“Gaming would be the first killer app to take blockchain mainstream.” So says Joshua Galloway, CEO & Founding father of Lepricon, a prediction gaming platform set to launch later this yr.
He could also be proper. There may be explosive progress within the decentralized finance ecosystem, and cryptocurrencies have lengthy surpassed their existence as a way of fee or retailer of worth. Nonetheless, have a dialog with somebody who doesn’t have a Telegram account about staking, liquidity swimming pools, or yield farming, and you’re seemingly to attract clean appears.
Galloway, a 20-year online game business veteran, serial entrepreneur, and former VP at innovation enterprise fund Plutus VC says that it’s the providing of acquainted experiences that can normalize the adoption of blockchain-based functions. “First, we get them to play the video games. Then, when they’re on the platform, we will slowly introduce the DeFi components that kind the spine of Lepricon,” he explains.
Lepricon presents distinct layers of exercise. On the one hand, it’s a gaming platform specializing initially in hyper-casual prediction video games which might be quick and easy to play. Alternatively, it’s a decentralized finance software that gives the chance to earn by staking or swap with completely different tokens. All of that is held collectively by Lepricon’s working token, L3P. Galloway says, “The 2 are intrinsically linked, however individuals on the DeFi aspect needn’t be individuals of the video games, and vice versa.”
At this level, Galloway is eager to introduce two further parts of the Lepricon worth proposition. The primary is that Lepricon will transition to a Decentralised Autonomous Organisation over time. The plan is for holders of L3P to have the ability to make recommendations and vote on financial parameters.
The second is that Lepricon will make intensive use of non-fungible tokens, or NFTs, as each collectibles and proof of standing in its status system, which, persevering with the Irish theme, they name Shamrock. “Our first NFT is named Genesis, and it represents our highest standing degree. We’ll mint simply 77 for the primary individuals that enter into our liquidity swimming pools. Holders of Genesis could have many benefits throughout your entire Lepricon platform.”
Galloway summarises the Lepricon expertise: “At Lepricon, you possibly can play, earn, swap, predict, fund, and gather. All of these actions use L3P, and all of them provide the prospect to earn extra L3P.”
Requested what he expects would be the largest challenges for Lepricon, he presents two areas that they’re specializing in; expertise and expertise. “We notice that whereas we could use Blockchain as an enabling expertise, we’re not a blockchain firm. We’re an leisure firm. Most of our neighborhood individuals would be the players coming to play video games. Our consumer expertise should match these expectations, and their first taking part in expertise have to be fast to begin and easy to grasp.” He provides, “The success of the gaming platform will totally drive the worth of L3P as a token on the open alternate market.”
In the case of expertise, Galloway’s main concern is pace. Blockchain networks are well-known for his or her sluggish transaction speeds, and it is a massive headache for a gaming platform that gives on the spot entry and rewards. His reply to this lies in partnerships, the primary of which Lepricon introduced in December with RioDeFi to make the most of their Polkadot parachain, RioChain. He explains, “we will course of greater than 3000 transactions per second and with considerably diminished transaction charges by RioChain. Our gamers can bounce in, and in the event that they win, bounce straight again out with their new L3P.”
Galloway is bullish about the way forward for gaming and blockchain as the 2 industries merge. He reminds us of the truth that players have used in-game currencies for a few years. It isn’t an enormous leap to grasp the world of digital cash that exists on-chain. He thinks that is on the core of remodeling the gaming business.
“In-game currencies have all the time been saved on a database and existed solely inside the sport. They’d no different worth and may very well be worn out, by the writer, and even in a server crash,” he says. “However, you place that in-game foreign money on the blockchain, then it has actual worth. The participant now has pores and skin within the recreation, which transforms his or her relationship with your entire gaming expertise.”
He provides, “the long run is community-driven and player-owned gaming economies.”
Lepricon will launch within the Spring of 2021. They anticipate to announce particulars on their personal and public token gross sales by the tip of February. For extra data, go to their web site at lepricon.io.