A blockchain gaming ecosystem says play-and-earn represents "the next wave of disruption" in this $250 billion industry.
Catheon Gaming says the cutting-edge technology that immutable ledgers provide tackles many of the shortcomings that exist in traditional games. In-game assets are completely owned by players, monetizable, and transferable.
Rather than focusing on releasing a single game, this project wants to cultivate a vibrant ecosystem that'll endure beyond the life cycle of any one title. Catheon says it currently boasts a large and growing portfolio of 25 games — and this will be further enriched with the development of its very own metaverse.
A native token that had been responsible for the governance of one game is being rebranded, and will now cater to Catheon's entire gaming portfolio.
Catheon told Cointelegraph: "We are extremely excited to announce our next phase of innovation and growth with the Catheon ecosystem. We have been hard at work over the last 11 months to build the foundations required to execute on this vision and are finally in a position to do so.
"We are addressing key issues in both traditional and blockchain gaming and are building a truly immersive experience for users and a seamless process for game developers to take advantage of the blockchain. We are united in our goal and in execution, we will be a driving force in the industry, and we are confident Catheon will revolutionize blockchain gaming."
Setting out the size of this opportunity, Catheon says blockchain-fueled games currently command less than 5% of the whole market — but this is expected to grow exponentially over the next five years.
The project wants to position itself as a preeminent leader in this space by releasing high-quality, entertaining games and introducing a better onboarding process with less friction. It's also crucial to educate the public about how blockchain technology works, lower barriers to entry, and build distribution platforms for new titles.
Catheon was initially founded in September 2021, paving the way for the launch of SolChicks. Attention this year has turned to building a metaverse and establishing Catheon Labs — and figures from the project suggest that its 25 games have already been downloaded more than 50 million times. The titles in its portfolio span genres including sports, anime and MMORPG — with War of Gama, Prajna Gate and Angrymals among them.
In July, Catheon Gaming was recognized as the fastest-growing blockchain start-up out of over 6,000 companies analysed in the APAC region in an comprehensive research paper conducted by KPMG and HSBC. The company has also built an impressive management team and advisory board of seasoned executives from many of the traditional gaming giants.
'The Steam of blockchain'
Elsewhere in its ecosystem, Catheon Gaming Center aims to become "the Steam of blockchain" — a gateway that allows passionate players to tap into high-quality gaming experiences on their PCs, mobiles and consoles.
Alongside compelling advantages for gamers — including token staking and NFT rentals — CGC wants to make it easy for developers to onboard their titles into the blockchain gaming ecosystem, too.
Meanwhile, Catheon's metaverse stands out from the crowd with perks that aren't currently offered by rivals — delivering true interoperability of games by owning the technical aspects of their gaming portfolio and being chain agnostic.
NFTs from any of its titles can be ported into this virtual world — resulting in "brand-new experiences beyond what's available in their respective native games."
Catheon is a business that consists of several distinctive strands — and it's game on as the project vies to become a force to be reckoned with in the entertainment sector. As consumers increasingly explore what NFTs, play-and-earn games and the metaverse has to offer, it's cultivated an irresistible selection of titles that players will love.
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