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Satoshi’s Games Launches Elixir Marketplace for NFTs based on Bitcoin Rewards

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Satoshi’s Games has unveiled Elixir Marketplace, a non-fungible token (NFT) marketplace for games that enables players to earn rewards based on the Bitcoin cryptocurrency. The platform will be part of a larger publishing platform that blockchain game makers can use to encourage people to play.

The Elixir Marketplace is now live for people to trade in items from Satoshi Games’ upcoming 3D cartoon-like battle royale title, Light Nite, said Carlos Roldan. All of this is part of the trend towards the leisure economy, where one day we could make money playing games.

Roldan is the founder of the Alicante, Spain based company. He said the idea behind the company a few years ago was to provide instant liquid “micro-rewards” that sparked the creation of the first platform.

How it works

NFTs use the secure and transparent ledger of the blockchain to uniquely identify digital items, which can make them more valuable. Game companies are looking at NFTs as a new way to make money while giving players the advantage of being able to own and buy or sell the items directly.

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In other words, players could be paid to play games. In Light Nite, Bitcoin microtransactions add a new level of interaction as players can earn Bitcoin instantly when they shoot opponents and withdraw funds whenever they want, the company said. All of the items in the game have real value that players can give away or trade in so that they are in control of their game world, according to Satoshi’s Games.

Above: You can buy and sell NFT items in Light Nite.

Photo credit: Satoshi’s Games

The marketplace uses technology from the Liquid Sidechain, a settlement network for traders and exchanges that enables faster, more confidential Bitcoin transactions and the issuance of digital assets. It also uses the Lightning Network, a Layer 2 protocol that can work faster and offer two-way payments, allowing players to deposit and withdraw funds on a network. This allows for easier trading, such as hard currency in a free game.

It also uses the InterPlanetary File System (IPFS) to store images on a peer-to-peer network. And it uses the Lightning Service Authentication Tokens (LSATs), which enable a verifiable record of ownership of an asset to be tracked along with co-ownership and other verifiable authenticated events. That helps Satoshis Games replicate the behavior of NFTs and crypto collectibles across Bitcoin, Roldan said.

“We say that we are emulating the behavior of NFT standards because we can provide these traceability, authenticated co-ownership and verifiable exchange mechanisms, and add more functionality, such as:

Bringing all these services together is necessary to make trading in items easy, fast and inexpensive on the Bitcoin cryptocurrency, which has seen a value explosion and has established itself in the mainstream. Others who create such marketplaces are Sandbox, Immutable X, and Mythical Games.

“The choice of Bitcoin is strong,” said Roldan. “It is now and in our opinion it will be the safest, most liquid and most widely used cryptocurrency. And considering that the Layer 2 Lightning network is more scalable than Ethereum and is suitable for micro-rewards due to its immediate and near-zero-cost properties. No other platform offers these essential functions. “

Roldan said he considers Elixir to be the first Bitcoin-based NFT, as all of the others are based on Ethereum or other blockchains.

“Lightning was just born at the time, with the ability to transact a millionth of a dollar instantly and for almost free,” he said. “This has enabled a new level of interaction and trust between the players and the studio. Loyalty programs have been around for a long time in games as well as in many other industries. “

He added, “We have only replaced soft currencies with very small fractions of real bitcoin to compensate users for improving their skills in the game. Then, Earmarked Skins (NFTs) made their way onto the Bitcoin blockchain via Liquid, making it a great way for users to stay in control of their Bitcoin economy and easily jump from one game to another by selling and buying skins whenever they want. Markets that are based on verifiable offers create more trust among users and thus mobility rockets. “

Light Nite is a reward based game

Constant watch in Light Nite.

Above: Standing guard in Light Nite.

Photo credit: Satoshi’s Games

Roldan said the Light Nite game has around 3,500 people who pre-ordered the game. It currently has around 1,300 monthly active users in a pre-alpha version of the game, and those players asked the company to trade them for the tokenized in-game gear they got from the Battle Royale third-person Acquire Shooter.

“The NFTs in our titles aren’t just collectibles,” said Roldan. “We want our players to have more control and ownership over their in-game items and at the same time be able to use them digitally
Battlefield. “

Light Nite players can collect Bitcoin for good gaming. You can also get in-game gear that has been tokenized with Liquid. NFTs can be earned by playing, buying, or trading on the Elixir Marketplace. Users can also withdraw NFTs to their own wallets if they prefer to keep them.

A publishing platform for other developers

Satoshi's Games wants you to earn Bitcoin by playing games.

Above: Satoshi’s Games wants you to earn Bitcoin by playing games.

Photo credit: Satoshi’s Games

The Elixir Marketplace will eventually become part of Satoshi Games’ larger Elixir publishing platform due later this year. The platform enables any developer to publish games with features such as Bitcoin Micro-Rewards and Asset Tokenization. These functions have already been implemented in Light Nite, so fans of the title already have access to the marketplace.

Developers who upload their games to the Elixir platform will choose whether to offer satellite micro-rewards, asset tokenization, or both, Roldan said.

Satoshi’s Games has 15 people and raised $ 1 million. The company was founded in 2018.

“When we release Elixir, many developers will immediately understand the benefits of a new economic model that is natively built on the future mainstream digital currency and gives users a much higher level of freedom and mobility,” said Roldan.

To reach a mass market for blockchain games, Roldan said, “Many quality studios are already realizing that there are new ways to attract and retain users for them at a lower cost. Players claim more freedom, more confidence, and more open rewards. Elixir enables studios to offer their users all of this with greater profitability. So it will not be the technology itself (quite transparent for most users), but the convenience that will drive the mass market into this trend. “

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