CoinMarketCap takes a look at Fractal — a Solana-based NFT gaming marketplace that is the latest startup of Twitch co-founder Justin Kan, alongside a stellar crew of serial entrepreneurs.
*Updated: the Fractal team has announced a hack of over 800 SOL in their Discord server, which currently has over 100K members. Please be careful when interacting in the Discord server or website.
What Is the Fractal NFT Gaming Marketplace?
Fractal is an upcoming non-fungible token (NFT) gaming marketplace slated to be launched by Twitch co-founder Justin Kan and a team of all-star cofounders on Christmas Day this year. The purpose of Fractal is to create a marketplace dedicated to gaming-related NFTs while focusing on transparency and security provided by the blockchain to authenticate unique digital items.
There are numerous ways to monetize content and video games these days, as numerous startups explore opportunities in this space. Play-to-earn gaming is one trend that keeps gaining momentum and helps people establish an income from playing blockchain-based games, a trend made popular this year by Axie Infinity.
Kan firmly believes that blockchain technology and Web 3.0 technology can provide gamers with a way to truly own their in-game assets, while game companies are able to build gaming experiences by leveraging on this platform. Furthermore, it aims to reduce dependence on existing marketplace platform owners taking a significant cut from profits. Running a marketplace and distributing NFTs has a cost associated with it, paving the way for new marketplaces like Fractal to disrupt the current ecosystem.
How Does Fractal Work?
The Fractal marketplace revolves around key partnerships with gaming studios directly dropping new NFTs on the platform. Players can buy these non-fungible tokens from gaming partners directly and explore sales put up by other users. These NFTs will include in-game weapons, characters, houses, cosmetics and other assets found in blockchain-based video games today. Fractal aims to become a primary and secondary marketplace for such NFTs.
Companies generate revenue by selling digital goods that provide in-game value to players in the current gaming world. Fractal positions itself as the first marketplace to solely focus on gaming NFTs. Moreover, Kan believes gaming is going through a major transition, and blockchain technology plays a core role in funding game development and how developers engage with their communities.
Launching NFTs ahead of launching the game has proven to be a viable fundraising method for game developers. Fractal will facilitate this approach and help reward the people who participate in gameplay early on. In addition, it creates new opportunities for existing and future gaming companies.
Additionally, Fractal will ensure all supported projects go through a verification procedure. Weeding out fake sales, inflated supplies and other nefarious ordeals is essential. Additionally, there will be a strong focus on discoverability for new projects and providing the necessary tools to make the minting of NFTs as straightforward, affordable and accessible as possible.
What Makes Fractal Unique?
The partnerships with existing and established game publishers bring a layer of legitimacy to the Fractal NFT marketplace. Moreover, the option for users to interact with developers directly and acquire NFTs from trustable sources provides core benefits. NFTs have tremendous potential to let gamers go beyond the game and monetize their approach to this form of entertainment.
Moreover, the marketplace is dedicated to gaming-related NFTs only. For now, it is a niche market, although one that has tremendous growth potential. Exploring opportunities in this field brings more mainstream attention to play-to-earn and blockchain gaming concepts. Moreover, it helps developers fund their games ahead of release by giving future players access to in-game rewards that would otherwise not be accessible.
Who is Partnering With Fractal?
Developers and enthusiasts will pay some attention when the co-founder of the popular streaming platform Twitch launches a gaming NFT marketplace. Moreover, the focus on metaverse accessibility is a hot topic today.
The team consists of an all-star cast of serial entrepreneurs — including Robin Chan, founder of XPD Media (acquired by Zynga); David Wurtz, cofounder of Google Drive; and Mike Angell, previously at Fast and Shopify. While they have deep expertise in gaming and eCommerce, Fractal needs strong partnerships to make an immediate impact and sustain its momentum.
The team has announced its first gaming partner — Aurory Project.
The first partners for Fractal include innovative games working on blockchain technology integration. These partners will bring exclusive NFTs to the marketplace. Every NFT will give players abilities and experiences within their upcoming games. Building a venture that attracts game developers will be crucial.
How Is Fractal Different From OpenSea?
NFT enthusiasts may draw a parallel between Fractal and that other popular NFT marketplaces, such as OpenSea. However, both ventures prove very different from one another. OpenSea is the largest NFT marketplace used by sellers, buyers and artists worldwide. It, too, caters to gaming-related NFTs, as it is the biggest marketplace and has the broadest appeal to investors.
However, Kan firmly believes NFT marketplaces will shift into vertical solutions, with platforms dedicated to one particular industry instead of providing access to everything. For example, there may be a marketplace for gaming and software specifically, although it remains unclear if Fractal becomes the go-to place for these non-fungible tokens.
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