Daily Insights: Updates on Crypto, Blockchain, NFTs, Web3, and Play-to-Earn Gaming

In July 2023, Michael Sanders, a co-founder of Horizon, addressed the challenges faced by game developers in integrating Web3 technology seamlessly. His presentation at Pocket Gamer Connects Toronto highlighted innovative solutions to enhance the user-friendliness of games while addressing issues such as wallets, gas fees, and in-game markets.Central to Sanders' discussion was Horizon's vision of creating a gaming ecosystem accessible to all players, regardless of their blockchain and cryptocurrency knowledge. The aim is to cultivate a diverse and engaged player base, ensuring that the integration of Web3 technology does not alienate those unfamiliar with the field.The success of Horizon's flagship trading card game, Skyweaver, now in open beta, demonstrates the realization of this vision. Skyweaver's large player base and active community validate Horizon's approach to making Web3 accessible and enjoyable for a wide audience.Sanders delved into the challenges of incorporating blockchain technology into games, emphasizing wallet management, non-secure payments, and high gas fees as significant hurdles. Horizon introduced Sequence, a groundbreaking Web3 technology solution, to address these issues.Sequence simplifies wallet creation and onboarding by offering a smart contract wallet that allows users to sign in using their existing social logins or authentication systems, reducing barriers to entry.Sequence also offers diverse wallet solutions, including universal and application-specific wallets, catering to both non-custodial and semi-custodial preferences, providing users with flexibility and choice.To tackle the issue of high gas fees, Horizon introduced a "transaction relayer" that allows game developers to cover transaction costs on behalf of users, eliminating the need for users to possess cryptocurrencies to pay gas fees.Horizon's creation of the ERC-1155 semi-fungible token standard (SFTs) addressed the limitations of NFTs, particularly concerning video game items that require multiple copies. SFTs facilitate the creation of multiple copies of in-game items, making them ideal for trading cards, skins, weapons, and materials.Many Web3 games, including Skyweaver, have adopted the ERC-1155 SFT standard, demonstrating its effectiveness in managing and trading various in-game assets. SFTs also add liquidity to the ecosystem, facilitating market growth and encouraging player interaction.Sanders emphasized the significance of in-game marketplaces in enhancing user engagement. In contrast to third-party marketplaces, in-game marketplaces offer a seamless and integrated experience, reducing distrust and friction, ultimately boosting user retention.Looking ahead, Sanders highlighted the ongoing need to improve Web3 technology's integration into gaming for a better player experience. The focus remains on simplifying and securing trading processes, making Web3 applications more accessible to a broader audience. Horizon and Michael Sanders are at the forefront of seamlessly integrating Web3 into the gaming world, making it more inclusive and captivating for everyone.Sanders' ideas and Horizon's contributions underscore how Web3 integration could revolutionize the gaming industry. Their player-centric approach, featuring user-friendly solutions, innovative token standards like ERC-1155 SFTs, and integrated in-game marketplaces, has the potential to reshape how people engage with games. Sanders and Horizon are paving the way for a future where Web3 and gaming harmonize, bridging the gap between traditional gaming and new technologies.