Riyadh Summit: Exploring New Tech and Fun Ways to Game with Blockchain and DeFi

Riyadh Summit: Exploring New Tech and Fun Ways to Game with Blockchain and DeFi

Play To Earn Games | 08 May 2024 15:31 UTC

Explore Riyadh's Gaming Summit, blockchain's impact on gaming, and DeFi trends reshaping player earnings. Dive into future tech now!

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  1. Riyadh's Gaming Summit: Leaders Unite in Tech and Play
  2. Blockchain in Gaming: How It's Changing the Game
  3. DeFi and Gaming: A New Way to Play and Earn

Riyadh's Gaming Summit: Leaders Unite in Tech and Play

Firstly, a big event in Riyadh is bringing together tech and gaming experts. They'll talk about new gaming technologies and ideas. This event is part of Saudi Arabia's plan to be a leader in tech.

Blockchain in Gaming: How It's Changing the Game

Next, let’s talk about blockchain. It's a tech that keeps game results safe and fair. It also makes getting game rewards quicker and simpler. This could really change how we play games online.

DeFi and Gaming: A New Way to Play and Earn

Lastly, there's a new trend combining finance and gaming called DeFi. It lets players earn real money while playing. This part of gaming is growing fast, showing it's becoming a big deal.

Connecting Dots in the Gaming World

In conclusion, these stories show us how gaming is becoming more exciting and rewarding. By understanding these trends, gamers can see how the future of gaming might look. So, stay tuned and keep gaming!

Game Insights: Essential Facts for Gamers

Understanding the latest in gaming technology and events can be thrilling. Below, we break down the key points you need to know, presented in simple terms and easy sections.

Riyadh Gaming Summit: A Hub for Tech and Play

Collaborative Forces Behind the Event

First off, the Riyadh Gaming Summit isn't just any event. It's a partnership between Outer Edge, Animoca Brands, and King Abdulaziz City for Science and Technology (KACST). Together, they're making waves in tech and gaming fields.

Leadership on a Global Scale

Moreover, this summit brings together leaders from all over the world. They focus on the latest in Web3, AI, and gaming. So, it's not just about games, but also about the technology that makes them more exciting.

Fostering a Community of Innovators

Also, Joshua Kriger, a co-founder of the event, highlights its goal. He wants to build a community that sparks global innovation. This means more collaboration in the worlds of culture, entertainment, and technology. This approach helps new ideas grow and thrive.

The Role of Mohammad Hadhrawi and KACST

Advancing Gaming Technologies

Mohammad Hadhrawi works at KACST, aiming to push forward research and development in gaming. His work helps create new and better gaming experiences.

Aligning with National Goals

Additionally, their projects align with Saudi Arabia's national goals. These goals include boosting creativity and tech advancement. Ultimately, this could make Saudi Arabia a leader in tech industries.

Aiming for Global Impact

Lastly, their work isn't just for local benefit. They aim to affect the global tech scene. This could mean new opportunities and skills for people in Saudi Arabia and beyond.

Yat Siu's Role and Vision

Supporting Regional Tech Growth

Yat Siu, from Animoca Brands, plays a crucial part in supporting Web3 and blockchain in the Middle East and North Africa. His efforts help the region embrace cutting-edge technology.

Empowering the MENA Region

Through the summit, they aim to fully utilize Web3 and blockchain technologies. This support could lead to significant advancements in local tech capabilities.

Exploring Summit Topics

Diverse Discussions

The summit doesn't just stick to one topic. It covers a range from smart cities to gaming, and even includes esports, art, and culture. This variety shows how technology connects with many parts of our lives.

Blockchain's Role in Gaming by Elympics

Enhancing Game Security

Tom Kopera from Elympics explains that blockchain is more than just transaction logs. It also makes games fairer and more secure through advanced cryptography. This means better protection and honesty in game outcomes.

Speeding Up Transactions

Blockchain also speeds up how players get their rewards. This is a big change from older gaming platforms, where players often waited a long time for their earnings.

The Growth of DeFi and Web3 Gaming

A Strong Comeback for DeFi

A report by QuickNode highlights a resurgence in DeFi, especially with new staking methods boosting its growth. DeFi is becoming a major player in online transactions.

Leading the Pack

DeFi isn't just growing; it's leading. It tops the charts in transactions, fees, and usage. This shows it's a key area to watch in the tech world.

Web3 Gaming Surges Ahead

Finally, Web3 gaming is on the rise, with more players and more transactions than ever. This trend shows that gaming is moving towards more decentralized, player-controlled experiences.

Making Connections Clear

By exploring these developments, gamers can see where the industry is heading. Each section here aims to make complex topics more accessible, helping you stay informed about the cutting edge of gaming. This knowledge isn't just interesting — it could shape how we all play in the future.

FAQ Section: Navigating Gaming Innovations and Trends

This FAQ section aims to clarify some of the exciting yet complex topics related to the latest trends and technologies in the gaming world, especially focusing on blockchain, DeFi, and major gaming summits.

What is the Outer Edge Riyadh Summit?

Who organizes the Outer Edge Riyadh Summit?

The summit is organized by Outer Edge in collaboration with Animoca Brands and King Abdulaziz City for Science and Technology. It brings together industry leaders to discuss advancements in Web3, AI, and gaming technologies.

