Why Decentralized Gaming is the Future – Yahoo Finance

There is a sizable overlap between the blockchain community and the gaming community. Tech-savvy people who are fascinated with blockchain also tend to be people interested in gaming and actively partake in it. This has been seen with the popularity of NFTs in the gaming sector, with many rare and valuable NFTs being traded within games.
So far, one frontier that has not been fully explored up until now was decentralized gaming i.e games built and operated entirely on decentralized technology. Recent efforts seem to correct this, including the launch of Ulti Arena, a marketplace specifically for trading gaming assets with a view to blockchain technology.
Ulti is rolling out some amazing new products, including an NFT marketplace for gamers and developers, a proof-of-gaming consensus, and a crypto trading card game.
How Ulti Works
Ulti is a platform that is seeking to help gamers, artists, and developers better monetize their offerings through its marketplace and innovative features. It is the first NFT Marketplace for Game Assets built on Binance Smart Chain and prioritizes the ability to track digital asset usage on a blockchain network. First, it allows for the tokenization and trading of in-game assets. Assets such as skins, tools, and even characters have been traded within and outside of the gaming world for years but with Ulti’s marketplace, these assets can be securely traded with proper, irrefutable records of transfers of ownership, as well as increased revenue for the developers and artists behind the assets.
Some of the offerings to be put up for sale include unique 2D/3D assets, music, sound, and UI/HUD elements.
As for the games that are not based on blockchain, Ulti will be launching a proof-of-gaming/Play2Earn program, including some of the biggest games in the industry like Dota 2 and LOL. This method has been praised for being much more sustainable and eco-friendly compared to current mechanisms like the proof-of-work used on blockchains like Bitcoin.
It taps into the financial aspect of blockchain in that developers can create NFT versions of their creations and then make a living from selling them. This also benefits fans who will have access to exclusive digital assets that cannot be found anywhere else, reproduced, or owned by anyone else.
30% of the revenue generated through platform fees will be used buyback and then burn the platform’s native ULTI token in order to manage its supply. The token can be purchased directly through its incoming sale on Pancake Swap which begins from September 12, 2021, or can be ‘mined’ by playing games. The Proof-of-Gaming concept used for the creation of ULTI tokens means that the more users play the games, the more tokens they will receive.
The mining of tokens through gameplay is called proof-of-gaming and is a revolutionary way to benefit games and the crypto industry simultaneously. Players are encouraged to interact with games within the ecosystem for the opportunity to earn rewards, thus benefiting both the people who designed the games and the gamers themselves.
Ulti has also put measures in place to make sure that the game is as deflationary as possible. First, there is a 6% tax on all transactions and this amount charged is distributed in the following ways. The first third of the 6% tax (2%) is distributed back to all token holders. This highlights another benefit of holding the ULTI token which is that users can earn even more tokens simply by HODLing.
Another 2% of the token tax burned instantly to keep the supply low and the price of the token high. The final 2% is put away in a liquidity pool that helps sustain the ecosystem in the long term.
Ulti also has plans to launch its own crypto trading card game, effectively combining blockchain and gaming, which is at the core of its operations, in development with Remote Control Productions and Frag Games. All these will follow its September 12, 2021, PancakeSwap sale.
Blockchain and Gaming
Blockchain technology is on track to revolutionize the gaming world, especially when it comes to the monetization of assets. Just like it did with the world of art, NFTs will allow for in-game assets and features to be bought by fans who are passionate about them and will help foster a mutually beneficial relationship between them and the developers of the games.
With platforms like Ulti leading the way, we can expect to see even more interaction between the two industries moving forward.
See more from Benzinga
Click here for options trades from Benzinga
How Crypto Is Bringing Down the 8 Trillion Real Estate Industry's High Entry Barriers
"Cryptocurrencies are El Dorado for those who know how to use them", Alexander Mamasidikov, MinePlex
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
(Bloomberg) — Mark Zuckerberg’s personal wealth has fallen by more than $6 billion in a few hours, knocking him down a notch on the list of the world’s richest people, after a whistleblower came forward and outages took Facebook Inc.’s flagship products offline.Most Read from BloombergChristmas at Risk as Supply Chain ‘Disaster’ Only Gets WorseReshaped by Crisis, an ‘Anti-Biennial’ Reimagines ChicagoThis Is What Europe’s Green Future Looks LikeWall Street Titans Warn of the Next Big Risks for I
Facebook, WhatsApp and Instagram have all gone down in a major outage. Such problems – especially after they have been ongoing for hours – likely indicates there is a major problem with the technology underpinning Facebook’s services. In 2019, when it suffered from its biggest ever outage, it was more than 24 hours from the beginnings of the problem until Facebook said it was resolved.
