Take-Two Interactive Software ($TTWO), the mastermind behind the behemoth “Grand Theft Auto” series, is diving headfirst into the world of web3 gaming. Through their recent $12.7 billion acquisition, Zynga ($ZNGA), they’re rolling out Sugartown – a game built on $ETH. 😱
And they’re not just dipping their toes; they’re touting this as the first time a major mobile game developer has crafted a crypto game from scratch.
Play, Stake, and Earn: Players will need ETH to enter the sweet world of “Sugartown.” Once in, they can stake to juice up their energy, play games, and earn in-game currency for some tantalizing rewards. And for those itching to get their hands on the access tokens, named Oras, keep your eyes peeled.
Zynga’s dropping 10,000 of them in an “initial run” later this year. 💦
SUGARTOWN.
Created by @Zynga Web3 Gaming. Coming soon. pic.twitter.com/7ItiG9xODt
— Sugartown (@visitsugartown) August 14, 2023
A Big Test For Web3
If Sugartown becomes the next big hit, it could be the nudge other gaming giants need to dive into the potentially gold-laden waters of web3 gaming.
Take-Two’s CEO, Strauss Zelnick, has been playing a bit of hard-to-get with NFTs. While he’s shown interest, especially given the billions they’ve raked in from GTA’s microtransactions, he’s also wary of the NFT market’s speculative vibes.
He’s keen on the potential but wants to steer clear of a “speculative economy.”
The NFT market has seen better days since the glory days of Axie Infinity’s ($AXS) soaring trading volumes. And while NFT-Gaming investments took a nosedive in June, they bounced back last month. ☔