Wemade Reveals Elements Essential for Blockchain Gaming at Game Developers Conference 2023
Wemade, a leading global developer of online and mobile games, revealed at GDC 2023, in San Francisco, March 20-24 (booth S527), the four essential elements to successfully transform traditional games into high-quality blockchain games through its WEMIX PLAY platform.
Global game and blockchain companies meeting with the Wemade team at the booth – themed “Life is Game: Blockchain Transformation” – had the opportunity to get acquainted first-hand with the platform’s “Four Module System” that implements Tokenomics, GameFi, Marketplace and Community to games, regardless of their genre or platform. As the world’s largest blockchain gaming platform servicing millions of gamers globally, WEMIX PLAY takes the guesswork out of the onboarding process, opening a new door into the future of gaming and allowing developers to focus only on creating good games.
Tokenomics – the key to refining the perfect tokenomics is to thoroughly understand and genuinely reflect upon the game’s design to create synergy between the in-game and the real-world economy. Creating the perfect tokenomics that will positively impact the gaming experience of gamers is a must as it represents the game’s potential for the global blockchain gaming community.
GameFi – allows gamers to invest their earnings through gameplay to engage in a secure and profitable economic activity. They can exchange trade, invest, stake and borrow tokens for a greater user experience.
Marketplace – blockchain games can utilise NFTs to allow gamers to transfer their in-game resources, items and even characters into assets tradable on the blockchain gaming ecosystem.
Community – this is the future of community building where every member will share a common goal, as Players, Developers, Investors and even Content Creators can come together under one common theme: game tokens. WEMIX PLAY is home to countless communities built around blockchain games and seeks to create a new landscape of the future society.
On March 21, Henry Chang, CEO of Wemade, gave a keynote speech on “The Future of Gaming: Inter-game Play and Beyond”, about how inter-game economy and inter-game play come together through blockchain technology and their impact on the future of games.
For the wider public, the company dedicated three sessions to WEMIX PLAY, covering lessons learned and successes from launching 25+ Web3 games in the past year, the process of using WEMIX PLAY and its benefits, and the know-how of servicing blockchain games. Attendees had the opportunity to discover how this transformation has the potential to revolutionise gamers’ experience, with a full account of each process involved in this transformation and its benefits.
Renowned influencer, actress and gamer Myrtle Sarrosa, the first creator to issue Fan Token MYRTLE on WEMIX PLAY, hosted a session on the new tokenomics system where both creators and fans can engage and grow together, breaking away from the linear fan-creator engagement experience into a dynamic economy driven by collective effort. Fans and creators work together in raising the value of the token while also expanding its use cases and utility through various events and campaigns.
IPO Bound Yudiz Solutions gets DRHP nod, set to invest approx. 80 Million INR to launch world class gaming studio and multi-gaming platform
IPO bound Yudiz Solutions Ltd, a blockchain, AI, and gaming focussed enterprise technology company has received an NSE approval for an SME IPO. With this approval, the company is set to invest approx 80 Million INR to set up a gaming studio and a multi-gaming platform. The game studio will aim to produce over 40 games in a year.
Yudiz Solutions, which is already known to develop apps, will now be the first game developers to be publicly listed and have its own publishing platform.
The new Yudiz game studio will focus on creating high-quality games for multiple platforms. These games will leverage Yudiz’s cutting edge technology solutions and in-house expertise to design and develop the games. They will also develop games for other publishers and will also allow other developers to publish games on their new publishing platform. This will be the only gaming company to develop and publish their own and others games as well.
Bharat Patel, Chairman & Director, says “The new business ventures will enable sectoral growth, provide us with the necessary resources to drive innovation, expand our game portfolio, elevate the gaming experience and develop gamer communities. It will also enable us to forge strategic partnerships, attract top talent, and cement our position as strong contenders in the space”
With an EBITDA of 21.77% for FY 22-23, and a CAGR of 42.34% for the past three years, Yudiz also has a PAT of INR 2.75 CR in FY 22-23. With the recently approved DRHP the company will offload a public issue consisting of a fresh 27,17,600 equity shares.
Headquartered in Ahmedabad and is recognized as a global IT services providing solutions in AI/ML, AR/VR, IoT, as well as Blockchain, mobile app and web development across North America, Europe and Asia region. Yudiz is set to disrupt the market with their innovative solutions and products. MPL, Zydus, RR Kabel, IRM Energy, SportsBuzz are some of their clients.
