Nintendo, PlayStation and Xbox get new competitor as Zilliqa prepares to launch Web3 game console

Zilliqa has unveiled a new web3-focused game console and hub that will launch in 2023.

The console, scheduled for release in 2023, integrates complex Web3 elements such as crypto wallets and mining, allowing gamers to earn ZIL coins for completing in-game quests, similar to how existing games reward users with virtual currency, except that the rewards now include blockchain technology. .

Zilliqa wants to make his foray into the gaming industry against major industry giants such as Playstation, Nintendo and Xbox. Video game consoles generated approximately $107.5 billion in 2021. Statista expects the industry to grow to $130.8 billion by 2026.

The prototype console reveals an HDMI port, Ethernet, USB-C and USB 3.0 ports. Zilliqa has kept her mouth shut about other specs, though it did indicate that the console was designed to abstract the complexity of Web3 to provide a more user-friendly experience.

Players can also mine ZIL coins, which adds to the security of the Zilliqa blockchain.

At the time of going to press, Zilliqa was testing the console for a Q1 2023 launch.

In August 2022, Zilliqa launched its first personal shooting game, WEB3WAR, to be a skill-to-earn game rather than a play-to-earn game like Axie Infinity, which the company believes is a more economically sustainable model. is. WEB3WAR will be one of the first two titles Zilliqa will release for the console.

Zilliqa is a layer one blockchain for smart contracts. Earlier this year, Zilliqa announced partnerships with several esports teams, the latest of which is Swiss company Xborg, to propel its Web3 gaming efforts. Xborg gives its player base access to games built on Zilliqa so that players can provide feedback on their experience. Whenever possible, Xborg will try to raise awareness of Zilliqa games to the wider gaming community.

gamers vs. developers riddle

Zilliqa’s approach is designed to appeal to avid gamers more than crypto enthusiasts who don’t mind a rudimentary game story and experience. Play-to-earn games have struggled with sustainable tokenomics in the past, as evidenced by Axie Infinity’s migration from play-to-earn to play-and-earn following inflationary concerns over one of its in-game tokens. Other games like Splinterlands have fared better, with updates encouraging token hodling by offering hodlers rewards. There is a constant tension between players who want to sell in-game tokens to fiat and game developers who don’t.

Siled ecosystems frustrate gamers

One of the problems traditional gamers face is that they don’t own in-game items that they acquire by completing missions and tasks, and game sellers sometimes go to great lengths to prevent players from exchanging assets. In some cases, players wishing to trade such assets have to sell their accounts on the dark web.

Valve Steam Community Marketplace pioneered a different approach that allowed players with various Valve titles to trade assets. Valve now has a peer-to-peer marketplace where gamers can trade assets with fiat money.

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