Last year, erratic cryptocurrency prices and a number of high profile hacks stole the show when it came to media coverage of the blockchain industry. Meanwhile, a number of interesting blockchain projects continued to develop. One of those projects was the Ludos Protocol– a new blockchain gaming platform that’s specifically designed to solve the problems that plagued the first generation of blockchain games.
What is Ludos Protocol? The blockchain gaming solver
Blockchain can benefit games in a number of significant ways. For example, token-based game assets can easily be transferred from one game to another. That makes it much easier for game developers to give players the ability to transfer gold, guns, power-ups and other collectible items from one game to another. Moreover, these same items can be traded on any of the growing number of gamer-oriented cryptocurrency exchanges.
Despite these benefits, today’s most popular cryptocurrency platforms have limits in a number of ways. The main issue is that they are too slow and the transaction fees that players incur are too high. That’s where Ludos Protocol comes in. Ludos Protocol is much faster, cheaper to use and easier for game developers to work with compared to Ethereum.
CoinTracking interviewed Ludos Protocol COO Tai Jin to find out about his company’s goals for 2019.
CT: Thanks for meeting with me today. Can you give us some insight into Ludos Protocol’s origins story? How did you get the idea to create it and form the leadership team?
I’ve always been a video game nerd since I was a kid, and I was annoyed by many problems in the industry, such as how game operators could easily change the digital assets that are supposed to belong to the players. During my job at Zhenfund, one of the top angel investment funds in China, I learned about blockchain and token economy, and discovered how they could disrupt the traditional gaming industry. I also met the other co-founders during my job, who have diverse backgrounds in crypto investment, gaming, and big data. We agreed on the disruption that blockchain could bring to the gaming industry. Hence, we brought people Ludos.
CT: The recent crypto price slump has forced ETCDEV and a number of other notable blockchain businesses to sell the funds they raised through ICOs and shut down. How is Ludos Protocol weathering the storm?
First, we believe in the long-term value of blockchain and we were mentally prepared for the short-term storm before initiating the project. We raised enough funding in our angel round and managed the funding well enough to go through this storm. Moreover, we believe gaming will be the first massive adoption for blockchain, and this is one of the goals to strive for. We are also making gaming DAPPs with our partners both for cash flow and for our ecosystem.
CT: Would it be possible to port a popular Ethereum-based game like CryptoKitties to Ludos Protocol? How would these blockchain gaming platforms improve if they decided to make the switch?
It is definitely possible, we provide an entire toolkit for developers to help them either port their games over to Ludos, or build upon it, in fact they are incentivized to do so as all participants of the ecology, including developers, are rewarded with our native token. Any existing games would benefit from the faster speed provided by the sidechain system and the users would also be able to keep any existing assets they have accrued to date.
According to Jin, Ethereum-based games like CryptoKitties could run faster on Ludos. In 2017, the game caused the entire Ethereum network to grind to a halt. Source: CryptoKitties.co
CT: Besides laggy performance and high transaction fees, the other problem with blockchain gaming is that it’s hard to convert crypto to fiat and vice versa. Can you explain how Ludos Protocol plans to address this stumbling block?
We are negotiating with dozens of leading exchanges to help the liquidity of community members. One of our co-founders who has a background in the crypto community is relatively resourceful in the listing. Our LudPay wallet will also enable community members to use their LUD tokens to shop in thousands of retail stores in Japan following our strategic partnership with SoftBank Japan, FullPay Japan, and JMode.
CT: What features will the official Ludos Protocol wallet have and how close is it to being ready?
Currently, there is a porting DApp browser and sidechain game right now, it may need a beta test after this session. The wallet is designed to contain LUD, the internal DLV token, all NFT tokens from games, and various in-game assets. It is also what enables LUDPay, which is how gamers and users of the ecosystem can purchase real-life goods.
CT: Aside from INFUN’s war strategy game ImperialThrone, what other Ludos Protocol games are currently in development?
We are working on a number of titles at the moment, some of which built with our partner, MixMarvel.
- Decentralized Texas Hold’em.
- A Japanese style collective card game.
Products with MixMarvel:
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Disclaimer: All the information provided above is for informational purposes only and should not be considered as professional investment, legal, or tax advice. You should conduct your own research or consult with a professional financial advisor when investing.