SAGA is a Layer 1 protocol launched by Binance, which cooperates with multiple Layer 1 protocols to expand infrastructure. Its business model is to distribute block space to downstream demand parties, using a unique "musical chairs pricing". In addition to SAGA, modularization + GameFi is becoming a new narrative direction for the crypto market.
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Recently, Binance launched SAGA, which once surged and attracted market attention. So what is the innovation of SAGA? Further observation shows that crypto modularization + GameFi is becoming a new narrative in the crypto market. So besides SAGA, what other projects are worth paying attention to?
What is the innovation of SAGA despite its popularity?
As a Layer 1 project, Saga demonstrates its uniqueness and deep understanding of blockchain technology applications. It aims to help developers quickly launch dedicated chains Chainlets, which greatly simplifies the development and deployment process of blockchain applications and provides developers with an efficient and convenient platform.
Through cooperation with multiple L1 protocols such as Matic, Avax, and Cele, Saga has not only strengthened its own technical strength, but also expanded its influence and application scope. This cooperation model helps promote the development of the entire blockchain industry, and also brings more business opportunities to Saga.
Saga's launch of the game-focused Saga Origins chain further demonstrates its in-depth layout in the field of games and entertainment. With the continuous development of the game industry, blockchain technology has brought more possibilities and innovation space to games. Saga seizes this opportunity to provide game developers with a more flexible and secure blockchain solution.
Modularity + GameFi becomes a new direction for encrypted narrative
GALA
Gala Games is a blockchain game development company founded in 2018, aiming to build a decentralized game ecosystem. Gala Games is both a game development platform and a game aggregation platform. Gala has established a dedicated network node to maintain and ensure system security. The node system will provide decentralized computing power support, transaction verification and storage services for the game ecosystem. The entire game ecosystem runs on a distributed node network, rather than on a centralized server controlled by a single entity. Gala's founder node will power the operation of the Gala ecosystem.
Well-known games in the Gala ecosystem include: Town Star, Spider Tanks, Mirandus, GRIT, Gala Music, Gala Film, and VOXverse.
RON
Ronin Network is an Ethereum-based sidechain built by Axie Infinity’s development team Sky Mavis (a blockchain game studio based in Vietnam) to meet the needs of Axie Infinity game players and solve the congestion and high gas fee problems they face.
Simply put, Ronin can be understood as a blockchain network developed specifically for games. It supports EVM-compatible smart contracts and protocols so that developers can build high-performance and feature-rich blockchain game projects.
In January 2023, Ronin released the desktop game aggregation platform Mavis Hub 2. In March, it launched the RON staking function. In April, it switched to the delegated stake (DPoS) mechanism and upgraded the function of Ronin Wallet. In May, it launched the NFT market Mavis Market (and integrated Ronin Wallet). In September, the blockchain game project Pixels migrated from the Polygon network to the Ronin network. In October, it announced the launch of the Lucas (v2.6.2) upgrade and Shillin hard fork on its mainnet. In November, it reached a cooperation with the Korean game production company ACT Games, which plans to migrate all its games to the Ronin network. In December, it reached cooperation with the world-renowned game studios Foonie Magus, Directive Games, Bali Games, Tribes Studio and Bowled.io, further expanding Ronin's game ecosystem.
ARB
Arbitrum is currently the largest Layer2, and is building a new narrative of Layer3+GameFi through Orbit. Orbit is the Arbitrum stack, which allows anyone to launch their chain on Arbitrum One or Nova without permission, which is equivalent to the OP Bedrock stack. This is similar to the function of modular public chains, that is, one-click chain launch.
In essence, SAGA belongs to the modular crypto narrative direction of Layer1+GameFi, which is similar to Arbitrum Orbit's Layer2+GameFi. GALA and RON are specialized game public chains, and their game quality is relatively high and more professional. Overall, the development strategy of public chain+GameFi is becoming a new crypto narrative.
How will GameFi break out of this bull market?
Axie has been online for 3 years. At present, the main functions of the game are fighting, breeding, land, market transactions, etc. In the future, there will be pledge and other gameplay. As long as there are new users entering the market and the income is stable, the game is likely to continue to develop.
At present, Gala Games official website has confirmed the launch of 18 games, including role-playing, simulation management, card, tower defense, shooting and other types of games. In addition to Spider Tanks, which has exploded in the blockchain game circle this year, Gala Games has also cooperated with the traditional game platform Epic to launch a battle royale game similar to PUBG, GRIT, which has attracted everyone's attention.
The basic logic of the GameFi track in the last bull market was the P2E play-to-earn mechanism. Because playing games can make money, blockchain games attracted a large number of people to flock to it, and the price of tokens rose. Gala followed the P2E mechanism and achieved a thousand-fold increase in the last bull market. With the arrival of the new market, Gala's holdings are relatively concentrated, and it has released a huge amount of energy to rise. The bottom has been built and it has broken away from the bottom. According to the contract position data, it is easy to see that the short-term bullish intention of large investors is quite strong.
Summarize
Overall, SAGA's Layer 1 + GameFi and Arbitrium's Layer3 + GameFi have similarities. These two projects are moving towards GameFi from a technical perspective; GALA and RON are more similar, as they are better at developing Web3 games and then began to delve into public chains based on game needs. However, the general direction of these two categories is actually the same; in the future, crypto modularization + GameFi is expected to become the main narrative in the crypto industry.
