New Delhi: Tegro, the popular web3 marketplace for games, has announced a $1 million grant for game developers on the blockchain-based web platform. Alongside this, the Indian platform also unveiled a new set of economic frameworks that proposes the use of fungible tokens (FT) as a central part of the design of the economy. Touting Web3 gaming as the “next paradigm shift in gaming,” Tegro seeks to build a sustainable Web3 gaming ecosystem and unlock a $2 trillion market in the process.
According to a press release from the company, game developers can apply for the Tegro grant and get up to $25,000 per project “no strings attached.” Tegro also said a founding team will offer guidance to successful applicants.
“Game development and publishing are in themselves complex processes. Developers may not be fully aware of the list of activities behind those words, let alone the complexities of creating Web3 games with sustainable economies that can stand the test of time,” said Siddharth. Menon, CEO and co-founder of Tegro.
With the grant, Menon seeks to provide users with a “new class of games worthy of actually being games, rather than a collection of poorly cobbled-together websites and weak savings that end up being rug draws.”
Additionally, the company also unveiled Tegronomics, which is a set of economic frameworks that game developers can use to create a scalable and sustainable economy in their offerings.
Interestingly, the framework offers the use of TFs as a central element of the design of the economy, as opposed to non-fungible tokens (NFTs). Tegro says the change can help increase trading frequency and liquidity. The company also suggests that the FT switch could facilitate the deployment of large funds.