Bluzelle launches Capella NFT marketplace for Web3 games
Singapore-based decentralized computing network Bluzelle has launched the Capella NFT marketplace for blockchain-based Web3 games.
What makes Capella stand out compared to other similar solutions is a streamlined trading process and the fact that it provides easy access to NFTs and game collections 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 quoted by cryptodaily.co.uk spoke about the development process of their new GAMMA 4 game and recalled how available NFT solutions in Cosmos did not meet the requirements of their game. Capella was created to solve this problem by offering access to truly decentralized storage and flow with other Cosmos chains.
Cosmos-based NFT marketplaces face several issues such as inflexibility in supporting SFTs, which are becoming more and more common in Web3 games. Capella solves this problem by giving players and developers the ability to seamlessly trade and easily access NFTs and game collections in the Cosmos ecosystem. The aim is to minimize gambling assets’ effectiveness and ability to be resold in secondary markets.
The security of game resources on Capella is ensured by Bluzelle’s R2, which is a decentralized storage technology. The solution was designed to ensure programmers’ 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.
Blockchain Gaming Market Size Predictions
According to new research conducted by Polaris, the global blockchain gaming market was valued at USD 5.41 billion in 2022 and is forecast to grow at a CAGR of 68.9% to reach USD 1,020.02 billion by 2032.
The increasing shift from traditional games to blockchain-based games is expected to stimulate demand in the blockchain gaming market. Market expansion is expected to accelerate due to the nature of blockchain-based games, as they allow players to use digital assets in-game, a feature not present in traditional games. For example, several Bitcoin gaming companies offer in-game rewards and goods that players can access. Additionally, with blockchain games, there are various methods for real-world players to earn money, as exemplified by the Play-To-Earn (P2E) model.
Geographically, the blockchain gaming market in the Asia Pacific region is estimated to generate significant growth and market share. Market growth is affected by an increasing number of new players 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.
