Analysis of the Financing Situation in the Blockchain Gaming Sector in 2022 and the N3twork Studios Game Project

In 2022, there were a total of 334 public financing events in the blockchain gaming sector, with a total financing scale of 4.4 billion USD. Many of these projects saw investment from well-known institutions. Recently, blockchain game developer and publisher N3twork Studios is set to launch its first game, Legendary: Heroes Unchained (LHU). This article will provide a detailed introduction to the project.

N3twork Studios was established in January 2022, formed by the gaming team N3TWORK that was acquired by a certain blockchain gaming platform. The platform has over 40 partners and more than 15 million gaming users in the blockchain gaming sector. In 2021, the platform raised funds twice, totaling over $900 million, with investors including several well-known crypto institutions and traditional sector companies.

On May 18, 2022, N3twork Studios announced the completion of a $46 million Series A funding round, led by Griffin Gaming Partners, with participation from several institutions. The funds will mainly be used for the development of two blockchain games, Legendary: Heroes Unchained and Triumph. N3twork Studios plans to approach from two directions: crypto-native games and a mix of free games with Web3.

LHU is a play-to-earn role-playing game based on the once-popular mobile game Legendary: Game of Heroes IP. The N3twork Studios team consists of over 60 members from several well-known gaming companies. The core management team includes Executive Chairman Neil Young, President Matt Ricchetti, and Chief Operating Officer Josh Sell.

LHU opened pre-registration in September 2021, and by December, over 100,000 players had completed pre-registration. The game will introduce NFTs through Drops or Drop Events, focusing on organizing NFTs around Seasons. The Founder's season will provide players with the opportunity to purchase NFTs for the first time. The Founder NFT minting opportunity and early access version will be available in the first quarter of 2023.

LHU uses two types of NFTs: Hero NFT and Gear NFT. Hero NFTs have levels and evolution attributes that can be improved through gameplay. Gear NFTs can increase the strength and attributes of heroes. The number of NFTs issued at the time of release is fixed, and some will be used for airdrops, giveaways, and other purposes.

LHU is a hero-based card collection game that includes PvE, PvP arena, as well as GvE and GvG modes between guilds. Each hero has 9 fixed characteristics and 6 assignable attributes, and players need to allocate attribute points reasonably based on the scenario. Battles in the game are divided into multiple rounds, and players can use energy multipliers to speed up the combat process.

LHU adopts a dual-token economic model, which includes the utility token LHU and the functional token HP. LHU is mainly used for hero evolution and marketplace transactions, while HP is used to restore hero health points. The game also features three off-chain in-game currencies: energy, evolution, and health.

The N3twork Studios team has rich experience in game development and publishing, and is expected to expand the audience for crypto games. Its economic model design draws lessons from previous projects and plans to regulate the ecological economic balance through various means. However, whether it can successfully spark user interest and maintain ecological balance will still require time and practical verification. Given the team's background and resources, this project is worth continued attention.