New Delhi: Tegro, the popular Web3 marketplace for games, has announced a grant of $1 million for game developers on the blockchain-based Web platform. Alongside, the Indian platform has also unveiled a fresh set of economic frameworks that proposes the use of fungible tokens (FTs) as a core element of economy design. Touting Web3 games as the “next paradigm shift in gaming,” Tegro looks to build a sustainable Web3 gaming ecosystem and unlock a $2 trillion market in the process.
As per a press release from the company, game developers can apply for the Tegro grant and get up to $25,000 per project “with no strings attached.” Tegro also said that a founding team will offer guidance to successful applicants.
“Game development and publishing are in itself complex processes. Developers may not be completely conscientious of the slate of activities behind these words, let alone the complexities involved with building Web3 games with economies that are sustainable and can stand the test of time,” said Siddharth Menon, CEO and Co-Founder, Tegro.
With the grant, Menon looks to bring users a “new class of games worthy of actually being games, rather than a collection of poorly cobbled together websites and weak economies that eventually end up being rug pulls.”
Furthermore, the company also unveiled Tegronomics, which is a set of economic frameworks that game developers can employ to build a scalable and sustainable economy in their offerings.
Interestingly, the framework proposes the use of FTs as a core element of economy design, as opposed to non-fungible tokens (NFTs). Tegro says that the switch may help in increasing the frequency of trading and liquidity. The company also suggests that the FT switch may help in the easier deployment of large funds.