In an ever-changing world of Web3 and Blockchain technology, Triolith Games has found a number of potential issues that will slow down the development of games in this area. Taxes, gaming economies, loot systems, and how they’re handled to comply with regulatory bodies, will have a serious impact on how developers and gamers work with the sale of NFT’s and in game currency that can also be traded.
Whether a developer has knowledge of the regulations and the subsequent deflection of “they won’t bother about us” mentality or is naive of the compliance in the first place, it’s crucial to maintain a responsible approach, fostering a culture of awareness and adherence to established guidelines.
Our CEO has had a love for gaming since he was 14 and especially F2P, P2E and metaverse games later on in his life. When blockchain and NFT’s came about he realized that this industry would be massive, but he also saw that there are a lot of issues that need to be addressed. For example, most game developers don’t know or they ignore that they do need to follow regulations. Gamers are not properly protected against scams and many more issues.
The company and team has a long vision that spans more than 10 years into the future, and while we are starting small with adding different chains to our platform our long term vision is to build the base layer for everything web3 gaming and metaverses but done the correct way where the users build the universe, not companies buying a land slot from the developers but actually from the players that are online in the universe. Think Ready Player One, but open, decentralized and owned by everyone where anyone can create their own game, company and so on. This long term vision is however most likely several years away as the technology to achieve this is far from ready.
We assist game developers to focus on their game by handling compliance on their behalf. We provide them with SDKs and APIs, pre-made loot systems, and much more.
In the future we plan to develop a blockchain characterized by a layered and modular structure. In essence, our blockchain comprises a primary layer (L1) serving as the foundation, followed by secondary layers (L2's) each equipped with specific roles within the system. The motivation behind constructing this architecture stems from the absence of a singular blockchain capable of accommodating the diverse requirements of various gaming applications.