Waves Platform, a decentralized blockchain ecosystem for creating Web 3.0 solutions, launches the Item Market, a platform for tokenizing and trading in-game items.
The Item Market platform allows game developers to easily integrate an open economy into their projects, as well as offering players a secure way to trade their digital items. Any in-game item or currency can be tied to a token in the blockchain, which guarantees confirmation of ownership and the safety of trade. With the exception of trade itself, tokenization is able to introduce new mechanics into games, bringing digital elements as close to their physical counterparts as possible.
In-game tokenization allows you to change the interaction between players, as well as players and developers, making it more interesting and attractive for users, while developing approaches to monetization and increasing the user’s “life” time in the project.
Thanks to tokenization, ownership of game items is granted to players. Users can be sure that the items really belong to them and can be put up for sale safely. On the other hand, game developers can implement new monetization models, such as taxation for transactions between players.
“Blockchain robs corporations of their main asset – data monopoly. All yours is really yours, which will be confirmed by any participant in the system. This allows you to introduce an open economy into the industry, to bring relations between players and developers to a new level, ”notes
Alexander Ivanov, founder and CEO of Waves Platform. “Today our team presents Item Market – a platform that will bring novelty to the gaming industry, putting players and developers on the same side!”
Everyone probably remembers cryptocurrencies. Each kitten is an indivisible token (NFT) on the Ethereum blockchain. Thanks to the release of the Waves 1.0 client, it was also possible to create NFT on the Waves Platform.
Recently, the Waves development team created the SDK to make tokenizing in-game items easy and fast. All detailed information on how to do this is here.
Today, the Item Market launches with two available games. One of them is cooperation with the popular YouTube video Nyan Cat. Together with Gamedelta, the developer of the game Ether Kingdoms, Waves brings back the good old meme about Nyan Cat in the project ‘Nyan Cat: The Crypto Racing Game!’ The new game developed on the Waves blockchain is an open-ended racing game.
The gameplay is quite simple: each cat has a portfolio of several leading cryptocurrencies. The goal of the game is to distribute 100% of the portfolio in cryptocurrencies so that the player’s state grows the most during the race. All exchange rate information is taken from the Binance or CoinMarketCap APIs in real time – an open economy in action!