The bad news for Facebook (NASDAQ: FB) just keeps getting worse — and Facebook stock is down another 4.4% as of 11 a.m. EDT Monday. By now you're surely familiar with The Wall Street Journal's "The Facebook Files" project, in which Journal reporters gained access to — and exposed — a treasure trove of internal Facebook documents. This morning, the latest shoe dropped when the Journal revealed the identity of its source, Frances Haugen, a former Facebook insider turned whistleblower who spent nearly two years working for Facebook on the company's Civic Integrity Team, which was tasked with figuring out how to stop the "spread [of] political falsehoods, [the stoking of] violence and [the abuse of Facebook] by malicious governments."
Facebook goes down for thousands of users across the globe.
Facebook Inc. services experienced unprecedented outages for more than six hours Monday, adding to the social network's already miserable day.
Facebook experienced widespread outages on Monday that included disruptions for its platforms Instagram and WhatsApp.
Facebook stock dropped Monday, continuing a slide that began with a series of critical articles published by the Wall Street Journal and a "60 minutes" interview.
(Bloomberg) — Facebook Inc. shares dropped to their lowest level since June on Monday after a whistleblower revealed herself for the first time and accused the social media giant of putting “profit over safety” of its users.Most Read from BloombergChristmas at Risk as Supply Chain ‘Disaster’ Only Gets WorseReshaped by Crisis, an ‘Anti-Biennial’ Reimagines ChicagoThis Is What Europe’s Green Future Looks LikeWall Street Titans Warn of the Next Big Risks for InvestorsAn Unapologetic Old Boys’ Netw
How long will Facebook be down? Company says it is aware of issue – but not why it has broken or when it will come back online
Shares of Apple (NASDAQ: AAPL) stock slid 2.8% by 3:30 p.m. EDT trading Monday. Granted, the whole stock market has been having a rather bad day. Calling Apple "the hottest player in gaming," the Journal proceeded to explain how Apple's App Store has been racking up eye-popping operating profit margins on in-game purchases facilitated by its software.
Monday was not a good day for the social media giant
One possible way to read “The Facebook Files,” The Wall Street Journal’s excellent series of reports based on leaked internal Facebook research, is as a story about an unstoppable juggernaut bulldozing society on its way to the bank. The series has exposed damning evidence that Facebook has a two-tier justice system, that it knew Instagram was worsening body-image issues among girls and that it had a bigger vaccine misinformation problem than it let on, among other issues. And it would be easy e
According to TikTok, the menu item was the "most complicated" order for workers to fulfill.
Frances Haugen says that while Facebook claims to try to rid the site of hate speech, the algorithm promotes it in the interest of making money.
Cardano has teamed up with Rival – an eSports and gaming platform – to facilitate, create and distribute NFTs showcasing the sport franchises in Rival’s stable. It’s a significant move for Cardano as it enters an industry with 2.
Facebook Inc. lost money in more ways than one Monday, when the social-networking giant was hit with an unprecedented outage that lasted roughly six hours.
Nearly $50bn (£36.7bn) was wiped off Facebook’s value after its social media platforms went down for several hours due to an apparent technical error.
Twitter has seemed to celebrate as the outage at Facebook, Instagram and WhatsApp has sent people to its app. Others just searched for people to confirm that Facebook and its other apps were in fact down – or for something to take their mind off it. Twitter seemed to enjoy the new attention.
Facebook says it is aware of the ongoing issues with its site and is working to fix them. The Facebook app, as well as Instagram and WhatsApp, have all stopped working in a widespread and major outage. “We’re aware that some people are having trouble accessing our apps and products,” spokesperson Andy Stone said on Twitter.
Facebook, Instagram and WhatsApp at least partially reconnected to the global internet on Monday afternoon, nearly six hours into an outage that paralyzed the social media platform. Facebook and its WhatsApp and Instagram apps went dark at around noon Eastern time (1600 GMT), in what website monitoring group Downdetector said was the largest such failure it had ever seen. Around 5:45 pm ET, some Facebook users began to regain partial access to the three apps.

source