Seedthrift analysis : Pocket Arena
Pocket Arena is a Play-to-Earn based NFT DApp games portal and platform that supports skill-based tournaments and user-generated NFT gaming with an NFT Marketplace. The Pocket Arena (PA) is powered by the Pocket Arena Token “POC”, an ERC 20 utility token, designed to give real rewards to all players and to function as Pocket Arena DApps’ NFT gaming token.
1.SOCIAL ESPORTS PLATFORM FOR EVERYONE
So far, the worldwide eSports gaming market has grown to 3 Billion USD. This market has been developed by certain professional players and by hosting offline events focusing on hardcore games. However, since the Coronavirus pandemic, the trend is changing, and it is transforming into an online-oriented, casual game-oriented social eSports tournament that can be enjoyed on mobile phones by ordinary people.
Pocket Arena is a gaming platform on blockchain technology for tournaments of casual games that can be enjoyed by anyone. It is not confined to pro players and its main feature is also that diverse age groups can enjoy the game in a casual manner and receive appropriate rewards.
Play2Earn is a business model that embraces the concept of an open economy and provides financial benefits to all players who add value by contributing to the game world.
Giving gamers ownership of in-game assets and allowing them to increase their value by actively playing the game are key components of the play2earn business model. By participating in the in-game economy, players are creating value for other players and the developers. In turn they are rewarded with in-game assets. These digital assets can be anything ranging from cryptocurrencies to in-game resources that are tokenized on the blockchain. It is for this reason that the play-to-earn business model complements blockchain games so well. Pocket Arena game players and developers, POC, are rewarded in return for their various activities. Also, by using POC, users can earn participation in assorted events within the PA ecosystem.
3. NFT GAMING PLATFORM AND DLT WALLET
While the global gaming industry continues to grow, it remains structured in a way that it primarily benefits game developers and perpetuates a one-directional flow of value in which players spend money to unlock access to in-game assets. In contrast, blockchain-built games enable players to capture the utility and value of in-game purchases and asset acquisitions more effectively. Blockchain technology in gaming is driven by non-fungible tokens (NFTs), digital assets that represent in-game content. These NFT tokens are unique, rare, and indivisible, while the blockchain networks that underpin NFTs facilitate player ownership and provable scarcity. In the long run, every game company will be forced to participate in NFTs because the attractions are so strong for players.
PA Wallet is a private blockchain based eWallet for PA supported cryptocurrencies including NFTs to store, send and receive the public keys and private keys in a safe and user-friendly way. PA Wallet runs on a Distributed Ledger Technology (DLT) — Hyperledger Fabric node, an open-source distributed ledger technology.
Because all Pocket Arena in-game asset transactions take place within DLT-based PA Wallet, with a single login to PA Wallet, PA users can not only enjoy the various PA games but also secure, fast and gas-free transactions of NFTs within PA Wallet.
Eventually, this PA Wallet based on DLT Hyperledger Fabric will be able to support different kinds of NFTs for interoperability and to interconnect the various NFT games.
PA Wallet uses the Distributed Ledger Technology (DLT), the ever-evolving Hyperledger Fabric technology. Since it is an open source blockchain platform, it has the advantage that there is no fee for use, and because it is a private blockchain, it has the advantage of protecting personal information. Hyperledger Fabric provides distributed ledger technology enterprise-class network security, scalability, confidentiality and performance in a modular blockchain architecture. Among them, the following blockchain functions have been applied to PA Wallet.
Identity management / Personal information protection and confidentiality / Efficient processing / Chaincode smart contract function / Modular design is supported.
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