Blockchain-powered gaming has been one of the most exciting offshoots of the wider web3 scene. It’s easy to understand why: everyone knows what gaming is even if they don’t participate, whereas distributed ledgers and cryptocurrencies have only come to prominence over the last decade or so.
Web3 games offer the promise of decentralization, player empowerment, and true digital ownership, combining fun gameplay with the prospect of token rewards and autonomy. The digital gaming token is central to this premise, a crypto asset that flows into the hands of players based on their endeavors in the game, their commitment and skill level. But game tokens have also become a bone of contention in the web3 gaming community.
Why Single-Utility Tokens Have Had Their Day
Traditionally, these tokens have been singular in their purpose, tied to a specific release or platform. Historically, the value and utility of such tokens has been poorly defined, hinging largely on market speculation and the fluctuating fortunes of individual games. The limitations of this model have been revealed over time, with the waning fortunes of certain releases causing their native tokens to tank.
If the value of a token is intrinsically linked to the success and popularity of a single game, it is clearly not sustainable unless that game’s popularity continues well into the future: think Final Fantasy or Grand Theft Auto. Web3 gaming hasn’t been around long enough for any game to build that kind of momentum and generational appeal.
So what’s the solution to the short life cycle of gaming tokens and how can their relevance and value be preserved after the hype around the game has died down? The need for a more robust, versatile, and sustainable model is evident.
Enter multi-utility studio tokens, which are designed not just for a single game but as a cornerstone of a broader gaming ecosystem. These multi-purpose assets offer a range of utilities and benefits, meaning their relevance and value extends beyond the lifecycle of any individual release. It’s an approach that represents a significant evolution from the previous generation of P2E games and tokens, promising to address the challenges that have stymied the growth of the sector as a whole.
The Expanding Studio Token Landscape
A frontrunner in this new wave of multi-utility tokens is $OAS, the native currency of the Oasys gaming blockchain. Firmly positioned at the heart of an expanding gaming ecosystem, the token’s utility is multifaceted: it’s essential for paying network gas fees, a requisite for game developers when constructing their own Verse (a Layer-2 blockchain tethered to the Oasys mainnet), and it serves as the default currency for all in-game micropayments.
But $OAS goes beyond mere transactional utility. It empowers holders with governance rights, allowing them to have a say in key decisions and treasury allocations as Oasys transitions into a DAO (Decentralized Autonomous Organization). This multifunctionality not only enhances the intrinsic value of the token, but also fosters a deeper sense of community and ownership among players.
Oasys’ native token also grants staking rewards as an incentive for long-term holding, with users who stake 10 million tokens or more through a validator contract eligible to become validators themselves. Within Oasis, validators provide security and processing power to facilitate smooth transactions.
The QORPO token, meanwhile, is integral to the QORPO World gaming platform, supporting a diverse network of games, player interactions, and NFTs. The asset’s integration across various gaming titles operating under the QORPO umbrella ensures its utility and relevance goes beyond a single game, whose popularity will inevitably wax and wane.
Holders of the QORPO token are not just passive investors but active participants in the platform’s governance, contributing to its sustainability and growth. In total, some eight different utilities are associated with the token including staking, player incentives, and B2B (gaming partners who join QORPO World are required to offer additional utilities to token-holders).
Finally, there is Trilium (TLM), the native token of the Alien Worlds metaverse, a diverse ecosystem of games, DAOs, tools, NFTs, and events. Trilium typifies the versatility of modern multi-utility studio tokens, serving a variety of purposes within the metaverse: it can be used to buy or ‘shine’ NFTs, staked to earn governance power in Syndicate DAOs (or run as a Custodian), used to participate in yield-generating ‘Missions’ or to customize avatars.
Prize pools offered by competitions are also denominated in Trilium, whose backstory feeds into the wider Alien Worlds sci-fi lore. The token is even used in the disbursement of community grants awarded by the ecosystem’s grant program Galactic Hubs, further cementing its role as a cornerstone of the game.
The Dawn of a New Gaming Token Era
The emergence of multi-utility studio tokens marks a significant turning point in the play-to-earn gaming space. By providing diverse utilities and fostering a more engaged and invested community, these assets are poised to transform web3 gaming into a more sustainable, participatory, and dynamic domain.
This news is republished from another source. You can check the original article here