Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Blockchain-based MMO game League of Kingdoms has announced the release of LOKA token to its user community. It is besides the Non-Fungible Tokens (NFTS) that already exist within the League of Kingdoms community.
With a user base of over 400,000, League of Kingdoms has become one of the leading blockchain MMO games. The addition of the new token will allow for governance and other use-cases. They include staking and special edition NFTs, which will come from time to time. In terms of governance, LOKA token holders shall choose what happens within the game's development and more.
It brings to the fore the function of web3 technologies within gaming ecosystems. Web3 technologies improve and expand upon the original innovations game developers envision. They extend the original ideas and bring out the best within gaming ecosystems as users move towards interactions and an enhanced gameplay experience.
League of Kingdoms has Grown Significantly
League of Kingdoms was launched in early 2020 and has grown massively. The game has seen significant interest. It includes investments of $3 Million from the blockchain space.
Investors include Binance Labs, Hashed, Gabby Dizon of YCG, Sebastien Borget of The Sandbox Games, and Aleks & Jiho of Sky Mavis (Axie Infinity).
The simplicity of the design creates and enables adoption. It is something many gaming developers don't consider in project design. It also shows that gaming design can have the fresh adoption of web3 technologies as a focus. Thus, bringing in newbies into the web3 space via gaming.
The gaming space has embraced web3 technologies. Gaming ecosystem developers are now doing everything to deploy as many web3 industry elements as possible. Younger generations have embraced the web3 industry, making it easy for games to onboard web3 technologies.
Gaming Increases Rapid Web3 Adoption
The web3 industry gives so much attention to how social media, forums, and similar web 2.0 media platforms have increased the adoption of web3 technologies. Little attention has been given to the role of gaming in the same. Gaming activities increase interactions than the other web 2.0 platforms and technologies.
Gaming fulfills just about any purpose the creators wish to have with creativity. They range from learning to training simulations. Gaming creates an environment where player concentration increases learning ability.
Gaming has played a significant role within the web3 industry. By creating all kinds of utility within and outside gaming communities. Gaming communities were also some of the earliest fans and users of web3 technologies. Such contributions to the growth and expansion of the space will continue to be a factor.
MMO Games like League of Kingdoms provide practical examples of increasing utility. With the launch of the LOKA token, for example, other developments have been announced. Some of them include the evolution of the play-to-earn (P2E) gaming feature, including NFT bazaars and other such events, Esports capabilities, and much more. These abilities give games an unlimited breadth to create possibilities for players. It, in turn, improves web3 adoption.
MMO Games Have an Exciting Future
MMO games are the next big thing in the online gaming industry. With the emergence of new technologies and concepts, MMOs hold the key to unlocking what these new technologies can do and what they are about. Speaking about this, Chan Lee, Co-Founder of League of Kingdoms, said.
“This has been truly a long-time coming for us, working on LoK when nobody believed in the promise of blockchain games and play-to-earn”.
“Now, with our friends from Axie Infinity breaking the floodgates open, we’re ready to show the wider P2E community what we’ve been working on!”.
That is the kind of commitment that MMO game developers have towards improving their gaming ecosystems. With the rise in the popularity of web3 technologies, the growth of the MMO industry shall occur seamlessly alongside the web3 industry. Both industries are complementary to each other within the technology space.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.