#45 - November 2024 Development update
Welcome to the 19th official newsletter from Beam.
Welcome to the official newsletter from Beam.
In our previous newsletter, we shared a new treasury report, looked back at our event at Gamescom, and introduced new articles along with a range of new games built on Beam. Since then, a pivotal new proposal has been accepted, the $MC to $BEAM migration has concluded, and we have another treasury report to share.
Read on for a summary of what’s been happening and what’s to come…
The end of an era
Sometimes it still feels like just yesterday that Merit Circle was introduced to the world. Within a matter of weeks of its launch, Merit Circle landed amidst some of the greatest names out there, and established itself as a market leader in the web3 gaming space over the course of the following years. In 2023, Merit Circle hit a pivotal moment with the introduction of Beam. Today marks the moment we start to embrace this turning point, and say farewell to the name that started it all.
https://x.com/MeritCircle_IO/status/1838946193327398946
This also comes with a new governance environment:
A new Treasury report for Q3, 2024
During the past quarter, the Treasury decreased from $235,350,991 as of June 30th 2024 to $228,461,294 as of September 30th 2024. This represents a decrease of 2.93% compared to the previous quarter.
Read the full report here
An end to the $MC to $BEAM token migration
The $MC to $BEAM token migration officially concluded on October 26, 2024. For 365 days, all token holders had the opportunity to migrate their $MC tokens to $BEAM and join us on this next step forward. Here are some post-migration statistics you may find interesting:
Total beam migrated: 61,592,397,482
Percentage of $MC migrated: 97,8%
Unique wallets to migrate: 6,797
Max possible $BEAM supply: 62,339,506,391
$BEAM current supply: 61,148,853,857
$MC current supply: 11,906,525 MC
This means that effectively, there will be 11,906,525 $MC or 1,190,652,500 $BEAM (1.8%) taken out of circulation bringing the max $BEAM supply to 62,339,506,391.
New games building on Beam
We’re thrilled to continuously have a large influx of exciting games joining the Beam network. Following names such as TrialXtreme, Forgotten Playland, Castle of Blackwater, Edenhorde and many others we have recently added a variety of new games.
The future of online experiences is here, meet Sophon
There comes a time when the world demands something new—a shift in how we connect, create, and thrive online. Sophon was created to answer that call.
After months of anticipation, Sophon has released a series of announcements and blog posts detailing what the network entails. Below is an overview of the recent announcements
AI in gaming – A twofold of articles
With AI the hottest topic in tech right now, we’re taking a two-part dive into its application to gaming. Part I looked at the history of AI in gaming and the current state of play.
Flayer launches its token $FLAY and beta of its first product Flaunch
We’re thrilled to announce that Flayer, one of our studio projects, has officially launched the $FLAY token, marking the first step in rolling out their full product suite. In anticipation of the Univ4 launch, Flayer has also introduced Flaunch, a platform for launching memes. All eyes are on Uniswap’s latest update, as Flayer is set to go full speed ahead once it’s released.
Edenhorde launches its new narrative arc and its card-game Eclipse of Edenhorde
Throughout October, leading up to this past week, Edenhorde released nine chapters of their second narrative arc. Through an exciting adventure, we explore the world of Edenhorde, culminating in an epic battle. With the fifth episode, Eclipse of Edenhorde, the card game has officially launched.
To celebrate this launch, we’re hosting a tournament this Sunday. You can sign up here.
Together, we grow
Realizing this is the last newsletter of the year makes us reflect on everything that has happened. It’s been a lot, but we’re also very aware of the two months still ahead. Much preparation has gone into what will soon be announced, all of it previously behind the scenes. It’s about time to lift the curtain.
Again, thanks everyone for your support.
Together, we’re changing the game!
Our next newsletter will be sent early January 2025.