👑 King Axie
🧠 Aurory
💵 Three New Gamefi Raises
2 min read
Axie
Scrolling over my list of newly funded Web3 companies I couldn’t help but notice the gaming space becoming more and more the theme. In the spirit of full transparency, we head up a fund specifically for blockchain-focused games, so we have a vested interest in the success of the sector.
It’s been interesting to watch the rise and subsequent downfall of King Axie, but what’s even more interesting is what they are not doing to pull out of their current tailspin (more on this in another piece.)
All games seem to face the same death spiral at some point, so getting the in-game economics right from the start is paramount to the success of the project. New games have the benefit of watching the mistakes of the first mover, and there are a few newcomers who have patiently watched, then decided to innovate, iterate, and evolve.
Usurpers are at the gates, and unless the King makes drastic changes, he will fall.
Aurory
Aurory is -in my opinion- the Achilles to Axies Hector. The game is already playable -to a certain extent- and you can use your NFT as your character. We will refrain from blabbing on and on about it now, but the team behind Aurory is solid, their pockets deep, and they continue to ship at an impressive rate. They have learned from Axies mistakes and have made the necessary changes. Things seem to be going well.
However, as a certified skeptic, I have to wonder what their Achilles heel is, and whether they will be able to defend it if/when the time comes.
(Disclaimer: We are invested in Aurory.)
Three New GameFi Raises
50M to Gem: Esports 3.0 Platform
Andreessen Horowitz $600M Gaming fund
Coming Next…
Another interesting theme popping up is on-chain Carbon Credits. We will write something on that next, so be sure to subscribe and share this newsletter on your Twitter, or with your closest degenerate family member.