Klaytn Launchs Fee Gas Cut Initiative For Web3 Gamers

JAKARTA Klaytn (KLAY), a blockchain focused on developing the South Korean metaverse and gamefi, recently launched an exciting program that allows Web3 game developers to apply affordable transaction fees (gas fee) on its network. Of course, this is a positive initiative for Web3 gamers.

Web3 gamers have to buy cryptocurrencies first to pay for gas fees before playing games. Meanwhile, transaction fees on the Ethereum network have soared significantly following the printing of the OtherSide NFT.

Fortunately, Klaytn issued an initiative for Web3 gamers. The South Korean crypto company plans to provide gas fees for gamers and developers who build the network. Klaytn issued the announcement on September 28.

Interestingly, Klaytn offers a KLAY token worth up to 100,000 US dollars to cover the gas fee for gamers and contract fees for developers every month. Later, selected and eligible gaming companies can get a 100 percent gas fee cut. This will take effect from January 1, 2022 and beyond.

This initiative will allow game companies to focus on their ecosystem growth, while gas costs are offset by Klaytn Growth Fund. Klaytn has advocated lower gas fees for Web3 gamers. Previously introduced a gas fee delegation feature that allows crypto companies to pay user gas fees.

According to Klaytn, the gas fee support program is aimed at helping eliminate gas fees that hinder the wider adoption of Web3 games.

According to David Shin, head of the Global Group Klaytn Foundation, stating that this initiative is part of Klaytn's vision of building a more dynamic gaming ecosystem to reach more gamers.

"Through this gas fee cut program, we hope to provide more players with the opportunity to explore the wonders of the Web3 game," Shin said, quoted by CryptoSlate.

For information, Klaytn has entered into a partnership with leading game companies Netmarble and Neowiz. The two game manufacturers will float Web3 games on the Klaytn network.

In recent years, Web3 games have experienced a significant increase. This was revealed by the analytics platform Footprint Analytics which shows an average of 1.03 million users are involved in Web3 games. This is capable of generating around $1 billion per day.

Furthermore, Footprint Analytics revealed that the growth of GameFi by 28 percent was dominated by the games Spliterlands and Alien World. However, the decline in the crypto market has also affected the growth of this GameFi. A number of giant companies such as Animoca Brands, Limit Breaks, Ubisoft, and Netmarble have entered the Web3 game.