Web3 gaming | Business Upturn

Transak and SKALE forge partnership to revolutionize Web3 Gaming

Tushar Aggarwal — Thu, 29 Feb 2024 16:32:26 +0000

Transak and SKALE have announced a strategic partnership aimed at transforming the Web3 gaming landscape. This partnership aims to tackle two major obstacles to blockchain adoption: unpredictable gas fees and the complexities of entering the world of digital assets seamlessly.

Transak, a leading Web3 payment solution for onboarding infrastructure, brings new possibilities to SKALE, the leading Appchain scaling network offering zero gas fees. This collaboration offers a comprehensive solution: while SKALE ensures affordability and usability with its cutting-edge technology, Transak simplifies the user journey, enabling easy and efficient entry pathways.

This partnership is poised to remove hurdles that have long hindered the mass adoption of blockchain technology, particularly in the Web3 gaming sector.

Transak + SKALE Integration: A Global Impact
A report by Dappradar highlighted that nearly $3 billion was invested in Web3 gaming projects in 2023, yet this figure was more than 60% lower than the previous year. This indicates significant interest in blockchain-based games, but easy accessibility for mainstream and casual gamers remains a challenge.

The partnership between Transak and SKALE aims to open the doors of Web3 gaming to over 180 countries in a practical and affordable manner for most users.

With the integration of Transak, SKALE is launching fiat-to-crypto deposits in more than 180 countries, including emerging Asian markets. This allows users to easily purchase blockchain-based assets and use them across 20 SKALE Appchains.

This integration not only simplifies transactions but also enhances user experiences by embedding Transak’s services directly into SKALE dApps, providing developers with a powerful tool to enhance engagement.

“Our partnership with SKALE represents a significant advancement in Web3 gaming and blockchain accessibility. By combining SKALE’s zero gas fee architecture with Transak’s streamlined onboarding infrastructure, we’re eliminating key barriers to blockchain adoption and opening new avenues for gamers worldwide,” said Yeshu Agarwal, CTO of Transak.

Impact on Web3 Gaming and Beyond
SKALE has been a frontrunner in the Web3 gaming space, recognized as the most active gaming chain in 2023 by CoinGecko and boasting the world’s fastest blockchain accolade from Dartmouth.

By eliminating over $4 billion in gas fees and supporting 20 million Unique Active Wallets (UAWs), SKALE has established a robust foundation for growth.

With Transak’s integration, gamers and developers alike can anticipate a more fluid and cost-effective gaming experience, further driving user engagement and platform growth.

To support the Web3 gaming industry and its users, Transak is supporting NFT purchases for as low as $0.01. This opens up the viability of micro-transactions, which is essential for fast-paced AAA and MMORPG games to thrive in a decentralized environment.

SKALE’s rapid growth and market dominance in Web3 gaming is a testament to a superior user experience created by a modular architecture and zero gas fee economic model. Partnering with Transak strengthens this edge by improving access and reducing costs for users and gamers across the ecosystem. Incorporating Transak’s efficient on-and-off ramp services is a strategic move to drive further growth and empower developers in the SKALE Ecosystem. – Jack O’Holleran, CEO of SKALE Labs

Innovations and Success Stories
SKALE’s ecosystem is filled with innovation, hosting a variety of projects ranging from AAA-quality games to AI integrations. Key highlights include:

StrayShot – Integrates NFTs into gameplay, enabling players to mint weapons directly to their wallets.
ReHold – Uses SKALE’s infrastructure for cost-effective data storage and transparent transaction recording, saving users thousands in gas fees.
Exorde – An AI-based dApp that harnesses SKALE’s zero gas fee environment for efficient data scraping, saving millions in potential costs.
With the integration of Transak’s services into SKALE dApps, gamers can quickly onboard onto trending games, addressing a major challenge in the Web3 gaming landscape.

This ease of transaction is not just a convenience; it’s a game-changer, enabling gamers to fully engage with and benefit from their participation in the SKALE ecosystem.

As SKALE and Transak forge ahead, their collaboration is set to unleash a new wave of innovation and accessibility in the blockchain space. By focusing on user-friendly solutions and technologies, they are addressing the current needs of the blockchain community and shaping the future of Web3 gaming and blockchain utilization.

The blockchain gaming revolution: Beyond play-to-earn, towards data-to-earn

Eesha Chakraborty — Fri, 23 Feb 2024 17:24:08 +0000

The world of blockchain gaming is on the cusp of a significant transformation. While the past year saw the market experience turbulence, there’s a growing presence of established studios and high-quality games entering the fray, bringing much-needed maturity to this nascent sector. This concept resonates strongly with both gamers and the gaming industry. For developers, data-to-earn presents solutions to crucial challenges.

