Meilich said the project is being built on Ethereum but with “proprietary tech to scale off-chain.” “So we are building tech that gives regular players who know nothing about crypto, access to their blockchain-based virtual goods. That means providing hosted wallets and a fully managed experience where we custody their assets, and also taking a lot of the transactions off-chain to save on gas.” Meilich is joined by former Decentraland compatriot Thor Alexander and a founding team that includes key players from games such as “World of Warcraft,” “Call of Duty” and “League of Legends.”
In 2018, Meilich organized “Nifty,” the first blockchain gaming and NFT conference, where he gained firsthand experience of the sort of complications users run into when they deal with blockchains, wallets, cryptocurrencies and NFTs. Big Time CEO Ari Meilich, who was previously a co-founder and CEO at Decentraland, a virtual reality platform that is built on blockchain technology, says he plans to create the first “AAA,” or highly rated, action title that allows players to acquire, hold and trade NFT-based virtual items with ease.
“We knew for a fact that this couldn’t scale in the short term to a mass market audience,” Meilich said in an interview, adding: Online video games have been around forever, but they tend to be “Walled Gardens,” which means they are enclosed so that the user is restricted to certain websites or online services. Thanks to crypto going mainstream, especially with all the interest around non-fungible tokens (NFTs), it’s time for the gaming world to break through its silos.
Source “The market for in-game assets is massive, and yet in today’s world, players do not possess and usually cannot trade the items they purchase,” North Island Ventures managing partner Travis Scher said in a statement. “In-game NFTs can give players true ownership and their proliferation can bring the Metaverse one step closer to fruition.”
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