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Blockchain is Redefining the Gaming World; Here's How

Press Release • May 10, 2022

After the introduction of blockchain in 2009, what followed was its use in different worlds. Blockchain gaming, for instance, came to life a few years after the launch of Ethereum. Ethereum became the backbone of smart contracts, which host Defi, NFTs, DAOs, and other projects.



Blockchain gaming combines mainly NFTs and Defi. NFTs are blockchain-based assets that no one can replicate and are currently the backbone of blockchain gaming networks. NFTs could be the game, in-game assets, characters, and strengths.


On the other hand, Defi can handle the financial side of the game. Gamers can purchase characters, assets and even pay for entry using Defi tokens. The idea of blockchain in gaming seems like a significant improvement over old gaming networks. But how is blockchain changing the gaming space?


More Security


Initially, gaming networks were based on servers highly prone to attacks. Hacking the server could kill an entire project.


Now, gaming networks are turning to blockchain-based servers. These servers have robust security, data encryption, and decentralization features. Therefore, the games thereon are secure for the gamers and even the founders.


The technologies and coding used in creating blockchain make hacking them nearly impossible. Additionally, since blockchains are decentralized, hackers cannot destroy the whole server.

Some blockchain networks use sharding technology to break the database into many tiny shards. If one shard is affected, the others remain operational; hence the game remains functional.


The existing transactions in the networks cannot be deleted or modified by hackers. Being built on blockchain, these Dapps can achieve better transactional and asset security if they use the measures needed. Hence, the safety of blockchain-based gaming platforms is almost 100% guaranteed.

The transparency associated with blockchain can also contribute to enhancing security. Essentially, blockchain can prevent fraud since it publicly records transactions for everyone to see.


Play to Earn Transformed


Some people often think that blockchain brought the idea of play-to-earn. However, that is far from the truth. Most online gaming platforms have for some time been offering rewards for gamers. The tips often came in in-game collectables, which the holder could sell. So, how has blockchain gaming brought reforms?


Today, the play-to-earn gaming world has different reward options. For instance, gamers can earn rewards by winning or collecting in-game items. So, there are collectibles that either come as NFTs or tokens. Moreover, now there are marketplaces. If the collectibles are NFTs, Gamers can exchange them for other tokens and cash.


On some platforms, gamers can stake their in-game NFTs and earn extra rewards. The exciting thing about the blockchain P2E model is that there are no limitations on gamers earning potential. Basically, with different sources of income on a single gaming platform, gamers can amass massive amounts of wealth.

The use of tokens and cryptocurrencies is a huge benefit of the modern blockchain P2E platforms. So this new blockchain gaming world redefines how play-to-earn systems should operate.


Making In-Game Purchases Easier


Gaming networks using the crypto space have a very efficient system for purchasing in-game assets. In old systems, players have to wait a long time for 3rd party networks to complete payments. Such transactions could take even days to complete.


However, using a gamefi network, you get instant crypto payment. Hence, a gamer can immediately purchase an in-game asset and get it in the account/wallet. Blockchain gaming networks save gamers from high fees charged by 3rd party transaction completion networks.


Ownership


Originally, gaming networks had centralized ownership. The founders would easily control the players’ assets and collectibles. But, blockchain gaming is transforming the ownership of the gaming community from just a few.


The games use smart contracts to control transactions. All in-game assets purchased by gamers are automatically deposited in their wallets and are controlled by them. The transfer is entirely irreversible.


Creating Rarer Ingame Assets


Rare collectibles have been part of the gaming space for a long time. However, blockchain introduces a system where developers can create games with rarer assets. These rare gems have more demand and earn more income.


The Community is the Heart


Finally, blockchain gaming is all about the community. As mentioned earlier, the smart contract is not under individuals’ control. Instead, the platforms gaming community controls the operations.


For instance, these platforms initiate systems called Decentralized Autonomous Organizations. These DAOs help the community vote on various decisions for the project’s future. Justagame is an example of a gaming network built on NFT technology that leverages a community governance mechanism. According to the gaming platform, JAG token holders will have a say in the direction of the games and overall development roadmap.


Final Take


This guide has been exploring the idea of blockchain in gaming. Indeed, the introduction of blockchain in gaming brought a lot of benefits for gamers and developers. Security, ownership, rare assets all define a good blockchain-based game.


However, the most interesting of them all was the transformation in the P2E system. Now more than ever, gamers can earn more through different earning options within the games. Yes, the gaming and blockchain combination is still new but already offers more than the old system.

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Disclaimer: This article is not intended to be a source of investment, financial, technical, tax, or legal advice. All of this content is for informational purposes only. Readers should do their own research. The Capital is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by reliance on any information mentioned in this article.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. None of the content on Crypto Folds is investment advice nor is it a replacement for advice from a certified financial planner. Please do your own research before purchasing or investing into any cryptocurrency.  

