How one project is tipping the scales in favour of true mass crypto adoption
Since Bitcoin launched in 2009, believers in the decentralised monetary system believed that cryptocurrency would eventually replace or at least co-exist with today’s existing currencies. Twelve years later, only 4% of the global population owns crypto, and its use case as a method of payment is diminishing. In contrast, with the rise of mobile gaming, up to 40% of the world’s population could be considered at least casual gamers. In 2020, the gaming industry generated over 170 billion USD in revenue — double the revenue of the music and film industries combined.
This is where the JEDSTAR team comes in. JEDSTAR seeks to revolutionise DeFi and GameFi in fervent pursuit of mass crypto adoption.
While crypto mass adoption is difficult to achieve via traditional financial paths, the online gaming sector, with its technologically-savvy demographic, offers crypto a wider and more amenable path. Simply put, JEDSTAR believes that online gamers would be more willing to adopt cryptocurrency as compared to the general population — especially if it is an integral part of the games that they’re playing.
Their team believes that gaming, GameFi, and in particular $KRED (the JEDSTAR DECO’s GameFi token), will be the tipping point for mass crypto adoption.
There are four key characteristics that differentiate $KRED from other DECOs (decentralized ecosystems) available now:
1. Currency: $KRED is a platform agnostic currency. This means that $KRED will also be available for use as currency in platforms other than JEDSTAR’s NFT marketplace and upcoming games. This enables game studios and developers to leverage blockchain technology in order to provide their gamers with true ownership of their in-game assets.
2. NFT Marketplace: AGORA, JEDSTAR’s NFT marketplace, is powered by $KRED. This will enable gamers to truly own their in-game purchases and assets. This radically transforms the way ownership of game assets is viewed — therefore increasing the value of those assets.
3. Giving back to the community: Unlike other gaming studios, JEDSTAR gives back to the backbone of their community: the gamers and content creators/artists. All in-game assets are truly owned by gamers. This means that they have the option of porting their assets out of the game or even out of the platform. Content creators and artists will receive royalties each time a created asset of theirs sells.
4. JEDSTAR DECO: $KRED is part of a three-token DECO that will educate and enable gamers and artists to have better access to financial services without any centralised intermediaries or high buy-in. This will enable them to not only earn income through GameFi and DeFi, but also take control of the narrative of JEDSTAR games and lore through their governance token.
On their vision, Josh Gier, JEDSTAR’s CEO, highlights, “We believe that similar to what blockchain is trying to achieve with the financial system, it is time that we empower the people that are the backbone of the industry, in this case the gamers and artists. It is only through decentralization that we will be able to take back what gaming studios felt entitled to, and provide true ownership and income opportunities to those who have been really fuelling the gaming industry. We believe that, unlike the financial industry, radical change and mass adoption is possible through gaming, and we strive every day to develop products, services, as well as educate our communities, to make this vision a reality.”
JEDSTAR is a three-token Decentralised Ecosystem (DECO), that launched their first token, $JED, in August 2021. They will be launching their second token, $KRED, and their NFT Marketplace AGORA by the end of 2021. Two blockchain games, an online digital collectible card game and an MMORPG, are due on their metaverse in 2022.
Get to know about JEDSTAR and their team at www.jedstar.app