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The metaverse started out as a word that belonged strictly to the sci-fi world, referring to a virtual universe commonly accessed by VR technology. Now, however, things have changed considerably, and the metaverse has become a common term.

The Metaverse Explained

Whether it's through popular GameFi companies such as UFO Gaming adopting the term for their platform (all their games exist on the 'Dark Metaverse'), or Mark Zuckerberg's rebrand of social media company Facebook to 'Meta', the term seems to be everywhere you turn.

Getting familiar with the concepts and terms present in the crypto space can seem intimidating, but once you're aware of them, you'll begin to realize just how often this language pops up in the real world. Here's what you need to know.

What Is The Metaverse?

The first-ever reference of a metaverse appears in author Neal Stephenson's 1992 novel, Snow Crash. Since then, it has become a catch-all term that captures both virtual and augmented realities as captured and experienced on the internet.

The metaverse has gone through a wide number of iterations in popular culture. Most famously, social media company Facebook recently rebranded as 'Meta', referencing plans to build an online world in which people can communicate and interact using VR headsets.

The metaverse also has applications in the crypto space. Crypto gaming companies such as UFO Gaming reference the 'Dark Metaverse', a virtual space where players can come together to create their own clans, own and trade virtual land, and earn NFTs and cryptocurrency.

Crypto Cheat Sheet: Everything You Need To Know

Trying to enter and understand the metaverse is akin to comprehending a whole new universe, no pun intended. Here's a cheat sheet to some of the most common terms you might come across, along with what they mean:

Altcoin: An altcoin is any alternative to Bitcoin, and can include market leaders such as Ethereum, to smaller fish that have relatively little value.

Decentralized Applications (DApps): Decentralized apps refer to applications that get designed by a team of developers that then deploy them on a blockchain. These applications often allow you to carry out actions without intermediaries, and so you'll find a lot of decentralized finance is carried out using DApps.

GameFi: The umbrella term used to describe the financialization of gaming. A combination of the words 'gaming' and 'finance', GameFi companies focus on bringing real-world value to virtual gaming enthusiasts.

Play To Earn (P2E): The phrase play to earn simply refers to a gaming model in which players are financially incentivized to keep participating. Companies such as UFO Gaming allow players to earn in-game assets in the form of NFTs, and exchange goods through their token, $UFO, allowing them to earn real-world cash while playing complexly designed games.

Token: A token is often representative of a denomination of cryptocurrency, and can be traded as an asset on the blockchain, for investment or economic purposes.

Non-Fungible Tokens (NFTs): Non-fungible tokens are units of value used to represent the ownership of unique digital assets, including digital art or any other digital collectible.

Future Plans: What To Expect From The Metaverse

The future of the metaverse is rich with possibility. The potential of a unified virtual experience opens up new opportunities for creatives, artists, and gamers, to democratize value and make new connections across the world.

Some estimate the potential value of the metaverse goes into the trillions - soon, it will not be uncommon to conduct business, make purchases, and communicate via a virtual universe, one that was previously only imaginable in science fiction. The question is not if, but when - and those of us getting familiar before mainstream adoption can bet on being ahead of the curve.

Photo: https://mma.prnewswire.com/media/1714556/Crypto_Games_Metaverse.jpg

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/metaverse-explained-the-ultimate-cheat-sheet-to-crypto-gaming-concepts-301449243.html

SOURCE Crypto Games

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GAMING00
East Side Games

The Office: Somehow We Manage Mobile Game Available Now

East Side Games Group (TSX: EAGR) (OTC: EAGRF) (" ESGG " or the " Company "), Canada's leading free-to-play mobile game group, in collaboration with Universal Games and Digital Platforms, announced today the worldwide launch of The Office: Somehow We Manage on iOS and Android. The free-to-play idle game is inspired by NBC's critically acclaimed, Emmy® Award-winning U.S. version of The Office which is now streaming exclusively on Peacock.

Watch the launch trailer here .

