For the first few years of the cryptocurrency revolution, the core idea that gaming could be a perfect fit for the unique features that blockchain technology brought to the table has captured the imaginations of gamers and developers alike. And yet, as the calendar approaches the end of 2020, there still hasn't been a true killer app in the blockchain gaming space. But now, a blockchain gaming collective known as Team3D is aiming to change that forever.
To do it, they've launched a new token called VIDYA, which is their opening move in a broader initiative to create and sustain a true gaming ecosystem on the Ethereum blockchain. On August 22nd, the token began publicly trading and is already gaining momentum and attracting serious investor interest. And that's just the beginning.
VIDYA is designed to serve as a new transaction medium for a whole new ecosystem of blockchain games that will incorporate real-world consequences for in-game actions. The reason it's so significant, though, is that the VIDYA token will also provide a steady stream of funding for the development of new games aimed at competitive gamers – who have remained underserved by existing blockchain gaming efforts.
That's a big departure from the status quo, where blockchain game development is weighted heavily in favor of developing simple, profit-generating games rather than true immersive gaming experiences. According to Team3D's community outreach team, the idea is to create a beneficial loop where each new game provides the fuel for the long-term development of each successive one. They summed up the idea by stating that:
"The purpose of this token 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. The limits are boundless, and you will always have a stake in everything we do so long as you hold this token."
In other words, the VIDYA token is going to enable game developers to take the time necessary to create real games on the blockchain that stretch the boundaries of both the underlying technology and their own creativity. It's the kind of development that has been financially impossible up until today.
Every part of the VIDYA ecosystem will soon be accessible via TeamOS, the developers' custom portal for the platform. It's an all-in-one interface that will let users manage their token holdings, item inventories, and any other VIDYA-connected assets. They will also have access to the VIDYA generator, which is a custom liquidity staking system that allows VIDYA owners to lock their holdings in to earn returns based on bonus conditions and the system's ongoing earnings from game operations. And every stake will help to grow the ecosystem by contributing to the Uniswap liquidity pool that maintains the flexibility of the VIDYA token on the open market.
VIDYA’s universal inventory functions through the use of NFTs (non-fungible tokens) as items.
In the spirit of the recent launch of the Uniswap token (UNI), users holding over 1,000 UNI who connect to TeamOS with their wallet will be prompted, and given the option of claiming the new “Unicorn Head” NFT in exchange for 1,000 VIDYA tokens. The Unicorn Head NFT is the first ultra-rare item to be created for the ecosystem, with only 100 that can ever be claimed. The proceeds in VIDYA from this event all go towards the “Treasure Chest” NFT pool, which, when found, can instantly be swapped for large sums of VIDYA. While only 100 can be minted, claimed, and will ever exist, users are still free to send or trade them amongst themselves.
Team3D is also making VIDYA available as an escrow service that game developers can integrate using a Web3 interface. That means any game developer can leverage VIDYA's unique functionality to enable a game lobby system where players can set the staking requirements prior to beginning a match. It's an approach to blockchain gaming that would previously require custom-built per-game coding but that now can be accomplished with ease.
In the long term, Team3D hopes to continue to nourish the VIDYA ecosystem to help it to develop into the premier blockchain gaming platform for the 21st century and beyond. With input from token holders and like-minded developers, they hope to revolutionize blockchain gaming and help it fulfill the lofty destiny that so many have predicted for it for so long.
Team3D is a dedicated group of gamers, developers, and blockchain innovators with a passion for advancing their goal of creating a viable blockchain gaming ecosystem that focuses on high-concept, emotion-driven gameplay rather than on niche viral gaming experiences.