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This Company Is Helping To Demystify Crypto For The Crypto-Naive And Shape The Future Of P2E Gaming With Its Latest Web3 System Drop  - Benzinga

This Company Is Helping To Demystify Crypto For The Crypto-Naive And Shape The Future Of P2E Gaming With Its Latest Web3 System Drop – Benzinga

Gaming company MagicCraft just dropped a web3 game system, and it includes the game’s hyped play-to-earn feature with more developments on the way.

Web3 is a new iteration of the internet that seeks to further decentralize shared systems. Developing past web2 (the read-and-write content model), web3 maximizes user ownership, giving people control over their data and content and increasing their ability to make money. Web3 is achieving its aims by harnessing decentralized, user-friendly sectors like blockchain, non-fungible tokens, (NFTs) and cryptocurrency. These building blocks of web3 are meant to hand over greater control and ownership to users. 

Web3 is bringing some particularly exciting changes to the gaming world. The gaming market is estimated to be worth $221.4 billion in 2023 and is projected to rise to $285 billion by 2027. 2023 has already been dubbed the “year of releases” when it comes to web3 gaming – web3 is coming to gaming through play-to-earn. Play-to-earn games allow users to exchange NFTs, perform tasks, engage in fights and more through in-game assets that can be transferred into fiat currency. 

MagicCraft’s Exciting Game Drop

MagicCraft has just released its web3 play-to-earn features that are being implemented into their newly dropped game. After trial-running the features and receiving enthusiastic reviews, the company has launched them publicly.

The company has MagicCraft’s token, $MCRT, which players will get to use in-game. However, in this first release they will still need a Genesis Collection NFT to access all the play-to-earn features. The company makes token integration with the game safe and straightforward through an easy-to-use web interface that supports various crypto wallets. These wallets, including MetaMask, Binance Wallet, Coinbase, and any wallets hosted by Wallet Connect, give the gamer streamlined access to crypto-related features within the game. This allows users to pay tournament entry fees, receive any winnings, and withdraw and deposit funds from their wallets. 

MagicCraft sees play-to-earn gaming as a key way web3 can open up blockchain and crypto to gamers who aren’t as informed on the complexities of cryptography or investment. MagicCraft’s vision is for its pay-to-earn system to be an entry point for casual gamers to begin earning and learning the basics of crypto and blockchain, and the company believes it’s important that they constantly try to make things simple for crypto-naïve gamers to get involved.  This is why the company is planning on future releases that won’t make NFT’s a prerequisite for full game access. For now, MagicCraft is working on imaginative ways that it can allow access to the game for those without NFTs.

One feature MagicCraft already announced is the upcoming option to rent NFTs to gain entrance into the system and to join prize games. This means players with multiple NFTs could help those with none to enter through a rent-to-play-to-earn system. In this way, the company plans to continue leveraging any future game developments to promote crypto accessibility.

MagicCraft is committed to progressing the game in ways that create low-barriers to enter for all gamers who want to get involved in crypto and increase their control and ownership in web3.

Interested in playing, or just in learning more about MagicCraft? Visit its website.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

Featured photo by EKKAPHAN CHIMPALEE on Shutterstock 

This content was originally published here.