StarTerra Rebranded to GameSwift a Game Changer in GameFi

The game industry has been significantly impacted by Web3. Web3-based games enable players to interact with the games in creative and decentralized ways, which is a significant change from traditional gaming platforms. Cryptocurrencies and NFTs allow users to play to earn. By revolutionizing all facets of gaming, this removes the need for a single central authority to control everything and instead gives the player control over everything.

Game developers own the copyrights to in-game content. Though in traditional gaming, in-game items can be bought with real money or claimed as rewards, players do not own those in-game items in the actual sense. In other words, player ownership in traditional gaming is merely a type of permission to interact with the game’s features.

Furthermore, all data associated with centralized gaming servers are kept on servers that are entirely under the authority and management of game administrators. In traditional gaming, developers lack the ability to monitor and approve incentive-yielding transactions between players.

Web3 gaming offers the gaming industry fair virtual marketplaces where users may access and fully own in-game digital assets. These assets are unique in that they are mostly kept in the form of gaming NFTs.

By connecting the in-game assets and players across platforms, Web3 gaming also offers a wide range of interoperability among different gaming ecosystems. The blockchain technology that is chosen to create a gaming ecosystem will definitely have an impact on interoperability.  

StarTerra and its Evolution

StarTerra, the first and largest launchpad in the Terra ecosystem, became well-known for gamifying the process of funding new projects, and by making numerous advancements in the crowdfunding sector. It introduced solutions like an automated allocation system, prizes for top performers, and other innovative features. The new funding strategy, IDO (initial DEX offering) attracted more investors than DAO Maker, on average, resulting in what we now know as the biggest platform in the web3 ecosystem.

StarTerra uses STT as its native token. As more people acquire IDO tokens, demand normally declines. Due to the fact that StarTerra does not want this to occur to STT, it has adopted deflationary tokenomics (30% of transaction fees are spent burning STT). The platform has also made successful moves to increase the number of use cases for STT.

StarTerra has completed a rebranding process and is currently shifting to its own chain built with Polygon’s technology. Additionally, the company has modified its business plan, concentrating majorly on the web3 gaming sector, and rebranding as GameSwift. As part of the collaboration, Polygon provided the GameSwift team with a special financial incentive, making GameSwift the ecosystem of first preference for any web3 games built on Polygon.

GameSwift

GameSwift is an innovative product that is completely changing the web3 gaming sector. The platform offers all the components required to launch a true web3 game. It provides a completely decentralized and community-driven environment. It serves as both an all-round platform for game developers and gaming studios, offering all the resources required to introduce web2 games into the web3 space. Furthermore, it serves as a community space for true gamers who want to participate in the cryptocurrency community and join the web3 movement.

GameSwift was created as a result of the fusion of decentralized financial technology, powerful blockchain innovation, gaming passion, and technical expertise. With the help of these enabling technologies, GameSwift presents the web3 gaming of the future, where having fun and earning money work seamlessly together.

Utilizing experts in the blockchain industry and other crypto enthusiasts, GameSwift aims to bring major changes to the world of gaming. The platform seeks to create a vast ecosystem with all the tools and resources the gaming industry could possibly need. Some of the major products that are part of the GameSwift ecosystem and will also be launched soon include:

• GameSwift Chain
• GameSwift Analytics
• GameSwift ID
• GameSwift Extension
• GameSwift Launcher
• GameSwift Bridge
• GameSwift Studios

These are just a few of the products stipulated to be released soon.

The fundamental business of GameSwift changed in response to market demands. Since 2020, the blockchain-based web3 gaming sector has been growing rapidly, and the future of the industry is quite promising. Investor contributions to new web3 projects reached $1 billion in January 2022 alone, which is 25% more than in 2021. By the end of this year, web3 gaming would have, undoubtedly, received a record number of new investments.

Explaining GameSwift’s new direction, one of the company’s top-shots, Katarzyna Dyrcz, said:

“Gamification has been inherent in our project since the very beginning. So the natural direction of development for us is the areas of web3 gaming. That is why we decided to change our business core and focus primarily on these segments.”

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