News

Bluzelle launches Capella NFT marketplace for Web3 games

Tuesday 11 April 2023 10:25 CET | News

Singapore-based decentralised data network Bluzelle has launched the Capella NFT marketplace for blockchain-based Web3 games.

 

What makes Capella stand out when compared to other similar solutions is a streamlined trading process and the fact that it offers easy access to NFTs and gaming collectables within the Cosmos ecosystem. The launch comes in the context of non-fungible tokens (NFTs) and fungible tokens (SFTs), becoming more common in Web3 games. 

Bluzelle representatives cited by cryptodaily.co.uk talked about the development process of their new GAMMA 4 game and recalled how available NFT solutions within Cosmos did not meet the requirements for their game. Capella was created to address this issue by offering access to truly decentralized storage and fluidity with other Cosmos chains. 

Cosmos-based NFT marketplaces are facing several issues such as inflexibility when it comes to supporting SFTs, which are becoming more and more common in Web3 games. Capella addresses this problem by providing giving gamers and developers the option to trade seamlessly and gain easy access to NFTs and gaming collectables in the Cosmos ecosystem. The goal is to minimise gaming assets' effectiveness and ability to be sold again in secondary markets. 

The security of game assets on Capella is ensured by Bluzelle's R2, which is a decentralised storage technology. The solution was designed to ensure programmer confidence when it comes to the security of their game data. Moreover, R2 eliminates the need to transfer NFTs between chains and offers a complete solution for token storage.

 

Singapore-based decentralised data network Bluzelle has launched the Capella NFT marketplace for blockchain-based Web3 games.

 

Blockchain gaming market size predictions

According to new research conducted by Polaris, the global blockchain gaming market size was valued at USD 5.41 Billion in 2022 and is predicted to increase at a CAGR of 68.9% and reach USD 1,020.02 billion by 2032. 

The rising shift from traditional games to blockchain-based games is expected to fuel the demand in the blockchain gaming market. Market expansion is expected to accelerate due to the very nature of blockchain-based games, as they allow players to use in-game digital assets, a feature that isn’t present in traditional games. For instance, several Bitcoin gaming ventures offer rewards and in-game goods that players can access.  Furthermore, with blockchain games, there are various real-world methods for players to profit, as exemplified by the Play-To-Earn (P2E) model. 

Geographically, the blockchain gaming market in the Asia Pacific region is projected to generate significant growth and market share. Market growth is influenced by a rising number of new gamers and investments from various global market players in the region. In November 2021, The Asia Blockchain Gaming Alliance was formed to encourage blockchain gaming in Asia.


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Keywords: web3, NFT, product launch, cryptocurrency, blockchain
Categories: DeFi & Crypto & Web3
Companies: Arc, B3, Block, epay, GAP, ING, Target, Two, Zelle
Countries: Singapore
This article is part of category

DeFi & Crypto & Web3

Arc

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B3

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Block

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epay

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GAP

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ING

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Target

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Two

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Zelle

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