Web3 startup launches its“Shopify” for in-game assets
The web3 gaming market is expected to grow from $5 BLN in 2022 to $30 BLN in 2030. Compared to mainstream gaming market size of $300 BLN that’s still in its infancy, but strong growth in this vertical had already pushed gaming-related activities to constitute 50% of all Blockchain transactions according to a recent report by DappRadar and Blockchain Gaming Alliance (DappRadar x BGA).
Enter Fungies.io – which is set to help game developers transition from Web2 to Web3 faster saving months of development. The team is launching its new product that consists of a fully customizable nft marketplace for blockchain game assets, which is the cornerstone of every NFT game. Apart from allowing players to trade in-game NFT’s easier, Fungies Wallet will enable players to log in with their e-mail or password without even knowing anything about Blockchain or Crypto Wallet. This will help Web3 gaming on-board the mainstream players which the space is in so much need. Everything will be easily managed via a simple dashboard. Additionally, Fungies.io will launch a set of API’s and SDK’ (including Unity) to help developers plug-in Blockchain and NFT’s directly into their games.
Fungies had its product showcase at Slush on the 17th November. They were also chosen as one of the top Semi-Finalists of Slush 100 pitching competition. The team has already developed product demos: a multichain, mutlicurrency NFT Marketplace (ultiarena.com) and Polygon-based Trading Card Game called Ultimate Battle Arena (uba.gg). The above-mentioned NFT marketplace has already generated $200k in NFT sales and gathered over 350 Game Artists as well as 7000 NFT’s.
According to Fungies CEO, Duke Vu -“The next wave of gaming will certainly be decentralized and we’re now seeing a tectonic shift not seen since the 2008 mobile gaming revolution. The idea of truly owning digital assets on Blockchain is what’s attracting players to Web3 gaming”. One of the strongest signs of the growing scene is Axie Infinity which had nearly $2 BLN in NFT sales volume in 2021. As most of its player base is in the Philippines and Venezuela – the team behind Fungies believes that APAC and LATAM are two biggest geographics which will see massive adoption of Web3 gaming.
The team behind Fungies has extensive experience building startups. Duke Vu has 10 years of experience building companies including 1 exit. Wojciech Harzowski, the company’s co-founder and CTO built one of the first crypto exchanges back in 2017. So far more then 20 companies have already signed up to use Fungies products.
The company will join a leading crypto accelerator to supercharge their growth and sales efforts. Fungies.io will launch its in-game crypto wallet along with Unity and Unreal SDK’s in Q1/2023. The white label NFT marketplace and Developer Dashboard are now launched in Beta.
