Nintendo, PlayStation and Xbox get a new competitor as Zilliqa prepares to launch Web3 game console

Zilliqa has unveiled a new web3-focused game console and hub set to launch in 2023.

The console, slated for release in 2023, incorporates complex Web3 elements such as crypto wallets and mining, allowing players to earn ZIL coins for completing in-game quests, similar to games. existing ones reward users with virtual currency, except now the rewards involve blockchain technology. .

Zilliqa is looking to make its foray into the gaming industry against big industry giants like Playstation, Nintendo, and Xbox. Video game consoles generated around $107.5 billion in 2021. Statista expects the industry to reach $130.8 billion by 2026.

The prototype console reveals an HDMI port, Ethernet, USB-C and USB 3.0 ports. Zilliqa was tight-lipped on other specs, though it did say the console was designed to strip away the complexities of Web3 to provide a more user-friendly experience.

Players could also mine ZIL coins, increasing the security of the Zilliqa blockchain.

At press time, Zilliqa was testing the console for a Q1 2023 launch.

In August 2022, Zilliqa launched its first in-person shooter, WEB3WAR, to be a win-win skill game rather than a win-win game like Axie Infinity, which the company says is a more economically sustainable model. WEB3WAR will be one of the first two titles Zilliqa will release for the console.

Zilliqa is a layer 1 blockchain for smart contracts. Earlier this year, Zilliqa announced partnerships with various esports teams, the latest being Swiss company Xborg, to help propel its efforts into the Web3 gaming space. Xborg will allow its player base access to games built on Zilliqa for players to provide feedback on their experience. Where possible, Xborg will seek to increase the exposure of Zilliqa games to the wider gaming community.

The Conundrum of Gamers vs. Developers

Zilliqa’s approach is designed to appeal to avid gamers more than crypto enthusiasts who don’t shy away from a rudimentary narrative and gaming experience. Play-to-earn games have always struggled with sustainable tokenomics, as evidenced by Axie Infinity’s migration from play-to-earn to play-and-earn following inflationary concerns over one of its tokens. in-game. Other games like Splinterlands have fared better, providing updates that encourage token storage by offering rewards to hodlers. There is a constant tension between gamers looking to sell in-game tokens for fiat and game developers who don’t.

Siled ecosystems frustrate players

One of the gripes traditional gamers face is that they don’t own any in-game assets that they acquire by completing missions and tasks, and game vendors sometimes go out of their way to prevent players from exchange assets. In some cases, players wishing to trade such assets have to sell their accounts on the dark web.

Valve’s Steam Community Marketplace pioneered a different approach that allowed players of different Valve titles to trade assets. Valve now has a peer-to-peer marketplace where players can trade assets using fiat money.

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