AI and Gamification Meets Healthcare

By Press Release • 18 May, 2024
Wellchain , a revolutionary mobile super app that is changing healthcare coordination through artificial intelligence and blockchain technology, designed to simplify care coordination. This software as a service (SaaS) utilizes blockchain technology and offers a number of features such as telemedicine, team communications, remote monitoring, scheduling, alerts, reports, reminders and self-tasking functions.  The app comes in two versions - one for caregivers and one for patients - both of which can be easily integrated on the backend. Among the innovations, I'd note the ability to quantify care by assigning a severity score to a patient and tracking their progress or deterioration with a Change of Condition Index. Wellchain believes that the future lies in decentralization, including a segmented Internet and file storage. The project is backed by one of the industry's leading startup platforms, NFPad.io, and has partnered with Unigrid.io's leading infrastructure engineers. Through the project's features, actionable information can be provided to healthcare providers, helping to improve resource allocation and institutional efficiency. The app is designed for patients, hospitals, and healthcare providers. Wellchain aims to reduce healthcare costs by improving care coordination and incentivizing patient compliance through gamification. Wellchain will save at least 15% of healthcare costs globally (equating to $1.2 trillion annually) and improve patient outcomes by 15%. The value of a Wellchain token is directly related to the production (success) of the company. If a company is successful, 10% of all tokens are burned, resulting in low supply and high demand. Token holders can also vote on important decisions including project funding, token utility expansion, and governance rules. Active membership in the community is rewarded with WELLCHAIN tokens through a giveaway, which is 5% of the tokens. Patients receive attractive incentives (paid by the payer) for adhering to a certain treatment plan, and still incentivizes patient compliance while promoting active community participation. The blockchain uses customized NFTs to easily and efficiently track compliance. NFTs are matched monthly with paper rewards based on the level of compliance. Wellchain has pioneered the use of NFTs as a revolutionary incentive mechanism. On the site, patients can gamify their journey by participating in contests and competitions using NFTs, incentivizing healthy habits and a sense of accomplishment. Patients are rewarded for active participation and adherence to treatment plans. These unique digital assets act as tangible proof of a patient's commitment to their health, which they can exchange for fiat money. By gamifying healthcare with NFT incentives, Wellchain not only motivates patients, but also establishes a direct link between compliance and valuable rewards. The team commits to: continuously improve the functionality and utility of the token, expand the appeal and utility of the token globally, and regularly disclose the progress of funded projects and their overall impact. The WELLCHAIN token is a native token of the Wellchain ecosystem, WELLCHAIN serves a dual purpose in the ecosystem, acting as both a utility token and a management token. This versatility of the WELLCHAIN token contributes to the smooth operation and growth of the Wellchain platform. Oh, and right now you can get a 50% discount before it's too late! This is an exclusive whitelisting bonus. To whitelist, send an email with your government-issued ID to the project. Pre-sale of the WELLCHAIN token has started and runs through the end of May. So with this project you can not only get rewards, but also be healthy to make even more money on the crypto market! With Wellchain you will have iron health and a big bank account! Website: https://www.wellchain.io Twitter: https://x.com/Wellchainhealth?t=jK4MkiazMiioFFg-9NxXHQ&s=09

THOTIANA Launches Memecoin Presale with BONUS Airdrop Opportunity on Solana Network

By Press Release • 18 May, 2024
THOTIANA , the newest meme coin on the Solana network, has announced the launch of its presale. With a vision of transforming everyday struggles into crypto riches, THOTIANA offers investors a unique opportunity.  The first 250 investors will receive a bonus airdrop at the time of launch. Each $SOL invested equals 15,000 $THOT. The Opening of an Exclusive Presale The presale phase of THOTIANA has begun, promising a fair and generous opportunity for early investors. Those who join the presale benefit from potentially high returns and stand a chance to receive bonus airdrops. The team has allocated some of the funds to a strategic marketing campaign to ensure widespread awareness and adoption. Ambitious Plans for the Future THOTIANA's roadmap is ambitious and well-defined. The project begins with the launch of the official website and the establishment of social media channels. This initial phase sets the stage for building a strong community and providing essential information to potential investors. Following this, the presale and marketing phase takes center stage. THOTIANA promises a fair presale, with significant funds dedicated to a well-planned marketing strategy. This approach aims to attract a wide audience and ensure the success of the presale. The project then moves to allocated liquidity provision. Here, the THOTIANA team will add a substantial liquidity pool to a major decentralized exchange. For this purpose, the team set 15% of the token supply aside. To ensure security, liquidity pool tokens will be locked and burned, preventing any removal of liquidity. Additionally, the project will revoke the mint and freeze functions, further securing the project. As THOTIANA progresses, the smart contract will undergo a full audit, ensuring transparency and trust. The project will then launch on a prominent decentralized exchange, providing the best trading environment and early liquidity for investors. This phase marks a significant milestone, offering a secure and accessible platform for trading $THOT. Finally, the airdrop phase will reward all presale participants. Those who qualify for bonus airdrops will also receive additional tokens. This phase reinforces THOTIANA's commitment to its early supporters and ensures broad token distribution. About THOTIANA THOTIANA addresses a major issue in the crypto world: INFLATION. Unlike other cryptos with infinite supply, $THOT has a fixed supply, ensuring upward pressure on its value. Early investors benefit from a unique opportunity to multiply their investment. Additionally, the team will donate 2% of all funds raised to a charity chosen by the THOTIANA community. The idea of promoting social good alongside financial growth is a strong component of this project’s vision. If you missed the massive gains on $BOME & $SLERF earlier this year, now is your time for potentially 100x gains! Embrace the $THOT life & let your SOL take Thotiana to the MOON! Anyone curious to find out more about THOTIANA can refer to the project's website and the social pages below. X (Twitter) | Telegram

