Blockchain tech bring triple games to Metaverses

Blockchain tech bring triple games to Metaverses

News Technology
November 7, 2021 by Delnia
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Nonfungible token-based ventures such as Loot and The N Project have contributed to rekindling interest in the Metaverse, rekindling expectations that Blockchain would eventually reach the public. But, will it succeed, or will history repeat itself? The difficulty is that the exact things that pique the public's interest are also the specific things that impair the underlying platforms' performance and increase entry barriers higher than before. In this piece, we'll look at the fundamental difficulties that have resulted in this dynamic to resolve them.
Blockchain tech bring triple games to Metaverses

Transacting on a fee-based Blockchain would be prohibitively expensive for users and producers of triple games.

The primary issue is that traditional Blockchain technology — notably Ethereum — creates significant entry hurdles, limiting the Metaverse’s capacity to enroll new users. These problems are worsened by the network’s refusal to allow consumers to set fixed pricing for their consumption.

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Apes and penguins are pricey

Fees for using popular NFT markets may be a sneaky problem since projects frequently impose these prices on users with excessive expectations of their profit-making potential. A short glance with Etherscan reveals the absurdly high value of transaction fees paid for each project. For example, Bored Ape Yacht Club and Pudgy Penguins users spent 106.7 and 111.4 Ether (ETH) to engage with their smart contracts, respectively. In transaction fees alone, consumers of these two projects have had to spend approximately $1 million!

Axie Infinity, truly NFT-based triple games?

But here’s the catch: those projects aren’t NFT-based triple games at all! Because NFTs were introduced in Axie Infinity, players may combat and produce little creatures that can subsequently be sold or leased to other players. Also, what makes Axie Infinity such a superb example of an actual NFT-based game. The issue is that when more NFTs and the advantages of a Blockchain-based asset utilized in a match, customers must pay higher ETH fees.

The Ethereum network charges transaction fees for both the trade and breeding parts of these games. Axie Infinity has paid out approximately $60 million in transaction fees, totaling over 15,000 ETH! That’s money that Axie Infinity and other NFT-based game producers could have used to enhance their product. Still, it’s also money that customers could have used to buy more digital assets from Axie Infinity and other NFT-based game developers like Ideaology.io

The catch-22 for new users and publishers

Many new users who have been drawn in by the NFT craze immediately head to an online marketplace like OpenSea to offer their own NFT. This would be an excellent chance to recruit another Blockchain supporter by providing an ideal user experience in a perfect world. Unfortunately, the transaction cost for merely placing an item for sale on OpenSea is now roughly 0.1 ETH ($400). That is hardly the type of user experience that leads consumers to believe they are utilizing cutting-edge technology!

These high costs not only impact novice users trying to figure out what all the fuss is about with Blockchain, but they also discourage larger businesses from developing on top of Blockchain platforms. Why would major video game producers include NFT interoperability in their titles if end users would have to spend upwards of $100 to exchange NFT-based game weapon skins? Consumers are unlikely to be enthusiastic about triple games NFT assets that are more expensive to trade than the main game.

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Even if a considerable video game publisher wished to cover these Blockchain transaction costs for their player base, the fees would be prohibitively expensive and rise in lockstep with the game’s lifespan. In effect, as the replay value of their game increases, they will punish this game publisher! Given these flaws in the current transaction price of Blockchains, it’s no wonder that video game creators and publishers have been slow to embrace Blockchain for the digitization of NFT-based game assets.

Fee-less Blockchains triple games

Current NFT-based triple games on legacy Blockchains have significant flaws. It’s primarily due to their transaction pricing model, making it difficult for new users to embrace NFT assets and discouraging video game producers from using them in their games. Unfortunately, it will not use Blockchain to track ownership of in-game purchases by triple-A video game titles anytime soon. Consumers and publishers would be unable to afford the costs of transacting on a fee-based Blockchain.

There is, however, a reason to be optimistic. It is feasible to remove costs from a Blockchain’s user experience. Since its debut in 2016, the Steem Blockchain (notably split into Hive Blockchain to foil Justin Sun’s aggressive takeover) has operated on a fee-free paradigm. Splinterlands, one of the most popular Blockchain-based games, has taken advantage of Steem’s and Hive’s fee-free properties to great benefit.

The heart of the solution included inside such Blockchains is the inclusion of a token derivative or “property” that is used to “pay” for transaction fees, rather than Ethereum’s gas, and that may be “delegated” from one user (such as a developer) to another user (like a player).

A token derivation to cover transaction fees allows game developers to set a fixed charge for their network usage over time.

Consider what would have happened if Axie Infinity developed on top of a fee-free Blockchain that used a token derivative instead of requiring users to spend their whole amount. If this had been the case, the triple games developers might have purchased a fixed amount of local money equal to the amount of network bandwidth they’d require and then delegated network resources to new users.

Fueling the growth of triple games

For starters, it would have allowed new users to exchange Axies and engage with NFT-based game smart contracts for no transaction costs after receiving the delegated resources. As a result, the game’s player base would naturally develop as gamers would no longer be discouraged by the game’s cost. It would decrease the entrance barrier, bringing in more new players and increasing demand for triple games assets.

The existing fee-based transaction structure puts widespread adoption at risk. We at Koinos Group are working on a system that will allow significant enterprises to correctly price the expenses of adopting this cutting-edge technology. In addition to establishing the first consumer-friendly Blockchain.

Sum-up about Blockchain and triple games

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References:
https://cointelegraph.com/news/how-Blockchain-technology…

https://markets.businessinsider.com/news/currencies/how-blockchain…
https://news.coincu.com/31583-how-blockchain-bring…
https://blockchaintimes.news/2021/11/07/how-blockchain…

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