Siddharth Menon, Co-Founder of WazirX, SuperGaming Launches “Tegro” Web3 Gaming Ecosystem Marketplace
WazirX co-founder and COO Siddharth Menon and Indian game development company SuperGaming launched Tegro as a marketplace for the Web3 gaming ecosystem on Tuesday. The new offering aims to create self-sustaining marketplaces for gamers, traders and institutional investors where they can trade, hold and play with their gaming assets. sustainable economy. Web3 has become a nascent space for gamers where technologies such as blockchain and non-fungible tokens (NFTs) have been deployed to advance the user experience.
Tegro’s announcement comes just a week after Menon of cryptocurrency exchange WazirX announced the decision to join SuperGaming as an advisor to support the Pune-based company’s Web3 initiatives.
Menon is expected to help bring his expertise in Web3 ecosystems to Tegro to make it a distinctive place for the gaming industry.
“Web3 games will be the next paradigm shift in gaming, unlocking new economic and creative opportunities for gamers, and have the potential to unlock a $2 trillion market,” he said in a prepared statement. .
SuperGaming will work with Menon to make Tegro an attractive space for players alongside institutional investors and integrated merchants.
The game’s developer said that most existing Web3 games do not put players at the center of growing their economic opportunities.
“We see Web3 technologies as complementary to our gamer-first philosophy, allowing us to create new creative and economic opportunities for them,” said Roby John, co-founder of Tegro and SuperGaming. “Thanks to the potential of Web3 games and Tegro, we can do this in a way that is sustainable, fair and transparent for everyone.”
Tegro is expected to have a dedicated marketplace where in-game assets will be available, while enabling commerce between players, traders, and investors. It is also teased to offer in-game asset stats to help players and traders trade more efficiently.
In addition to being the marketplace, Tegro will market SDKs and APIs to help developers integrate the experience.
SuperGaming already claims to have over 300 million players across the 100 games in its portfolio. Games include titles such as MaskGun and Silly Royale which are known to mobile gamers. Additionally, the developer is working on the Battle Royale Indus game.
Along with games, SuperGaming offers its game engine to third-party studios that may adopt Tegro over time.
Web3 (or Web 3.0) has become a buzzword within the gaming industry worldwide. However, the major success of the new blockchain-based iteration of the World Wide Web remains to be seen.
Earlier this month, gaming retail giant GameStop introduced its native NFT marketplace to enter the Web3 world. He also announced a fund “up to $100 million” to support game developers using the newly created marketplace.
Similarly, Axie Infinity and OpenBlox are the few other NFT marketplaces where players can create, buy, and trade their in-game assets.
Indian game publisher nCore Games also last month announced plans to launch its in-house Web3 offerings in partnership with crypto players Animoca Brands, Galaxy Interactive and Polygon.
But nonetheless, Tegro’s move appears to go beyond bringing in Web3 games and offering an NFT marketplace for gamers. It is supposed to help solve the problem of fragmented liquidity and allow players and traders to come together and increase the process of capital flow.
Forte, based in San Francisco, Calif., has also been working down the same path for a few months. It partnered with Zynga in December to introduce blockchain-based Web3 games for the mobile game publisher.