<ul><li><keyword id="1322080" type="General" weightage="80" keywordseo="akatsuki" source="Orion">Akatsuki</keyword> has announced a $20 million fund focused on investing in web3 projects.</li><li>The fund is called ‘<keyword id="14096465" type="General" weightage="80" keywordseo="emoote" source="Orion">Emoote</keyword>’ based on the underlying belief that <keyword id="4668945" type="General" weightage="100" keywordseo="nft" source="Orion">NFT</keyword> consumption is based on ‘emotional values’.</li><li>According to the Japanese firm, understanding ‘emotional values’ is key to creating sustainable tokenomics. </li></ul> Japanese entertainment and gaming company, Akatsuki, has <a href="https://aktsk.jp/en/press/53234/">announced</a> a new $20 million fund that will squarely focus on investing in web3 projects. The fund has been dubbed Emoote based on the philosophy that NFT consumption is based on ‘emotional values’. Its focus will be to invest in web3 startups that are working on blockchain gaming (<keyword id="12510643" type="General" weightage="80" keywordseo="gamefi" source="Orion">GameFi</keyword>), non-fungible tokens (NFTs) and the <keyword id="11121339" type="General" weightage="50" keywordseo="metaverse" source="Orion">Metaverse</keyword>. Till date, <keyword id="14096468" type="General" weightage="50" keywordseo="emote" source="Orion">Emote</keyword> has used tokens to invest in more than 20 web3 projects globally, including <keyword id="14096467" type="General" weightage="50" keywordseo="stepn" source="Orion">STEPN</keyword> — a web3 lifestyle app that claims to lie within the intersection of Social-Fi and Game-Fi with the tagline of ‘move-to-earn’. <img src="https://lh6.googleusercontent.com/a6fXawXNp6k4jEHK1bGosDp_IkHNITb-ozYRVvdkIDcpj4AHLkHZMu_-LuRaH-B5ID-9onZ8HsjzS2UMzLDwM5XdsmVIFzjFmHN9m8HyO8ZAsMou0NvC9RIRUUoj0CjdR0tnnwqnPp65deFsEQ" /> Source: Ataksuki <cmsannotation type="cmsannotation" annotationid="NFT consumption based on emotional values" comment="subhead" text="NFT consumption based on emotional values">NFT consumption based on emotional values</cmsannotation> According to Ataksuki, NFT consumption is based on values such as ‘likes’ and ‘empathy’. The company believes that these ‘emotional values’ are an integral part of how a web3 platform configures its tokenomics. An understanding of how these ‘emotional values’ impact tokenomics can pave the way for sustainability and the growth of creators. <cmsannotation type="cmsannotation" annotationid="Asia focus" comment="subhead" text="Asia focus"><keyword id="21718" type="General" weightage="50" keywordseo="asia" source="Orion">Asia</keyword> focus</cmsannotation> While Ataksuki is focused on funding GameFi, NFT and metaverse projects, it has a special interest in platforms emerging from Asia following the success of Vietnam-based Axie Infinity and Yield Guild Games from the Philippines. <div type="ExtQuote" text="In response to the success stories, a further increase in web3 projects is expected, with Asia being the focal area." auname="Excerpt from Akatsuki press release"></div> They will help web3 startups navigate the marketing and business development landscape in Japanese and Asian markets as well as introduce new Japanese entertainment IP and creators.

NFT consumption is based on ‘emotional values’, says Akatsuki as it launched a new $20 million web3 fund

