Richard McLaren, co-founder of Polemos, envisions a future for blockchain gaming where players and developers can lease their in-game assets, specifically NFTs, for financial gain.
Imagine a scenario where gamers use blockchain technology to rent in-game items. This would provide them with the necessary tools to overcome challenging levels. Additionally, they could borrow NFTs to explore new games on their wishlist.
This innovation is expected to become commonplace. Furthermore, McLaren envisions an ecosystem where players can rent out their in-game assets for a fee.
Polemos and Illuvium Partner to Ease Entry Costs in Blockchain Gaming
McLaren unveiled a new collaboration between his gaming infrastructure service, Polemos, and the fantasy battle game Illuvium. However, he believes this partnership will facilitate a smoother onboarding process for players entering Illuvium’s platform.
McLaren emphasized that the current challenge with blockchain games is the substantial upfront capital required from players. Moreover, the solution, he suggests, is allowing newcomers to rent an NFT for a brief period, providing a more accessible entry point.
The non-collateralized NFT lending protocol, named “The Armory,” introduced by Polemos, operates on a pay-up-front model. This negates the necessity for players to provide collateral when renting in-game assets.
Polemos Foresees Surge In-Game Assets NFT Lending and Decentralized Infrastructure
McLaren anticipates that game asset NFT lending could account for 30% to 40% of the approximately $2.3 billion invested in NFT gaming in 2023. He sees rental as a marketing expense for game studios, as players pay for assets not owned by the studio, creating incentives for players to engage with the game.
Additionally, the rental model offers advantages to both long-time players and game studios. It creates an opportunity for passive income from unused in-game assets. This, in turn, contributes positively to player retention.
When questioned about the preference for Polemos over creating in-house lending services, McLaren highlighted a key factor. He emphasized that decentralized public infrastructure eliminates the need for dependence on game studios. He stressed the allure of player ownership and the robustness of public infrastructure.
McLaren disclosed that Polemos is in the final stages of its strategic pre-sale for a native token scheduled to launch in mid-2024.
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