Blockchain Gaming is all the rage 🔥

GM Bao Beis,

RSVPs have now closed for the FFC Xmas parties. Can't wait to see you guys and celebrate! Time is precious on a Monday so let's dive in.

Today we cover:

• DappRadar on the current state of Blockchain Gaming

• Animoca announces $2bn metaverse fund

• Gemini Exchange want their money back, all $900m

DappRadar on the current state of Blockchain Gaming

To kick off December, DappRadar released their 9th report on the current state of Blockchain Games. There's a lot covered in this report and here's the link if you want to read the details.

What crypto winter? Says the DappRadar as they continue to see strong underlying trends which show growth in the gaming economy and investment into metaverse companies.

Some quick highlights during November:

• Number of gamers: 800,875 average daily unique wallets

• Funding raised: $534 million in Oct and Nov alone

• NFT in-game trading volume: $55 million

• Top game Alien Worlds continues to grow 25%

Here are some cool graphs and pictures from their deck:

As trust in DeFi falters a bit, Blockchain gaming picks up the baton and continues to push ahead.

Animoca announces $2bn metaverse fund

The team behind Sandbox, Animoca Brands announced a $2 billion fund to invest in all things metaverse and web3.

Yat Siu, the Animoca Chairman, stated that web3 had reached sufficient maturity and had plans to inject capital to late stage, established and lower risk companies. But the primary purpose of the fund is the grow and nurture the entire ecosystem of web3 and advance their long-term goals of acquiring more digital property rights.

So far, Animoca has been a frontrunner in the gaming space and look to continue to grow through the bear market as the industry concentrates. However looking to raise funding in extremely difficult economic and crypto conditions will be incredibly testing. 

The success of securing these funds will reveal how investors really think about the future of web3 and whether they are willing to put their money where their mouth is.

Gemini are knocking on Genesis' door for $900 million back

After FTX fell over, Genesis went to Twitter on the 17th of November to post a pretty concerning tweet...

Since then it's been dead silent on their twitter and withdrawls were temporarily suspended. You guys okay over there?

The answer is no. Hell no.

Cryptocurrency exchange Genesis have come knocking to recover the $900 million loaned to Genesis and have formed a creditors' committee to squeeze the funds back out of the distressed Genesis.

The funds originated from customers using Gemini's Earn program and customers began having issues redeeming their funds. The T&Cs never work in your favour when things go pear-shaped like this. Disgruntled customers have taken to all recent Gemini tweets and to express their displeasure...

Bao-Sized News

• CZ dropping his Crypto Safety refresher

• Former president of FTX U.S. arm tries to raise funding for new crypt startup...would you fund him?

• Bitcoin a Commodity - agree or disagree?

Made us Kek

Have a fantastic week ahead.

-Bernie