In 2017, the gaming world was revolutionized by the massive success of a simple blockchain game called CryptoKitties. It enabled players to breed and trade unique digital cats via a series of smart contracts on the Ethereum blockchain. That simple concept led to a game that now boasts millions of dollars’ worth of user transactions, spawned a blockchain company that attracted serious venture capital investment, and garnered near-constant media coverage for months after launch.
It also showcased blockchain gaming as a force to be reckoned with in the future gaming space. But in the years since, developers have had a hard time building on the early success. Part of the problem has been a lack of a viable financial model to support long-term blockchain game development. And that’s exactly what Team3D aims to create with the recent announcement of the public listing of their new VIDYA cryptocurrency.
What is VIDYA?
VIDYA is the opening move in Team3D’s broader campaign to create a thriving new blockchain gaming ecosystem. The goal is to use VIDYA to accomplish several vital tasks to further that effort. First, it will serve as a cross-game currency and inventory system that will enable developers to build multiple linked games that feature item sharing and other cross-connected gameplay mechanics. It will also serve as a bolt-on escrow system that developers can use to create wager-based game lobbies for their player-versus-player and multiplayer games.
But most importantly, VIDYA is to serve as a funding mechanism to provide game creators with the financial support necessary to do the kind of long-term development that will result in revolutionary new blockchain gaming concepts. To begin, 30% of the total minted VIDYA will remain reserved for game development costs, which will provide seed funding for several games, at least one of which is already in the late stages of development. But the long-term funding will come from small staking fees assessed upon the successful completion of any VIDYA-connected game match. That means that players of each new game will become the financial fuel for others in the ecosystem.
Who is Team3D?
To understand how the idea for VIDYA came to be, it’s important to understand who its creators, Team3D, are. They’re a Toronto, Canada-based group of digital artists, game developers, and blockchain programmers who have been building dApps on the Ethereum blockchain for almost as long as it has been publicly available. Between them, they already have a plethora of decentralized games and tools to their credit, including notable dApp titles like TronGoo, TronFarms, and 0x60.
They’ve also experienced firsthand what it’s like to try and develop groundbreaking blockchain-ready games for serious gamers. What they encountered was a blockchain gaming environment that’s set up to reward simple revenue-generating games rather than fostering innovation and experimentation that blends tokenomics with engaging gameplay elements. It was an ecosystem that incentivized developers to create safe, carbon-copy games in the shortest possible time.
And that’s where the idea for the new VIDYA ecosystem had its genesis. According to a Team3D representative, the whole point of VIDYA is “To sustain an economy built for real games that have been in development for over two years, that touch on different aspects of tokenomics that we have seen so much of lately, such as deflationary and proof-of-liquidity models.” In other words, it aims to turn the traditional blockchain gaming financial model on its head – and to give developers what they need to build games that serious gamers will love, instead of building mass-market carbon copies of earlier games.
What to Expect from Team3D and VIDYA
The public sale of VIDYA began on August 22nd, but that’s not the end of the story. It’s only the beginning. That’s because Team3D is already hard at work building out the other elements of their platform to turn their blockchain game ecosystem concept into a reality. They’re already knee-deep into the development of VIDYA’s cross-game inventory and equipment system as well as its staking mechanism.
The inventory system will be a game-changer because it will allow players true ownership of in-game purchased items. Unlike traditional in-game purchases which may be modified or discontinued by publishers at any time, items in the VIDYA system are immutable. That means they will form the basis for a viable secondary market where gamers can buy and sell the items they’ve acquired as often as they choose. And the system won’t be under the control of a publisher, giving the player total control over their assets.
Owners can also opt to invest their VIDYA in the platform’s liquidity staking system, known as Generator. It offers investors the chance to earn additional VIDYA by contributing to the currency’s liquidity. In exchange for their stake, participants will receive a daily percentage of the system’s earnings from its varied operations. It’s a risk-free way to become a supporter of the concept while earning a tidy sum.
Team3D is also about to begin testing on a blockchain-connected FPS game concept that will represent a major gaming breakthrough and a milestone in blockchain game development. If all goes well, Team3D expects to launch a completed VIDYA-connected game within the fourth quarter of 2020. It will function both as a proof-of-concept as well as a symbol of their ongoing commitment to keep innovating in the space for the long term.
And at the same time, they’ll be bringing all of these developments together into a central management platform, known as TeamOS. It will give all stakeholders, be they VIDYA holders, game item owners, or even participating 3rd-party developers a single location to manage all of their VIDYA assets. It will be the culmination of the many development threads covered here, and a living symbol of the breadth and depth of the VIDYA concept as a whole.
How to Learn More about VIDYA
Since the ongoing development of the VIDYA ecosystem is still a work-in-progress, there’s bound to be even more developments coming from Team3D in the coming months. And as passionate gamers and developers, they’re more than happy to discuss their future plans and progress with anyone who’s curious about them. Team members are always easy to find via their official Telegram account and their Discord channel.
And of course, the Team3D website will be updated frequently as development work progresses on VIDYA and its connected projects. Also, the site is going to serve as a hub for the upcoming VIDYA cross-game inventory system as well as for all of the games that will eventually become a part of the platform. So, remember to check out the site as frequently as possible to stay up to date on all things VIDYA as the work continues – and to witness the birth of a new era of cutting-edge blockchain gaming, unlike anything that’s come before it.
This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Purchase Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH here.
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.