<a href="https://www.businessinsider.com/category/master-your-crypto"></a><div type="image" title="People playing video games" height="4480" width="5973" msid="94207720" hostid="261"></div><ul class="summary-list"><li>Insider spoke with industry experts about gaming's potential to take crypto to a broader audience. </li><li>Blockchain gaming VC investments notched $2.5 billion during Q2 2022, according to DappRadar.</li></ul>Blockchain gaming raked in $2.5 billion in funding during Q2, 2022, according to a DappRadar <a href="https://www.businessinsider.com/crypto-gaming-blockchain-report-growth-slows-still-less-volatile-market-2022-7">report</a>. The burgeoning space has attracted some of the biggest names in Silicon Valley, with Andreessen Horowitz <a href="https://www.wsj.com/articles/andreessen-horowitz-debuts-600-million-gaming-fund-to-add-to-web3-bets-11652878800">debuting</a> a $600 million fund for gaming startups in May. Animoca Brands, a Hong Kong-based game developer and crypto investor, also <a href="https://www.forbes.com/sites/zinnialee/2022/07/12/animoca-brands-hits-59-billion-valuation-as-crypto-winter-deepens/?sh=7d12d3f8469d">secured</a> a $75 million raise at a $5.9 billion valuation in July. Total investments in the sector this year, by some <a href="https://www.businessinsider.com/crypto-gaming-blockchain-report-growth-slows-still-less-volatile-market-2022-7">measures</a>, are outpacing last year's by around 33%.Franklin Bi, the director of portfolio development at crypto hedge fund Pantera Capital, previously told <a href="https://www.businessinsider.com/crypto-gaming-blockchain-report-growth-slows-still-less-volatile-market-2022-7">Insider</a> that it is blockchain gaming's "perfect moment" to "take off.""The gaming industry travels in cycles. New cycles are historically marked by new tech or new business models or novel user experiences. Crypto and NFTs have opened up all of the above," Bi said in a statement.There have been a slew of household names jumping on the blockchain gaming bandwagon. Microsoft Corp. <a href="https://decrypt.co/90634/microsoft-69b-activision-blizzard-deal-metaverse-move">announced</a> plans in January to acquire Activision Blizzard Inc. – commonly known as the publisher of franchises like Minecraft and Call of Duty – for $68.7 billion. Microsoft says the deal will help develop "building blocks for the metaverse," according to a statement from CEO and Chairman Satya Nadella. With the gaming market <a href="https://newzoo.com/insights/trend-reports/newzoo-global-games-market-report-2022-free-version">valued</a> at almost $200 billion this year, there is potential in onboarding a critical mass of users through blockchain games. Insider spoke with industry experts about the nascent space and its potential to take crypto to a broader audience. <h2>NFTs as a way to own in-game assets</h2>Gaming may be one of the main driving forces for mainstream adoption in crypto, Pavel Bains, the CEO of blockchain startup Bluzelle, says."I have three kids who grew up on Fortnite, Minecraft, and Roblox," Bains told Insider in a statement. "Virtual currencies and acquiring in-game digital assets is what they already know." He added: "The power of crypto can help turn those virtual goods into tangible assets for committed gamers. It's a natural progression for the upcoming generation and they will use it as a vehicle to learn valuable finance lessons at the same time."In traditional games, players commonly buy skins or virtual cosmetics for their characters. This is a market, per trading platform <a href="https://venturebeat.com/2020/12/18/newzoo-u-s-gamers-are-in-love-with-skins-and-in-game-cosmetics/">DMarket,</a> that generates roughly $40 billion in annual revenue. These assets belong to the studio, instead of the buyer, which could make NFTs an attractive alternative to the traditional gaming model. "So what's happened with the advent of blockchain games is that now those virtual goods and items can be put on-chain and you can have actual ownership of that," Justin Kan, cofounder of NFT marketplace Fractal, previously told <a href="https://www.businessinsider.com/nfts-in-gaming-twitch-justin-kan-investing-outlook-advice-2022-4">Insider.</a> "The only difference is that these companies themselves are giving up control and what they get in exchange is a more robust economy."NFTs verify ownership of a player's asset because it's recorded on a public ledger via the blockchain. Instead of holding these assets with a Web2 gaming studio, participants can hold tokens in their crypto wallets or some other more decentralized custodian."We believe ownership of digital assets will open up another layer of excitement and experience for gamers as they will now have additional motivation playing the games they enjoy," Kyu Lee, a partner at venture capital firm CRIT Ventures, told Insider in a statement.<h2>Games are entertaining and people want to play them</h2>Gaming is an effective onboarding tool, STEPN's Shiti Rastogi Manghani says, because it's entertaining and accessible to a broader audience. STEPN, dubbed a "move-to-earn app," allows users to earn game tokens through exercising. "Anything that is fun, social, engaging will get the users in the door," Manghani, the startup's CMO, told Insider in a statement. "We've seen this time and again in multiple industries like retail, e-commerce, and social media. It serves basic human needs. Gaming or any utility app that checks those boxes will go mainstream. If it benefits the users in the process, that's icing on the cake." Younger generations, in particular, are long accustomed to playing video games. Games have always been at the "forefront of emerging technologies" because humans love to be entertained, Shahaf Bar Geffen, the chairman of Web3 startup UnCaged Games, says. "The game of Tetris was built by Alexey Pajitnov to make computers less intimidating and more accessible to people," Geffen told Insider in a statement. <h2>Roadblocks to blockchain gaming</h2>With any new technology – and especially one in a volatile market – comes plenty of obstacles.Amid a crypto bear market, blockchain gaming has shown signs of slowing down as well. Axie Infinity, the game which once had the largest user base in the industry, had 83% fewer participants in Q2 than in Q1, according to <a href="https://www.businessinsider.com/crypto-gaming-blockchain-report-growth-slows-still-less-volatile-market-2022-7">DappRadar.</a> The downtrend in players steepened following a $650 million hack on its Ethereum-linked sidechain, Ronin."While gaming activity still dominates the overall landscape, we have also begun to see the first cracks appearing in the industry, and many top blockchain games started to show weakness," the DappRadar report says. Potential hurdles for mainstream adoption are a game's usability, Steven Goldfeder, the CEO and cofounder of Ethereum scaling solution provider Offchain Labs, says. Is it fun or are people just playing for the returns and financial rewards? "A good blockchain game needs to be a game first, and a blockchain application second," Goldfeder said in a statement to Insider. "The incorporation of blockchain technology should be purely additive, enhancing the gaming experience for users that wish to engage with the blockchain, but not by limiting accessibility to those who just want to play the game."He added: "Ironically, in order for blockchain to go mainstream, it needs to be able to operate in the background, and core to that are ease of onboarding, fast confirmation times, and low transaction costs that are abstracted away from users." This article is intended to provide generalized information designed to educate a broad segment of the public; it does not give personalized investment, legal, or other business and professional advice. Before taking any action, you should always consult with your own financial, legal, tax, investment, or other professional for advice on matters that affect you and/or your business.