What topics are covered at the Outer Edge Riyadh Summit?

The summit explores a variety of topics including smart cities, esports, art, and the impact of gaming on culture. It aims to foster innovation and collaborative projects in these areas.

Why is the Outer Edge Riyadh Summit important for gaming?

The summit is crucial because it sets the stage for global and regional leaders to unite and share insights. This collaboration drives forward the integration of new technologies in the gaming industry, promoting a more immersive and innovative gaming experience.

How does Blockchain Influence Gaming?

What is blockchain technology in gaming?

Blockchain technology in gaming refers to a digital ledger that securely records transactions. It enhances game security, ensures fairness, and allows for transparent reward systems, making gaming more honest and streamlined.

How does blockchain technology improve gaming security?

Blockchain enhances gaming security by cryptographically securing game outcomes. This means that once a game result is recorded on the blockchain, it cannot be altered, ensuring fairness and transparency in competitive gaming.

What are the benefits of blockchain for gamers?

Blockchain technology provides several benefits including faster and more secure transactions, transparent reward systems, and reduced dependency on centralized gaming authorities. This can lead to a more equitable distribution of rewards and a better gaming experience.

What’s the Buzz About DeFi in Gaming?

What is DeFi in the context of gaming?

DeFi, or Decentralized Finance, in gaming refers to the use of blockchain technologies to create open financial ecosystems within games. These systems allow players to earn, trade, and invest in-game assets securely and transparently.

How can gamers benefit from DeFi?

Gamers can benefit from DeFi by gaining more control over their in-game assets, such as tokens or skins. They can trade these assets for real-world value or use them in strategic ways within the game, enhancing their overall gaming experience.

Why is DeFi becoming popular in the gaming community?

DeFi is gaining popularity because it empowers players by decentralizing the control of in-game economies. This shift allows players to earn real rewards and have a stake in the game’s economy, making gaming more than just a hobby but also a potential source of income.

Insights from Industry Leaders

What does Mohammad Hadhrawi say about gaming technology?

Mohammad Hadhrawi emphasizes the importance of advancing research and development in gaming to align with Saudi Arabia's vision of becoming a leader in technology. This includes leveraging AI and immersive technologies to create new gaming experiences.

How does Yat Siu impact the gaming industry?

Yat Siu helps drive the adoption of blockchain technologies in the MENA region, enhancing how games are played and monetized. His efforts support the growth of a digital ecosystem that benefits developers and players alike.

Why are global collaborations important in gaming according to Joshua Kriger?

Joshua Kriger believes that global collaborations in gaming foster a community that can lead to sustained innovation. By bringing together diverse minds and ideas, the gaming industry can push the boundaries of what games can offer culturally and technologically.

In Other News

Here's a roundup of the latest updates from the gaming industry focusing on blockchain innovations, strategic partnerships, and unique gaming experiences.

Moonveil's Rewarding Season and PlayDapp's Blockchain Upgrades

Moonveil has launched its Season 1 titled "Rock’it to the Moon," providing gamers the chance to earn exclusive rewards in AstrArk by advancing through various season pass tiers. Meanwhile, PlayDapp has introduced its mainnet on the Avalanche platform, enhancing the blockchain gaming experience with smoother, faster gameplay and a seamless migration of Mikey NFTs, which foresees future expansions like DAO games and a new mobile game.

Haven's Compass and Star Atlas Expansion

Star Atlas is expanding its universe through the integration of Project Tokes, introducing economic dynamics that allow gamers to cultivate plants. This integration complements Haven’s Compass's launch of a 12-month airdrop campaign, offering $CMPS tokens to gamers who engage in quests, enhancing both skills and strategic play.

Bitcoin Halving's Influence on Blockchain Gaming

The recent Bitcoin Halving has spurred potential value increases in game-related digital currencies. Sony is capitalizing on this by enhancing digital rights management and securing in-game assets through blockchain technology. This event also boosts the relevance of NFT marketplaces, like Pallet Exchange, that revolutionize how gamers buy, sell, and trade digital assets.

LUXON's Mobile Update and Gala's New Strategy

LUXON introduces a mobile version and a new chapter for its DESPERADO B218 game, enhancing NFT integration and player interaction. Gala Games is expanding its offerings on GalaChain with support from EMERGE Group, which will incubate new titles and enrich the gaming ecosystem with innovative content.

Earning Crypto Rewards in Gaming

Explore games like "Nyan Heroes" and "Wanderers," where players earn cryptocurrency rewards through engaging gameplay. Nyan Heroes offers $NYAN tokens for missions completed by cat-piloted mechs, while Wanderers provides strategic advantages through customizable RAM Bundles, blending fun with financial opportunities.

Yuga Labs and Splinterlands' Innovations

Following its acquisition of Yuga Labs' IPs, Faraway is set to redefine gaming experiences with significant web3 assets and a new rewards system in Splinterlands. This move, coupled with innovative game mechanics and customizable rewards, aims to boost player engagement and satisfaction in the gaming community.

Explore Riyadh's Gaming Summit, blockchain's impact on gaming, and DeFi trends reshaping player earnings. Dive into future tech now
Explore Riyadh's Gaming Summit, blockchain's impact on gaming, and DeFi trends reshaping player earnings. Dive into future tech now

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