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Magic Eden Introduces SFT Marketplace and Minting Capabilities for Genopets

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Magic Eden, the leading community-centric, NFT marketplace on Solana, introduced the Company’s first Semi-Fungible Token (SFT) marketplace in conjunction with the popular move-to-earn NFT game Genopets. For the first time, members of the Genopets community can mint and trade in-game SFTs vital to their crafting economy, like Crystals and Terraform Seeds, through the Magic Eden marketplace, creating a more efficient gameplay model.

As the go-to destination for the NFT creators and traders on Solana, Magic Eden is expanding into Web3 games by providing essential tooling and blockchain support to NFT gaming projects. Through its partnership with Genopets, Magic Eden will enable a streamlined experience for gamers by powering the minting and trading of SFTs–or digital assets that can be minted in quantities greater than one. The marketplace is also supported by Serum’s asset agnostic orderbook, which allows protocols to use Serum as their backend matching engine for any type of financial product.

SFTs are the newest addition to the GameFi space that will bring familiar Web2 gaming mechanisms like “stackable” assets onto the blockchain. In Web3 games, NFTs have become a core technology that allows game developers and players to store in-game assets (like accessories, weapons, characters, clothing, etc.) on the blockchain. For certain in-game assets that are not 1:1 and can be redeemed in greater quantities, SFTs become a useful way to “stack” like-for-like assets in the player’s inventory. For creators developing games on the blockchain, SFTs lower the amount of resources needed for players to efficiently mint and transact during gameplay. SFTs minted on Solana share a “Mint Account”, which results in less storage used per asset and lower minting fees.

Crystals and Terraform Seeds are among the first Genopets SFTs that will be listed on Magic Eden’s marketplace. Within the game, Crystals are base layer materials used for crafting other items and players will be able to use multiple quantities of them at a time. Terraform Seeds allow players to make aesthetic customization and performance upgrades to evolve their Genopets’ habitats. Traditionally, if a player sells ten Water Crystals to craft a new item or sells a number of Terraform Seeds, they would be required to sell each NFT individually. SFTs allow players to sell all ten Crystals or Terraform Seeds simultaneously and experience more efficient gameplay via one-click trading features.

“We are excited to partner with Genopets to power their new SFT marketplace which will bring familiar Web2 trading mechanics to players looking to build and grow their in-game assets. In support of NFT gaming developers, we’re confident that our SFT tooling will allow projects to make further in-roads with creating high-concept, playable games on the blockchain,” said Tony Zhao, Head of Gaming Investments for Magic Ventures, a venture arm of Magic Eden that will focus on investing in Web3 games.

Albert Chen, CEO and Co-Founder of Genopets, said: “We’re thrilled to work with Magic Eden to continue pioneering the future of Web3 games by being one of the first games on Solana to roll-out efficient token technology and game mechanics that enable players to meaningfully create and transact value.”

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Gambling in the USA

ILLINOIS LOTTERY REMINDS PLAYERS ‘TIS THE SEASON TO GIFT RESPONSIBLY

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With the holiday gift-giving season underway, the Illinois Lottery is reminding players that lottery games are for grown-ups – not kids.

This holiday season, the Illinois Lottery is once again partnering with the Illinois Council on Problem Gambling(ICPG) in the Gift Responsibly Campaign. The annual holiday campaign, spearheaded by the National Council on Problem Gambling, is designed to increase public awareness of the impact and inappropriateness of giving lottery products as gifts to minors.

“Lottery products, especially Instant Tickets, are a popular gift during the holiday season but they are not an appropriate gift for those under the age of 18,” said Harold Mays, Illinois Lottery Director. “Responsible gaming is an integral part of the Illinois Lottery, and we are pleased to once again support the Gift Responsibly Campaign this holiday season by reminding players that lottery games are for adults only.”

The Illinois Lottery joins a network of more than 80 national and international lotteries encouraging players to gamble responsibly and to help keep the holiday season festive by gifting lottery tickets only to adults. Non-lottery organizations are also participating in the campaign as an effort to increase awareness of the risks of underage lottery play during the holiday season.