Blockchain Technology: A Game Changer for Online Gaming?
The world of online gaming is in a state of constant evolution, with emerging technologies playing a significant role in shaping the future of the industry. One such technology is blockchain. Known primarily as the backbone of cryptocurrencies like Bitcoin, blockchain’s potential extends far beyond digital currencies. Its potential in the realm of online gaming is particularly intriguing and stands to dramatically reshape the industry.
Understanding Blockchain and its Relevance to Online Gaming
Blockchain technology is a decentralized digital ledger that records transactions across multiple computers. This decentralization ensures the data’s security and transparency. For the online gaming sector, blockchain’s promise lies in its ability to offer a higher degree of fairness and transparency — a crucial aspect for games such as online slots, where players need to trust the system’s impartiality.
Instilling Trust and Enhancing Fairness
In traditional online gaming platforms, players used to place their trust in gaming operators, believing that the system was fair. The introduction of blockchain disrupted this model by allowing the game mechanics to be audited and verified by the players themselves. This level of transparency is possible because the blockchain is a public ledger, where all transactions and changes are recorded and accessible to anyone. Through this, the players can verify the fairness of in-game purchases, loot drops, and even the randomness of outcomes in games, directly reducing the potential for unjust practices. Moreover, the use of blockchain technology also provides enhanced security, reducing the risk of fraud and hacking that can be rampant in traditional online gaming platforms.
Cryptocurrencies and the New Gaming Economy
The integration of blockchain technology in online gaming extends beyond fairness, opening the possibility of using cryptocurrencies for transactions. Cryptocurrencies, with their swift, secure, and low-cost transactions, could revolutionize how players purchase in-game items or credits. Furthermore, blockchain could facilitate true ownership of these digital assets, allowing players to trade them freely on blockchain marketplaces.
The Rising Popularity of Decentralized Gaming
Blockchain’s influence is already visible in the emergence of decentralized gaming — games built entirely on blockchain technology. These games allow players to have complete ownership of their in-game assets, which can be traded or sold independently of the game. This not only enhances the gaming experience but also opens up new economic opportunities for players.
Non-fungible Tokens (NFTs) and Gaming
The rise of non-fungible tokens (NFTs), a byproduct of blockchain technology, presents another exciting avenue within the gaming sector. NFTs are unique digital assets that can represent ownership of a particular item or piece of content. In online gaming, NFTs can be used to represent a piece of evidence for assets, such as: characters, equipment, or even virtual real estate.
Future Potential and Challenges
The adoption of blockchain in the online gaming industry is still in its infancy, but the potential is enormous. However, like any disruptive technology, blockchain isn’t without its challenges. Issues such as scalability, regulatory acceptance, and technical complexity need to be addressed for its widespread adoption.
Blockchain technology’s potential to create a more transparent, fair, and user-friendly online gaming experience is undeniable. As the industry continues to explore and embrace this technology, both players and gaming companies stand to reap significant benefits. Navigating the challenges and leveraging the opportunities, blockchain might indeed become a game-changer in online gaming’s evolutionary journey.
BetConstruct Introduces Revolutionary Game Built on Blockchain Technology
BetConstruct presents Alligator Validator – the first-ever game entirely based on blockchain technology.
Alligator Validator, the one-of-a-kind game where all transactions are made using blockchain technology, is promised to be among the biggest innovations in the current iGaming market. The game is an explosive combination of fresh and vivid graphics, cutting-edge game mechanics and brand-new payment systems built on blockchain technology.
The blockchain technology adds extra security and transparency to the game – not requiring any centralised third parties to control the flow of funds and being processed independently by the smart contracts.
It is also a perfect addition for all Bahamut validators, as it gives an opportunity to improve validators’ positions and earn block rewards for helping to secure the network. Validators play an important role in securing the network by showing activity and validating blocks using the PoSA consensus mechanism. Thus, validator-partners who enable the game on their platforms not only add a unique and thrilling game to their catalogue but also maximise their ROI.
BetConstruct believes the innovation will shape the future of the iGaming market and make crypto games more accessible to a larger audience. Thanks to its fresh and distinctive premise, Alligator Validator will breathe new life into the player experience and help partners earn huge rewards for helping secure the network.
Add the game to your catalogue, and don’t miss the chance to become one of the first to encounter the new reality of iGaming!
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