In this next wave of web3, gamers and games alike are placing significant emphasis on digital ownership. Players yearn to own their in-game identities and accomplishments, while developers seek better ways to connect with their audiences and understand their engaged players. This is where data-to-earn emerges, a concept that transcends play-to-earn by offering passive income opportunities for players who choose to share their data with brands. This represents a significant departure in how online identities can be monetized, and it’s worth exploring further.

Play-to-earn has been the dominant earning method in blockchain gaming until now. Players engage in activities like winning battles or progressing through levels, earning potentially valuable in-game assets and cryptocurrencies. This model gained traction after the COVID-19 pandemic, particularly in developing countries like the Philippines where individuals embraced it as a means of generating additional income. However, this segment is not without its flaws. Unbalanced or poorly designed in-game economies can lead to inflation, and as the name suggests, play-to-earn necessitates active engagement – no play, no earnings. This reliance on constant play can be unsustainable and detracts from what games are meant to be: fun and engaging experiences.

Data-to-earn offers a different approach. New web3 protocols and platforms enable users to link their gaming, social media, and various other accounts to the blockchain. This results in a twofold benefit. Firstly, users can consolidate their digital identities, showcasing their achievements, assets, and gaming history in a single, unified space. Secondly, they gain control over their data and can choose how it’s used. Opting in to share data with brands allows users to passively earn when these brands leverage their on-chain and off-chain data.

Users are no longer confined to siloed databases owned by corporations, leading to a fragmented user identity scattered across various platforms. Instead, data-to-earn empowers users to reclaim control of what’s theirs, allowing them to decide how to best aggregate and earn from their information.

Stringent regulations like Europe’s GDPR and California’s CPA, coupled with restrictive measures imposed by tech giants, make precise user targeting difficult, leading to revenue losses for ad networks. For instance, Unity experienced a $110 million revenue drop and a $5 billion market cap decline following the introduction of Apple’s IDFA.

By directly accessing user data with consent on the blockchain, the gaming ecosystem gains comprehensive and compliant information for better user targeting, attribution, and understanding – all in a trustless manner. Major web3 publishers and distributors are already facilitating this. Platforms like BNB Chain, Avalanche, and Ronin (the gaming blockchain from the creators of Axie Infinity and Pixels) are connecting studios with data toolkits that enhance their ability to identify potential users, retain existing players, and offer rewards for their data.

For years, gamers have seen their data misused and leaked. Data-to-earn not only restores privacy but also introduces new revenue opportunities. By sharing their preferences, ownership history, social connections, and past experiences directly with brands, users can earn passive income and enjoy personalized services. By authorizing and linking more accounts, and actively engaging with brand-user interactions, they can further boost their potential earnings.

As the world transitions from web2 to web3, consolidating on-chain identity and empowering users to control and monetize their data becomes increasingly important. This shift is particularly exciting for the gaming industry, where high-quality user data is crucial for informed decision-making and improved efficiency.

Play-to-earn will undoubtedly retain a significant role in blockchain gaming, and it will be interesting to see how gamers integrate both active and passive revenue models.

Dubai’s gaming start-up Exverse levels up with $3 million investment for blockchain gaming ambitions

Eesha Chakraborty — Sat, 17 Feb 2024 14:32:56 +0000

Dubai’s gaming scene is witnessing a revolution, and at the forefront stands Exverse, a pioneering startup that has secured a $3 million investment to propel its ambitious vision of bringing AAA-quality gaming experiences to the Web3 space. This significant funding round, led by Cogitent Ventures, Cointelligence, and Moonrock Capital, marks a major milestone for Exverse, attracting additional support from industry giants like KuCoin Labs, Seedify, and ChainGPT.

Exverse, founded in 2020 by Nikita Uriupin, has already garnered a loyal following, boasting over 65,000 registered users eager to dive into its unique blend of AAA-quality gameplay and Web3 functionalities. The platform leverages blockchain technology to foster a sense of ownership and community, allowing players to not only engage in thrilling first-person shooter action but also participate in social events, build user-generated worlds, and even earn rewards in the form of tokens. Top performers can even claim a share of the profits generated through in-game NFTs, further blurring the lines between player and stakeholder.

This latest funding round will serve as a springboard for Exverse’s ambitious plans. The company intends to utilize the capital to support the launch of its highly anticipated token, a crucial step in establishing its in-game economy. Additionally, the funds will be directed towards expanding marketing efforts, particularly within the Asia-Pacific region, a market brimming with potential for the platform’s unique offerings. Furthermore, Exverse plans to leverage the investment to bolster its test net, ensuring a smooth and seamless user experience upon launch.

Collaborations with industry heavyweights like KuCoin Labs, a prominent player in the Web3 scene, signify a powerful validation of Exverse’s approach. As players seek more ownership, control, and community-driven experiences, blockchain technology emerges as a powerful tool to unlock these possibilities.

Exverse, with its AAA-quality gameplay, tokenized rewards, and focus on community building, stands poised to become a frontrunner in this exciting new era of gaming.