The Alpha:

• NFT tickets for the Web3 game called Internet Game minted today in anticipation of its aptly-titled second-phase Bear Market Battle. The sale will only last 24 hours, but will maintain an unlimited supply throughout the sale period.
• Via minting an NFT ticket, you can play to win ownership of several high-end NFT projects. As of writing, the floor price for each ticket is 0.07 ETH, or a little more than $100.
• The first announced prize? Bored Ape #4317 — currently valued at a cool 88.9 ETH.

Why it matters:

Internet Game, co-founded by Jordan Lejuwaan and venture partner Krish Jagidar, just hit its second stride. The noted NFT figure gmoney is set to host the Bear Market Battle, joined by actress and comedian Leah Lamarr. Obviously, securing high-end NFTs to be distributed as prizes would require significant funding. Thankfully, Internet Game’s got it in spades. Following a $7-million seed round, the project could soar to new heights in staunch defiance of the ongoing bear market. In addition to these funds, Internet Game’s first season also accrued more than $2 million in revenue, per its publicly available case study.

Internet Game also promises functional utility for holders of its NFT tickets. Although the public sale for these NFT tickets will only run for 24 hours, users will have plenty of opportunities to buy more once the games kick off on September 12. As with the first season, users can opt to keep playing or “cash out” at any moment during the Bear Market Battle’s five-day run by selling their tickets. Each user’s progress — and winnings — get saved to their tickets, enabling new owners to pick up where the previous owner left off.

What’s next:

Notably, one key investor in Internet Game is Rus Yusupov, founder of HQ Trivia. For the uninitiated, HQ Trivia is a free-to-play trivia game that comes with a very alluring promise. By playing the game, HQ Trivia offered its users the potential to win hundreds of thousands of dollars in cash prizes. Unfortunately, the game had one flaw: bad actors attempting to game the system. This led to several users receiving their winnings months after the fact.

With Internet Game’s reliance on the blockchain, it successfully waved off one of its spiritual predecessor’s most significant flaws. Although it might not be a simple free-to-play app like HQ Trivia, requiring its users to buy an NFT ticket upfront greatly ensures a secure and fair experience for all.

But wait! There’s more:

• NFT Tickets Are the Future of Live Music. Here’s Why
• A Crypto Journalist is Using NFTs as Tickets to a Digital Book Club
• NFT Game Developers: Play-to-Earn and ‘Play and Earn’ Are Not the Same
• A Global Guide to the Most Important NFT Events of 2022

Editor’s note: Two members of the nft now editorial team previously worked with Internet Game co-founder Jordan Lejuwaan at Futurism, but were not involved in the publication of this piece.

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