Web2 gaming has been successful but faced problems like the management of numerous login credentials, subscription fatigue, and security concerns, including a 13% increase in cyberattacks as reported by Kaspersky Labs. The collection of personal data and the rise of bots and AI-driven deepfake accounts further exacerbate these issues. Web3 technology presents a solution to these challenges by offering cryptographically secured identities, which serve as a unified access point to Web3 gaming titles. These IDs eliminate the need for multiple passwords, reduce entry barriers, and enhance security through blockchain's immutable nature. They also offer greater control over data privacy, allowing users to manage who can access their personal information. Additionally, Web3 addresses the bot issue with a one-time humanity check during ID setup, using techniques like biometrics or video chats to verify human identity. This makes it difficult for deepfake accounts to mimic legitimate users, significantly reducing the risk of cyberattacks. Web3 technology thus promises to revolutionize online gaming by prioritizing security, accessibility, and player control, making it a relevant and necessary evolution in the face of Web2's challenges and the advent of sophisticated AI threats.

The gaming industry has significantly evolved from its origins in pixelated graphics and simple gameplay to become a multi-billion-dollar global phenomenon, characterized by a wide array of genres and platforms. Alongside this evolution in gaming, there's been a parallel transformation in the education of aspiring game developers, notably influenced by the emergence of Web3 technologies. Web3, marking the next phase in internet evolution, brings blockchain technology, Non-Fungible Tokens (NFTs), and decentralized applications to the forefront, significantly impacting the gaming sector. A prime example of this impact is Axie Infinity, a popular play-to-earn (P2E) game that leverages NFTs for player ownership of digital pets, allowing players to earn through gameplay. This model, showcasing a shift from traditional in-game item ownership to real asset ownership and the opportunity to earn, illustrates the significant changes Web3 is bringing to gaming. The shift towards Web3 also necessitates a reimagining of game development education. Traditional education focused on programming, game design theory, and mechanics for consoles and PCs, but Web3’s rise introduces new focuses like NFT creation, blockchain integration, decentralized gaming ecosystems, community-driven development, and the importance of security and ethical considerations. These changes aim to equip future developers with the skills needed for a gaming world increasingly centered around blockchain and decentralization. To align with these advancements, educational initiatives like the masterclass on "Monetisation in Web3" hosted by Acxyn at Asia Pacific University of Technology & Innovation (APU) are emerging. These programs are designed to prepare students for the Web3 gaming landscape, emphasizing blockchain, NFTs, and decentralized marketplaces. Through collaboration with industry leaders like Acxyn, institutions like APU are positioning their students at the forefront of the gaming industry's shift to Web3, ensuring they are well-equipped to explore the new opportunities it presents.

Malaysia's emerging prominence within the ASEAN gaming market has seen substantial revenue generation. By outpacing North American figures, Malaysia aims to become a global gaming hub through strategic location, skilled professionals, and government support, notably from the Malaysia Digital Economy Corporation (MDEC). MDEC has been instrumental in pushing digital innovation, including a major metaverse initiative, aiming to make Malaysia a magnet for international game studios and investment. This vision is supported by Acxyn, a company that is revolutionizing the gaming industry by transforming game economies and IPs into tangible assets through Web3 technologies. Acxyn's collaboration with MDEC, bolstered by an RM750,000 grant, aims to redefine Malaysia's digital landscape, focusing on innovation in the metaverse, blockchain education, technological research, IP protection, and talent development. The partnership between MDEC and Acxyn is seen as a strategic move to enhance productivity, quality, and efficiency in the digital sector, with a particular focus on creating, protecting, and monetizing intellectual property. This collaboration underscores Malaysia's potential as a significant player in the digital realm, emphasizing innovation, education, and blockchain integration into the local business ecosystem. In essence, Malaysia's efforts, supported by Acxyn and MDEC, not only aim to establish the country as a global gaming hub but also as a leader in digital innovation and blockchain technology. This is part of a broader strategy to fuel economic growth, nurture local talent, and position Malaysia at the forefront of the digital age, showcasing its commitment to becoming a key player in the global digital and gaming industry.