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Fashion League Partners with Concept Art House to Create First Web3, Female-Centric Gaming Experience Caters to Gen Y, Z Gaming, Metaverse Adopter Demographic

Animoca Brands, Riot Games, YGG, Unity Make Up Advisory Board

Fashion League the first free web3 play-and-own game designed to create a mobile fashion empire, today announced that they are partnering with Concept Art House (CAH), a leading publisher for some of the world's most recognizable NFTs and video game art, to create animation, characters and NFTs for a new era in fashion-and-own gaming that is launching in beta end of this year and going live in Q1 2023.

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DARK TAVERNS' EXPANSIVE WORLD OPENS TODAY WITH 0.05 ETH TAVERN SALE - UNIQUE & HIGHLY CUSTOMIZABLE DIMENSIONAL SPACES EXPEL EVIL WITH MAGIC

Tavern owners to play critical role in free-to-play, turn-based MMORPG from premier team that created titles such as Assassin's Creed Valhalla, Assassin's Creed Origins, For Honor, Lineage 2, Skull and Bones, Far Cry 6, and The Witcher 3.

- Always Imagine, LLC and Radical Labs today announced the sale of deeds for magic taverns in the forthcoming massively multiplayer online role-playing game (MMORPG) Dark Taverns . A twenty-four-hour pre-mint begins today at 1:00pm ET and will open to the public at the same time tomorrow. Tavern owners will secure a fifty percent discount on all future downloadable content and will be granted a Cast Key unlocking three free items such as wings, mounts and weapons. Sales are limited to ten per wallet. The game is free to play and win, and cannot be won by purchasing items.

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X1 Esports Closes Acquisition of Assets of Rocket League Community, ShiftRLE

X1 Esports Closes Acquisition of Assets of Rocket League Community, ShiftRLE

  • The transaction is anticipated to strengthen X1's position in video game media, adding Shift's 30,000+ social media followers at twitter.com/ShiftRLE
  • Rocket League globally averages over 80M players per month 1
  • The acquisition is X1's second closed post IPO acquisition after the announcement of the closing of the Tyrus LLC acquisition on August 5 th 2022.

X1 Esports and Entertainment Ltd. (CSE:XONE) ("X1" or the "Company"), a video games and media portfolio company which owns and operates a growing Esports franchise and a leading creator economy business is pleased to announce, further to its news release dated July 25, 2022, it has closed its previously announced acquisition of the assets comprising of ShiftRLE ("Shift"), an online news outlet focused on the popular video game, Rocket League.

In connection with the acquisition of the assets comprising of the business of Shift, the Company has entered into consulting agreements with four vendors, who as key personnel will be responsible for the continued operation of Shift, and distributed to such persons 333,333 common shares in the capital of X1 with a deemed issue price of CAD$0.45 per common share (the "Consideration Shares"). In addition to the Consideration Shares, the Company is paying a cash purchase price to the vendors of US$50,000 cash, of which US$25,000 was paid in connection with the closing of the acquisition and US$25,000 payable within 45 days after the closing date. The vendors will also be eligible to receive earn-out payments for 36 months from the closing date as payment of a 7% share of gross revenues Shift earns to a maximum of US$250,000 (the "Earnout"). The Earnout may be paid in cash or common shares at the election of the Company, at a deemed price equal to the fourteen day trading price prior to the payment date or such other price as may be required by the policies of the Exchange .

The Consideration Shares will be subject to subject to a CSE imposed hold period of four months from the date of issuance, and a contractual resale restriction that will result in 25% of the Consideration Shares being released six (6) months following the closing date, and 25% being released at six (6) month intervals thereafter. For further information related to the acquisition terms, please the Company's news release dated July 25, 2022.

" We are thrilled to have closed on the Shift acquisition," said Mark Elfenbein, CEO of X1. " Not only has the Shift community grown considerably over the past year, but we believe that Rocket League has tremendous global appeal with fans looking for the content that Shift can offer."

