By launching its own play-to-earn game and integrating with emerging networks such as Cosmos, BLZ is preparing for the next GameFi surge.
The cryptocurrency market has had a less-than-stellar start to the year, and it appears that the downtrend that began after the November 2021 market peak has been extended as a result of a slew of negative developments, including the prospect of rising interest rates and the threat of war between Russia and Ukraine.
While many traders are hesitant to risk capital during bear markets, contrarian investors looking to buy while “there is blood on the streets” have several viable options, with data from various analysts indicating that Bluzelle, a decentralised storage network for the creator economy, is one token with an increasingly positive outlook. Market conditions for BLZ have been favorable for some time, according to data sources.
The launch of Denomination, the first play-2-earn (P2E) game on the Bluzelle network, has been one of the major developments driving interest in BLZ.
With the #Denomination launch upnext, we’ll be releasing exciting updates from the Denomination Whitepaper every week to help you with:
🔸Core Game Progression
— Bluzelle (@BluzelleHQ) January 17, 2022
Denomination is a real-time card battle game in which players compete against each other in player versus player (PvP) mode or against the environment in player versus environment (PvE) mode to earn tokenized rewards that can be used for governance or to buy non-fungible tokens (NFTs)
The game was created in collaboration with Starloop Studios, a professional game studio that has collaborated with some of the world’s largest game publishers. It also has a faction-based social system, a game shop, an NFT marketplace, loot boxes, and a treasury.
Coordination with Cosmos
Another development that is assisting BLZ in gaining traction is the project’s ongoing collaboration with Cosmos to help build out GameFi on the Cosmos Network.
With our continued development with @cosmos, we will also discover new ways to build out game finance in the Cosmos ecosystem 🎮
We’ll explore methods to work with other chains as we go through production.
Stay tuned, good things are on the way! 🚀
— Bluzelle (@BluzelleHQ) February 15, 2022
Despite the overall weakness in the cryptocurrency market, Cosmos has been one of the hottest networks in recent months, thanks to its rapidly expanding ecosystem of interconnected projects and newly launched protocols that have rewarded early adopters with airdrops.
Bluzelle’s GameFi capabilities could help the Cosmos ecosystem make a name for itself in the blockchain gaming industry.
Bluzelle’s developers have also expressed interest in integrating with other networks that could benefit from GameFi capabilities.
Related: Bluzelle introduces mainnet-based decentralised storage for NFT content.
Blockchain gaming’s popularity
The overall popularity of blockchain-based gaming and the P2E model is a third factor supporting the case for BLZ.
Gaming has long been one of the most popular and widespread sectors of the traditional economy, and the success of Axie Infinity demonstrates that blockchain gaming has the potential to vastly outperform traditional gaming.
Soon the same endless hours you spent playing video games growing up will be spent on blockchain games.
Here are the top 5 #GameFi projects under 50M market cap@DeRaceNFT @BluzelleHQ @splinterlands @RealChainGames @raini_coin pic.twitter.com/qXqDtuKXFC
— BSC News (@news_of_bsc) February 1, 2022
A focus on assisting in the expansion of GameFi across multiple networks, as well as the ability to process 10,000 transactions per second, are assisting in establishing the bullish case for BLZ moving forward.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.