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Its been a while since we’ve heard from our friends at FYX Gaming, but only because they have been busy at work revamping flagship game CryptoFights and FYX Gateway, a platform enabling users to truly own, buy, sell and trade in-game items across various games and marketplaces.
FYX Gaming’s overarching goal is to create a clean Web3 user experience that any Web2 gamer can enjoy without confusion. In other words, with their Q2 unveiling, FYX Gaming will be closing the gap between “early adopters” and “early majority,” opening up their reach to significantly more gamers.
“The early majority is the target here, and these potential customers want an easy-to-use solution to their problem,” Adam Kling, FYX Gaming CEO & Founder, told CoinGeek.
“Their problem is needing to own and manage their digital assets. Traditional games do not allow customers to trade, own, or freely send digital assets. We aim to change this with the FYX Gateway,” he added.
CryptoFights has moved from a pure Web3 play, super-integrated with BSV Blockchain to more of an early majority focus as well. Kling explained the focus shifted from writing all transactions to the blockchain to what the early majority are going to resonate with, such as game items.
In addition to new gameplay mechanics and a number of enhanced features, FYX Gaming has developed a “fragment token system” for CryptoFights, almost like another game currency. This feature allows players to earn stakes in their games while also supporting their favorite gaming ecosystems.
“These tokens will be the exclusive currencies for games, but allowed to break out of the silo with the Gateway,” Kling revealed.
The FYX Gateway, however, is not just about in-game currency tokens, its also about trading and selling game items.
“By bringing offline game items into the tokenized world, hardcore gamers and NFT traders will overlap,” Kling said.
“Hardcore gamers can grind, collect, and trade items just as if they were without any crypto knowledge. Using the popular NFT protocols, NFT traders can participate in the economy by having an open permissionless trading system simply by the assets residing on-chain,” he explained.
The reality is the majority of hardcore gamers are still stuck in a world of Web2 and to reach this enormous group, FYX Gateway specializes in taking Web2 items and pushing them into Web3.
“The FYX Gateway presents a solution to bridge the gap between traditional Web2 gaming and the emerging Web3 ecosystem,” Kling said.
Kling went on to point out digital game items are not just a fad — they have been around for years and clearly are not going anywhere. He described trading in the Web2 world as “clunky” — requiring an in-person meeting, even — just to exchange ownership of an item. By simplifying the whole process of moving digital items around, Kling anticipates tapping into a huge market, long term.
To facilitate desired movement of items, FYX Gateway provides access to multiple blockchain ecosystems, with more chains to be added. This “one stop shop” enables users to have a way to manage their items, see their items and trade their items in one place.
We can think of the gateway as selling the shovels and pans to the goldminers, allowing the users to decide based on the benefits of each blockchain for them. However, not all blockchains are created equal in terms of their functionality, scalability and cost.
“All blockchains compete for adoption in the same way, which results in more fragmentation for users. The FYX Gateway will bring all of these chains, protocols, and marketplaces into one destination so that both non-crypto and crypto natives can have an easy-to-use method for digital asset management and trading,” Kling said.
“The customer will decide which chain offers the best experience for their needs. BSV should naturally out-compete other chains with the benefits it provides,” he added.
Major game studios also have a lot to gain from taking part in the FYX Gateway, namely due to the royalties that will be aggregated and paid out to studios via a stablecoin, for example.
“Game studios would want to use this system as it provides all the Web3 they want or need in one easy-to-integrate solution,” Kling explained.
“Items traded will generate royalties, which will increase revenue. This system also has some nice by-products of increasing retention from all the extra things gamers can do with the game now,” he said.
In addition to the Q2 unveilings, FYX Gaming has aggressive plans for the future, including expanding game economies, advanced asset management and more game integrations with the Gateway like Omniscape’s Boximon.
“The FYX Gateway aims to integrate at least 25 games before its token launch. It will help the BSV ecosystem by providing users with a HandCash wallet and offering incentives to use BSV over other chains,” Kling revealed.
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.
