[FOCUS] The game developer predicts a paradigm shift with the introduction of blockchain in gaming
SEOUL — WeMade, an online game developer who created “The Legend of Mir,” a massively multiplayer online fantasy role-playing game based on an ancient oriental world, predicts a paradigm shift in the gaming industry with the introduction of blockchain, a decentralized service that shares replicated and synchronized data distributed geographically across multiple servers operated by countries or organizations.
“The Legend of Mir” uses WeMix, a global blockchain gaming platform, to promote blockchain-based play-to-earn (P2E) games. WeMade’s blockchain-based P2E game, MIR4, is now available in 170 countries, not South Korea due to regulations. Through cooperation with game developers, WeMade aims to introduce 100 blockchain games that use WeMix tokens as key currency by the end of 2022.
“Blockchain games are the beginning of well-made games, and when blockchain is attached, gaming becomes more fun,” WeMade CEO Henry Chang said during an online press conference on Feb. 16. “The paradigm shift is underway. It is a time of upheaval in which doubts and beliefs argue over the right and wrong direction,” he said, urging game developers to forget an idea. preconception that blockchain games aren’t that interesting.
Chang presented an ecosystem, in which the inter-game virtuous cycle economy works with a non-fungible token (NFT) based on a blockchain network, saying that games are at the heart of the metaverse. “Games are at the core of the Metaverse,” he said, adding that games are closest to existing Metaverse platforms, though the Metaverse world is certainly expanding its range by absorbing virtual reality.
NFT can represent a single digital file such as art, audio, video, and video game item. It is authenticated using a blockchain platform and provides proof of ownership. In January 2022, WeMade partnered with RedFox Games, a US-based software company that provides game publishing service, to promote blockchain-based games, followed by a deal to invest in Syltare , a P2E collectible card game that uses NFT cards,
P2E games are early-stage metaverse platforms that add innovative business models for gamers to earn a stable income by playing. P2E games are typically blockchain-powered, offering rewards and incentives to users based on their activity on the platform or associated in-game achievements. As users earn cryptocurrency based from their gambling activities, they can exchange them for assets on exchanges.
In fact, Wemade’s blockchain games aim to “play and win (P&R)” so that items or goods can be exchanged between users or third parties as NFTs, Chang said, expressing his willingness to integrate NFT and blockchain. in social casino games. “I think social casinos will be a very important focus. If social casinos and cryptocurrencies are combined, the way social casinos work will also change.”
“We are looking at ways to apply business models to social casinos and how to link game pieces,” Chang said. In December 2021, the game developer acquired SundayToz, a social and mobile game developer known for creating the Anipang series, to strengthen the range of casual games on the blockchain platform and expand the social casino genre. .
Krafton, the developer of popular online games such as “PlayerUnknown’s Battlegrounds”, has followed suit and partnered with Naver Z, the operator of popular South Korean metaverse platform ZEPETO, to promote new businesses at the era of Web 3.0, a new iteration of the blockchain-based World Wide Web that incorporates concepts such as decentralization and the token-based economy.
Technologists have described Web 3.0 as a possible solution to concerns about excessive web centralization in a few large tech companies. Web3 could improve data security, scalability, and privacy beyond what is currently possible with Web 2.0 platforms that focus on user-created content uploaded to social media and social media services. networking, blogs and wikis, among other services.
Krafton partnered with Naver Z on February 9 to promote, develop and operate new Web 3.0 businesses such as metaverse, blockchain-based games and NFTs as long-term strategic partners. Krafton aims to implement a high-quality, open, user-generated metaverse platform and enable a scalable Web 3.0 creator ecosystem via NFT.
Krafton’s move came a day after the game publishing wing of South Korean web services giant Kakao disclosed a new strategy to push metaverse and NFT companies covering decentralized exchanges and decentralized finance (DeFi) , which enter into smart contracts on blockchains without relying on central financial intermediaries.
DeFi platforms allow people to lend or borrow funds from others, speculate on price movements across a range of assets using derivatives, trade cryptocurrencies, trade insure against risk and earn interest on savings-type accounts. Transactions occur directly between participants, mediated by smart contract programs using open source software that can be easily copied to set up competing platforms.
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