DeFi

Solana to Replace Ethereum in Blockchain Gaming

The blockchain gaming sector continues to gain steam, given that it attracted investments worth $1.1 billion in January, according to a recent Blockchain Game Alliance and DappRadar report. Virtual worlds, decentralized applications (dapps), and play-to-earn platforms attracted the lion’s share of these investments. 

Solana, a public blockchain platform with smart contract functionality, has a native cryptocurrency well known as SOL and claims to offer faster transaction times and lower costs than its main competitor, Ethereum, (a decentralized, open-source blockchain with smart contract functionality, having the second-highest market capitalization after Bitcoin) made a great stride just recently as it sets out to take over Paradox Blockchain Gaming Studio.

Solana Eyes Lead Position For Blockchain Gaming

In recent times, P2E games are becoming increasingly popular, with the industry tipping to skyrocket in value in the coming days. Since the first video games emerged in the 1970s, video games have come a long way, with the industry tipping to surge over $180 billion in annual revenue as of last year. Following the trends of these optimistic predictions, Solana does not want to be left out of the P2E craze and big leap, as the network has made significant efforts toward making its blockchain the favorite launchpad for developers. 

Quite fascinating to note is that last year, Solana launched a $150 million fund for the sole purpose of investing in Web3 games. The network has also made game building easier for developers. With unrivaled speed and low transaction costs, Solana looks set to take Web 3 gaming by storm. Compared to Ethereum’s Solidity language when developing play-to-earn (P2E) games, the ease of use of Solana’s building language- Rust, will give Solana a competitive edge.

Why Solana Remains as the Sage to Developers Over Ethereum  

Without many compromises, Ethereum has for a long time been known to be a platform that in a way discourages Projects from launching and operating efficiently due to its high gas fees which also takes a ripple effect on some other persons around its ecosystem. AmioTalio, CEO and founder of Paradox Studios, noted in a press release that Solana has been in constant development behind the scenes to lure P2E game developers into launching their games on the network.

He further stated that while building his own P2E game, he met with several developers who told him how easier it is to use Solana’s Rust platform in game development than Ethereum’s Solidity language. These developers seem happy and are eager to launch their games on Solana, choosing the network over Ethereum.

Solana moves with Double Exhaust Pipe in Web3 Gaming Against Ethereum

Following massive efforts being launched towards the growth and enhancement of play-to-earn (P2E) games by popular blockchain, the CEO of Solana doesn’t seem easy on Ethereum. According to him, he maintains a positive stance that the network would overtake Ethereum this year in blockchain gaming as it leaves it in the dust. With blockchain gaming continuously accelerating the metaverse narrative, AmioTalio believes that the huge funding that Solana is offering developers is intended to woo them from the Ethereum network, and it is starting to take shape.

Solana Ventures gets $150 million in blockchain games funding

Solana Ventures, a subdivision of tech giant Solana Labs, recently announced the start of a $150 million investment project centered on blockchain gaming, in partnership with Forte and Griffin Gaming Partners, two significant participants in the market. Griffin is a venture capital business that invests in the worldwide gaming market, whereas Forte develops technology for blockchain-based gaming applications.

According to a Solana Labs representative, the trio’s fund is denominated in dollars rather than Solana (SOL) tokens. It intends to invest in gaming companies that use the Solana blockchain. The network’s capacity of 65,000 transactions per second and average transaction cost of $0.00025, according to Solana Ventures, make it the perfect blockchain for gaming applications. According to the spokesman, the new fund will participate in both equity and token rounds in firms and intends to be fully operational in the next 18 months.

Investments in Gaming

Over the last two years, Griffin has invested more than $400 million in gaming and Web 3.0 game-related firms. Griffin co-founder Nick Tuosto stated that the business would continue to work with Forte and Solana to advance the blockchain gaming ecosystem.

“Gaming and interactive media would not be a cornerstone of blockchain today if it weren’t for the many technical developments the community has accomplished in the past decade,” Pierre Planche, partner at Griffin Gaming Partners, said in a press release. “Solana is a premier example, having helped pave the way with scalability and [user experience] fit to match these demanding experiences.”

