- Summary:
- Klaytn, a web3 project focusing on gaming, has developed a solution to gaming gas fees. Find out why this could be revolutionary.
Klaytn, the open-source Korean blockchain Klaytn is establishing a program to reimburse developers for gas used by their games. The program helps game developers mitigate the costs of running blockchain games. The overarching goal of the initiative is to facilitate widespread adoption of web3gaming.
Since gas fees may add up quickly with a substantial user base, Klaytn developed its gas price rebate scheme. This will free up development resources for gaming firms so they can concentrate on expanding their ecosystems.
How Klaytn’s gas fee structure could change blockchain gaming.
With Klaytn’s gas fee delegation feature, gaming firms can absorb user costs. Essentially, gas fees incurred by users on externally owned accounts or contract accounts will cancel each other out. Klaytn games can now provide almost the same user experience as traditional games, thanks to the gas fee delegation feature and the gas fee rebate scheme. The accessibility of the blockchain gaming ecosystem will likely increase as a result of this for traditional gamers unfamiliar with web3.
With this project, Klaytn is addressing a long-standing barrier to Web3’s widespread adoption: the need to collect gas fees for monetary transactions in Web2 commerce. However, because these costs are borne by the retailer and are practically built into the price, many consumers incorrectly assume that they incur no additional expense when making these kinds of purchases. The requirement to obtain cryptos to pay gas fees is a major turnoff for potential players.
There is a basic delegation mechanism in Klaytn that allows organizations to shoulder the cost of gas for their users. For blockchain-based games, this is a key issue with acquiring new players that this innovation solves. From January 2022 on, selected gambling companies will be able to get a monthly KLAY rebate of up to $100,000 to cover their gas costs. The grant comes from the Klaytn Growth Fund, which provides financial backing to companies inside the Klaytn ecosystem. Payment is in the Klaytn token, KLAY.
Klaytn is an open blockchain that prioritizes the creative economy, GameFi, and the metaverse. Its ultimate goal is to have a dynamic gaming ecosystem where players have full control over all of their virtual possessions. Over half of all blockchain usage in the last quarter came from gaming, according to a report by DappRadar.