EOS Venture Fund Backs Innovative NFT DEX Protocol EZ Swap In $1M Funding Round

EOS CRYPTO_NEWS

Blockchain gaming has become a key area of focus for EOS Network Ventures (ENV), which has invested $500,000 into the NFT trading protocol EZ Swap as part of its ongoing efforts to strengthen the EOS network ecosystem.

The investment is part of a $1 million raise from EZ Swap that’s expected to bolster growth in the emerging gaming asset DEX and smart inscription protocol environment. Using the funds from this latest round, EZ Swap will be able to accelerate its technological development while enhancing its multichain capabilities, in order to support the growth of a thriving gaming economy within EOS.

Enhancing In-Game Asset Trading

The EZ Swap protocol aims to revolutionize the way gaming assets such as tokens and NFTs are transacted. It has created an innovative Automated Market Maker platform that can integrate with any blockchain game, creating a more fluid trading experience for players. It can be thought of as a decentralized NFT exchange framework that any blockchain game can use to create its own, integrated NFT DEX and facilitate smooth asset transactions via a P2P-based trading model.

In particular, EZ Swap stands out for its in-game liquidity pool system, which allows for LPs to be created with NFTs and ERC-20 tokens. In this way it can facilitate dynamic asset market-making at the lowest possible cost, helping to control NFT prices and boost value creation within any blockchain game.

In this way, blockchain games can overcome challenges around the lack of capital within their nascent ecosystems. Many new games are held back by critically low NFT liquidity, placing heavy restrictions on the ability of players to trade their in-game assets. This is because they’re forced to use third-party, Orderbook-based marketplaces for NFT asset trading, which leads to an inefficient trading experience and fragmented gaming experiences.

With EZ Swap, blockchain games have a powerful solution to enhance the circulation and utility of their NFT assets and create a more sustainable economic model. It enables any game developer building on EOS EVM to embed its NFT DEX directly into their game using the EZ Swap API protocol. This means that game developers can focus more on their actual game, rather than worrying about asset management.

As an added advantage, EZ Swap’s protocol also serves as a platform for asset issuance, enabling teams to launch new assets within minimal upfront capital.

EZ Swap is aided by its strong multichain capabilities, with official support extending to the Ethereum, Arbitrum, Polygon, Manta and zkSync communities, and now EOS EVM too. The protocol is also a leader of smart inscription technology, establishing a strong connection between games and the ORC-20 community and other inscription groups.

Advancing Blockchain Gaming

By providing EOS game developers with a ready-made trading infrastructure for their NFT assets, EZ Swap is expected to play a key role in growing the EOS blockchain game ecosystem and helping it compete with more established blockchain platforms.

Looking forward, EZ Swap says it can further aid EOS and other blockchains, leveraging its permissionless liquidity pools to facilitate inscription-based price matching through its AMM, bringing more liquidity to any game that integrates its protocol. In addition, it’s also working towards the launch of a new perpetual contract market for NFTs, a move that it says will increase traders’ influence on digital asset prices.

ENV Director Yves La Rose, who is also the founder and CEO of the EOS Network Foundation, said he is thrilled to back EZ Swap. He believes that the protocol will bring “unprecedented value and opportunities” to the EOS community.

The funding is significant, not only as a vote of confidence in the blockchain gaming industry, but also because it accelerates ENV’s mission of driving the adoption of key projects that will aid in the overall growth of the EOS network.

Source : DailyCoin / Jan 4, 2024

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