Information Related to ShiftRLE

Las Vegas-based ShiftRLE, led by co-founders Achilleas Fotiou and Jalen Jones, has demonstrated consistent user audience growth since launching in 2020. Shift currently reaches over 8 million impressions during the seasonal period of RLCS, while seeing growth of 14 million impressions during transfer periods where the roster news cycle is most active. With operations in America and Europe, the organization has established an international presence in the Esports industry.

" As Rocket League continues its climb to becoming a household name in the esports and gaming worlds, our team at Shift will remain committed to being a part of it in multiple facets. X1's investment should not only reflect their belief in us, but the potential that Rocket League has as a whole. We're extremely excited to continue building Shift and to fully realize our aspirations of becoming that multimedia company that will stick around for years to come".

Rocket League is one of the world's leading esports 2 . With 5-minute games that feature non-stop action, the car-soccer hybrid game has seen significant growth with players across demographics since its launch, now seeing global averages of 80M players per month, according to Active Player 3 .

Shift is an independent news source for Rocket League fans. It first rose to prominence by getting exclusive, behind-the-scenes information on Rocket League roster moves and tryouts before they were public knowledge. Shift plays a key role in ensuring the conversation around Rocket League esports continues beyond the pitch through coverage and insight regarding roster transactions and general esport news, ensuring fans stay engaged even during slower competitive periods.

About X1

X1 Esports and Entertainment is a video game and media portfolio company which owns and operates a growing esports franchise, RixGG. The business of the Company is the competitive playing of video games by teams for cash prizes, and operations ancillary to such competition, such as merchandising and the hosting of tournaments.

For more information, please contact:

Mark Elfenbein

CEO and Director

info@X1Esports.com
www.X1Esports.com

FORWARD LOOKING STATEMENTS:

Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking information in this news release includes the the ability of ShiftRLE to integrate into the X1 portfolio as anticipated or at all, the growth of ShiftRLE and the establishment of ShiftRLE as a multimedia company with longevity in the space, and the achievement of any revenue by ShiftRLE. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations, as well as a failure to achieve the growth anticipated, together with or apart from Shift,, changing market and industry conditions, the ability of each of X1 and ShiftRLE to implement their respective business strategies, including expansion plans,, the continued relevance of ShiftRLE's media capabilities, competitive conditions, adverse industry events, availability of capital and financing as needed, and the continued relevance of Rocket League. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.

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LG ULTRAGEAR NAMED THE OFFICIAL GAMING MONITOR OF RAPTORS UPRISING GAMING CLUB

Toronto's NBA 2K team plays with innovative gaming tech on the virtual court

Today, LG Electronics Canada (LG) is proud to announce that the LG UltraGear™ monitor (27GP950-B) has been named the official monitor for Raptors Uprising Gaming Club, the NBA 2K League affiliate of the Toronto Raptors. The announcement further extends the longstanding partnership between LG and Maple Leaf Sports and Entertainment (MLSE) within the esports domain.

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TOHO INTERNATIONAL, INC. AND STERN PINBALL ANNOUNCE: THE GODZILLA STERN HEADS-UP PINBALL INVITATIONAL

Watch Competitors Navigate Chaos and Destruction Through the Eyes of Godzilla! Only the King of Monsters Will Win!

Stern Pinball, Inc ., Everyone's favorite monster, Godzilla has been demolishing cities for over sixty-eight years. On August 10 tune in to watch eight players destroy each other in an action-packed, single-elimination bracket all in hopes of bringing home a brand-new Godzilla pinball machine!

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Americas Cardroom Continues $25 Million OSS Cub3d with Online Super Series

- After catering to low stakes players for the last week, US-facing online poker site Americas Cardroom is continuing its $25 Million OSS Cub3d with the Online Super Series . The flagship series runs from today through August 21st .

The Online Super Series (OSS) runs from August 8 th to 21 st . This series appeals to all player types from beginner to pro, with small, medium and large buy-ins. The OSS Cub3d then concludes with the high roller focused Bigger Online Super Series (BOSS) from August 22 nd to 29 th .

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