FinancialNewsMedia.com: Global Play-To-Earn NFT Games Market Size Expected to Reach $8.85 Billion In 2028

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FinancialNewsMedia.com: Global Play-To-Earn NFT Games Market Size Expected to Reach $8.85 Billion In 2028
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FinancialNewsMedia.com News Commentary PALM BEACH, Fla., Sept. 12, 2023 /PRNewswire/ -- Play-to-earn NFT game is a new type of game that allows players to experience the combination of

PALM BEACH, Fla., Sept. 12, 2023 /PRNewswire/ -- Play-to-earn NFT game is a new type of game that allows players to experience the combination of gaming and blockchain. In NFT games, NFTs can be in-game currency, characters, maps, or any other game item. NFTs in NFT games have value in the market, and players can make money by selling these NFTs. Video games have changed the way a generation is entertained.

"The NFT Gaming Company is extremely pleased to begin commercialization with our first game as we continue to develop an exciting catalogue of casual games that bridge the gap between traditional gaming and Web 3.0," said Vadim Mats, CEO of NFT Gaming Company."This is the first major milestone for NFTG and the Gaxos vision. Going forward, we anticipate releasing additional games and revenue producing applications in the near future.

Electronic Arts Inc. celebrated the 2023 NFL Season kickoff by inviting football fans everywhere to play EA SPORTS Madden NFL 24 via a global trial, during a Free Play Weekend, September 7 through September 10 on Xbox One, Xbox Series X|S, PlayStation®4 and PlayStation®5. Players on Xbox Series X|S and PS5 platforms experienced the new levels of control and realism delivered through elevated gameplay along with the fun of mini-games and depth of Superstar Mode, Franchise Mode and more.

Second Quarter 2023 Financial and Operational Highlights Were: Revenue was $680.8 million, up 15% year-over-year, and up 17% year-over-year on a constant currency basis; Bookings were $780.7 million, up 22% year-over-year, and also up 22% year-over-year on a constant currency basis1; Net loss attributable to common stockholders was $282.8 million; Net cash provided by operating activities was $28.4 million; Average Daily Active Users were 65.

"For the 2023 second quarter, net sales and adjusted EBITDA loss were within our guidance, and SG&A expenses were better than expected and an improvement over the preceding quarter," said Michael Lunsford, recently appointed Interim Chief Executive Officer of Funko."Ongoing inventory de-stocking by some of our larger U.S. wholesale customers impacted our topline and profitability.

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