Cryptocurrencies and blockchain are the new wave in the fintech space, but they are also going mainstream with every passing day. The rise in the price of Bitcoin, along with that of other crypto tokens, has drawn a lot of attention over the past year, and more and more companies and businesses are beginning to realize that crypto is the way forward, and are therefore looking at ways to incorporate these technologies into their operations. Sectors, as varied as healthcare and sports, are considering crypto to change and revolutionize their operations, while those who largely operate online are the ones able to see these benefits the quickest. In that regard, it is perhaps no surprise that the world of gaming is looking at blockchain very seriously, and an upcoming gaming platform is set to bring blockchain into mainstream gaming very soon.
Lepricon is that platform – it is a predictive gaming operation that is going to be launched sometime later this year, and according to CEO Joshua Galloway, gaming will be the first sector to take blockchain into the mainstream space. Lepricon will have multiple ‘layers’ in that sense – players will first be able to play casual prediction-based games that are quick and easy to learn, and will then slowly be exposed to the decentralized finance (DeFi) aspects of the platform, where players will be able to earn by betting or by swapping tokens with other users on the platform. Lepricon will have its own token, L3P, which will be used on the platform, and while the two sides of this operation will be separate, there will be a lot of interlinking between the gaming and the DeFi components.
This is not the first venture to try using blockchain and crypto in gaming online. There are several operators in this online space who have already begun using these technologies in their operations. The most prominent of these are in the online gambling space, where a number of online casinos offer players the opportunity to use crypto to place bets. LTC casino games have become quite attractive as a result, and it is just one of the variants, with other cryptocurrencies available for use as well. Some of the best new crypto games to play this year are going to be these crypto gambling games, and with more game developers and studios looking to enter this space, players and enthusiasts can expect more excellent content to come their way as the year goes on.
However, Lepricon is unique in that it is looking to develop both its gaming and DeFi operations over time. Holders of L3P will be able to vote on certain parameters and offer suggestions over time, as Lepricon transitions to become a Decentralized Autonomous Organization. Secondly, the platform will also make extensive use of non-fungible tokens (NFTs), both as collectibles as well as proof of status in its system. The first NFT, for example, is being called Genesis and will represent the highest status level in the system, with just 77 of them being mined for the first participants. These tokens will confer several bonuses and advantages to their holders.
One of the biggest concerns for Lepricon is the speed at which transactions will take place, since blockchain networks are notorious for their slow speeds, and therefore it has already announced a partnership with RioDeFi to use their Polkadot parachain, RioChain. This will allow Lepricon to process over 3000 transactions per second, and also offer extremely low transaction fees, both of which will increase its appeal with players looking for instant results. Outside of these issues, Galloway is confident of his platform’s prospects, as well as that of the wider gaming space as it looks to bring in aspects of blockchain and crypto, with the benefits being clear to see as such collaborations increase.