The eGaming industry is experiencing rapid growth, with a global market size expected to reach $127 billion by 2027. Among the many factors driving this demand is web3 gaming, with in-game asset ownership, community-driven development, and greater transparency providing richer gaming experiences. Yet blockchain-based gaming is still in its infancy.
Many projects struggle to gain traction due to high fees, high latency, and a clunky user experience integrating web3 wallets. Built on top of the popular Layer 2 (L2) Base chain, XProtocol aims to change the game with an entertainment and gaming-focused ‘superchain’ to combat scalability issues in web3 and drive mainstream eGaming adoption.
Web3 Gaming Needs to Scale for Mass Adoption
According to Deloitte, blockchain-based games could increase player engagement by up to 30%. Blockchain provides a decentralized and transparent platform for gaming, allowing secure transactions, in-game asset ownership, and community governance. Its decentralized nature empowers players and content creators, enabling them to take control of their assets and creations, fostering a more connected and engaged gaming community. Major gaming developers are recognizing the sector’s fierce potential, with 29 of the 40 largest global studios investing in blockchain game development.
Yet, blockchain gaming is not without its disadvantages. For non-crypto users, the complexities of integrating a web3 wallet into games and learning self-custody best practices considerably raise the barrier to entry. Those who cross this chasm often run up against high fees and lagging times that hamper their gaming experience.
Popular blockchain-based games like Axie Infinity and The Sandbox saw user numbers drop off a cliff due to slow loading times, high transaction fees, and network congestion on the underlying Ethereum chain. Worse still, of the blockchain-based games launched in 2023, more than 30% have already been declared “dead.” If web3 gaming is to meet the demands of a growing market, it needs to scale for mass adoption.
Redefining the Digital Entertainment Landscape
Supported by prominent backers including Saison Capital, Zephyrus Capital, Dragonfly, and Coinfund, XProtocol has already raised more than $5.2 million for its revolutionary web3 entertainment blockchain ‘superchain’ that aims to combat problems with blockchain scalability. Built as an L3 on the robust Ethereum Base L2, XProtocol seeks to redefine the digital entertainment landscape and leverage blockchain’s best features to create a dynamic, value-driven environment for gamers and creators that removes crucial barriers to adoption.
Leveraging Base’s scalable technology with its consistently high throughput, XProtocol can ensure users don’t suffer from high fees, network congestion, or lagging woes. To make blockchain gaming more user-friendly and palatable for the average gamer, XProtocol is focused on account abstraction, integrating web3 wallets within its games for easier onboarding and a smoother gaming experience.
Powered by the native KICK gas token, node operators will be rewarded for securing the network and users can earn additional rewards in the ecosystem for additional activities, such as incentivized farming and gaming.
Beyond scalable, secure infrastructure for blockchain gaming, XProtocol provides a developer-friendly platform for partnering projects and compatibility with all Ethereum Virtual Machine (EVM) projects for seamless migration and easy integration. Slated for mainnet launch in Q4, 2024, XProtocol has already joined forces with some web3 household names among its protocol partners.
Wonderverse, for example, is a gaming publishing studio building multichain IP to onboard “the next billion gamers into web3,” and DestinyX is an entertainment-focused gaming portal and crypto trading “superapp.”
Bringing the Next Billion Gamers to Web3
More projects are lining up to become XProtocol partners and create an entertainment and gaming ecosystem seamlessly interoperable with external decentralized applications (dApps) and EVM-compatible chains. Beyond earning rewards from blockchain gaming, users can become node operators or participate in incentivized activities to stack more KICK rewards. Harnessing the best web3 has to offer and abstracting away its complexities, XProtocol will redefine the digital landscape for all.
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Company Name: XProtocol
Contact person: Mai
Company Email: press@xprotocol.org
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