“Studies have shown that gambling at an early age can increase the risk of problem gambling later in life, including a strong association between age of gambling onset and problem gambling severity among those who receive lottery tickets,” said Dave Wohl, Executive Director at ICPG. “We value our partnership with the Illinois Lottery and applaud their commitment to raise awareness about the risks of youth gambling through the Gift Responsibly Campaign.”

In addition to the Gift Responsibly campaign, the Illinois Lottery promotes responsible play year round by reminding players to Be Smart, Play Smart®. Players are encouraged to play for fun, not funds, and to set a budget and stick to it. For more information on how to play and gift responsibly, please go to the Illinois Lottery website and visit the Responsible Gaming page.

If you or someone you know may be experiencing problems when playing lottery games, please call 1-800-GAMBLER. This toll-free helpline is answered by trained specialists 24/7/365.

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Gambling in the USA

Online Gambling Market Size Worth USD 184.28 Billion in 2032 | Emergen Research

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The global online gambling market size was USD 63.53 Billion in 2022 and is expected to register a steady revenue CAGR of 11.3% during the forecast period, according to latest analysis by Emergen Research. Rising demand for online gambling, due to convenience and accessibility for players is a key factor driving market revenue growth. Online gambling is the act of playing chance games or betting on various events over the Internet. Players can use their devices to access these platforms and enjoy a wide variety of games and betting possibilities from anywhere at any time. Online gambling encompasses casino games, such as slots and poker, as well as sports betting on activities including football or horse racing. Online gambling platforms are accessible 24 hours a day, seven days a week, making these ideal for gamers with hectic schedules.

In addition, increasing Internet penetration and rising usage of mobile phones among individuals are other key factors driving revenue growth of the market. Mobile-optimized games with touch-screen controls are prevalent in virtual casinos, catering to the interests of handheld device users. Social media channels are used by online casinos to actively engage with players. Moreover, online gaming platforms are more feature-rich, with better visuals and faster load times, which provides players with a more intense and lifelike experience, hence driving market revenue growth. However, gambling addiction is a severe problem that affects a large number of people, and it can lead to financial difficulties, social isolation, and even depression, which could restrain market revenue growth. People who are addicted to online gambling may spend a significant amount of money even when they cannot afford it.

Scope of Research

Report Details Outcome
Market Size in 2022 USD 63.53 Billion
CAGR (2023–2032) 11.3%
Revenue Forecast To 2032 USD 184.28 Billion
Base Year For Estimation 2022
Historical Data 2019–2021
Forecast Period 2023–2032
Quantitative Units Revenue in USD Billion and CAGR in % from 2023 to 2032
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered Type of gambling, platform type, gaming model, mode of payment, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled Bet365, 888 Holdings Plc, Betway, Flutter Entertainment plc, Bwin, unibet, Playtech, Microgaming, NetEnt AB, Evolution AB, IGT, NOVOMATIC AG,  Scientific Games, Yggdrasil Gaming Ltd, Pragmatic Play, Play’n GO, BETSSON AB, StarsGroup .com, Kindred Group plc, and Entain
Customization Scope 10 hours of free customization and expert consultation

 

Major Companies and Competitive Landscape

The global online gambling market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective gambling solutions in the market. Some major players included in the global online gambling market report are:

  • Bet365
  • 888 Holdings Plc.
  • Betway
  • Flutter Entertainment plc.
  • Bwin
  • unibet
  • Playtech
  •  Microgaming
  • NetEnt AB
  • Evolution AB
  • IGT
  • NOVOMATIC AG
  •  Scientific Games
  •  Yggdrasil Gaming Ltd.
  • Pragmatic Play
  • Play’n GO
  • BETSSON AB
  • StarsGroup .com
  • Kindred Group plc.
  • Entain

Strategic Development

  • On 17 August 2023, MGM Resorts International announced the debut of its BetMGM iGaming and online sports betting brand in the UK, marking the beginning of MGM Resorts’ strategy to grow the BetMGM brand into international markets. The new international BetMGM-branded product makes use of LeoVegas’ technology and platform, which was acquired by MGM Resorts last year.

