Siddharth Menon, co-founder and chief operating officer of WazirX, and SuperGaming, an Indian game development company, announced Tegro as their Web3 gaming ecosystem marketplace on Tuesday. The new service aims to provide gamers, traders, and institutional investors with their own marketplaces where they may trade, keep, and play with their game assets. With a sustainable economy model, it is also said to help protect players and investors. Web3 has developed as a nascent gaming space, with blockchain and non-fungible tokens (NFTs) being used to improve user experiences.
Tegro’s move comes less than a week after WazirX’s Menon revealed his decision to join SuperGaming as an advisor to support the Pune-based firm’s Web3 activities. Menon is expected to help Tegro stand out in the gaming business by bringing his knowledge in Web3 ecosystems to the company.
ALSO READ: Gaming Platform WinZO Onboards Bhuvan Bam as Brand Ambassador
In addition to onboarding institutional investors and traders, SuperGaming will collaborate with Menon to make Tegro an interesting platform for gamers. Most existing Web3 games, according to the game developer, do not put players at the centre of expanding their economic opportunities.
“Web3 games will be the next paradigm shift in gaming, opening new economic and creative opportunities for players, and have the potential to unlock a two trillion-dollar market,” he said in a prepared statement.
Tegro is expected to offer a specialised marketplace for game assets, as well as a trading platform for gamers, traders, and investors. It’s also rumoured that it’ll provide game asset stats to enable gamers and traders to trade more efficiently.
“We see Web3 technologies complementary to our player-first ethos, allowing us to produce new creative and economic opportunities for them,” said Roby John, Co-Founder of Tegro and SuperGaming. “With the potential of Web3 games and Tegro, we can do so in a way that’s sustainable, fair, and transparent for all.”
Tegro will provide market SDKs and APIs to let developers integrate the experience in addition to being the marketplace.
RELATED: YouTube’s Head of Gaming Ryan Wyatt Leaves to Join Polygon
SuperGaming claims to have more than 300 million gamers across its range of 100 games. MaskGun and Silly Royale, both popular among smartphone gamers, are among the games included. The team is also working on Indus, a combat royale game.
In addition to games, SuperGaming is making its gaming engine available to third-party studios that may adopt Tegro in the future.
Web3 (also known as Web 3.0) has become a popular buzzword in the game business worldwide. However, the new blockchain-based iteration of the World Wide Web has yet to achieve significant success.
We are launching @TegroFi, we’re building the future of video games — one that:
☑️ is sustainable
☑️ has you at the center
☑️ brings economic and creative opportunities to you
A 🧵: #BuildForCrypto https://t.co/8q3iCcOBv4 pic.twitter.com/9jP2QkU3iO— Siddharth ( WazirX ) (@BuddhaSource) February 15, 2022
GameStop, the world’s largest video game retailer, launched its native NFT marketplace into the Web3 world earlier this month. It also established a fund of “up to $100 million” to assist game makers that use the newly launched marketplace.
Axie Infinity and OpenBlox are two other NFT markets where gamers may buy, create, and exchange their in-game assets.
TRENDING: Top 10 Growing Blockchain Startups To Follow in 2022
Last month, nCore Games, an Indian game publisher, revealed plans to launch its own Web3 offerings in collaboration with crypto players Animoca Brands, Galaxy Interactive, and Polygon.
Tegro’s effort, however, appears to go beyond providing Web3 games to gamers and offering an NFT marketplace. It is believed that it will support in the resolution of the fragmented liquidity problem by allowing gamers and merchants to collaborate and increase capital flow methods.
