Zynga’s Ethereum-Based Game “Sugartown” Generates $5 Million in Trading Volume
Zynga, a subsidiary of Take-Two and the developer of popular games like FarmVille, made waves in August when it announced its first crypto game called “Sugartown.” The game, built on the Ethereum blockchain, has seen significant success in just three weeks.
According to data from OpenSea, thousands of the game’s access tokens known as Oras have generated over 3,000 ether (approximately $5 million) in trading volume. This achievement is notable considering the current decline in NFT market volume and active traders.
Currently, the floor price for Oras stands at around $430. However, it’s worth noting that only 6,000 NFTs were released out of the initial offering of 10,000 tokens.
The Journey into Web3 Gaming
Zynga’s partnership with Take-Two brought together two major players in the gaming industry. The acquisition by Take-Two and the subsequent collaboration resulted in the development of “Sugartown” as their entry into web3 gaming.
The game utilizes Oras, an Ethereum-based ERC-721 token, which players can use to access the game and earn energy. This energy allows gamers to accumulate an in-game currency.
Hot Take: Zynga Sets a New Standard for Crypto Games
Zynga’s release of “Sugartown” represents a significant milestone as the first major mobile game developer to create a crypto game from scratch. With impressive trading volume and player engagement within a short period, Zynga has demonstrated the potential for blockchain-based gaming experiences. As more developers explore this space, we can expect further innovation and growth in the crypto gaming industry.
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