Galaxis Introduces AI-Powered Suite to Revolutionize Community Creation for Creators

By Press Release • 17 May, 2024
Galaxis , a leading platform for creators in the Web3 space, notable for its partnerships with high-profile figures such as Mike Tyson, Steve Aoki, and the NBA, has announced the upcoming launch of its new AI-powered Community Creator suite, designed to streamline and enhance the community creation process on their Membership Card platform. This initiative is designed to enhance the community creation process for creators by leveraging the latest AI technologies.  AI-Powered Suite: Revolutionizing Community Creation The suite introduced by Galaxis in the upcoming period revolutionizes the community creation process. This includes the Galaxis Assistant, a tool that aids creators during the ideation and generation process, offering insights and suggestions to enhance projects and make creativity more accessible and efficient. The assistant also supports creators in designing their membership systems, assisting with determining card benefits, quantities, and more for a seamless operational process. Additionally, the suite incorporates an advanced image generation tool powered by GPT-4o and other models, allowing creators to produce high-quality images and art for their membership cards, thus democratizing the creative process. "We are excited to introduce our AI-powered suite, which underscores our commitment to supporting and empowering creators," said Andras, CEO of Galaxis. "By integrating advanced AI tools, we are not only streamlining the community creation process but also providing creators with the capabilities to produce exceptional work. Our goal is to ensure that every creator can thrive in the Web3 space." Please follow the official Galaxis channels for more updates about the AI-powered suite and how it can enhance your creative process. How It Works The AI-powered suite offers a simplistic yet powerful approach to community creation: It all starts with a chat interface where creators describe their envisioned community. The suite generates assets like logos and other design materials based on the input. Automatically, the community page is populated with relevant content. The logic behind the membership cards, such as benefits, is generated and set. Creators can keep interacting with the assistant to change all the variables, ensuring everything aligns with their vision. Once satisfied, creators simply publish their page and membership collection, making it accessible to their community. Galaxis is committed to improving the creator experience, providing customized guidance to meet each creator's unique needs, all integrated into the platform. It ensures every creator can maximize their potential and achieve their goals. The platform stays ahead of industry trends, constantly developing and integrating advanced AI tools, all accessible and controlled through natural language, making it highly accessible. About Galaxis Galaxis is a pioneering platform dedicated to supporting creators in the Web3 space. Known for its innovative tools and partnerships with high-profile figures such as Mike Tyson, Steve Aoki, and the NBA, Galaxis offers a comprehensive suite of resources designed to empower creators and foster community engagement. With a track record of significant success, including over 64,000 ETH traded in secondary markets and over $9 million USD raised through Galaxis Engines, the platform continues to lead the way in the creator movement. Twitter | Discord

Memecoin Madness: Eddie Seal Team Insults Investors and Returns Money from Presale

By Press Release • 17 May, 2024
Two weeks ago, the Eddie Seal memecoin project ($EDSE) began raising funds for development through a presale event. On Wednesday, a controversial post appeared on the project's Twitter, where the team labeled the presale investors as 'morons’.  "You morons. You invest in a presale of a new memecoin and then cry when someone runs off with the money. Get a grip and be careful because 99% of presales are scams. We have returned all the payments to the wallets from which they were sent. Eddie will proceed without a presale!" reads the tweet from Eddie Seal profile . This incident is quite unusual, given market norms. Memecoins are not financial instruments, hence funds raised through presales are not regulated in any way. It is unprecedented for a project team to refund all investments made by individuals. The refund might have been an attempt by the Eddie Seal team to build credibility within the crypto community, especially as Eddie Seal has announced six marketing rounds aimed at reaching a $1 billion marketcap. The campaign will culminate in an Eddie Seal cartoon, in the style of Rick and Morty or Family Guy. The six marketing rounds include sponsoring a Formula 1 team, a Harry Styles (or another top tier star) concert at Wembley with tickets for $1EDSE, a ‘spending money competition’ with 10,000 credit cards linked to one account, and a $3 million donation to MrBeast for spending in one of his videos. It was also announced that the team plans to distribute part of the $EDSE tokens to the community gathered around the project in the form of an AirDrop. Sign-ups are expected to start soon. The price of the $EDSE token in the coming days will reveal how the market has reacted. The token contract address for price tracking is available at eddieseal.org or listed here: 2Zvo6bnwJtyXhsPgbcfajTrEtB7NwrJhK8mMmtEXvHHc X (Twitter) | Telegram | Instagram
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