Polemos and Illuvium Join Forces to Democratize NFT-Based Gaming Through 'The Armory' Lending Protocol
Summary:
Polemos co-founder Richard McLaren announced a partnership between his gaming infrastructure service and fantasy battle game Illuvium that aims to make NFT-based gaming more accessible. The partnership will allow players to borrow in-game items via an NFT lending protocol dubbed “The Armory”. This "non-collateralized lending" could potentially lead to a significant increase in the market for game asset leasing, which McLaren anticipates could reach 30% to 40% of the $2.3 billion NFT gaming investment projected by 2023. The lending model also allows dormant assets to generate income.
The capacity to rent in-game items through blockchain technology, granting players critical tools for challenging levels or the chance to try out a new game, could be the future. This is the vision of Polemos co-founder, Richard McLaren, who sees gamers renting their game assets for a fee. In a conversation with Cointelegraph, McLaren disclosed an exciting collaboration between Polemos, his gaming support service, and fantasy combat game Illuvium. The partnership aims to simplify entry for players keen to get into Illuvium’s game. Blockchain games often demand players put up large capital sums from the outset, a problem this partnership seeks to address. Through their arrangement, newcomers can hire a Non-Fungible Token (NFT) briefly, easing their way into the game. McLaren believes this service will not only increase sales, but also draw new players. Furthermore, polemos' NFT lending protocol "The Armory", which doesn't need collateral and uses a pay-up-front system, allows users to borrow in-game assets without risk of damaging them. This broadens the scope of non-collateral lending to those without the capital to secure an asset. Despite seeming a niche sector, McLaren anticipates the overall market value for gaming asset loans could reach 30%-40% of the roughly $2.3 billion NFT gaming projected investment by 2023. This is because these rentals are part and parcel of marketing expenses for gaming studios. The lending model even affords long-time players and game studios with an abundance of in-game assets the chance to generate income from dormant assets. McLaren argues that the overall appeal of player ownership revolves around public infrastructure, not needing to depend on gaming studios. Thus, a third-party marketplace is akin to using NFTs. Polemos is now finalizing its strategic pre-sale for a native token expected to be launched halfway through 2024.
Published At
12/15/2023 4:15:36 AM
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