Inspiration
ABI Game Studio embodies the spirit of decentralization from members coming from all across the globe. Our team consists of long-serving and highly-experienced Smart Contract developers and a professional operations crew. When DeFi first came up, with years of experience in developing games, we got together and re-imagined what a blockchain platform should be and looked to fix problems that other platforms have failed to solve in the past. The main problems are as follows:
The main problems are as follows:
Poor User Experience
As major institutions such as Paypal and Square start accepting bitcoin, there is no doubt that crypto has become popular. However, the same cannot be said about dApps. In DappRadar’s Industry Report, the dApps industry started picking up the pace with 592% more daily Unique Active Wallets (UAW) compared to 2020. However, the growth of dApps has been stagnant until the arrival of DeFi. The usability and utility of most dApps available are way behind popular centralized apps. It seems that current decentralized applications are not focused on the everyday user, making it very difficult for the average Joe to get started. Therefore, the few dApps striving for seamless user experience are taking the lead.
Sustainable DeFi Solutions
With the rise of DeFi, speculation has risen around the possibilities of what a bankless world can truly become. Yield farming and APYs have given many people a new source of income, yet most of these projects are not sustainable. Why? Because they have no intrinsic token value that benefits the user in the long term. The ease of copy-pasting has severely stalled innovation. It is a game of musical chairs so to speak, where copycats are added to the ecosystem on a daily basis and users chase after the highest yield; when the music stops only those with true innovation will continue to grow.
The True Value of NFTs
With many developers looking for the next big thing, many have turned to NFTs. The concept of NFTs is not new, but rather one of the first ideas of how smart contracts and unique tokens can benefit creators and users simultaneously.
Although there are many developers utilizing this approach and several projects have surfaced in the past several years, only some of them have really created a product that showcases the true value of NFTs and how they can change the world. NFTs shouldn’t be just "hype" but a truly revolutionary standard to ensure that creators are rewarded for their time and effort.
Community Driven
When reviewing the discussion, we come to understand that many dApps are developed for the minority. Whether it is the barriers to entry or the extremely high gas fees (blockchain transaction fees), participation is not open to everyone.
Removing barriers and making sure that developers are open and honest is important in fostering and expanding the community and driving true value. Unfortunately, most communities are not rewarded for their behind-the-scenes contribution. Hence, we aim to provide product values that are driven by the community, for the community.
Scalability
Decentralized applications have come a long way. However, for them to take the next great leap, the problem of scalability must be resolved. With high gas fees, long transaction times, and an extremely complex onboarding process, many dApps have failed. There is a multitude of new solutions for lower cost of transactions and faster Transactions Per Second (TPS). Therefore, users are often faced with a new learning curve when converting to a new blockchain.
Last modified 1yr ago