Ulti Arena has announced the launch of its NFT Marketplace gaming assets. The marketplace will be exclusively for game assets, providing more utility for them apart from being deployed in games alone.
Ulti Arena is poised to provide a platform for game developers, artists and independents to showcase their portfolio of assets, user interfaces and music, sharing the value between them.
The Booming Gaming Industry
The gaming industry has witnessed unprecedented growth following the emergence of play-to-earn games.
The integration of blockchain technology and a token economy in games has spurred more growth. Interestingly, in-game items (2D/3D characters, weapons, sprites, music, sound, user interfaces) are now tradable as non-fungible tokens (NFTs) across various marketplaces, increasing their use cases.
While this development is commendable, it becomes difficult to trace these items back to their original creators as they are spread across different markets. In addition, artists and creators are unable to account for the usage of their assets in games or animations, which makes them lose money that they would have earned as royalties.
Enter the Ulti Arena
Ulti Arena aims to fill this gap and more by providing a community where artists and creators of all kinds could not only share their works, but also ideas and other forms of value with each other.
The solution Ulti Arena is proffering revolves around non-fungible tokens (NFTs) – a unique asset class currently gaining traction. Using them, artists and developers can easily track their assets across different channels. NFTs provide a new income stream for artists and developers such that their assets can be sold as unique pieces to buyers who bid on them.
Unlike other marketplaces which are sort of general, Ulti Arena focuses on gaming items. Currently, the Ulti marketplace operates on Binance Smart Chain (BSC). However, by late November, Ulti Arena expects to expand to Polygon to attract users from other chains such as Ethereum, including users from OpenSea, the largest marketplace within the NFT ecosystem.
Extend use cases
Ulti Arena expands the use cases of its niche-specific NFT marketplace by adding features that allow artists to create customizable storefronts based on their theme, color, and URL preferences. Thus, their profile is easily identifiable such that they can partner with other artists or developers to create the next A-list game.
Ulti Arena also initiates discussion forums for gamers or gaming enthusiasts within the community. By participating, they get ULTI tokens – the native and governance token of Ulti Arena. These tokens will become tradable on crypto exchanges, thereby providing passive income for gamers.
To increase the usefulness of ULTI tokens, the team introduced a concept of proof of play, providing a consensus mechanism for users to earn tokens for playing games in the ULTI metaverse – a game of blockchain up for grabs designed to pivot the Ulti Arena ecosystem.
The amount of ULTI tokens each player earns is dependent on the in-game stats, such as kills, support, experience, etc. The better the players perform, the more they are going to earn.
