Overcoming Challenges in Web3 Gaming: Interview with RACE Protocol's Co-Founder

17 Apr 2024

The web3 gaming industry is witnessing a significant transformation. According to a report by ZipDo, the global web3 gaming market surpassed $2 billion in 2021, then by 2022, it was expected that global spending on blockchain games could reach $3.2 billion. Industry executives predict that 2024 will be more eventful for the blockchain gaming niche. They believe that there will be an increase in blockchain-based games released in 2024.

On the other hand, the blockchain gaming market is also experiencing significant growth. A report by Fortune Business Insights highlights that the blockchain gaming industry is expected to reach $154.46 billion by the end of 2024. Also, by 2030, the market size could reach $614 billion, with a Compound Annual Growth Rate of 21.8%.

However, this growing industry is not without its challenges. Trust issues, security concerns, and a lack of robust development tools are some of the hurdles that need to be overcome for the industry to truly flourish.

Our speaker today is a speaker who saw these challenges not as roadblocks, but as opportunities for innovation. In this interview, I will be speaking with Art Sachko, the co-founder of RACE Protocol. He will share insights on the challenges faced by the web3 gaming industry, including issues of trust, security, and limited development tools. We'll explore how their project aims to address these challenges. The discussion will also delve into the significance of NFT pre-sales in bootstrapping gaming ecosystems, the benefits for early community members, and the measures taken to ensure fairness and security for players.

What inspired you to create RACE Protocol and address the challenges in the web3 gaming industry?

The inspiration for RACE Protocol stemmed from recognizing the immense potential of web3 gaming but also acknowledging the significant challenges hindering its widespread adoption. Issues like lack of trust, security concerns, and limited development tools were preventing both builders and players from fully embracing the possibilities of blockchain-based games. We envisioned a solution that would address these challenges and create a more accessible, secure, and fair gaming ecosystem for everyone.

How does RACE Protocol differentiate itself from other blockchain gaming platforms?

RACE Protocol distinguishes itself through several key features:

  • Multi-chain support: We're not limited to a single blockchain, offering flexibility and wider reach.
  • Transparency and security: On-chain data storage and P2P randomization ensure trust and fair play.
  • Extensibility: Decoupling game logic from the frontend allows for diverse UI/UX and platform integrations.
  • Community-driven: We prioritize community involvement through governance, DAO benefits, and infrastructure contribution incentives.

Moreover, one of the products that we are building includes a no-code on-chain app & game editor plugin that allows anyone to build and launch fully-functional & complex decentralized apps even with no or limited coding experience.

Can you explain the significance of the RACE Heroes NFT Pre-sale for the project's ecosystem?

The RACE Heroes NFT pre-sale is crucial for bootstrapping our ecosystem. It provides initial funding for development, marketing, and community initiatives. Additionally, it establishes a core group of early supporters who will benefit from exclusive utilities and contribute to the platform's growth.

What benefits and incentives can early community members expect from participating in the pre-sale?

Early community members participating in the pre-sale will enjoy various benefits, including:

  • Free mints: Depending on their role and contribution, they can receive 1-3 free RACE Heroes NFTs.
  • Revenue sharing: They'll receive a portion of fees generated across the Solfast initiative, Race poker, and the protocol itself.
  • Gaming benefits: Exclusive access and perks within RACE-developed games and incentives from independent developers.

Protocol benefits: Fee multipliers for contributing to infrastructure and reductions/waivers for publishing games.

How do you plan to attract and support game developers to build on the RACE Protocol platform?

We plan to attract and support game developers through:

  • Comprehensive SDKs: Providing easy-to-use tools for integrating with the protocol and building game logic.
  • No-code blockchain app/game editor plugin: expanding to ocean blue of creators that have limited or no understanding and/or coding experiences with blockchain apps.
  • Open-source resources: Sharing example implementations and documentation to facilitate learning and development.
  • Community grants & hackathons: Offering financial support for promising game projects built on RACE Protocol.
  • Revenue sharing: Enabling developers to earn a portion of fees generated by their games.

What measures have you put in place to ensure fairness and security for players on RACE Protocol?

We ensure fairness and security through:

  • P2P randomization: Preventing manipulation of random outcomes by any single entity.
  • Encrypted communication: Protecting hidden knowledge and ensuring fair play in asymmetric games.
  • Smart contract control: Guaranteeing secure and transparent fund flows without centralized intermediaries.
  • Community-driven governance: Empowering the community to participate in decision-making and maintain the integrity of the platform.

How do you envision the future of web3 gaming, and what role will RACE Protocol play in shaping it?

We envision a future where web3 gaming is mainstream, offering players true ownership of their assets, interoperability across platforms, and new economic opportunities. RACE Protocol will play a pivotal role in shaping this future by providing the infrastructure and tools necessary for developers to build innovative and trustworthy games that players can enjoy with confidence.

What gamification features can users look forward to within the RACE Protocol ecosystem?

We're excited about gamification features like:

  • Upgradable NFT traits and visuals: Allowing players to personalize and enhance their RACE Heroes NFTs also resulting in different economic outcomes on game & protocol levels.
  • Leaderboards and achievements: Fostering competition and rewarding active participation within the ecosystem.
  • Community events and challenges: Creating engaging experiences and fostering a sense of community among players.

Can you share your thoughts on the current state of the NFT market and its potential for growth?

The NFT market is still evolving, with both challenges and opportunities. We believe NFTs have the potential to revolutionize various industries, including gaming, by enabling true ownership of digital assets and creating new avenues for value creation and exchange. As the market matures and infrastructure improves, we expect to see continued growth and innovation in the NFT space.

How do you see RACE Protocol contributing to the broader adoption of web3 technologies?

RACE Protocol contributes to broader web3 adoption by:

  • Lowering the barrier to entry for game developers: Making it easier to build and deploy blockchain-based games.
  • Providing a user-friendly experience for players: Offering a familiar gaming experience with the added benefits of web3 technology.
  • Demonstrating the potential of web3 gaming: Showcasing the possibilities of ownership, interoperability, and new economic models in games.

How does RACE Protocol collaborate with other projects or organizations in the web3 space?

We actively collaborate with other projects and organizations in the web3 space, including:

  • Blockchain platforms: Working with different blockchains to ensure compatibility and expand our reach.
  • Wallet providers: Integrating with various wallets to provide seamless user experiences.
  • Game developers: Supporting and collaborating with developers building on RACE Protocol.
  • Metaverse platforms: Exploring integrations to bring Race games to virtual worlds.

What milestones do you hope to achieve with RACE Protocol in the next 6-12 months?

Our key milestones for the next 6-12 months include:

  • Launching the RACE Heroes NFT collection and activating its utilities.
  • Onboarding a diverse range of game developers and supporting their projects.
  • Expanding multi-chain support and integrating with additional platforms.
  • Developing and implementing community governance mechanisms.
  • Growing the Race community and fostering a thriving ecosystem of web3 games.