“Gaming would be the first killer app to take blockchain mainstream.” So says Joshua Galloway, CEO & Founding father of Lepricon, a prediction gaming platform set to launch later this yr.
He could also be proper. There’s explosive progress within the decentralized finance ecosystem, and cryptocurrencies have lengthy surpassed their existence as a method of cost or retailer of worth. Nevertheless, have a dialog with somebody who doesn’t have a Telegram account about staking, liquidity swimming pools, or yield farming, and you might be seemingly to attract clean appears.
Galloway, a 20-year online game business veteran, serial entrepreneur, and former VP at innovation enterprise fund Plutus VC says that it’s the providing of acquainted experiences that can normalize the adoption of blockchain-based purposes. “First, we get them to play the video games. Then, when they’re on the platform, we are able to slowly introduce the DeFi parts that kind the spine of Lepricon,” he explains.
Lepricon gives distinct layers of exercise. On the one hand, it’s a gaming platform specializing initially in hyper-casual prediction video games which are quick and easy to play. Then again, it’s a decentralized finance utility that provides the chance to earn by means of staking or swap with totally different tokens. All of that is held collectively by Lepricon’s working token, L3P. Galloway says, “The 2 are intrinsically linked, however individuals on the DeFi aspect needn’t be individuals of the video games, and vice versa.”
At this level, Galloway is eager to introduce two further elements of the Lepricon worth proposition. The primary is that Lepricon will transition to a Decentralised Autonomous Organisation over time. The plan is for holders of L3P to have the ability to make solutions and vote on financial parameters.
The second is that Lepricon will make intensive use of non-fungible tokens, or NFTs, as each collectibles and proof of standing in its popularity system, which, persevering with the Irish theme, they name Shamrock. “Our first NFT is known as Genesis, and it represents our highest standing stage. We’ll mint simply 77 for the primary individuals that enter into our liquidity swimming pools. Holders of Genesis may have many benefits throughout your complete Lepricon platform.”
Galloway summarises the Lepricon expertise: “At Lepricon, you may play, earn, swap, predict, fund, and acquire. All of these actions use L3P, and all of them supply the prospect to earn extra L3P.”
Requested what he expects would be the greatest challenges for Lepricon, he gives two areas that they’re specializing in; expertise and expertise. “We notice that whereas we might use Blockchain as an enabling expertise, we’re not a blockchain firm. We’re an leisure firm. Most of our neighborhood individuals would be the avid gamers coming to play video games. Our person expertise should match these expectations, and their first taking part in expertise have to be fast to start out and easy to know.” He provides, “The success of the gaming platform will totally drive the worth of L3P as a token on the open alternate market.”
On the subject of expertise, Galloway’s main concern is velocity. Blockchain networks are well-known for his or her sluggish transaction speeds, and this can be a large headache for a gaming platform that provides immediate entry and rewards. His reply to this lies in partnerships, the primary of which Lepricon introduced in December with RioDeFi to make the most of their Polkadot parachain, RioChain. He explains, “we can course of greater than 3000 transactions per second and with considerably diminished transaction charges by means of RioChain. Our gamers can soar in, and in the event that they win, soar straight again out with their new L3P.”
Galloway is bullish about the way forward for gaming and blockchain as the 2 industries merge. He reminds us of the truth that avid gamers have used in-game currencies for a few years. It’s not a large leap to know the world of digital cash that exists on-chain. He thinks that is on the core of remodeling the gaming business.
“In-game currencies have all the time been saved on a database and existed solely inside the sport. That they had no different worth and might be worn out, by the writer, and even in a server crash,” he says. “However, you set that in-game foreign money on the blockchain, then it has actual worth. The participant now has pores and skin within the sport, which transforms his or her relationship with your complete gaming expertise.”
He provides, “the longer term is community-driven and player-owned gaming economies.”
Lepricon will launch within the Spring of 2021. They anticipate to announce particulars on their non-public and public token gross sales by the top of February. For extra data, go to their web site at lepricon.io.