Ethereum has a lot of tokens – tens of thousands in fact. In the poly-token era, there is a token for everything. Gaming is no exception. On the surface, therefore, QWAN, a token supporting a decentralized economy for gamers, would appear to be late to the party. Maybe so, but there is enough about the project to suggest it has the potential to dominate its sector and to become Ethereum’s de facto gaming asset.
Let the Games Begin
The case for creating a universal digital currency for gamers is a compelling one to say the least. There are over three billion of them, they’re tech literate, and there is a significant crossover with crypto holders. If anyone is going to “get” crypto, it’s gamers.
This unbridled potential, however, has to be countered with the acknowledgement that thus far a universal gaming token has yet to emerge. This is surprising given the number of attempts at fostering a token-based mechanism for social sharing and driving positive economic behaviors. Creating a widely adopted gaming token is in itself a game that has yet to claim a winner.
So what does QWAN possess that affords it a realistic prospect of triumphing where other tokens have foundered? Well, for one thing it’s got the requisite ecosystem partners onboard, which is imperative when launching a project of this magnitude. Gaming platform and marketplace Banger will be supporting the QWAN launch, while web3 advisory and solutions provider Horizen Labs Ventures (HLV) is supplying strategic advice.
The strongest argument in favor of QWAN succeeding, however, is that it is not allowing itself to be pigeon-holed into niche communities or specific gaming categories. GameFi is a broad term incorporating any type of game that includes a blockchain component, and QWAN’s architects have deliberately targeted as wide an audience as possible.
When Token, Why Token?
On May 31, QWAN will be listing on a series of exchanges including MEXC, AscendEX, and BTSE at a starting price of $0.15. Thereafter, it’s a case of watching to see how its ecosystem expands and use cases evolve. The idea is that gaming communities and projects will choose to integrate QWAN due to the token’s ability to align economic incentives between participants. As an open and permissionless digital token, anyone can build with it, trade it, or create games that utilize it while tapping into the network effects that come from having a broad and distributed ownership base.
“We are excited about QWAN and its potential to positively impact and shape game economies, powering new utilities and a community-led governance that can appeal to existing web2 gamers,” says HLV’s Rohan Handa. “With the gaming token being adopted and integrated by the Banger platform, we believe QWAN can onboard the next wave of users to web3 and push the gaming industry forward.”
That’s the bull case for QWAN. The more gaming communities it enters, the stronger it will become. It will take time for this vision to manifest. But the rewards, if QWAN can fulfill its ambitious objective of reaching millions and ultimately billions of gamers, are huge.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.