Former Activision, Disney and Lucas Film developers unveil NFT-powered video games

Video game publisher MetalCore Foundation has unveiled a new open-world game that incorporates non-fungible tokens, or NFTs, into the gaming experience, highlighting the ongoing innovation underway in the GameFi sector.

On Tuesday, the foundation unveiled MetalCore, a massive multiplayer fighting game that combines traditional gaming with the GameFi features of blockchain technology. Developed by Studio 369, the game allows players to collect rare weapons, cosmetic masks and skins that can be used in combat and traded as NFTs in an open market.

MetalCore players will have the opportunity to earn rewards in the game and become virtual landowners, through which they will be able to mine resources and generate tax revenue.

The official trailer for the game depicts players piloting war machines against enemy factions to gain control of an alien planet.

MetalCore launches its first NFT pre-sale in January 2022, and a private alpha for select PC players will be available this spring.

The team behind MetalCore consists of developers formerly of Activision, Disney, Lucas Films, Midway and others. They have also worked on projects such as Mortal Kombat and Gears of War.

Blockchain technology is transforming the gaming industry by enabling developers to create virtual economies powered by cryptocurrencies and NFTs. According to David Gan, head of OP Crypto Capital, gaming will be the first industry to bring 100 million active users to crypto.

GameFi, which refers to the financing of games through decentralized financing (DeFi) and NFTs, has already produced two popular titles: Axie Infinity and Decentraland. Both ecosystems are powered by cryptocurrencies with market values ​​of $ 8.2 billion and $ 5.5 billion, respectively.

Related: Ubisoft will seek to invest in and create blockchain games

Cointelegraph also reported on Tuesday that blockchain venture firm Sanctor Capital has raised $ 20 million to fund new GameFi projects. Last week, it was reported that Huobi Group, the operating company behind the large cryptocurrency exchange, launched its own GameFi development fund worth $ 10 million.