Removing volatility from cryptocurrency for cryptogamers


#1

Hi Guys,
Me and my friends are interested in developing a crypto game based on the waves platform. Our major concern is the volatility of the cryptocurrencies like Waves which might inhibit a lot of players as their currency for transaction will be exposed to market risks. Is there a way out of this?

Gourab


#2

You can use your own cryptocurrency for your games.

Only fees are tied to Waves. You problem is fees in Waves?


#3

Hi deemru,
Thanks for your response. The problem is the fees is tied to Waves which in turn is volatile. So all that would do is transfer the entire cryptocurrency exchange risk from the player to the developer. So is it possible in some way to have a fixed rate for transactions by making the fees tied to some stablecoins like tether?


#4

Hello.
You can set a sponsorship fee for any your asset. I think this one article will be helpful for you: https://docs.wavesplatform.com/en/waves-client/assets-management/sponsored-transaction.html
Best regards, Waves Community Manager.


#5

Two things.

  1. When you speak about waves volatility, you mean its volatility against what other currency? Why just don’t live with waves?
  2. Volatility is good, really good. Just imagine some finance market without any possibility to win!

#6

Hi Brox,
Thanks for your response. I agree that volatility is the critical factor on which the entire financial market stands. However, I am not sure how many players who are not interested or have not previously dabbled in the stock markets would want to take that risk as a part of a game. The crypto games market is still pretty new and mostly comprised of people who are already well versed in crypto currencies and actively involved in investing in them. Some estimates say that on average there are 1000 daily users. This is smaller than the users for a below decent mobile game on android or iOS platform. If we look at an average gamer today 60% of the gamers are between 16-32 years of age and a significant part of that demographic have not had any investment of their own. Will this people be interested to not only play a new game but also take the risks associated with the fluctuations in their asset value determined by market forces?
We as game developers wanted to understand whether its possible to use the blockchain technology for ensuring security and ownership of their in-game assets without having to take the additional hassle of exposure to the volatility of the price of their assets which is determined by the changes in prices of the cryptocurrency used.
Sorry for the really long message, but I think I wasn’t clear enough in my initial message so wanted to clarify in depth.
Looking forward to the esteemed comments from my fellow members.

Gourab