Kan, the Co-founder of video game streaming giant Twitch, has predicted initially that crypt-powered games will outrun the traditional gaming models reason being that players benefitting from truly owning (and being able to resell) items, plus rewards from tokenized economies and other potential perks. But the current technical hurdles can be a deterrent to players.
“I’ve always said the crypto gaming market will win when people want to play a crypto game, not because it’s a crypto game—they want to play because it’s awesome,” he said.
Yesterday, it was announced by the startup the sign-in with Fractal, a new feature that allows users to create a crypto wallet in some seconds Via a google account.
Bringing the new users into the Web3 world is a current issue for crypto and NFT platforms, owing to the complexities of the crypto wallet operation and taking custody of assets.
Onboarding Issue resolved
Overcoming this issue was not easy at all until the introduction of the Fractal a Solana NFT gaming platform thinks it has a solution that involves users’ existing Google accounts.
The process creates a non-custodial wallet—which means Fractal doesn’t hold users’ NFTs or assets—and then splits the wallet’s private key between the user’s device and Fractal’s servers.
“I think it’s a really necessary step to move beyond just the people who are maybe more crypto-native—maybe they’re more speculative participants in the market—to the people who are ‘real’ gamers,” Fractal co-founder Justin Kan told Decrypt.
The benefit of signing in with Fractal
- Fractal is designed to not only simplify wallet setup using an existing google login as explained above.
- Also designed to bring down the risk of users falling for phishing scams by tying the wallet to a familiar account. If a user is prompted by login at a fake Fractal knockoff website, the company suggests, they may be clued into the fact that it’s not an authentic Google login request as they would already be logged in.
- The Fractal wallet launch is not only for players. Kan showed a spike in developers shifting from the traditional game industry to web3 gaming and said that they are “obsessed” with customer acquisition and onboarding. He believes that the social sign-in will be an easier adaptation for them, much as it’s aimed to be for players entering the NFT space.
- Fractal was released in December 2021, and then in April, it was announced by the startup, the $35 million in seed funding led by VC Andreesen Horowitz. And presently the platform has 85 listed game projects spanning more than 120 NFT collections.
Fractal’s Test run
The site recently hosted a $10,000 esports tournament for EV.IO, an NFT-driven, play-to-earn first-person shooter, the event eventually yielded 15,000 new users for the platform.
As stated by Kan;
Magic Eden is the biggest overall NFT marketplace on Solana, in terms of total trading volume, he’s keen on keeping Fractal focused solely on the gaming end of the NFT space.
“Our goal is to be the best gaming place. We do a lot for our gaming partners,” he said, pointing to technical development on APIs, launch advice, tournaments, and more. “Ultimately, I’m just trying to build where I think gaming is going to go. That’s how we intend to compete.”