For a lot of time, the metaverse has failed to impress a lot of non-tech-savvy consumers.
It has been known as a baffling concept that talks about a digitized universe or virtual reality, that emerges through the mysterious use of devices that enable users with the access to escape into a virtual world.
Just recently, it has only become a tangible reality, thanks to revolutionary advancements in the world of technology.
And at the forefront of this advancement are the titans of the gaming industry.
Through their commitment to creating immersive and interactive experiences, they have pushed the boundaries between what is real and what is fabricated, bringing the Metaverse ever closer to our fingertips.
A Brief Overview of Zilliqa’s Involvement in Gaming
Zilliqa, the scalable secure high-speed blockchain built for performance and mass adoption was founded in 2017 by a team of academics in NUS. It became the first blockchain to implement sharding technology on its mainnnet in 2019.
According to its creators, Zilliqa is built by a proprietary smart contract language, Scilia which is created on the tenets of usability and safety for developers.
The Zilliqa blockchain has recorded over 31 million transactions and processed over 3 million unique active wallets globally and dapps that range from DeFi and many more.
Zilliqa is one of these blockchain platforms that is leading the race to make web3 gaming a reality. With its new web3 gaming console, Zilliqa is providing gamers and streamers with a better platform for gaming.
What Zilliqa is doing right now is creating a console similar to the likes of PlayStation and Xbox but this time, the console is web3-focused.
Zilliqa plans to make this console to be like one where you can play some play-to-earn games at home just like you would do with an Xbox.
Now, as huge as the potential success for this is, I cannot even imagine it and how they are going to have an interface similar to an Xbox where you go in to, select your NFTs and your portfolio, and engage in different activities which make up web3 gaming.
What is Zilliqa?
Zilliqa is a blockchain platform that was founded in 2017 by a team of academics to solve the high processing issues that major blockchains like Ethereum face.
Zilliqa has managed to achieve status as the first public blockchain to implement sharding technology. This new piece of tech allows the platform to process a high volume of transactions at once which increases its output within a short period than traditional blockchains.
Zilliqa has also made notable progress in the area of decentralized applications. The platform is a host for different decentralized applications that use the unique sharding feature to deliver a seamless and secure experience.
The Zilliqa Web3 Console
Zilliqa is set to enter the web3 gaming market with the introduction of a hardware web3 console for gamers.
A Prototype for the console was released last year with expectations for the sale to have begun earlier this year.
The look features a modern style with a variety of interfaces which included HDMI, Ethernet, USB C, and USB 3.0 connections was released seven months ago at a GamesCon.
Compared to traditional gaming consoles, the team at Zilliqa was into incorporating a web3 console with elements such as crypto wallets, mining software, and blockchain technology for a similar web3 experience.
The web3 console by Zilliqa was expected to be released alongside their game WEB3WAR but there has been no news about the console this year.
The game, WEB3WAR has already been released and can be downloaded directly from their website
Zilliqa’s Web3 Gaming Ecosystem
Zilliqa is still expected to launch its web3 console along with three native web3 games that users all over the world can indulge in.
Players will be able to mine ZIL tokens, which is the native cryptocurrency that will allow them to profit from mining which depends on how well they perform in-game.
The launch of Web3War on March 31st, 2023, featured a high-performance first-person shooter game in the Zilliqa blockchain which is designed to reward gamers with the best aim and fastest reflexes.
Players rise to the top of the leaderboard and gain rewards. It is designed to be fast-paced and competitive. There are different game modes that give some players the upper hand over others just like the traditional games.
In 2020, Zilliqa partnered with XBorg, one of the leading Esports organizations and to advance the development of its rapidly-expanding game ecosystem.
The plans of this partnership include benefits such as early access to games that are hosted on the Zilliqa blockchain to XBorg’s players and other promotions with ambassadors and influencers.
Web3 Gaming Features
The integration of blockchain technology into gaming has opened new features and benefits, that are changing the way gaming companies operate.
With all the different blockchains available, game developers can create decentralized games that offer players greater control and ownership over their in-game assets.
These assets can be stored on the blockchain as non-fungible tokens (NFTs), giving players the ability to trade or sell their assets outside of the game just like in Otherside.
This not only provides players with greater control and flexibility over their assets but also creates new opportunities for investors who are looking to expand their portfolios.
In addition to ownership of in-game assets, web 3 gaming also offers opportunities for monetization and rewards in gaming.
Some blockchain-hosted games offer a play-to-earn model, where gamers and creators earn cryptocurrency or other token rewards for completing missions in-game.
This alone opens up new opportunities for professional gamers to earn income through gaming other than contracts and can be particularly appealing in countries where traditional job opportunities are limited.
Security and immutability of player data is other key benefit of blockchain technology in gaming.
Since we all know that blockchain is decentralized and immutable, each player’s data cannot be altered or manipulated by a central authority or hackers, providing a high level of security and transparency in gaming tournaments.
Financial transactions, biodata, and game progress of web3 games cannot be altered since they are decentralized.
These are some of the benefits of a web3 gaming ecosystem and Zilliqa is just one of the thousand blockchain-developing companies pushing for the adoption of a decentralized gaming ecosystem with their recently launched web3 console.
Tokenomics and ZIL Currency
The native currency of the Zilliqa blockchain is called ZIL. ZIL is used to pay for transactions on the Zilliqa blockchain and serves as the primary currency for the Zilliqa gaming ecosystem which involves both their partnerships with other gaming companies.
For the Zilliqa gaming ecosystem, ZIL is used for a range of purposes, including purchasing in-game items and assets, paying transaction fees, and participating in games and events.
The use of cryptocurrencies for gaming in the world of web3 creates a seamless and efficient payment system, allowing players and developers to transact with ease and security.
In addition to its use in the gaming ecosystem, ZIL also has a unique tokenomics system designed to incentivize players and developers as rewards are given to players who participate in games and activities on the platform, such as completing quests or achieving high scores.
As the Zilliqa gaming ecosystem grows and more players and developers participate, the demand for ZIL is likely to increase, potentially leading to an appreciation in token value.
As of May 13th, 2023, the ZIL token’s live price is $0.023509 USD with a 24-hour trading volume of $14,245,406 USD according to CoinMarketCap.
Overall, ZIL plays a crucial role in the Zilliqa gaming ecosystem, serving as the primary currency for transactions and rewards to create an efficient system for transactions.
Challenges and Solutions
To address these challenges, Zilliqa has taken a unique approach to building a high-performance, scalable blockchain platform. Zilliqa uses sharding technology, which allows the network to divide transactions into smaller, more manageable pieces that can be processed in parallel.
This approach significantly increases the network’s transaction speed and throughput while reducing transaction fees, making it more cost-effective for players and developers.
Another challenge in Web3 gaming is the difficulty of integrating blockchain technology with traditional gaming systems and platforms.
Zilliqa has worked to address this challenge by building an easy-to-use development environment that allows developers to create and deploy games on the blockchain quickly.