer for game developer Gunzilla Games and its upcoming flagship game Off The Grid.
According to Piers' post, Delphi Ventures has made a big bet on Off The Grid, which is also the largest investment in its gaming track. At the same time, the game has been developed by a team of 300 people for 5 years, and the total investment in the game has reached 90 million US dollars.
As an aside, the estimated cost of Black Myth: Wukong was previously revealed by the game producer to be 300-400 million yuan. Based on this rough calculation, the investment cost of Off The Grid is higher than that of Black Monkey.
Why Off The Grid succeeds when many blockchain game projects have failed one after another?
01 Cyberpunk Battle Royale
OTG was developed by crypto game developer Gunzilla Games and is currently available in early access versions on the Epic Game Store, PlayStation 5, and Xbox. After being promoted by many gaming anchors, OTG quickly became popular and has been ranked first among free games on the Epic Games Store since mid-October. It has also received at least hundreds of thousands of live broadcast views on the Twitch streaming platform alone.
OTG inherits the mechanics of classic battle royale games such as Call of Duty and Apex Legends, but its cyberpunk-style equipment and props give players a richer experience. In addition to firearms, players can also use jetpacks to achieve more maneuverable and flexible movement, as well as replace and use mechanical prosthetics with different capabilities in the game. Gunzilla said that excluding skins, it is expected to launch more than 260 unique weapon combinations in the future.
In terms of map design, OTG has created the largest battle royale map to date. Players can use the character's jetpack and prosthetic special abilities to shuttle between high-rise buildings and achieve rapid aerial movement. This highly flexible movement system not only increases the excitement of the game, but also encourages a more aggressive play style.
It is worth mentioning that OTG introduced an Extraction Royale mode. Players collect HEX cubes on the map, which represent blueprints for weapons, accessories or prosthetics.
Players will need to take these cubes to specific extraction points to be decoded, while also defending themselves from other opponents who might want their loot. Upon successful extraction, the items will be "3D printed" into the player's inventory, effectively minting the assets onto the blockchain in the background.
The game does not have a traditional in-game store. All items entering the economic system and peer-to-peer market are obtained by players through the in-game extraction mechanism and minted on the chain.
This design not only ensures scarcity and true ownership of items, but also brings more dynamism and player engagement to the game economy.
02 Can it impact the mainstream?
The "semi-finished products" launched by OTG can become popular games in the Epic Store, once again allowing Web3 game enthusiasts to see the dawn of "hope".
According to AVASCAN data, as of October 15, the transaction volume on GUNZ has exceeded 50 million, with more than 5.6 million independent wallets. In addition, according to SullyGnome data, the game has been watched for more than 2 million hours in the first week.
From being a mediocre name to gaining unprecedented popularity among mainstream players, in addition to the excellent quality of the game itself, another major factor is the great success of Gunzilla Games in marketing and promotion. It sponsored many well-known game anchors such as Ninja, Timthetatman and Ludwig Ahgren to broadcast live trials, which attracted a lot of attention and then attracted more anchors or bloggers to participate.
But it is still difficult to predict whether OTG can maintain its traffic after gaining great attention.
First, there is no clear sign that gaming will gain traction in the fourth quarter in the current market. In addition, a large number of releases are expected in the next six months, which may increase competition and further fragment liquidity.
For example, the louder ones include:
EVE Frontier
A single-shard survival game set in a dark, dystopian space, where humanity struggles to survive and rebuild a shattered world; in March 2023, CCP announced that it had raised $40 million for the game's development.
MetaCene
A blockchain-based MMORPG set in a surreal post-apocalyptic world; players redefine civilization using a variety of NFTs.
Avalon
Built with Unreal Engine 5 and integrating multiple blockchains; players use their NFTs to explore the world while competing for cryptocurrency and rare NFT rewards; the game setting is inspired by King Arthur legend and the alternative history of the Knights Templar.
Big Time
A multiplayer action role-playing game for PC that combines fast-paced combat with an open in-game economy.
summary
As more crypto games enter the mainstream, the industry will see tremendous room for growth. Hopefully, games like Off The Grid, EVE Frontier, MetaCene, and Avalon will have a positive impact on sentiment in both Web3 and Web2 markets. Such content should still be considered the best Trojan Horse for the cryptocurrency space, and there is reason to be optimistic in the short to medium term.
