Web3 Watch: Crypto Gaming Console in the Works, Nike’s Metaverse Plans

Web3 gaming console is met with mixed reviews

Web3 company Polium is attempting to build a gaming console that will support multiple blockchains and NFTs. The company seeks to “bring mass adoption into the Web3 space” to entice traditional gamers away from strictly playing on their PCs. 

Heralded “Polium One,” the console will run games built on the ImmutableX, Ethereum, Solana, Polygon, BNB Chain, Harmony, EOS and WAX blockchains. A multichain wallet for trading, swapping and staking cryptocurrency will be available, according to press materials.

Its estimated release date is set for the third quarter of 2024, but the device is still a work in progress. Many Twitter users have been quick to criticize the project.

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After Polium’s logo was called out for resembling the Nintendo GameCube logo, the company denied the likeness via Twitter and stated a new original logo is in the works.

The intended specifications for the console include 4K Ultra HD resolution at 120 frames per second and a fingerprint scanner on the controller that was originally called Touch ID — until Twitter users pointed out the term is an Apple trademark.

Polium aims to have a functional prototype in “a few months” that is “built by the community.” 

RTFKT provides new utility to Clone X holders

The Nike-owned RTFKT NFT (non-fungible token) collection has marked the beginning of a “new era” by granting full commercial rights to Clone X NFT holders. The company said owners will be able to use their Clones to mint fan art NFTs, make merch or music, and create their own businesses.

RTFKT is providing community members with the necessary files of their Clones to render 3D models and animations on software such as Maya and Blender. 

The company envisions an ecosystem where a new generation of creators can collaborate with 3D artists, become virtual YouTubers or design their own wearables. 

“The era of PFP is over, welcome to the Avatar Economy,” RTFKT stated on Medium.

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Additionally, Nike recently filed a patent with the United States Patent and Trademark Office (USPTO) on June 30 for “video game integration” of NFTs.

The filing states that Nike seeks to patent a method where a “virtual object,” such as a “shoe, article of apparel, headgear, avatar or pet” will be used in digital collectible games from basketball and soccer. Users would be able to unlock NFT sneakers named “CryptoKicks” for their avatars, and physical twins of shoes and clothing will be available for retail sale. 

The application cites Nike’s main motivations as a need to “more directly influence and/or control” the exclusivity and supply of digital objects in the virtual market as a way of tackling counterfeit footwear and imitation goods. Additionally, the sportswear giant sees creating video games as an opportunity to further physical brand engagement by influencing users in the digital realm. 

Phones with built-in crypto wallets are the new trend

First, Solana Labs announced its plan to build a Web3 Android mobile phone, Saga, to easily transact with cryptocurrency. Now, Ethereum scaling solution Polygon has partnered with two other phone makers to further Web3 access for mobile users.

HTC is building the HTC Desire 22 phone so that users can connect with its Vive Flow virtual reality glasses and stream content from the phone’s screen to the wearable’s display. Users will be able to manage their tokens and NFTs on Ethereum and Polygon via the Vive Wallet and the Vive Marketplace. The apps will offer “rich metaverse experiences without a VR headset.”

Polygon has teamed up with phone company Nothing to integrate its tech into the Nothing Phone (1) launching on July 12. The smartphone will not officially be released in North America but will work in the region.

Smartphone users will have access to apps and games on the Polygon platform, as well as its payments features and its proof-based identification solution, Polygon ID. Those who pre-ordered the Nothing Phone (1) became part of an NFT membership club and could receive Nothing’s Black Dot NFTs, which provide early access to certain products, events and benefits. 

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Latest Funding News

1. Zigazoo, a social network for kids built on the Flow blockchain, recently announced a $17 million Series A funding round. Liberty City Ventures led the raise, with participation from venture capital firm Causeway, the NBA, Dapper Labs, OneFootball, Medici VC, Animoca Brands, Lightspeed Venture Partners, Core Ventures, Spartan Group and TikTok stars Charli and Dixie D’Amelio. Zigazoo’s mission is to provide a “safe and positive online community” for children by helping them navigate the world of Web3, NFTs and the metaverse. Capital will be spent on the expansion of Web3 offerings such as NFT drops, increasing the token’s in-app utility, and building an NFT creator studio.
2. Gaming-focused VC firm Konvoy Ventures has raised a $150 million fund to support its portfolio companies during the market downturn and back other gaming startups. The company plans to spend 20% to 30% of that money on blockchain-based games. The firm has previously backed Sky Mavis, the developer of Axie Infinity, as well as the Genopets NFT game and the Ready Player Me avatar platform.
3. Bonfire Union, the investment arm of Web3 protocol Mask Network, announced that it has raised a $42 million fund with support from Binance, Alameda Research, Animoca Brands, Digital Currency Group, Arweave, HashKey Group and others. Mask Network is a Binance-backed startup that enables users to send cryptocurrencies and encrypted messages through platforms such as Twitter. The firm plans to invest in the “social ecosystem” of Web3, inspired by a fellow Chinese company Tencent, creator of the WeChat app.

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