A report published by the Block chain Gaming Alliance shows that non-fungible token games generated billions in revenue in the third quarter. Block chain gaming continues to grow and dominate the non-fungible token (NFT) space with a share of roughly 22% of all NFT trading volume in the third quarter of 2021, according to a report released by the Block chain Gaming Alliance, or BGA. The report showed that NFT games accumulated $2.32 billion in revenue between July and September. Meta verse-related activity was also highlighted in the report. It showed that virtual land sales reached $42.6 million while the total market capitalization for virtual world decentralized apps reached an all-time high of $4.6 billion at the end of November. Additionally, the report mentioned that there is a “6,566% increase in daily unique active wallets.” These are wallets that interact with smart contracts connected to games. The report also cited significant investments in block chain gaming companies...
The new RTFKT acquisition confirms Nike’s interest in being a prominent contributor to the virtual world of the metaverse. Sportswear manufacturer Nike announced the acquisition of virtual sneakers and collectibles brand RTFKT. Nike becomes the biggest U.S.-based athletic products manufacturer through this partnership to join the metaverse bandwagon. A report from Nov. 02 highlighted Nike's submission of requests for patenting the words — namesake, swoosh logo and just do it — for use online and in online virtual worlds." The filing was accompanied by two new job postings for virtual material designers, signaling the company's intent to enter the metaverse. However, the new RTFKT acquisition confirms Nike’s interest in delving into the metaverse ecosystem. According to Nike, acquiring RTFKT will help the company “deliver next-generation collectibles that merge culture and gaming.” John Donahoe, the president and CEO of Nike believes that the move helps accelerate Nike’s d...