The video game industry has been scaling up to $178 billion as of 2021. According to experts’ expectations, the total worth could reach above $268 billion within the next 4 years. The majority of gamers are shifting to the gaming industry’s newest propellers which are known as “GameFi” or “blockchain gaming”. Through blockchain gaming, players around the world have discovered the perks of the Play-to-Earn model where it is possible to generate passive income by playing.
At this point, Engine protocol or simply Engine has launched as an advantageous opportunity for game developers as well as crypto developers. It enables them to merge blockchain protocols into conventional games. The Engine is based on a revolutionary concept that allows game developers to include functionalities like Play-to-Earn (P2E), NFTs, jackpot prizes, and even challenge pay events without rewriting the game code.
Here’s what you need to know about this pioneering project;
Objective: The idea behind Engine’s creation is to improve the concept of GameFi by building a platform that serves as a bridge between traditional and blockchain gaming. When a game developer integrates their games using the Engine protocol, players will get rewards in the form of crypto.
- The most noticeable attribute of the Engine project is its proprietary protocol using which different blockchain can be connected and new/old software can be on-boarded to gain play-to-earn capabilities.
- The Engine is creating a hub for traditional yet highly popular games like Overwatch to have blockchain features like wagering and P2E. The platform will also be open for indie game makers.
- Though Engine is currently in the experimental development phase this Ethereum-based protocol can incorporate outputs from non-blockchain compatible data.
- Engine’s title will be the first FPS Play-to-earn game which would be a class apart from the existing boring blockchain gaming titles.
- With Engine, it would be possible to earn rewards for playing Fortnite. Engine platform will provide AR room, arcade, virtual rooms, and also a full-fledged NFT Marketplace where both gamers and developers can get creative to maximize their income from P2E activities.
ENGN Arcade and VR:
The ENGN Arcade is a place where all Engine protocol-based games would be showcased in all of their glory. Arcade will make it easier to find games and serve as a marketplace for all blockchain-compatible titles. The ENGN Arcade would include indie games, crypto games, and Metaverses. Arcade would mainly be used to create a fan base of a game developer’s outstanding work and build exposure.
On the other hand, the ENGN Virtual Reality is planned to be realistic environments in virtual space that can be accessed using terminals (either software or hardware). This particular virtual space has a plethora of uses one of which is implementing Metaverses.
Parts of the Protocol:
The Engine announced its game release in March. After the first week of the release, the Engine team shared that they will be adding the P2E system as well. Following are the 3 parts of this protocol;
- Marketplace: This is a crypto game-based Marketplace where swap, trade, purchase, and sell functions are available for the in-game crypto assets players earned or purchased in exchange for crypto tokens.
- NFTs: NFT owners will get unique assets in the game and the option to connect their wallet/directly transfer their NFTs onto the protocol ledger. This aspect would be a part of the NFT release.
- P2E: The winners of P2E will have their earnings as rewards which would be added to an account within the Engine protocol before being transferred into crypto. Other platforms could also use the same implementation with the P2E using the Engine protocol.
The total supply of Engine tokens (ENGN) is 1 trillion. It has a milestone-based development and marketing tax that gradually reduces. ENGN token will receive 20% of gaming profits.
What’s next for Engine?
Not only is Engine bringing the best of both worlds together but it will also provide game creators with a launchpad for their game release. The Engine team is in talks with multiple companies to partner and connect with real-world business aspects as a payment gateway. Its VR lounge will be launching soon.