Blockchain-Based Rental System for In-Game Assets
Imagine a future where you can rent in-game items via blockchain technology. This is the vision of Richard McLaren, co-founder of Polemos, who hopes to create an economy where players can rent out their in-game assets for a fee. McLaren recently announced a partnership between Polemos and the fantasy battle game Illuvium, aiming to make it easier for players to get started on the platform.
A Solution to Financial Barriers
One of the main challenges in blockchain games is the significant upfront capital required from players. McLaren believes that allowing users to rent non-fungible tokens (NFTs) for a few days will lower the entry barrier and attract more players. By implementing their non-collateralized NFT lending protocol called “The Armory,” Polemos enables players to rent in-game assets without having to put down collateral.
Predicting the Market Potential
Although game asset NFT lending may seem niche, McLaren predicts that it could grow to represent 30-40% of the $2.3 billion invested in NFT gaming by 2023. He argues that rental fees are part of a game studio’s marketing expense and provide an incentive for players to engage with their games.
Earning Passive Income
The rental model not only benefits new players but also offers long-time players and game studios the opportunity to earn passive income from unused assets. McLaren believes this can be a positive retention mechanic that keeps players engaged in the game.
Decentralized Public Infrastructure
McLaren highlights that using decentralized public infrastructure eliminates the need for game studios to create their own lending services. He emphasizes that player ownership relies on public infrastructure, ensuring independence from the longevity of game studios.
Polemos’ Native Token
Lastly, McLaren mentions that Polemos is currently finalizing its strategic pre-sale for a native token, set to launch in mid-2024.
Hot Take: Revolutionizing In-Game Asset Ownership and Rental
By introducing blockchain-based rental systems for in-game assets, Polemos aims to revolutionize the gaming industry. The ability to rent NFTs provides an accessible entry point for new players while offering long-time players and game studios the opportunity to earn passive income. McLaren predicts significant market potential for game asset lending and emphasizes the importance of decentralized public infrastructure. With their upcoming native token launch, Polemos is poised to further disrupt the gaming landscape.
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