Blockchain-based games project Itchiro is tapping decentralized finance and non-fungible token tech as it looks to build next generation gaming infrastructure.
This year has seen an explosion of defi projects, all working to create new experiences and systems that utilize Ethereum smart contracts to build a parallel financial system.
Now, Itchiro, a defi ecosystem for gaming and in-game assets trading, that boasts a wealth of game development talent, is working to make its own mark on the nascent space.
Itchiro is building tools and infrastructure to help indie game development studios issue and sell blockchain-based game items.
The team, which originates from Japan, and works for a respected medium-sized game studio, features a wealth of development talent, including backend game developers, unity developers, and graphic designers.
In the short term, they’re building general infrastructure for the ecosystem, the NFT marketplace and NFT mobile wallet. In the long term, they want to build infrastructure for indie game studios allowing them to manage the lifecycle of in-game assets.
Overall, their mission is to build infrastructure on Ethereum that helps gamers and game studios digitize in-game assets.
The marketplace will be a decentralized exchange (DEX) that will allow users to buy, sell and swap in-game assets using the Itchiro marketplace contract, while the team is working to build a NFT wallet application for Android and iOS that allows users to receive, send and manage their NFT collection.
The ecosystem is backed by the Itchiro decentralized autonomous organisation (DAO), and allows holders of Itchiro’s $JEM token to vote on operational and treasury decisions that affect the platform.
DeFi Mario, Itchiro Games Tech Lead, said:
“As a team, we saw many interesting defi mechanisms from automatic market makers (AMMs) to investment mutuals and snapshots, that have massive potential for creating value in the gaming industry.”
“As game developers, we also realized that software tooling on Ethereum is poor for game developers … We’re going to build the infrastructure and marketplace for indie studios like ours, to issue and sell blockchain-based items. But before we get there, we have to start small, by building tools and apps for end users to adopt crypto assets.”
Itchiro is working through an ambitious 100-day roadmap which is currently seeing the deployment of the $JEM token, and will shortly enter pre-sale and yield farming stages before they move to launch their marketplace and wallet by the end of 2020, and is also completing an audit with cybersecurity firm Zokyo.
The team is also working on three new games for iOS and Android smartphone smartphones, including: The Jungle, which is a story-based game, which will feature NFTs from a range of defi and cryptocurrency projects for players to collect and trade, all managed using the Itchiro wallet.
Itchiro is working with other projects such as enoki.finance to introduce their defi protocols and company art into the Itchiro game universe.