Spielworks, a leading blockchain startup specialising in gaming and decentralised finance (DeFi) solutions, integrates its “Dungeon Master” game with Polygon, the leading Ethereum layer-2 scaling platform, to enable NFT staking. Through the integration, “Dungeon Master” users can stake Polygon NFTs from three leading NFT platforms through Spielworks’s Wombat wallet. These include collections from the Blockchain Cuties and Planet IX Web3 games, and NeftyBlocks, a major NFT marketplace on the Wax network whose generative avatar NFTs have a Polygon bridge.

As Web3 gaming continues its growth, it offers intriguing new monetisation mechanisms to the crypto landscape, providing gamers with the ability to win real-world value through NFTs acquired during gameplay. These new mechanisms grant users unique rewards and ownership rights, which fuel the industry’s rising popularity. Among these monetisation mechanisms is NFT staking, which provides gamers with the opportunity to earn rewards and other valuable incentives.

Starting on June 8, Wombat users will be able to stake NFTs from three major Polygon-based platforms through the Wombat Wallet. Additionally, Spielworks’s own NFTs will also be available for staking, enabling users to earn rewards, which include NFT packs, reward points and more.

The Polygon platforms partnering with Spielworks include:

• Blockchain Cuties: An NFT collectible game running across five blockchain networks, offering vast possibilities to explore, trade and create.
• Planet IX: An NFT-based GameFi-strategy platform developed by Nibiru Software that includes a sci-fi game, metaverse and a large marketplace.
• NeftyBlocks: One of the largest NFT marketplaces providing premium tools to create, drop and gamify NFTs.

Spielworks has built one of the fastest-growing blockchain gaming ecosystems in the market, boasting more than 3 million sign-ups and 65 thousand daily users. The ecosystem incorporates its multi-chain non-custodial Wombat Wallet, crypto rewards platform Womplay featuring 40 AA and AAA supported titles, and Top 20 NFT staking game Wombat Dungeon Master, counting more than 1.5 million staked NFTs to date.

“Integrating Polygon NFTs into the Wombat ecosystem is a huge milestone that will enhance our community’s experience. NFT staking is becoming an increasingly sought-after feature within the Web3 gaming space because it provides a new and innovative way for gamers to leverage their assets to earn additional rewards. As a layer-2 blockchain assisting Ethereum’s scalability, Polygon plays a massively important role in the Web3 gaming ecosystem, and these integration partnerships add even more value to the network,” Adrian Krion, CEO and Co-Founder of Spielworks, said.

IPO bound Yudiz Solutions Ltd, a blockchain, AI, and gaming focussed enterprise technology company has received an NSE approval for an SME IPO. With this approval, the company is set to invest approx 80 Million INR to set up a gaming studio and a multi-gaming platform. The game studio will aim to produce over 40 games in a year.

Yudiz Solutions, which is already known to develop apps, will now be the first game developers to be publicly listed and have its own publishing platform.

The new Yudiz game studio will focus on creating high-quality games for multiple platforms. These games will leverage Yudiz’s cutting edge technology solutions and in-house expertise to design and develop the games. They will also develop games for other publishers and will also allow other developers to publish games on their new publishing platform. This will be the only gaming company to develop and publish their own and others games as well.

Bharat Patel, Chairman & Director, says “The new business ventures will enable sectoral growth, provide us with the necessary resources to drive innovation, expand our game portfolio, elevate the gaming experience and develop gamer communities. It will also enable us to forge strategic partnerships, attract top talent, and cement our position as strong contenders in the space”

With an EBITDA of 21.77% for FY 22-23, and a CAGR of 42.34% for the past three years, Yudiz also has a PAT of INR 2.75 CR in FY 22-23. With the recently approved DRHP the company will offload a public issue consisting of a fresh 27,17,600 equity shares.

Headquartered in Ahmedabad and is recognized as a global IT services providing solutions in AI/ML, AR/VR, IoT, as well as Blockchain, mobile app and web development across North America, Europe and Asia region. Yudiz is set to disrupt the market with their innovative solutions and products. MPL, Zydus, RR Kabel, IRM Energy, SportsBuzz are some of their clients.

The world of online gaming is in a state of constant evolution, with emerging technologies playing a significant role in shaping the future of the industry. One such technology is blockchain. Known primarily as the backbone of cryptocurrencies like Bitcoin, blockchain’s potential extends far beyond digital currencies. Its potential in the realm of online gaming is particularly intriguing and stands to dramatically reshape the industry.

Understanding Blockchain and its Relevance to Online Gaming

Blockchain technology is a decentralized digital ledger that records transactions across multiple computers. This decentralization ensures the data’s security and transparency. For the online gaming sector, blockchain’s promise lies in its ability to offer a higher degree of fairness and transparency — a crucial aspect for games such as online slots, where players need to trust the system’s impartiality.

Instilling Trust and Enhancing Fairness

In traditional online gaming platforms, players used to place their trust in gaming operators, believing that the system was fair. The introduction of blockchain disrupted this model by allowing the game mechanics to be audited and verified by the players themselves. This level of transparency is possible because the blockchain is a public ledger, where all transactions and changes are recorded and accessible to anyone. Through this, the players can verify the fairness of in-game purchases, loot drops, and even the randomness of outcomes in games, directly reducing the potential for unjust practices. Moreover, the use of blockchain technology also provides enhanced security, reducing the risk of fraud and hacking that can be rampant in traditional online gaming platforms.

Cryptocurrencies and the New Gaming Economy

The integration of blockchain technology in online gaming extends beyond fairness, opening the possibility of using cryptocurrencies for transactions. Cryptocurrencies, with their swift, secure, and low-cost transactions, could revolutionize how players purchase in-game items or credits. Furthermore, blockchain could facilitate true ownership of these digital assets, allowing players to trade them freely on blockchain marketplaces.

The Rising Popularity of Decentralized Gaming

Blockchain’s influence is already visible in the emergence of decentralized gaming — games built entirely on blockchain technology. These games allow players to have complete ownership of their in-game assets, which can be traded or sold independently of the game. This not only enhances the gaming experience but also opens up new economic opportunities for players.

Non-fungible Tokens (NFTs) and Gaming

The rise of non-fungible tokens (NFTs), a byproduct of blockchain technology, presents another exciting avenue within the gaming sector. NFTs are unique digital assets that can represent ownership of a particular item or piece of content. In online gaming, NFTs can be used to represent a piece of evidence for assets, such as: characters, equipment, or even virtual real estate.

Future Potential and Challenges

The adoption of blockchain in the online gaming industry is still in its infancy, but the potential is enormous. However, like any disruptive technology, blockchain isn’t without its challenges. Issues such as scalability, regulatory acceptance, and technical complexity need to be addressed for its widespread adoption.

Final Thoughts

Blockchain technology’s potential to create a more transparent, fair, and user-friendly online gaming experience is undeniable. As the industry continues to explore and embrace this technology, both players and gaming companies stand to reap significant benefits. Navigating the challenges and leveraging the opportunities, blockchain might indeed become a game-changer in online gaming’s evolutionary journey.