Published on: 26/08/2022
Xiroverse aims to simplify access for Web 3.0, metaverse in gaming
Only a select number of players and gaming studios benefited directly from the recent gaming market boom, which last year was valued at $198 billion. Web3 and metaverse platform Xiroverse is set to counter this issue by integrating blockchain technology in gaming via its marketplace, Xiro.
Xiro aims to bridge mobile titles to Web 3.0, effectively integrating mobile gaming with Web 3.0 and providing revenue streams to players and studios via streaming and esports. It envisions that some of the gaming world’s most popular titles on mobile, such as Apex Legends, Call of Duty — and even the old-time favorites like Candy Crush and Clash of Clans, will allow players to earn rewards while playing when these titles are hosted on the launchpad.
When players would be able to reap awards from the platform remains to be seen as blockchain, Web 3.0, and the metaverse’s integration in the gaming industry are still in full swing. Regardless, founder and CEO Roshan George is determined by Xiroverse’s ambitions to expose players and gaming studios to other revenue streams in the industry “at no cost”.
“We’re not trying to reinvent the wheel at first, we want people to play the games they already love playing for free, with the opportunity of earning tokens at no cost, to trade in for rewards as and when they please,” said George. “Gamers will be able to collaborate, chat, organize and host tournaments and live streams on our platform too.”
Providing revenue streams
George said his venture “put gamers and studios first”. The exec is well-versed with the current market condition, which only benefits a handful of players and gaming studios — despite the positive trajectory of the entire gaming market, whose valuation globally is expected to generate $203 billion of revenue this year.
George added that only 0.1 percent of players were able to create revenue in streaming and esports. Such a percentage could potentially be bumped up via the integration of blockchain technology and decentralization in a bid to create revenue streams that previously were unreachable. In the process, Xiroverse may also benefit from this.
“65 percent of all in-app purchase revenue goes to the top 100 to 200 games, and less than 0.1 percent of top gamers create substantial revenue for themselves via streaming, eSports, and gaming tournaments,” he said.
“By incorporating Web 3.0 via blockchain technology and focusing on decentralization, Xiroverse will enable many more gaming studios and gamers to access and create revenue streams previously unavailable to small players. Eventually, their success will determine ours, so it’s our interest to ensure we put gamers and studios first.”
This is where Xiro comes in. The marketplace aims to ease Web 3.0 integration of gaming titles. The technicalities involve NFTs and tying these assets and other digital assets for stakeholders with intelligent contracts. Another differentiating factor between Xiro and other projects is that the launchpad tries to cut down the convoluted and unnecessary number of processes.
“So, Xiroverse is building an ecosystem that’s free to access and easy to sign up to. It’ll be as easy as creating a new social media account,” George continued.
“We’ll take care of all the backend functions by creating a wallet, and even allocating some tokens into it to get people started. The goal is to introduce people to Web3 and the Metaverse via gaming, by changing the game from a six to eight-step process to a one-step process.”