 

Some Key Highlights From the Report

  • The casino gambling segment accounted for largest revenue share in the global online gambling market in 2022. This is due to rising demand for online casinos since these allow to avoid all of the unnecessary inconveniences while playing from the comfort of home w. Online casinos are regulated by regulatory authorities to ensure fair gaming practices, giving players a safe and trustworthy atmosphere to enjoy their favorite games, as a result, players can focus on the fun of online gambling without worrying about security of their transactions or. In addition, online casinos provide several bonuses to new players who join the site, as well as daily promotions to keep things exciting for returning players, which is also  expected to drive revenue growth of this segment during the forecast period.
  • The sports betting segment is expected to register steadily fast revenue growth rate in the global online gambling market during the forecast period due to rising demand for online sports betting among individuals. This real-time action adds a new level of excitement to the game, allowing individuals to react to changing conditions and make smart decisions. Live streaming of sports and matches is frequently accessible, allowing one to carefully follow the action and improve betting experience.
  • The Europe market accounted for largest revenue share in the global online gambling market in 2022. This is attributed to rising mobile gaming apps and mobile-responsive websites, which has made it easy for individuals to gamble on the go. In addition, shift toward more favorable regulations for online gambling in countries, such as Germany and the UK, is another factor driving market revenue growth of this region. For instance, on 1 July 2021, the new State Treaty on Gambling entered into force, which enable online slot machine games, Internet casinos, and online poker in Germany.

 

Emergen Research has segmented the global online gambling market on the basis of type of gambling, platform type, gaming model, mode of payment, and region:

  • Type of Gambling Outlook (Revenue, USD Billion; 2019–2032)
    • Casino Gambling
      • Slot Machines
      • Table Games
    • Sports Betting
    • Poker
    • Bingo
    • Lottery and Scratch Cards
    • eSports Betting
    • Fantasy Sports
    • Social Gaming
  • Platform Type Outlook (Revenue, USD Billion; 2019–2032)
    • Desktop
    • Mobile
    • Apps
    • Browser-Based
  • Gaming Model Outlook (Revenue, USD Billion; 2019–2032)
    • Real Money Gambling
    • Free Play
  • Mode of Payment Outlook (Revenue, USD Billion; 2019–2032)
    • Credit/Debit Cards
    • E-wallets
    • Cryptocurrencies
    • Bank Transfers
    • Prepaid Cards

Mobile Payments

  • Regional Outlook (Revenue, USD Billion; 2019-2032)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. UK
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of Middle East & Africa
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Gaming

Gamescom Latam Set to Start in June 2024 in São Paulo

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On 26 June 2024, the starting pistol will be fired in São Paulo for the first gamescom latam, the new gamescom satellite event for all of South America. This was announced at an event in Brazil by the involved partners: game – The German Games Industry Association, Koelnmesse, BIG Festival, and Omelete Company.

Following gamescom asia, which has been taking place in Singapore since 2021, gamescom latam will be gamescom’s second international satellite event. It integrates BIG Festival, which is popular with the games community in South America and drew around 50,000 attendees in 2023. gamescom latam is aimed at both the gaming community and trade visitors, with respective areas for each target group.

“The international importance of gamescom grew significantly again in 2023, as its impressive reach and the on-site presence of leading figures in the industry demonstrate. We’re convinced that, more than ever, the games industry needs events that are gathering places for the entire games ecosystem. With the magnetic power of its international brand, gamescom can help make this happen. So we’re very excited to be putting on gamescom latam together with our partners in the coming year to bring the unique festival feeling of the world’s largest games event to South America,” Felix Falk, Managing Director of game, said.

“With our events abroad, we accompany our customers to the most important growth markets worldwide. After gamescom asia, gamescom latam is by no means a competitor to the successful original event in Cologne, but rather an ideal addition to our international portfolio,” Gerald Böse, CEO of Koelnmesse, said.

gamescom latam will take place from 26 to 30 June 2024 at the São Paulo Expo Exhibition & Convention Center.

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