What happened to GameFi and Web3 this week? Here are some quick recaps of current events and news.

• Pantera Capital invested $10M in metaverse game, Worldwide Webb

• Magic Eden Ventures invested in 11 Web3 game studios

• Azra Games raised another $10M from A16z to make games with NFTs

• The Sandbox opened public minting for Rabbids NFT

• Idexo launched a game-changing Web3 player management system that significantly improves player engagement, retention and revenue

• Kratos Studios raised $20M in seed funding to build Web3 games

• Curio raised $2.9M in seed funding to support its development of blockchain gaming based on user-generated content

Hi Ethbits,

As we could see, the GameFi market is gradually recovering from its bear market in 2022. A series of funding in the beginning of 2023 set the tone for what we could expect this year: more funding and hype for Web3 games, but also a higher bar.

We noted that VCs are shifting their focus to invest in game studios that emphasize on gaming experience. This is a great departure from 2021 and early 2022, when a handful of VCs invested in game studios out of speculation, without the need of a solid product that stands. The public is now interested to invest in Web3 games that vouch to deliver a gaming experience that rivals those in Web2, with engaging gameplay mechanics and high-quality visual effects that ensure a smooth experience. It is true that even though Web3 games have enticing elements to it that attract users, when compared to games in Web2, they are just not as interesting or enjoyable.

It seems intuitive that successful Web2 games should step in the field now, as they have an advantage that cannot easily be matched. We at ETH.GAME are devoted to be a part of this change. We are experienced in bringing Web2 games into Web3, providing a one- stop customized and holistic solution that helps Web2 games seamlessly transition into Web3.

Sources: NFTgators, AI Thority, Coindesk, Yahoo Finance, Venturebeat and Cointelegraph