Zilliqa poised for growth with new Skill2Earn approach to Web3 gaming


The next generation of Web3 entertainment is here, and it is powered by Zilliqa.

The boom and busts of the last cycle’s ‘Play2Earn’ have haunted the GameFi space. Whilst games like Axie Infinity drove impressive user numbers for a while, the unsustainable tokenomics of several of these projects meant the ‘earn’ element was short-lived. The model was pioneering, yet imperfect.

Zilliqa is aiming to level up these early ideas through its unique Skill2Earn philosophy, a merit-based system that rewards the best gamers, and it all begins with Web3War.

Web3War, the action-packed multiplayer shooter developed by Roll1ng Thund3rz, recently launched its $FPS in-game token, which unlocks a myriad of innovative player experiences, maps, and seasons. More significantly, this landmark brings a new dawn for gaming through a utility token that is crafted to offer genuine value to players.

Skill2Earn puts gamers and incentives first. Players are rewarded based on their in-game performance, allowing them to earn tokens for outcompeting their rivals which, in turn, incentivises deeper engagement than Play-to-Earn mechanics.

The combination of Skill2Earn with Zilliqa’s scalable and powerful Layer-1 blockchain will drive the network effects and growth of the ecosystem. Player activity in-game - via tokens, NFTs and SeasonPasses - leads to more transaction volume, wallets, TVL, and dApp development for the Zilliqa network.

The Winners Circle will also leverage Skill2Earn within its prediction games, which forms a core part of its strategy for rewarding fans for their engagement. This exclusive loyalty programme is just another example of Zilliqa’s strategy to break new ground in the entertainment and gaming space.

Let’s take a look at how Skill2Earn can drive growth on Zilliqa.

Skill2Earn and a sustainable approach to Web3 entertainment

Many projects have attempted to leverage the unique capabilities of Web3 by implementing various types of ‘Play-to-Earn’ systems. This mechanic simply rewards players with digital currency as long as they continue to engage with the product (i.e. time = reward).

This ‘Play-to-Earn’ model initially attracted widespread attention. However, it has proven to be difficult to maintain, with a number of projects witnessing their token economy collapse due to diminishing rewards and, therefore, lower interest from gamers. Many were unsuccessful due to overly basic gameplay or simply a lack of fun.

Skill2Earn offers a refreshing and more refined approach to Web3 gaming that puts the player experience and skillful gameplay first. Rewards stem from deep engagement, dedication and results which, in turn, motivates players to become more accomplished so that their game proficiency, and not just their time, unlocks benefits.

This approach is primed to be rolled out across the Zilliqa ecosystem as Skill2Earn is fully integrated with its scalable, flexible, and interoperable infrastructure.

Engaging gaming projects that drive value for users and Zilliqa

Projects like The Winners’ Circle and Web3War drive growth on the Zilliqa blockchain through both exposing Zilliqa to new audiences and through their operations.

This results in users of these applications and others on the Zilliqa network benefitting from the operation of these layer-two applications.

When players in Web3War earn $FPS through gameplay or purchase cosmetic skin NFTs and other items, this builds transaction volume on the Zilliqa blockchain, creating value for the network’s token economy.

The increased adoption of Zilliqa brought about by these applications is also great for the network, as it leads to more people using wallets, DeFi applications, and other solutions running on the blockchain.

Whether it’s increased demand for native tokens or the deflationary result of more gas being burned for transactions, the success of projects like Web3War and The Winners Circle helps grow a healthier economy for the Zilliqa network.

This phenomenon is set to be the driver for significant growth on Zilliqa as more ambitious projects come online and their success attracts more people to build on the network.

The new Skill2Earn model used in Web3War, the Winners Circle, and other upcoming projects leaves the Zilliqa ecosystem poised for rapid expansion as it benefits from this more engaging and sustainable way to approach Web3 gaming.

With game-changing projects across a range of industries, an unprecedented and novel approach to Web3 gaming, and the technical platform to deliver fast and reliable performance, Zilliqa has quickly become the destination for scalable and sustainable Web3 projects that will help drive growth in the ecosystem.

Source : Medium / Feb 19, 2024

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