Aug 15, 2022
🎮The Democratization of Esports in Web3🎮
The idea of democratizing Esports, giving easy access to gaming liquidity, started a year ago, give or take it. The problem was Esports players relied upon different sources rather than their skill to monetize the time playing matches against other players.
We had a clear idea of what we were solving, but Esports nowadays is more than just players. It’s a universe in which the main actors are players, content creators, and game developers across different technologies and platforms.
Listening to community members, players, and content creators gave us a clear picture of the roadmap and design of a product tailored to their needs and solutions to current problems.
🎮Play-to-Earn & Sustainability
For us, Esports is players competing against each other to win valuable rewards. Play-to-Earn, Skill-to-Earn, or Play & Earn are the same concept but different words and economies.
The idea behind playing and winning income from video games is not new, but with web3, things got a bit mixed up because of the harmful game economies that lead to sustainability issues. Instead of creating new economies and inventing the wheel, VXG uses the traditional Esports model, which uses a stable medium of exchange and applies it to the web3 P2E economy.
With a proven layer of skill monetization, we can start thinking about in-game harmless economies that create value for games and players.
Token rewards should create continuous value and not be a reward to swap into other assets such as stable coins or other currencies, creating liquidity death spirals.
VXG is the stable layer of skill monetization in the web3 space. Players only need a dollar and a controller.
📷Content Creators & Blockchain Games
Liquidity death spiral. A usual sentence in web3 P2E games but uncommon to Esports or traditional games. The simple reason is the currency used to monetize gaming skills.
What does that reason have to do with Content Creators?
They are the number one source of traffic for gaming enthusiasts by sharing their experience playing XYZ games through streaming platforms, and if the game has an unsustainable economy, not only their reputation will be damaged but also their community.
That’s where VXG steps in.
Since we will let game developers integrate their creations into our platform, we will verify the games to acknowledge that the ecosystem is secure. Imagine the due diligence that play and app stores do to their apps, promoting a safe environment.
Another feature we are cooking is the gaming pools for content creators to interact with their community offering a new level of interaction with auctions and donations.
We have seen how content creators reach out to their communities, and their effort is consumed with donation fees up to 40% by the streaming platforms. With VXG Gaming pools, the Content Creator gets stable rewards from the gaming pool fees, and the donation fees are less than 10%.
💻Game Developers & Gaming Hub
The trend of web3 P2E games is to run out of liquidity and consequently the game loses all the traction. Building a sustainable economy isn’t easy, and it can ruin a project. By letting Game Developers build games and implement them in VXG, we allow players to have a stable income, and Game Devs can focus on improving their game instead of the economy while earning from it.
The monetization layer is in VXG.
VXG has a public API devs can consume to start earning from their creations.
🌐Conclusion
Our goal of creating a platform that enables players to monetize skills playing video games is almost ready to be live on the mainnet. The ecosystem as a whole is still in the early stage but the foundation work to scale into other areas is almost complete.
Keep enjoying our P2E campaigns before we announce the mainnet launch.
Create, implement, compete, earn and have fun!
Thank you All,
VXG
