June 22, 2023
By Anjali Kochhar
The global blockchain gaming market is estimated to grow 70.3 per cent (CAGR) in the next five years, according to a report by MarketsAndMarkets. The 155-page report suggested that by 2027, this industry is likely to be valued at USD 65.7 billion as opposed to USD 4.6 billion in 2022.
At this crucial time, Richard McLaren, co-CEO of Polemos believes that adding elements of real ownership to games will make them more engaging leading to innovation that we can’t fully imagine yet.
In an exclusive interview with NFTMetta.com, Mclaren said, “We believe this will become a common element in games over the next five to ten years. Blockchain is interesting as one technology for this, but is not interesting in its own right in games – it’s something that can be used to make a great game, or misused to make a bad one. The point for us is that ownership changes the game (pun intended) similarly to the addition of multi-player and community aspects to games over the last 10-20 years.”
While the outlook is positive, the growth of blockchain gaming may be hindered by one major factor: a lack of awareness among the masses.
On this McLaren said, “Some of the drivers of adoption are knowledge, familiarity, trust and comfort; education is about making information on ownership in games readily available so more players feel comfortable with these aspects of gameplay sooner. It’s about acceleration, rather than persuasion.”
Very recently, Polemos has launched “The Armory,” the world’s first independent blockchain game platform for collateral-free and deposit-free digital asset rental. This platform aims to revolutionize the gaming industry by offering low-cost digital asset renting without the need for deposits or providing mere copies of items.
Unlike other platforms, “The Armory” allows borrowers to access the actual asset during the rental period, providing a unique experience for players. The platform is integrated into Polemos’ Forge and is chain-agnostic, enabling it to operate across various blockchains in the future. Initially, it will support Polygon PoS, with Galaxy Fight Club being showcased first. Support for other Polygon PoS games like Apeiron, Deadrop, and more is currently in development.
In addition to Polygon PoS, “The Armory” plans to add support for other chains and games, including IMX/Immutable (Illuvium, Blocklords, Guild of Guardians), Solana (Monkey League, Star Atlas, The Harvest), Avalanche (Shrapnel), and Ton. However, the co-CEO told in the interview that they are taking things slow for now and will stick with Polygon at least for a year.
Asked about the need for the development of such a platform in today’s age, McLaren said, “We believe that making access to game assets easy and affordable, even if just for a day or so, players can try before they buy and get comfortable with how a given item will work in-game.”
“We think this is a positive way to expose players new and experienced alike to ownership. For players with lots of game items, the Armory is a good way to share them with the community in a safe way and to be rewarded by other players for doing so. It is a sustainable way for players to benefit from the value they provide to others,” he added.
One of the notable features of the platform is that it is powered by custom-developed technology from Guardian Labs, which will be available as a white-labelled service to game developers. By sitting outside the game’s environment on the blockchain, “The Armory” is not only game-agnostic but also provides opportunities for interaction and participation for players without requiring integration by the games themselves.
To ensure the security of game assets, the technology has undergone a rigorous audit by blockchain security expert Halborn. This audit assures game asset holders that their lent items will be protected from unauthorized in-game actions and transfers and will be returned without any impairment.
The introduction of this lending system brings several unique benefits. Asset owners can leverage and earn money from dormant items, while players can try items without the need to invest significant time and money to own them outright.
Furthermore, players can retain all rewards earned through the usage of borrowed items.
“The Armory” offers additional features such as access to actual game NFTs in a bona fide account, compatibility with all Polygon PoS games without integration requirements, a Polemos-protected wallet for storing borrowed items and transferring personal items, collateral-free lending independent of the game with a small fee per item, and low-cost borrowing ranging from a few cents to a dollar depending on the asset borrowed.
This new lending system launch complements Polemos’ existing platform offerings, which include the comprehensive blockchain news and features service called “Pharos” and an integrated education and skills development offering called the “University.”
McLaren, formerly the head of tech and data managing director at Ninemsn, an Australia-based entertainment company, has recently joined Polemos as co-CEO, based in Australia.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.