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According to Web3 gaming firm Moxy, the deal will save the company around $3.5 million in gas fees annually.
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Gaming and eSports platform Moxy has partnered with blockchain firm Skale Labs to create a Web3 ecosystem featuring gasless transactions for end-users.
In a blog post announcing the partnership, Skale Labs stated that Moxy will migrate its Moxy Token (WMOXY) from Ethereum to the SKALE Protocol. Skale Labs co-founder and CEO Jack O’Holleran express his enthusiasm for the deal in a post on social media.
Source: Jack O’Holleran
Gasless blockchain?
According to the blog post, the major selling point for the partnership was the speed and efficiency of the Skale Network, a “gasless” blockchain alternative.
Skale Labs network runs as a layer-2 Ethereum blockchain; thus, transactions verified via its protocol against the Ethereum ledger still incur gas fees. However, rather than including gas fees in user transactions, the company charges developers a subscription fee to host their dApps on the network.
User adoption
Nolan Bushnell, the co-founder of eSports firm Moxy, facilitated the partnership between Skale Labs and Moxy. He’s well-known throughout the gaming industry as the co-founder of Atari.
According to Bushnell, the collaboration is “a game-changer for Web3 gaming” because it addresses the core challenge of convincing cryptocurrency outsiders to interface with blockchain technology:
“By eliminating gas fees and utilizing SKALE’s high-speed infrastructure, we are setting a new standard for what gamers and developers can expect. This partnership bridges the gap between traditional and blockchain gaming, creating a seamless and rewarding experience for all.”
The landscape for Web3 and blockchain gaming has been somewhat wobbly over the past few quarters. Events such as the Bitcoin halving and massive layoffs throughout the gaming industry have served as inflection points for both sectors. However, the month of August showed signs of increased investor interest.
Andrew Saunders, the chief marketing and growth officer at SKALE Labs, cited Moxy’s co-founder’s influence on the gaming world as a positive factor. According to Saunders, “partnering with Moxy under his leadership allows us to demonstrate the true potential of SKALE’s technology.” He added that the collaboration would “drive innovation and expand the reach of competitive gaming in the Web3 space.”
As Cointelegraph recently reported, venture capital funding for cryptocurrency-related projects surged to $633 million in August. One firm alone, Lemniscap, secured $70 million specifically for early-stage Web3 startups. These developments could indicate rising demand for Web3 and blockchain-connected experiences.
Related: Earn Bitcoin for eating tickets, Immutable says ‘big studios are showing up’ — Web3 Gamer
This article first appeared at Cointelegraph.com News
