- Algorand has joined Blockchain Game Alliance that comprises leading gaming and Blockchain firms. The BGA seeks to promote Blockchain tech to the lucrative gaming realm with over 2.5 billion gamers as of 2019.
News has now surfaced that Blockchain solutions firm, Algorand has onboarded mega Blockchain Gaming Consortium, the Blockchain Game Alliance (BGA). The July 2nd announcement was posted on their website.
We are thrilled to join the @BGameAlliance and work alongside those who are disrupting the #gaming industry and accelerating #blockchain adoption! Learn more about our partnership with the BGA here: https://t.co/tq0jYqIiSN pic.twitter.com/OBB4f8UEph
— Algorand (@Algorand) July 2, 2020
Founded in 2019, the coalition boasts of an impressive member list comprising of gaming and Blockchain big shots such as Ubisoft, AMD, Animoca Brands, MakerDAO, ConsenSys, Enjin and Matic Network. They seek to foster the uptake of Blockchain tech in the gaming industry, with Algorand highlighting that gamers have always been at the forefront of embracing the latest tech.
The BGA has an open chat forum for gamer communities consisting of developer companies and gamers where they get to interact and discuss standard routines and network.
The American based start-up that was launched in 2017, cited that they will look to solve scalability crunches facing the gaming industry that has approximately 2.5 billion gamers globally as of 2018–2019. Their Blockchain solution will improve the network speed to unleash futuristic gaming scenarios, create non-fungible tokens (NFT), new monetization models, and communal possession of their gaming ecosystem.
Algorand Marketing programs lead, Shamir Ozery is optimistic that their alliance with the BGA will advance cognizance and escalate the adoption of Blockchain technologies. They intend to unleash new ways of gaming, publishing game-play and build staunch communities around the games.
Notably, Algorand recently worked jointly with the FIDE online Arena, the online platform for the World Chess Federation. They were tasked with digitally warehousing the official chess grading in a tamper-proof environment as the online platform was unleashed.
The platform has so far hosted over 5 million chess matches with the maiden launch being honored by a chess match pitting Algorand founder Silvio Micali against Chessmaster Sergey Karjakin. The CEO of World Chess remarked at the decision to move to Blockchain, opined that it would increase transparency levels in record keeping.
Meanwhile, the ALGO is trading at $0.204960, as at the time of writing with a total market cap of $158,191,535, placing it 52nd on Coingecko listing. ALGO’s trading volume is also impressive at $23,260,769 in the past 24 hours with 771,817,007 ALGO in circulation as per this writing.