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Why Decentralized Gaming is the Future

·4 min read

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

There is a sizable overlap between the blockchain community and the gaming community. Tech-savvy people who are fascinated with blockchain also tend to be people interested in gaming and actively partake in it. This has been seen with the popularity of NFTs in the gaming sector, with many rare and valuable NFTs being traded within games.

So far, one frontier that has not been fully explored up until now was decentralized gaming i.e games built and operated entirely on decentralized technology. Recent efforts seem to correct this, including the launch of Ulti Arena, a marketplace specifically for trading gaming assets with a view to blockchain technology.

Ulti is rolling out some amazing new products, including an NFT marketplace for gamers and developers, a proof-of-gaming consensus, and a crypto trading card game.

How Ulti Works

Ulti is a platform that is seeking to help gamers, artists, and developers better monetize their offerings through its marketplace and innovative features. It is the first NFT Marketplace for Game Assets built on Binance Smart Chain and prioritizes the ability to track digital asset usage on a blockchain network. First, it allows for the tokenization and trading of in-game assets. Assets such as skins, tools, and even characters have been traded within and outside of the gaming world for years but with Ulti’s marketplace, these assets can be securely traded with proper, irrefutable records of transfers of ownership, as well as increased revenue for the developers and artists behind the assets.

Some of the offerings to be put up for sale include unique 2D/3D assets, music, sound, and UI/HUD elements.

As for the games that are not based on blockchain, Ulti will be launching a proof-of-gaming/Play2Earn program, including some of the biggest games in the industry like Dota 2 and LOL. This method has been praised for being much more sustainable and eco-friendly compared to current mechanisms like the proof-of-work used on blockchains like Bitcoin.

It taps into the financial aspect of blockchain in that developers can create NFT versions of their creations and then make a living from selling them. This also benefits fans who will have access to exclusive digital assets that cannot be found anywhere else, reproduced, or owned by anyone else.

30% of the revenue generated through platform fees will be used buyback and then burn the platform’s native ULTI token in order to manage its supply. The token can be purchased directly through its incoming sale on Pancake Swap which begins from September 12, 2021, or can be ‘mined’ by playing games. The Proof-of-Gaming concept used for the creation of ULTI tokens means that the more users play the games, the more tokens they will receive.

The mining of tokens through gameplay is called proof-of-gaming and is a revolutionary way to benefit games and the crypto industry simultaneously. Players are encouraged to interact with games within the ecosystem for the opportunity to earn rewards, thus benefiting both the people who designed the games and the gamers themselves.

Ulti has also put measures in place to make sure that the game is as deflationary as possible. First, there is a 6% tax on all transactions and this amount charged is distributed in the following ways. The first third of the 6% tax (2%) is distributed back to all token holders. This highlights another benefit of holding the ULTI token which is that users can earn even more tokens simply by HODLing.

Another 2% of the token tax burned instantly to keep the supply low and the price of the token high. The final 2% is put away in a liquidity pool that helps sustain the ecosystem in the long term.

Ulti also has plans to launch its own crypto trading card game, effectively combining blockchain and gaming, which is at the core of its operations, in development with Remote Control Productions and Frag Games. All these will follow its September 12, 2021, PancakeSwap sale.

Blockchain and Gaming

Blockchain technology is on track to revolutionize the gaming world, especially when it comes to the monetization of assets. Just like it did with the world of art, NFTs will allow for in-game assets and features to be bought by fans who are passionate about them and will help foster a mutually beneficial relationship between them and the developers of the games.

With platforms like Ulti leading the way, we can expect to see even more interaction between the two industries moving forward.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.