After the advent of crypto gaming becoming a prolific hit in 2021 with the likes of Axie Infinity (AXS) and The Sandbox (SAND), it’s rational to understand why many analysts are forecasting gaming (or GameFi) to continue to be a sector of momentum rolling into 2024.
The adoption of blockchain gaming to date, however, has created more questions than answers. In most cases, the user experience in crypto gaming is clunky and too advanced for the average person, and the gap in technical sophistication is noticeable when compared to the current gaming experiences offered by mainstream gaming studios.
Enter Merit Circle DAO’s platform, the Beam network.
Beam Hub – https://hub.onbeam.com/games
Building for the players
Beam Network looks to solve the challenges faced in blockchain gaming by simplifying the complexities in game development and enhancing the user experience.
The Beam Ecosystem can be broken down into the following components:
- BeamOS: The gateway into Beam suite of products.
- Beam Swap: Beam’s official decentralised exchange to swap tokens.
- Beam Bridge: Enabling the movement of assets between Beam mainnet and other blockchains.
- Beam Hub: access to over 150 ready to play games
- Sphere: Beam’s NFT marketplace
- Beam Companion App: manage gaming assets and collectables on a companion mobile app.
BeamOS – https://onbeam.com
Token Function
To use the Beam network, you need BEAM tokens, its native cryptocurrency. There are two ways in which network fees are managed when BEAM tokens are used in a transaction.
- First, a part of these fees goes to the validators, the users responsible for maintaining the network’s security and functionality.
- Second, the rest of the BEAM tokens from the fees are burned, meaning they are permanently taken out of market circulation. This action creates a deflationary effect on the tokens.
The BEAM token is also required for network governance in the Merit Circle DAO, allowing holders to participate in shaping future updates to the project.
Partnerships
Beam was in the news headlines recently when it announced a partnership with Immutable X, arguably the most established brand in crypto gaming and Polygon, a well-known blockchain scaling network.
For Beam, partnering with these major networks means further interoperability of their blockchain with Polygon’s scalable networks and Immutable X’s unique infrastructure solutions, specifically around NFTs.
These collaborations will likely enhance performance and accessibility and foster growth and innovation in the Beam ecosystem. They also legitimise Beam as a major player in the crypto gaming sector.
Beam (BEAM) is now listed for trading on Swyftx.
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