Along with their innovative mining concept, their NFT marketplace could revolutionize gaming assets exchange for the future.
Ulti Arena Has a Proposition
What if cryptocurrency can be earned while doing something enjoyable that isn’t even blockchain related?
Ulti Arena is introducing a new mining concept called Proof-of-Gaming. Simply put, you earn cryptocurrency by playing your favorite non-blockchain games like DOTA2, CS:GO, League of Legends, and other titles.
There are a tremendous amount of benefits from this concept. No energy wasted on mining through Proof-of-Work. No coins to be staked through Proof-of-Stake.
Ulti Arena has entered into a partnership with Pragmatic Coders, a top Decentralized Finance (DeFi) and blockchain development company, in order to underpin the technology that drives its Non-Fungible Token marketplace and proof-of-gaming concept.
Gaming and Blockchain Technology
The past five years have witnessed the beginning of a revolution in the gaming arena. After the mid-year’s crypto price fluctuations, crypto gaming still stands firm with millions of users embracing its success. With the pandemic encouraging more people to stay at home, Ethereum broke past $4,000, and Axie Infinity has seen massive price growth in the previous months. It proved again that the future of gaming smells like blockchain.
Whatever the momentary turbulences, digital currencies have gained significant leverage in the world of gaming. For many gamers, they are no longer just entertainment – they have become a multimillion-dollar industry. Yet this has not come out of nowhere; there are a series of DeFi concepts that have supported the rise of GameFi projects in recent times.
Ulti Arena is a new player that provides gamers with the ultimate opportunity to earn the project’s own cryptocurrency: $ULTI. The rules are simple: the more hours you play and the better you are in gaming, the more you earn.
An ULTI Game Client will be developed and will serve 2 purposes: (1) analyze player’s behaviors and actions to recommend and summarize gameplay reporting, and (2) the game time serve as a Proof-of-Gaming where the more and better the gamer plays, the higher probability that they will earn ULTI tokens.
Additionally, tournaments will be held in the Proof-of-Gaming platform where Gamers will be able to connect to different non-blockchain games to organize tournaments. The prize pools will consist of ULTI tokens put forward by the community and tournament participants.
The First NFT Marketplace Exclusive For Gaming Assets
For users unfamiliar with the concept of NFTs, BSC News has provided an extensive definition of NFTs in a previous Cryptonomics article.
According to a report by Reuters, NFT sales volume surged to $2.5 billion in the first six months of 2021 — a nearly 200-fold increase from the first half of 2020. To date, the all-time highest valued NFT sale made is Beeple’s Everydays: The First 5000 Days which was sold for a whopping 69.3 million USD. Everyday more people are joining the NFT craze.
While in other NFT marketplaces everyone from all walks of life can mint their NFT no matter what kind, Ulti Arena is launching their NFT Marketplace exclusively for game studios and game artists. All NFTs on the marketplace are gaming assets, including 2D/3D assets, music, sound, and UI/HUD elements. Ulti Arena has multiple verification stages before a creator can mint their assets in the Marketplace.
Ulti Arena’s NFT Marketplace will enable buying and selling of gaming assets among and between game studios, developers and creators. Through blockchain technology, now even the game players can be the true owners of the game assets. Up until now, if you bought something from the game store, it still technically belongs to the studio or developer that made that game. With NFTs, now a gamer can truly own a piece of that game – directly from the game artist!
NFTs live in the blockchain itself. They can’t be changed or altered. So even if the game shuts down or ceases to exist, the assets will live on forever in the blockchain.
Given the perspective, gamers can easily see the great possibilities in crypto gaming and hop on the idea of Proof-of-Gaming. The arena is open to newcomers and is so different from traditional games. For the savviest gamers, it can even prove lucrative. Despite rapid development and frequent surprises, new platforms and games are embracing the power of crypto. In its short and intense period of existence, the niche of crypto gaming has often left its enthusiasts out of breath. The world of crypto has not shown its full landscape and constantly leaves us striving for more.
In all of the craze of gaming and its growing revenue, there are core players of this industry: makers, artists, and game developers. These are the people that drive innovation. Their earnings and ways to showcase their works should be prioritized above all else. With this in mind, we want to create a thriving community in Ulti Arena.
To learn more about Ulti Arena, visit the following links:
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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