Acxyn is innovating the video game industry by launching the first decentralized Proof-of-Fun algorithm to construct vital economic infrastructure for game developers. This mechanism aims to revolutionize game monetization, enabling developers to earn rewards by contributing data to a valuation process that assesses the fun and engagement levels of their games. By addressing challenges like managing in-game economies and tokenizing assets, Acxyn's solution empowers developers to focus on creating engaging games that attract and retain players. The Proof-of-Fun algorithm rewards developers with Acxyn tokens for their contributions, which can be used for various purposes, including liquidity incentives, governance, and payment of fees. This approach offers a transparent, objective, and fair method for evaluating games, promising to enhance the value of game-fi economies in Web3 and provide developers, players, and investors with a clearer understanding of a game's value. Acxyn's initiative could significantly influence the future of Web3 gaming, making the industry more vibrant, dynamic, transparent, and fair.

Valuing token economies is a complex but essential process for participants in the cryptocurrency and decentralized finance (DeFi) space, including developers, investors, and users. The value of a token within a web3 ecosystem is critical for the development and maintenance of decentralized applications (dApps), enabling developers to set clear pricing and foster a sustainable business model. This, in turn, attracts users and drives dApp growth through increased adoption and engagement. The article explores methods for valuing DeFi Protocol tokens, which are vital for facilitating transactions in DeFi systems, offering insights into their use across various financial services without traditional intermediaries. These tokens can serve multiple roles, including security, governance, and rewards/utility, influencing their valuation based on utility, distribution, and risk premium. A highlighted approach for token valuation involves forecasting future token flows and estimating a risk premium, considering the token's utility and distribution among holders to assess its long-term value. The valuation process also accounts for the specific risks associated with a protocol, requiring a deep understanding of the market and the protocol's characteristics. Traditional valuation models often fall short in accurately capturing the value of crypto assets due to the unique and evolving nature of token economics. The article references ULU Ventures' equation as a method to evaluate DeFi Protocol tokens, emphasizing the need for a consistent valuation approach that considers long-term intrinsic value, liquidity risk, comparability with startup investments, and a consistent set of considerations. In conclusion, the valuation of DeFi Protocol tokens is pivotal for the growth and sustainability of dApps and the broader DeFi and GameFi ecosystems. By employing a thorough and transparent valuation process, developers and investors can gain critical insights into token value, navigating the complexities of the cryptocurrency world more effectively.

Video games are now a treasure trove for Hollywood and platforms like Netflix and Disney+. With big hits like Pokémon movies and popular Netflix series such as Arcane, video game stories have become central to modern culture. Although the first movie adaptation, Super Mario Bros., was a flop in 1993, successes like Lara Croft: Tomb Raider and Resident Evil later proved video game IPs could be blockbuster gold. Today, video game adaptations are everywhere, bringing in huge box office and streaming success. The shift towards video game content comes as Hollywood searches for new, engaging IPs, moving away from traditional book and comic adaptations that no longer resonate with younger audiences. Video games, once niche, are now mainstream, providing immersive experiences that cross cultural borders, something that older movie franchises can't always do. Platforms beyond Hollywood and Netflix, like YouTube, have shown the massive appeal of gaming content, with billions of views and a vast, engaged audience. This has opened the door for content creators, especially those focusing on indie games, to explore these IPs deeply, creating content that resonates with dedicated fans. Licensing indie game IPs allows creators to produce authentic content, benefitting both the creators and the games' visibility. Moreover, platforms like Acxyn are innovating by using blockchain technology to help game developers monetize their IPs early on. This approach offers a new funding model, allowing for the creation and marketing of games with the community's support, showcasing the evolving landscape where video games and entertainment intersect more than ever.

Early video games introduced the first digital currencies, laying the groundwork for virtual economies within MMORPGs like World of Warcraft and MapleStory, where players traded in-game assets for real cash. This evolved significantly with the advent of Web3 gaming, enhancing digital ownership through NFT technology, interoperability, and trustless transactions. The first blockchain game, Huntercoin, emerged in 2014, followed by CryptoKitties in 2017, which popularized NFTs. Despite their initial success, these games faced challenges like inflationary models and high transaction fees, illustrating the complexities of digital economies. Axie Infinity, emerging as a leading Play2Earn game, demonstrated both the potential and pitfalls of Web3 gaming, with unsustainable tokenomics leading to a significant crash in value. The industry learned from these experiences, recognizing the importance of fun gameplay, well-designed digital economies, and the need for games to be more than profit-driven ventures. Looking ahead, the future of Web3 gaming appears promising, with high-quality games in development and a shift towards leveraging blockchain technology without compromising on gameplay quality. Acxyn aims to bridge the gap between Web2 and Web3 gaming, providing developers with tools to integrate blockchain technology effectively, emphasizing the role of fun and sustainable digital economies in the success of Web3 games.

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