Category: News, NFT News

Week in GameFi: Web3 Gaming Down Bad, Adin Ross Plans GTA 6 Crypto Server

By │Published On: February 7, 2025│4.7 min read│Views: 11│0 Comments on Week in GameFi: Web3 Gaming Down Bad, Adin Ross Plans GTA 6 Crypto Server│

The Web3 gaming sector drops 28%.

  • The Web3 gaming sector drops 28%
  • VCs inject fresh capital into the market
  • Crypto Czar David Sacks holds disappointing press conference
  • Animoca Brands goes to Davos
  • Kuroro Wilds Alpha finally goes live on Ronin
The Web3 gaming sector has been hit harder than most other sectors in the crypto ecosystem, but there is still hope on the horizon with VCs like Laton Ventures and TVM Ventures increasing capital by allocating more funds to GameFi.
The top crypto tokens by market cap are all down, with Bitcoin holding the strongest after White House Crypto Czar David Sacks held a press conference without dropping any “bombs” on the market.

Market Overview

The GameFi market cap was annihilated, dropping by just over 28% from $19.72 billion to $14.16 billion over the last seven days.

Things are not looking good, bruv! We are just under 2% away from the local low in August last year.

GuildFi doesn’t seem to care what the others are doing and is up almost 300% while the rest of the market is bleeding.
According to DeFiLlama’s Narrative Tracker, GameFi was ranked 16th and outperformed PolitiFi and NFTs.
Although all the top GameFi tokens are down bad, some of the industry’s OGs and biggest players are still optimistic.

Top Decliners:

The Kuroro Wilds Alpha is finally LIVE after migrating to Ronin last September.
Animoca Brands invested in Domin Network.

Why are there so many games moving over to the Ronin Network?

Even the adoption of GameFi has slowed down over the last seven days.
  • Meowtopia’s UAW surges by 23.87% with 700,000+ users across LINE’s Mini Dapp & Telegram Bot.
  • SERAPH: In The Darkness gains 17.29% as the gates of Seraph close.

Adin Ross and FaZe Banks Plan Crypto ‘GTA 6’

Adin Ross revealed his intention to launch a custom server integrated with cryptocurrency for Grand Theft Auto 6 alongside FaZe Clan CEO Richard “FaZe Banks” Bengtson. They aim to create the “biggest server” with an in-game economy powered by a new token.
Their plans face major hurdles due to Rockstar Games‘ 2022 policy banning the use of cryptocurrencies, crypto assets, and NFTs on player-run servers for GTA Online and Red Dead Online. This policy previously forced the shutdown of similar crypto-based servers, such as Lil Durk‘s NFT-centric server, The Trenches.
While rumors have circulated about potential crypto features in GTA 6, Rockstar has not confirmed any changes to its anti-crypto stance.

‘What Is This Sorcery’ Is Raising Funds via Kickstarter

What Is This Sorcery (WITS), a trading card game built on Ethereum layer-2 networks Skale and Abstract, has launched a Kickstarter campaign to fund the production of physical cards. Kickstarter actively supports the project through advertising and outreach.
Co-founder and CEO Nick Grossi claims WITS is the first Web3 game to partner with Kickstarter. It’s already available for free on the Epic Games Store. WITS offers both digital and physical assets, with exclusive cards and early access perks for Kickstarter backers.

TVM Ventures Launches $100 Million Fund

Former TON Foundation president Steve Yun has launched TVM Ventures, a $100 million fund designed to support early-stage startups within the TON ecosystem. Backed by Yun and an undisclosed Ton coin miner, the fund focuses on DeFi and PayFi projects.
TVM Ventures targets startups valued between $5 million and $10 million, offering investments of $500,000 to $1 million per project. DeFi projects must be built natively on the TON Virtual Machine (TVM), while PayFi projects have cross-chain flexibility but must fully support TON.

Laton Ventures Raises $50 Million

Laton Ventures, founded by Görkem Türk and based in Istanbul, has secured $50 million in its first funding round to support early-stage gaming and app startups globally.

Focusing on pre-seed and seed-stage investments, the firm targets both gaming studios and non-gaming app companies, with a particular emphasis on mobile gaming and applications designed for large audiences.

Laton Ventures not only provides capital but also offers operational support, contributing to rapid growth among its portfolio companies. Turkish mobile gaming company Grand Games and another startup have quickly reached Series A funding under its guidance.

What You Can Do Now

  • Focus on quality over hype: look out for games people play for fun rather than just for earning.
  • Check for real utility and in-game integration: projects where tokens and NFTs have multiple use cases within the game such as staking, upgrades, and crafting, tend to be more sustainable.
  • Evaluate team experience and transparency: teams with a proven track record in gaming or blockchain are more likely to deliver.
  • Assess community activity and growth: high player retention and active communities (Discord, Twitter, Reddit) show that a game can attract and keep players.
  • Check out all the latest projects funded by VCs.

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