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Satoshi’s Games has introduced the Elixir Marketplace, an NFT (Nonfungible Token) marketplace for games that allows players to earn rewards based on the Bitcoin cryptocurrency. The platform will be part of a larger publishing platform that will allow blockchain game manufacturers to create incentives to play.
The Elixir Marketplace is now online for people to swap items from Satoshi’s Games’ upcoming 3D cartoon style, Light Nite, said Carlos Roldan, founder of the Alicante, Spain-based company, in an email to GamesBeat . This is all part of the trend towards the leisure economy where we could one day make money playing games.
Roldan said the idea behind the company a few years ago was to provide instant liquid “micro-rewards” that sparked the creation of the first platform.
How it works
NFTs use the secure and transparent general ledger of the blockchain to uniquely identify digital elements, which can make them more valuable. Game companies are looking at NFTs as a new way to make money and give players the advantage of being able to own and buy or sell the items directly.
In other words, players can be paid to play. In Light Nite, Bitcoin microtransactions bring a new level of interaction, as players can earn Bitcoin instantly when shooting at opponents and withdraw funds at any time, the company said. All of the items in the game have real value that players can give away or trade in so that, according to Satoshi’s Games, they can feel in control of their gaming world.
Photo credit: Satoshi’s Games
The marketplace leverages the technology of the Liquid Sidechain, a settlement network for traders and exchanges that enables faster, more confidential Bitcoin transactions and the issuance of digital assets. It also uses the Lightning Network, a Layer 2 protocol that can work faster and offer two-way payments, so players can bring money in and out of a network. This enables easier trading such as B. a hard currency in a free game.
It also uses the InterPlanetary File System (IPFS) to store images on a peer-to-peer network. It also uses Lightning Service Authentication Tokens (LSATs), which can be used to track a verifiable record of ownership of an asset, as well as co-ownership and other verifiable authenticated events. This helps Satoshi’s games reproduce the behavior of NFTs and crypto collectibles through Bitcoin, Roldan said.
“We say we are replicating the behavior of NFT standards because we can provide traceability, authenticated co-ownership, verifiable exchanges, and add other features like visual media protection related to the Liquid Issue Contract,” said Roldan.
Bringing all of these services together is necessary to make it easier to trade items in the Bitcoin cryptocurrency, which has seen a surge in value and prevailed. Others that create such marketplaces are Sandbox, Immutable X, and Mythical Games.
“The choice of Bitcoin is strong,” said Roldan. “It is now and in our opinion it will ever be the safest, most liquid and most widely used cryptocurrency. And considering that the Layer 2 Lightning Network is more scalable than Ethereum and is perfectly suited for micro-rewards due to its instant and near-zero-cost properties. No other platform offers these essential functions. “
Roldan said he considers Elixir to be the first Bitcoin-based NFT as all others are based on Ethereum or other blockchains.
“Lightning was born around that time, offering the ability to conduct one-millionth of a dollar transactions instantly and at near zero cost,” he said. “This enabled a new level of interaction and confidence between the players and the studio. Loyalty programs have long been around in both games and many other industries. “
He added, “We have only replaced soft currencies with very small fractions of real bitcoin to compensate users for improving their skills in the game. Then ear tag skins (NFTs) came to the bitcoin blockchain via Liquid and with them a great way for users to stay in control of their bitcoin economy and easily jump from one game to another by selling and buying skins anytime. Markets based on verifiable deliveries are thus creating more trust in users and mobility rockets. “
Light Nite is a reward based game
Photo credit: Satoshi’s Games
Roldan said the Light Nite game has approximately 3,500 people who pre-ordered the game. There are currently around 1,300 active users per month in a pre-alpha version of the game, and these players asked the company to trade the in-game gear they bartered from the third-person shooter Battle Royale.
“The NFTs in our titles aren’t just collectibles,” said Roldan. “We want our players to have more control and ownership over their in-game items and still be able to use them digitally
Satoshi’s Games’ Light Nite allows players to collect Bitcoin the better they are at the game. You can also get in-game equipment that has been marked with Liquid. NFTs can be earned by playing, buying, or trading on the Elixir Marketplace. Users can also withdraw NFTs into their own wallets if they prefer to keep them.
A publishing platform for other developers
Photo credit: Satoshi’s Games
The Elixir Marketplace will eventually become part of Satoshi’s Games’ larger Elixir publishing platform due later this year. The platform enables any developer to publish games with features such as Bitcoin Micro-Rewards and Asset Tokenization. These functions have already been implemented in Light Nite, so fans of the title already have access to the marketplace.
Developers who upload their games to the Elixir platform will choose whether to offer satellite micro-rewards, asset tokenization, or both, Roldan said.
Satoshi’s Games has 15 people and it raised $ 1 million. The company was founded in 2018.
“With the release of Elixir, many developers will immediately understand the benefits of a new economic model that is natively built on the future mainstream digital currency and that gives users much greater levels of freedom and mobility,” said Roldan.
Regarding access to a mass market for blockchain games, Roldan said, “Many quality studios are already realizing that there are new ways to attract and retain users at a lower cost. Players are demanding more freedom, more confidence, and more open rewards. With Elixir, studios can offer all of this to their users with greater profitability. So it will not be the technology itself (quite transparent to most users), but the convenience that will drive the mass market into this trend. “
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