The Xai Foundation, a core contributor to the gaming-centric blockchain network Xai, along with Outlier Ventures, a leading global Web3 accelerator and investor, recently announced the successful completion of the pilot phase for the Xai Tokenomics Bootcamp. Two gaming titles, including the highly anticipated game “The Lost Glitches,” successfully completed the program. The Xai Tokenomics Bootcamp aims to provide extensive expertise and streamline the development process for new Web3 titles, as well as support the transition of existing Web2 games into a Web3 framework.
Xai is set to support developers joining the Bootcamp with an impressive roadmap of planned game releases and project funding to integrate developers into the Xai pipeline. Participants can also leverage Outlier Ventures’ deep knowledge, skills, and best practice frameworks developed over several years. The Bootcamp emphasizes the core benefits of building in Web3, such as game-asset ownership and interoperability, in-game token utilization for a more transparent economy, player rewards and incentive designs, and enhanced security and transactional cost-efficiency.
Addressing the Challenges of Web3 Game Development
Tobias Batton, Founder and CEO of Ex Populus, highlighted a significant challenge in Web3 game development: most developers come from Web2 backgrounds with little understanding of how to implement a game on-chain. Batton expressed that the partnership with Outlier Ventures allows the Tokenomics Bootcamp to equip developers new to the space with the necessary tools to build the next generation of games, thereby supporting a steady influx of new Web3 games created by some of the best developers in the industry.
The collaboration between Outlier Ventures and Xai brings together Outlier Ventures’ extensive experience and Xai’s expertise. Developers participating in the Bootcamp range from Web2 gaming studio leads new to the Web3 industry to seasoned developers looking to accelerate their Web3 knowledge and skills. The program aims to enable these developers to implement token-based mechanics into their game designs within a span of less than six weeks.
Revolutionizing the Gaming Industry with Web3
Dimitrios Chatzianagnostou, Head of Investments and Cryptoeconomics at Outlier Ventures, expressed admiration for Xai’s rapid growth in the Web3 gaming space over recent months. Chatzianagnostou emphasized Outlier Ventures’ belief that Web3 will revolutionize the gaming industry by offering players true ownership of in-game assets, enhanced security, and new economic opportunities through blockchain technology. He conveyed excitement about the partnership with Xai, which aims to provide collective expertise and a vast industry network to support both Web2 developers transitioning to Web3 and seasoned Web3 game developers.
The Xai Tokenomics Bootcamp is designed to provide developers with a comprehensive understanding of Web3 game development. It focuses on the key advantages of Web3, such as game-asset ownership, interoperability, transparent in-game economies, player incentives, and improved security and cost-efficiency. By addressing the gap in knowledge for Web2 developers and enhancing the skills of experienced Web3 developers, the Bootcamp aims to foster a new generation of innovative Web3 games.
As the pilot phase concludes, the success of the Xai Tokenomics Bootcamp demonstrates the potential for significant advancements in Web3 gaming. With continued support from Xai and Outlier Ventures, developers are poised to push the boundaries of what is possible in the gaming industry, leveraging blockchain technology to create more engaging, secure, and economically viable gaming experiences. The initiative marks a crucial step towards integrating Web3 principles into mainstream gaming, potentially transforming the industry landscape in the years to come.