A $100 million fund led by Gala Games and C2 Ventures announced recently, as well as a $200 million fund from Hashed earlier in December, are two other recent large Web 3 gaming investments.

According to Matthew Beck, partner at Solana Ventures, which funds projects for the Solana blockchain, “The ecosystem is still defining what the intersection of blockchain and gaming looks like.

Growth in Blockchain Gaming

According to reports, the worldwide gaming industry was valued at $173.7 billion in 2020 and is predicted to reach $314.40 billion by 2026. The increase can be attributed in part to global lockdowns during the pandemic when individuals were forced to stay at home and turn to game platforms to relax and unwind.

Players from all over the globe can own things, actively exchange services and goods with one another, and participate in community systems that reward innovation, participation, and talent in blockchain-enabled games.

Players can also be rewarded in some blockchain games with cryptocurrencies of some popular blockchains after playing. This makes gaming both fun and thrilling as people are now excited by the opportunity of earning an income from their leisure skills.

According to Forte co-founder and Chief Executive Officer Josh Williams, “Where game developers once had to continuously create new content for players to consume as one-time purchases, with the advent of NFTs (non-fungible tokens) and other blockchain technologies, game developers can now offer … real property rights and create self-sustaining and thriving economies within their games.”  

Austin Federal, head of communications at Solana Labs, one of the main builders in the Solana blockchain, noted that blockchain gaming is at an early stage, adding that development is still ongoing in the space. He said, “Blockchain gaming is really at the early stage right now. A lot of tooling and infrastructure are still being spun up.

The First “Living Eco-NFT” by Star Trek’s Creator

The NFT industry is evolving at a rapid pace and every day the ecosystem sees new experiments that keep the industry both exciting and rewarding for the users. In exciting news, the signature of Star Trek producer Gene Roddenberry has done something extraordinary by boldly going where no NFT has gone before – into the code of life itself. 

The signature in discussion is iconic in itself as it is the signature by Roddenberry to sign the contract with Lucielle Ball’s Desilu Productions for financing Star Trek, back in 1965. The signature was turned into an NFT on November 30 and implanted in the DNA code of a living bacteria cell, 30 years after the Sci-Fi icon’s death. 

The World’s First Living NFT

The implantation of the NFT into the DNA code of a bacteria is an ideal representation of how far science has come along and is nothing short of a Sci-Fi movie in itself. Roddenberry Entertainment describes this amazing feat as the first-ever “Living Eco-NFT” and “a true intersection of science and science fiction.” 

One of the amazing prospects of this mind-boggling achievement is that the NFT piece will automatically replicate and grow with the growth of the organism’s cells. 

“As long as the bacteria remains living, the cell can double at a rate that will create over a billion copies of the Eco-NFT overnight.”

The amazing artwork and Sci-Fic piece are exhibited as an art piece called “El Primero” a Spanish phrase for “The First” in Miami during the Art Basel 2021. The NFT piece was born out of the collaboration with the CEO of Rational Vaccines and Emmy-winning director Agustin Fernandez. He said, 

“Storing information in DNA represents a whole new category of possibility when it comes to data archiving.” He added, “It provides sustainable, environmentally-friendly storage with exponentially larger capacities than anything the market currently has to offer.”

The NFTs is built on the Solana Blockchain and is supported by Metaplex Studios, “The Solana blockchain provides an extremely energy-efficient platform for NFT creators to build on,” told Stephen Hess, the CEO. 

This fast-paced adoption of NFT and integration with science and technology opens up the doors to unexplored opportunities. While Star Trek is no stranger to NFTs, several other production houses, such as Disney are also joining the NFT space. 

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#StraTrek creator, Gene Roddenberry’s signature becomes the first #NFT or ”El Primero” to be implanted into the DNA of an organism! 

The El Primero NFT is truly an amazing feat! ?

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