NEM (XEM), a cryptocurrency project building a network designed for better-performing smart assets, has joined several other major blockchain platforms by targetting gaming as a major pillar of user acquisition.
Toward that end, NEM has begun to highlight major XEM-fueled platforms and dapps focused on gaming, with the most recent being Xarcade, a video game distribution and exchange platform for both game publishers and gamers.
Many have wondered how blockchain technology will change the way we do things. Xarcade @xarcadeofficial shows us how to do it in gaming. Know more about them at https://t.co/uZr42Csmsu. #Xarcade #NEM #Blockchain #NEMecosystem #NEMprojects pic.twitter.com/Jmkrj7J8cd
— NEM (@NEMofficial) December 2, 2018
According to Xarcade’s website, the project is building a decentralized version of Steam, where games are built on and uploaded to the NEM blockchain through the use of the Xarcade Software Developer Kit (SDK).
Similar to platforms like VeChain-powered Plair and Ultra, the Xarcade platform aims to reduce costs for both game developers and gamers by reducing the fees associated with centralized middlemen, which generally take a 30% cut of all sales.
Xarcade is fueled by a token (XAR) that is designed to be consumed and is pegged to the euro. This stability is designed to provide publishers with a steady revenue stream — tokens will be easily convertible to XEM or BTC on public exchanges. XAR was initially distributed via a private sale, and no public ICO will be conducted.
The first two games highlighted by Xarcade include Send ’em to Hell, a mobile game published by Xhai Studios, and Outbreak, a Tron-inspired arcade shooter and runner game published by Synthetic Games.
Other major blockchain projects have recently started to focus on blockchain gaming applications, include Waves (WAVES), which launched a nearly $2 million fund (1,000,000 WAVES) dedicated to building games on its network, and TRON (TRX), which announced its own $100 million development fund last week.
XEM is currently down 2.4% on the day to $0.07768, giving the altcoin a $699.1 million market cap and making it the 14th largest coin in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.