Blockchain

Competing for adoption with Crypto, Utility Tokens and NFT

Competing for adoption with Crypto, Utility Tokens and NFT

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

As the popularity of blockchain technology has grown, industry attention has shifted from “if it will be used” to “how it will be used”. And blockchain developers are finding that not all options for applying the technology are equal. As the push for mainstream adoption continues, networks, ecosystems, and platforms built on and around blockchain continue to discover innovative ways to differentiate themselves and engage users.

Using Blockchain to Streamline Game Development

In the gaming world, blockchain is beginning to be seen as the technology that will usher in a new era. By enabling the acquisition and exchange of digital assets in gaming environments as NFTs, blockchain brings a new type of utility that allows the pay-to-play model to be disrupted by a game-to-play model. to earn.

MINE system is a comprehensive ecosystem built on the Binance Smart Chain that makes blockchain accessible to gamers, content creators, and game developers.

“Game developers shouldn’t need to be blockchain developers to reap the benefits of blockchain,” says Lucas Hamrick, CEO of ORE System. “They should be able to focus on what they love, which is making games.”

By providing an integrated NFT marketplace, token, and SDK, ORE System streamlines the process of developing games, creating tradable assets, and incentivizing play. And because the assets are NFTs, they have a value for gamers that goes beyond any specific gaming environment.

“Relying on blockchain enables gaming systems where developers can determine the value of digital assets, but players can decide for themselves if they feel the value is appropriate,” says Nick Donarski, Founder and Expert key technique of ORE System. “It shows the true beauty of decentralized gaming.”

oasis is a gaming-focused blockchain that was designed to address the sustainability issues that have plagued its technology. By leveraging proof-of-stake, which requires less energy than more common proof-of-work methods to verify blockchain transactions, Oasys believes it offers game developers a better alternative that can help speed up the process. adoption of play-to-earn platforms.

Gabby Dizon, who is one of the founders of Oasys, highlights the many choices game developers face and the benefits blockchain can bring.

“Developers have an increasing number of blockchains to choose from as well as trade-offs to consider,” Dizon says. “Each blockchain solves different challenges and optimizes certain features. Oasys is focused on reducing environmental impact and improving gaming experience through scalability.

Using the blockchain to create a community

The popularity of NFT art has exploded in 2021, conduct $22 billion in sales. While the rapid rise in popularity has brought millions to many artists, it has also flooded the market with competition, meaning artists and the platforms they sell their art on are both looking for ways to stand out.

Some artists, like Alvin Juano, added value to their NFTs by adding utility. Alvin garnered over 600,000 followers with The Square Comics on Instagram before entering the NFT realm with the creation of the Squarmies collection.

“If you’re an artist looking to make the leap to NFT, holding a Squarmy allows you to submit your projects for a community vote. If there is a high demand from the community, we will help you build your NFT. Others may also come up with initiatives to grow the brand,” says Alvin. “Ultimately, holders can also stake their Squarmies to get tokens that will unlock more opportunities, other NFT projects, and exclusive perks.”

Alvin limited the creation of Squarmies, which are on the Ethereum blockchain, to 3,535. All sold.

For some artists, finding a secure platform to sell their NFTs has been the main challenge as the boom in the NFT market has also led to a boom in NFT art fraud which some are call ” breathtaking “. To address these concerns, some blockchain companies are leveraging their expertise to help provide secure NFT vending services.

NFT technology provider double jump.tokyo announced in January 2022 that its NFTPLUS solution was being used by Tezuka Productions to support the sale of its “Astro Boy” NFT, which sold at auction for 120 ETH, or approximately $480,000.

“The successful sale and auction of collectible art NFTs demonstrates that double jump.tokyo’s technology and tools are the solution to seamlessly facilitate NFT transactions, from issuance to sale and management continues thereafter,” said Hironobu Ueno, CEO of double jump.tokyo.

BlockPack was launched to help provide NFT support solutions in another community: the world of college sports. In June 2021, changes made by the NCAA suddenly allowed college athletes to benefit from their name, image and likeness (NIL), which had been prohibited by the rules in the past. These new NIL provisions mean that college athletes can start making plans to enter the NFT market. BlockPack brings together a unique understanding of NFTs and college athletics to support this development.

“We are still in the very early days of NFTs and blockchain and early adopters of crypto learned that creating NFTs is easy and selling NFTs is doable if you know the right people and how to do it, but it is very difficult to create strong communities,” explains Richard Oh, founder and CEO of BlockPack. “Our mission is to bring the full power of NFT, the most disruptive community engagement technology, to college sports, the most dominant form of real-world, large-scale community engagement in the United States.”

Using blockchain to drive financial inclusiveness

Cryptocurrency brought blockchain into the public arena and remains one of the most well-known and widely used examples of the technology. However, as the crypto’s popularity continues to grow, its volatility continues to challenge mainstream adoption. To encourage wider adoption, some crypto projects provide users with easier on-ramps and more targeted profits.

Risk-free crypto seems like something that’s either too good to be true or a scam, but that’s exactly what some platforms offer by giving users crypto cashback for their normal online activity. Rewards Bunny is one platform that takes this approach, offering crypto cashback to buyers.

“Crypto cashbacks represent the missing link between cryptocurrencies and e-commerce,” says Jacky Goh, CEO of rewards bunny. “Platforms like Rewards Bunny are democratizing cashback, using blockchain technology to bring innovative incentives into the retail experience.”

Rewards Bunny’s latest innovation allows users to install extensions in Chrome or Safari that alert shoppers when they’re on a site that offers Rewards Bunny rewards.

Another method used by crypto platforms to attract users and retain them is the in-app philanthropic product. When crypto profits, so do the charitable causes that the coin supports and which are sometimes selected by coin holders. Such coins bring utility to the crypto world that promises to change the world.

“As I developed a deeper understanding of the unifying power of cryptocurrency and decentralized finance, it became clear to me that it could be used to have profound social impact not only by democratizing the finance, but also by giving back substantially to the community,” says Adam Calrton, CEO and Founder of Pink Panda Holdings, Inc.., a cryptocurrency company that has made charity an integral part of its DNA.

Using blockchain to disrupt and transform

Barely ten years ago, few people knew what blockchain technology was. Far fewer suspected the disruptive force it would soon become across a wide range of markets. Today, anyone familiar with blockchain recognizes that it has the potential to transform day-to-day operations in many industries. For a growing number of organizations, this is already the case.