Web3 founders and top VCs break down how blockchain gaming can take crypto mainstream &ndash; and explain potential hurdles for widespread adoption

As venture capital (VC) funds squeeze the flow of money to traditional startups and invest in emerging tech like Web3.0, <keyword id="8918130" type="General" weightage="50" keywordseo="binance-labs" source="Orion">Binance Labs</keyword>, the venture capital and incubation arm of leading cryptocurrency exchange <keyword id="6359140" type="General" weightage="80" keywordseo="binance" source="Orion">Binance</keyword>, on Wednesday announced closing of a $500 million investment fund to boost Blockchain, Web3.0 and value-building technologies. The fund is supported by leading global institutional investors such as DST Global Partners, <keyword id="13441808" type="General" weightage="50" keywordseo="breyer-capital" source="Orion">Breyer Capital</keyword>, as well as other major private equity funds, family offices, and corporations as limited partners, Binance said in a statement. The new fund will invest in projects that can extend the use cases of cryptocurrencies and drive the adoption of Web3.0 and Blockchain technologies. "The goal of the newly closed investment fund is to discover and support projects and founders with the potential to build and to lead Web3 across DeFi, NFTs, gaming, <keyword id="11121339" type="General" weightage="50" keywordseo="metaverse" source="Orion">Metaverse</keyword>, social and more," said Changpeng Zhao 'CZ', Founder and CEO of Binance. Since 2018, Binance Labs has invested in and incubated more than 100 projects from over 25 countries. Its portfolio includes industry-leading projects such as 1inch, Audius, Axie Infinity, Dune Analytics, Elrond, Injective, <keyword id="2462624" type="General" weightage="50" keywordseo="polygon" source="Orion">Polygon</keyword>, <keyword id="28936" type="General" weightage="50" keywordseo="optimism" source="Orion">Optimism</keyword>, The Sandbox, and STEPN. With the new fund, Binance Labs will make investments across three different stages: incubation, early-stage venture, and late-stage growth. Early-stage venture investments include token and equity investments across all sectors of cryptocurrency and Web3.0, including infrastructure, DeFi, NFTs, gaming, Metaverse, social, and crypto adoption platforms. Late-stage growth investments target more mature companies looking to scale or bridge into the Web3.0 ecosystem with the Binance ecosystem as a solid strategic partner, said the company. Earlier, US-based investment firm Andreessen Horowitz (A16Z) announced two new funds -- a massive $4.5 billion fund for crypto and Blockchain companies and Web3.0 startups and a $600 million 'Games Fund One' that is exclusively focused on the gaming industry. A group of former executives from one of the largest cryptocurrency exchanges Binance has also reportedly created a $100 million venture fund. Web3, or Web 3.0, represents the next generation of the Internet. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/india/news/pm-modi-mourns-the-loss-of-singer-kk-who-passed-away-at-53/articleshow/91931110.cms">PM Modi mourns the loss of singer KK who passed away at 53</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/science/health/news/pmbi-crosses-100-crore-in-may-centre-to-increase-the-number-of-janaushadhi-kendras-by-march-2024/articleshow/91921003.cms">PMBI crosses ₹100 crore in May; Centre to increase the number of Janaushadhi Kendras by March 2024</a>

Binance Labs announces $500 million fund to boost Blockchain technologies and Web3.0 startups

