The NFT market continues to face low sentiment as sales volumes have dropped 29% in the last 30 days, and mainstream media is reporting NFTs as “worthless.” Covered by The Guardian, Cointelegraph, Yahoo, The Hindu Times, and more, a recent study conducted by dappGambl, which analyzed data from NFT Scan and CoinMarketCap, found that 95% of NFT collections, equivalent to 23 million individuals, hold NFTs with no market value – as 69,795 out of 73,257 collections have a market cap of 0 Ether.
The gaming industry is a highly competitive, fast-growing, and challenging market to penetrate. The increasing adoption of blockchain technology and popularity of Web3 gaming has expanded the industry. Within the gaming community Web3 games often mirror existing Web2 games and add NFTs and tokenomics to call themselves a Web3 game - hardly the most creative approach. Current game developers are reaffirming key values in games with enjoyability, accessibility, and creative gameplay top of their minds. Being able to add value to the market with something new is key for a game to gain traction and market share.
Morningstar Venture’s portfolio company, Humans.ai, is a leading blockchain and AI solutions provider. By leveraging the power of both technologies, Humans.ai is creating an ecosystem where artificial intelligence is scaled and governed within an ethical and transparent framework.