Binance’s latest Launchpad project, Portal, has gone live, causing BNB to break through $380. Today, let’s take a look at what the Portal Gaming project is all about and what has caused the intense attention.
Portal Gaming is a platform specifically designed for Web3 games. The platform focuses on features such as one-click login with Portal Passport and easy payments. It provides a system for managing all in-game assets in one place, including NFTs and Account Abstraction. The platform emphasizes social features and multiplayer game functionality.
Players can play games on any chain, indicating support for cross-chain operability. Portal is supported by the leading interoperability protocol LayerZero, enabling seamless integration between games on different chains. The website lists over 200 games, including MMORPGs, strategy games, survival games, and various other types. Portal Gaming aims to connect games and players based on LayerZero, creating a unified Web3 gaming ecosystem and providing players with access to a wide range of games and game distribution opportunities. On October 12th, Portal announced integration with Polygon, and on October 26th, it integrated with Avalanche. It plans to integrate with other networks such as Solana, Polygon, and Klaytn in the future. In simple terms, Portal intends to become a Steam-like gaming platform in the Web3 world, integrating a large number of games and overcoming issues such as cross-chain compatibility and payments through network integration and Layer0 technology, allowing players to freely play on a single platform.
Portal Coin is the native token of the Portal Gaming platform. It acts as a link between Web3 games and players and can be used for platform governance, game trading, and other scenarios. The platform, developed by LZ Technology, includes market integration that allows the use of Portal tokens in various markets. For example, Portal Gaming has established a distribution partnership with the leading cross-chain NFT platform Magic Eden, allowing users to purchase any NFT using Portal tokens. This makes the token a verified currency by Magic Eden and provides additional utility.
Portal tokens can be used to buy and sell in-game items, adding practicality and interactivity for players. Users can vote and influence the future direction of Portal tokens and the platform, demonstrating a community-driven development and governance approach. Participants can earn rewards from the foundation and partners by staking Portal tokens. Players can increase their score by staking tokens in the mining pool, which affects the distribution of rewards.
Users can access and purchase exclusive NFTs from the platform’s partner network. They can also choose to purchase nodes to power the core portal website infrastructure and platform, highlighting a decentralized approach to maintaining and operating the platform.
According to the whitepaper, Portal Gaming is developed by the Portal Foundation based in the Cayman Islands. The team consists of members from many top game studios who have been involved in disruptive game development. Known members of the Portal Gaming team, as disclosed on the Portal Twitter, include:
– John Yao: CEO of esports club Team Secret, a recognized industry expert in the esports field.
– Russell Hanson: Scientist, technology expert, and entrepreneur with over 15 years of experience in AI, health, data science, and cryptocurrency.
– Jamie King: Former co-founder at Rockstar Games and currently holding executive positions in various companies.
– Matt Dixon: Experienced professional in the gaming industry with over 15 years of leadership experience in game development and publishing.
Portal Gaming’s strategic investors include Newman Group, which will provide strategic advice for Portal Gaming’s Asian market. Game partners include Space Nation, Oxya Origin, Nine Chronicles, Crypto Unicorns, MagicCraft, DeFi Kingdoms, and more. Other partners include LayerZero, Magic Eden, M80 (esports and gaming organization), and MWE (entertainment and cultural institution).
The maximum supply of Portal tokens is 1 billion, and they will be minted at the genesis and gradually released to the community treasury over time. The main use cases of the token are as follows:
– Payment for transaction fees: Portal tokens are used to pay for cross-chain transactions verified by Portal nodes and native fees on the Portal network. After paying the transaction fees, a portion of the tokens will be burned, and the remaining tokens in the treasury will be redistributed as rewards to nodes, game developers, and players.
– Price reference and payment option: Portal tokens are supported as one of the payment options for all transactions within the Portal network, including in-game and game-related markets. All fees related to cross-chain transactions through the Portal network are denominated in Portal tokens.
– Voting and staking mechanics: Players and game mechanics can earn rewards through staking and voting, helping games gain higher visibility and attention on the Portal Gaming platform. Portal refers to this incentive system as a stake-to-scale system, benefiting both players and game developers while enabling decentralized game distribution.
– Providing liquidity: Portal tokens play a natural role in providing central liquidity for game tokens and assets on the chain, thereby gaining economic benefits within the Portal ecosystem as a whole.
Regarding reward distribution for mining and other scenarios, Portal Gaming will adjust the distribution of Portal tokens based on the staking ratio. In the distribution to games, 20% of the game distribution tokens are allocated to node operators.
Portal Gaming’s presale started on December 14, 2023.
During the presale, there was a Crystal Dash point airdrop activity related to the presale mechanism, specifically the score economy model. Points determine the user’s level, and different levels correspond to different privileges. To obtain Crystal Dash points, users need to follow the @Portalcoin Twitter account and find the Crystal Dash link. By registering and participating in @Portalcoin content, users can earn points through views, likes, replies, retweets, and quotes. The points multiplier affects the number of points users can earn through actions and may increase based on the number of followers.
According to market research disclosed by the official, the overall market volume of the game metaverse has exceeded $192 billion. Portal is not just a gaming platform; it represents a macro vision for the future of gaming. It aims to drive Web3 gaming into the mainstream market and bring more possibilities to the gaming industry. The description of Portal has generated great anticipation among a large number of entertainment game users. If the project progresses smoothly according to its intended roadmap, it is bound to become a significant work in the Web3 and gaming fields. Everyone is encouraged to learn more and participate in the Portal Gaming project, approaching it with a relaxed attitude while also being cautious in investment.
Related links:
https://app.trendx.tec
h/projects/814755ec2afca14f8882cf955345a6225e75332afae3b68d78bfd5c061795bac
Official website:
https://www.portalgaming.com/
Official Twitter:
https://twitter.com/Portalcoin