ArenaPlay features a multi-layered ecosystem that includes a blockchain-based esports, gaming, and quizzes framework. This ensures that users, technology developers, and entertainment value creators can trust the platform. As the Arenaplay native token launches, here is an insight into what we can expect.
ArenaPlay Native Token Now on Binance
The listing of ArenaPlay’s native token, powered by the Binance Blockchain platform, was conducted on July 14. According to a statement released by the company, ArenaPlay has already raised over $2 million from various investors, including IDO (Initial DEX Offering). With the inclusion of a stable token called $MUSD, ArenaPlay now has a dual token economy.
Through the use of the MUSD stablecoin, users can exchange their $APC earned in-game rewards for the same amount on the ArenaPlay platform. The company claims this eliminates its need to sell and promotes its internal ecosystem.
Overview of White Paper
Although the white paper doesn’t explicitly state the concept of blockchain, it indicates a framework for making transactions secure and authentic.
The main asset of ArenaPlay is the APC token, a valuable and exciting digital asset that circulates various game assets. The exchange pass represents a high-value entertainment pass for game players and investors. Its pledge and liquidity mining can also provide a superior level of liquidity for the ecology.
The MUSD token is the main component of the ArenaPlay platform’s participation coin. All games on the platform can be exchanged for MUSD using the APC cryptocurrency.
Next, the white paper also mentions that competitive entertainment’s rapid emergence and evolution have increased the global market’s scale. According to the leading sports companies, the global competitive gaming market is expanding. In conclusion, if the market continues to grow, the estimated value of virtual goods and assets will also increase.
The number of gamers worldwide was 2.2 billion in 2020, and the global gaming market generated over $108.9 billion in revenue. Virtual goods were the primary source of this revenue accounting for 67% ($72.9 billion) of the entire revenue.
Key Takeaways & Potential Outcome
ArenaPlay is a cross-chain and smart contract platform that uses zero-knowledge proof technology. This makes it an ideal alternative to rival blockchain companies. Its various account mechanisms and features allow it to maintain a high level of anonymity with transactions.
In addition, ArenaPlay is on a simple and secure platform, which allows it to integrate with the world’s fastest blockchain, Binance. With the help of this platform, ArenaPlay can potentially achieve a performance of over 1,000TPS (Transactions Per Second).