GREE recently announced its collaboration with the Avalanche to launch its first Web3 game. As the gaming industry was the first industry that accepted the metaverse and web3 firstly and to a huge level as so many games have been already developed and many are in process of launching.
The blockchain startup revealed on October 27 that BLRD, a division of the Japanese gaming giant GREE, has collaborated with the (AVAX) Avalanche network to release its first Web3 game in 2023.
With Naruto and several mobile versions of Final Fantasy, GREE previously gained enormous popularity on a global scale. To provide fresh experiences for its game offerings, this company is now leaning toward crypto tech support.
The cooperation specifically includes working with the software firm Ava Labs, which receives funding from Andreessen Horowitz and supports the Avalanche ecosystem by supporting the deployment of decentralized financial (DeFi) applications on the network. Ava Labs will be responsible for “providing technical, marketing, business, and ecosystem support.
Ed Chang who is the Head of Gaming at Ava Labs said: -
“GREE has a decade-plus track record of making games that players love with timeless IP. (…) Ava Labs has all the tools to help GREE grow into a Web3 gaming powerhouse.”
In an effort to participate in Avalanche's main network and gaming Subnets, GREE is also running over a dozen Avalanche validator nodes. Additionally, it is the first Japanese publicly traded corporation to own the Avalanche AVAX coin.
On additional projects, including joint investments with Blizzard, and the Avalanche Fund, BLRD intends to work with Ava Labs and the Avalanche Foundation. However, Avalanche did not really respond to the above-mentioned development. Avalanche is ranked 16th on the coinmarketcap and is trading at the value of ₹1,540.25 with a market cap of ₹459,792,501,142.
GREE is building the Web3 gaming industry
With over ten years of expertise in creating highly engaging Web2 games, BLRD has collaborated with renowned gaming studios like Konami, Square Enix, and Sega to publish well-liked mobile games. Eiji Araki, the company's director, emphasized the joy of his organization for this partnership by saying:
“I’m excited by the potential of the Avalanche network and its ecosystem. (…) We will deliver a brand new game which will be enjoyed by players for long years as we have done in web2 games.”
As of Q3 2022, blockchain and metaverse initiatives raised $1.3 billion, with gaming accounting for roughly half of all blockchain activity, according to Finbold research from mid-October. In the meanwhile, metaverse games continue to attract a lot of investor interest.
The metaverse game Axie Infinity (AXS), together with two virtual projects where you can buy metaverse land, The Sandbox (SAND) and Decentraland (MANA), stood out as the most profitable metaverse initiatives.
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