The world of web3 is evolving, and its continuous integration with mobile technology is changing the landscape of digital interaction between people and blockchain-based ecosystems. Unlike the early days of blockchain and crypto, which were primarily focused on desktops and laptops, mobile devices are now becoming the primary launchpad for new web3 applications and games. This ongoing shift marks a significant leap, making blockchain technology more accessible and user-friendly to everyone, finally lowering the entry threshold. As a leading figure in this transformative shift, Elympics is playing a key role in bringing web3 gaming to mobile platforms.
The Default Gateway for Web3 and Gaming
Mobile devices are now becoming the go-to gateway for most web3 applications focused on entertainment and social interaction, reshaping how we interact with blockchain technology daily. With the convenience of smartphones, people can now access web3 apps anywhere, anytime, making it easier for new users to get on board without all the unnecessary hurdles like external wallets or long seed phrases to remember. This type of accessibility is crucial for the further growth of web3, as it lowers the barrier to entry and opens up the technology to a wider audience, which has always been one of the major bottlenecks. Imagine being able to play blockchain-based games, earn rewards, win prizes, and manage your digital assets, all directly from your phone. This kind of seamless integration is what makes mobile the perfect platform for web3 adoption as it blurs the line between web2 and web3 applications, making them not only seem the same but also offer the same level of pleasant user experience.
The long-term implications of this shift should not be looked down upon, as whoever rejects the evolution is set to stay behind and lose the race. For one, it means that the user base for web3 applications is set to explode in the coming months and years. With billions of smartphone users worldwide, the potential for mass adoption is enormous and it is growing daily as more people gain access to the Internet. It also means that web3 developers need to focus on creating mobile-first applications that are optimized for being used on a wide array of smartphones. This shift is not just about making web3 accessible; it’s about making it user-friendly and intuitive, ensuring that even those who are not tech-savvy can participate in the web3 revolution that is already taking place.
Pioneering Mini-Apps and Wallet Integration
Telegram is at the forefront of this mobile-centric web3 evolution. By leaning into mini-apps, wallet integration, and payment solutions designed specifically for mobile, Telegram is setting the stage for the next generation of web3 development. What is worth including is that Elympics is contributing significantly to this movement, particularly through its efforts in building games on the TON (The Open Network) blockchain, the ecosystem which already houses games with multi-million audiences.
The bullish sentiment around TON is not without reason. Telegram's ecosystem allows for the creation of a wide array of mini-apps that run directly within its main app, onboarding users to blockchain technology through simple, click-based casual and hyper-casual games. These games enable users to seamlessly farm tokens, bypassing the complexities of creating wallets with seed phrases and managing all the associated activities. A prime example is Hamster Kombat, which boasts over 200 million players, making it one of the viral Telegram MiniApps leveraging the TON blockchain.
TON's achievements have surpassed the wildest dreams of many optimists as it recently surpassed Ethereum in daily active users, reaching over 600,000, which is still just a mere 0.06% of Telegram's global user base. Additionally, TON has recently crossed the $700 million mark in Total Value Locked (TVL) or even $1 billion according to other estimates, which is a staggering increase from $10 million just a year ago. This growth shows the immense potential hidden within TON and the rapid pace of adoption in web3 technologies on mobile ecosystems.
Securing Financial Rails
The financial aspect is the foundation of any quality competition where one can win prizes. That is why it is crucial to establish clear guidelines for all the implementations of in-game prizes and rewards to make users feel safe and secure, knowing that everything they come upon has been accepted as a legitimate financial transaction, be it the reward or prize.
To prove the point of ongoing evolution, it has to be underscored that on the regulatory front, significant moves have been made with the introduction of the Markets in Crypto-Assets (MiCA) regulation in the European Union. Circle, the issuer of USDC and EURC stablecoins, has announced compliance with these new regulations, making its stablecoins available to European customers as of July 1, 2024. This compliance marks a critical milestone in the development of web3 ecosystems, positioning Circle as the first global stablecoin issuer to meet these stringent requirements and offer web3 applications a legitimate means of exchange. To expand on this matter, it can be said that Circle's stablecoins, USDC and EURC, have achieved a significant milestone by being officially recognized as legal electronic money under the new EU regulations. Choosing France as its European headquarters, Circle benefits from the country’s proactive stance on crypto regulation and now issued under the supervision of both French and EU regulators, Circle’s stablecoins ensure stringent compliance and security to all parties involved. By complying with MiCA, Circle positions itself as a leader in the global digital asset market, setting a precedent for future regulatory environments in regions like the US, Japan, and Singapore. This pivotal moment signifies a transition from the early stages of digital assets to their mainstream growth and adoption, announcing a new era in the digital financial systems that will soon become a part of everyone’s life without anyone even noticing, such smooth will be the adoption.
For Elympics, this regulatory advancement stands as a key milestone as it brings legitimacy to social gaming with token and money competitions on existing blockchain ecosystems like TON, where stablecoins like USDC could become the primary means of exchange between players. The enhanced regulatory clarity and security provided by MiCA make zero-sum gaming with monetary prizes more secure and appealing to players who can now rest assured that everything they do falls under the umbrella of regulatory acceptance.
Conclusion
The fusion of web3 technology with mobile platforms is revolutionizing the way we interact with digital ecosystems. Telegram’s integration of mini-apps and wallets, as well as Circle’s compliance with MiCA regulations, are pivotal developments in this journey we all take an active part in. Elympics is at the heart of this transformation, leveraging these advancements to create innovative gaming experiences on various ecosystems like the TON blockchain. As web3 continues to evolve, mobile solutions will undoubtedly play a central role in making blockchain technology accessible to a broader audience, driving further adoption and innovation in the space.
Enjoyed this article? Dive deeper into the future of gaming by exploring more insights and stories on our blog. Your next favorite read is just a click away.
Read more here -> Elympics Blog
