Core:

• For users, transactions on REI Network are fast, cheap, and secure.
• A simple and universal language for developers, easy access to the blockchain world for the traditional gaming industry, compatibility with EVM, and ease of migration to other public chain projects.
• For new projects, there are incentive grants.

Blockchain gaming is not a new concept, as the release of CryptoKitties in 2017 once made the concept of blockchain gaming widely known and was a significant source of congestion on the Ethereum network at the time, with CryptoKitties accounting for 25% of Ethereum network traffic at its peak.

In 2021, with the explosion of Axie Infinity, blockchain games are back in the public eye, combining the concept of metaverse, P2E gameplay, faster and cheaper infrastructure, and are developing faster and more mature than 1.0 chains such as CryptoKitties. In this article, we will take you through why REI Network needs GameFi, what are the advantages of developing Gamefi on REI Network, and how will REI Network change GameFi?

The GameFi Market With Unlimited Potential

According to a report by NewZoo, a specialist gaming analysis website, gaming has become one of the fastest-growing media segments, with the global gaming market expected to grow from $160 billion in 2020 to $200 billion by 2023.

Furthermore, according to its research, 74% of total game revenue in 2020 is generated through in-game transactions, indicating that players are generally willing to buy in-game props.

However, in traditional games, in-game items do not fully belong to the owner, and the purchase of in-game items by the user can be considered a form of ‘rental’. Because these items are locked into the game, the real ownership of the items is in the hands of the publisher, who determines their properties, use, availability, and price. Traditional games are developed on a centralized platform and if the game is stopped or closed, the in-game props will no longer exist and the props themselves can only be used for a specific game.

The development of blockchain games can ensure that when in-game items become the digital assets of the holder, the ownership of the item is truly in the hands of the player, and the P2E model can even generate income for the player, rewarding the player for participating in the game by allowing the game props to be traded freely and turned into real-world fiat money at any time, anywhere, furthering the positive cycle of the game and continuously increasing the flow of players.

According to dappradar data, the total number of games included is now over a thousand, with Axie Infinity alone having 800,000+ users in the last thirty days, over 10 million transactions and a total transaction volume of $2 billion. Although it is still only the tip of the iceberg compared to the traditional gaming market share, the speed of development cannot be underestimated, especially as the huge benefit effect is accelerating the influx of more traffic.

Why is REI Network suitable for GameFi developers?

The 2017 CryptoKitties boom clogged up the Ethereum network, which also reduced the user experience of CryptoKitties due to the Ethereum network’s inefficiencies, and eventually fell out of favor with users.

In 2021, the maturity of new public chains and layer 2 networks has allowed the blockchain game to progress much further. Axie Infinity is using a build an Ethereum sidechain, Ronin, and Alien Worlds has chosen to develop on a new public chain, BSC/WAX, with a PoS consensus mechanism that reduces transaction fees and increases transaction speed. REI Network is also A new public chain with a PoS consensus mechanism, which is faster while ensuring the security of transactions. In addition, compared to public chains such as BSC/WAX, users on REI Network can pledge their REI passes through Staking to obtain on-chain computing resources with little to no fees, which is a huge advantage for high-frequency transactions such as gaming

If P2E’s GameFi has driven the development of blockchain gaming, then bringing in more mainstream gaming communities will be the next major task for blockchain gaming. p2E’s Gamefi has expanded the potential market with an innovative game revenue-generating ecosystem to inspire players and bring more players into the crypto ecosystem (who were not interested in crypto in the first place). But right now Gamefi leaves a lot to be desired in terms of playability, game experience, and game setup compared to traditional games.

REI Network uses the typescript language, which is more friendly to traditional game developers so that any programmer with development experience can quickly pick up the typescript language and develop Gamefi on the chain. REI Network is not only active in bringing in reputable GameFi, but is also actively communicating with traditional game studios to bring in more traditional games on REI Network. It would also be a huge innovation for the gaming industry.

Developers often spend months or even years creating and releasing a game and need to invest a lot of money between development and marketing. REI Network will allocate hundreds of millions of dollars in eco-incentives for the development of new games and projects, reducing the financial pressure on game developers.

What’s Different About REI Network For Players?

REI Network is more secure than sidechains, putting users in control of their on-chain assets and eliminating the need for high cross-chain fees. The efficient on-chain speed allows players to complete transactions almost instantly, similar to the traditional gaming experience, in addition to significantly lower fees, and the design of pledging for on-chain computing resources allows for lower fees than many new public chains.

EVM compatibility and cross-chain relays allow REI Network to be interoperable with other on-chain ecosystems, allowing users to be more effective than just a single game/single use case.

Conclusion

The REI Network goes live in December 2021 and more eco-projects are in the pipeline. If you are interested in participating in the REI Network, please contact us!

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GXChain 2.0 is an EVM-compatible public blockchain. As an Ethereum para chain, it owns the features of lightweight, free and dev-friendly. GXChain 2.0 is to effectively solve the current high cost and low-efficiency problems of public chains. Therefore, GXChain can achieve free, low-cost development, and rapid migration of applications, and can be shared and symbiotic with the EVM ecosystem, also supporting the development of Defi, GameFi, and NFT.

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