<ul><li><keyword id="13186004" type="General" weightage="20" keywordseo="metaverse-tokens" source="Orion">Metaverse tokens</keyword> are cryptocurrencies attached to <keyword id="11121339" type="General" weightage="100" keywordseo="metaverse" source="Orion">metaverse</keyword> games.</li><li>Games like <keyword id="12222085" type="General" weightage="20" keywordseo="decentraland" source="Orion">Decentraland</keyword>, <keyword id="1760414" type="General" weightage="20" keywordseo="sandbox" source="Orion">Sandbox</keyword> and more have been doing well in terms of user growth over the past year.</li><li>However, metaverse tokens registered significant drops in the month of May.</li></ul>The crypto market’s bear turn seems to have affected all tokens except those tied to the metaverse arena. According to a <a href="https://kraken.docsend.com/view/scyxnqnb9tf8wqpf">report</a> by Kraken Intelligence, the research arm of crypto exchange Kraken, prices of Metaverse tokens have risen by a whopping 400% year-on-year even as the rest of the market turned for the worse. The report noted that tokens linked to metaverse platforms like Decentraland, Sandbox, <keyword id="11919548" type="General" weightage="20" keywordseo="axie-infinity" source="Orion">Axie Infinity</keyword>, and STEPN, were up by 41%, 470%, 511%, and 746%, respectively, last month. Exchange tokens saw gains of 6% year-on-year too, and became the second category that saw gains despite the market’s downturn. “The #NFT boom of 2021 has not only drawn mainstream attention to digital art investments, it has also popularized the crypto metaverse,” the platform said in a tweet. <div type="twitter" handle="krakenfx" handlename="Kraken Exchange" image="http://pbs.twimg.com/profile_images/1306325743580848130/mk0qvsZ9_normal.jpg" favoritecount="103" retweetcount="36" status="💥 The #NFT boom of 2021 has not only drawn mainstream attention to digital art investments, it has also popularized… https://t.co/JEITScAR6b" createdat="1654617905000" id="1534204810731339776"></div> In comparison, the prices of <keyword id="6354947" type="General" weightage="20" keywordseo="bitcoin" source="Orion">Bitcoin</keyword> were down 13%, while the DeFi category saw a massive drop of 72%, according to the report. BTC fell to a 10-month low in May, while Ethereum dropped by 29% year-on-year, according to the report. That said, the report also pointed out that despite the overall upturn for metaverse games, the segment still posted a drop in May. It said that all sectors posted drops “exceeding 17%”, and metaverse and meme coins led this drop with less than -40% returns from both segments. <cmsannotation type="cmsannotation" annotationid="Why are metaverse tokens performing better?" comment="subhead" text="Why are metaverse tokens performing better?">Why are metaverse tokens performing better?</cmsannotation> Even so, the report is a reminder that crypto tokens that have an utility attached to them have a better chance of weathering the storm and may make for better investments. Tokens like MANA, SAND and others, which are linked to games like Decentraland and Sandbox, are used to buy items within those platforms, and hence have actual utilities attached to them. But that’s not the only reason. Unlike many crypto tokens, which are known to traders only, the metaverse games market is actually popular too. For instance, on April 20, a report by blockchain tracking firm DappRadar <a href="https://dappradar.com/blog/dappradar-x-bga-games-report-q1-2022">noted</a> that blockchain gaming activity has increased by 2000% in the past year. “Game dapps continue their ongoing developments, and the metaverse keeps flashing one of the most exciting opportunities in the blockchain industry. VCs and other investors keep pouring capital into blockchain games and metaverse projects, surpassing $2.5 billion in investments,” the company said in a blog post. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/around-90-million-users-flocked-to-crypto-bandwagon-in-march-2022-report/articleshow/92081565.cms">Around 90 million users flocked to crypto bandwagon in March 2022: Report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/sebi-raises-concern-on-crypto-says-that-its-decentralised-nature-makes-them-harder-to-regulate/articleshow/92079830.cms">India’s securities regulator says decentralised nature of cryptos makes them harder to regulate</a>

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NFT consumption is based on ‘emotional values’, says Akatsuki as it launched a new $20 million web3 fund

BI India Bureau

Web3 founders and top VCs break down how blockchain gaming can take crypto mainstream – and explain potential hurdles for widespread adoption

Morgan Chittum

Binance Labs announces $500 million fund to boost Blockchain technologies and Web3.0 startups

IANS

Metaverse tokens like Decentraland, Sandbox and Axie Infinity have risen nearly 400% in a year despite the sell-off in crypto market

BI India Bureau

You Searched For "stepn" and got 4 results

NFT consumption is based on ‘emotional values’, says Akatsuki as it launched a new $20 million web3 fund

BI India Bureau

Web3 founders and top VCs break down how blockchain gaming can take crypto mainstream &ndash; and explain potential hurdles for widespread adoption

Morgan Chittum

Binance Labs announces $500 million fund to boost Blockchain technologies and Web3.0 startups

IANS

Metaverse tokens like Decentraland, Sandbox and Axie Infinity have risen nearly 400% in a year despite the sell-off in crypto market

BI India Bureau

Web3 founders and top VCs break down how blockchain gaming can take crypto mainstream – and explain potential hurdles for widespread adoption