In 2020, the value of the global gaming market reached $167.9 billion. With a projected value of $287.1 billion by 2026, it is obvious that the industry will continue to thrive in the coming years. Much of the sector’s growth can be attributed to the proliferation of mobile phones, the availability of free-to-play games, and significant improvements in gaming-related hardware and software.
More recently, blockchain technology is disrupting the space by providing a decentralized way to play games, store data, and transfer assets. Non-fungible tokens (NFTs), in particular, provide some level of verification and proof of authorship for those who create digital art.
Speaking of disruption, Ulti Arena is a blockchain project that is primed to transform the gaming industry. The project aims to solve the problems of the three core participants in the gaming industry – gamers, game artists, and game developers.
Ulti Arena describes itself as an “NFT marketplace and community of game artists, developers, and players.” In June 2021, the company kicked off with a private sale of its ULTI token, and following a series of token sales, a public listing has been slated to go live on PancakeSwap on September 12.
The entire ecosystem is centered on its native cryptocurrency, ULTI. In addition to its numerous use cases such as staking, special discounts, rewards, and affiliate programs, UTIL is designed to be deflationary, with a 2% burn on each transaction. Moreover, users can earn UTIL tokens by participating in community discussion boards, events, competitions, and tournaments, or by selling NFTs through the marketplace.
The Ownership Problem
An artist may create millions of assets when designing an Indie or AAA game. From 2D/3D characters to sound, weapons, and user interfaces, tracing these assets back to the original creator is almost impossible once they become available on various marketplaces. It is extremely difficult for creators and developers to monitor the usage of their digital assets once they are sold.
Ulti Arena provides a better way for artists to showcase and track the usage of their work on the blockchain. It tackles the problem of traceability by using NFTs. Artists will be able to develop their own storefronts with customizable themes and unique URLs. Developers can also connect with artists.
As for gamers, Ulti Arena employs a brand-new consensus mechanism to reward participants. Its innovative Proof-of-Gaming concept allows users to earn ULTI tokens by playing games and racking up experience on a range of titles, including Dota 2 and LOL. The primary idea is that gamers who spend more time and GPU computational power have a higher chance of creating and validating new blocks.
Furthermore, Ulti Arena is building a dedicated game client that analyzes a player’s behaviors and actions, enabling them to improve on their skills.
Interestingly, gamers can also create their own games using the platform’s Game Engine on the Web Browser. Ultimately, this will serve as a bridge between the NFT Marketplace and Gaming Client/Analytics.
In general, all the core features of Ulti Arena, including its NFT marketplace, discussion boards, website and portfolio builder, as well as its 2D/3D collaboration tool, makes it a central repository for all things gaming. And although development is still ongoing, an early beta of the platform is scheduled for launch in September. Meanwhile, the first version of proof-of-gaming is expected to go live by the end of the year.
Ulti Arena also has a crypto collectible card game as part of its ecosystem. The trading card game was built in collaboration with Remote Control Productions and Frag Games.
Players can choose from a variety of heroes, each featuring a unique playstyle and special cards. Moreover, every card in the game represents an NFT that can be traded by players on the NFT marketplace.
Speaking of cards, there are minions cards, spells cards, secrets cards, and weapons cards.
About Ulti Arena
As already mentioned, Ulti Arena is an NFT Marketplace and community for game artists, developers, and players. The blockchain project is striving to build a decentralized community of game enthusiasts.
Ulti is the first NFT marketplace for game assets on the Binance Smart Chain. By integrating NFTs, artists and developers can seamlessly track the usage of their digital assets and creations on the blockchain. Furthermore, it creates new ways of earning by allowing crators to sell their art pieces.