online gaming

Waves to Reward Developers for Creating Games on Its Blockchain

The Waves decentralized Blockchain platform has just announced that it is endeavouring to start an initiative where video game firms will be hired to build applications on the Waves’ Blockchain. The total budget for the initiative is USD 2 million where 1 million WAVES will be offered to different game developers who get accepted into the program after completing the application process successfully.

The press release published by Waves on their Medium account states that they are looking for the development of such games that provide users with tokenized assets as reward. The CEO and Founder of Waves, Sasha Ivanov, is of the view that the distributed ledger tech of Blockchain perfectly meets the needs of the gaming industry. In a statement, he was quoted as saying:

“This initiative was launched to showcase the versatility of Waves technology and stimulate its adoption in such an important industry as gaming. I believe that the gaming sector will be an enthusiastic adopter of blockchain, and will drive its widespread use. Given the mutual opportunity here, we are more than ready to reward developers for the effort they make in implementing their projects within Waves ecosystem.”

Waves platform will further provide developers with the opportunity to build their marketplaces by utilizing the Waves crypto exchange. As per the press release, it is suggested that Waves is uniquely equipped to cater to the gaming segment because tokens on the Blockchain are assets and can serve as rewards

The gaming project was released by Waves at the Crypto Games Conference held in Minsk from October 17 to October 18, 2018. At the conference, a challenge was conducted by Blockchain Engineer from Waves, Yuri Naydenov, wherein the contestants were to develop a basic game on the Waves Blockchain. The first three winners got the opportunity to win money prizes of 750, 500, and 250 WAVES.

At the time of writing, WAVES was trading at $1.94 USD with market capitalization of about $194,243,064 USD. We are of the view that the deployment of cryptocurrencies in video games as rewards could lead the way for more adoption, especially by video gamers.