SENET is Building a Cross-Chain Gaming Ecosystem Based on GameFi Exchange

Web3
startup
Senet
Network
is
set
to
launch
a
cross-chain
game
asset
liquidity
protocol
and
blockchain
game
exchange.
Combining
GameFi,
DEX,
wallet,
and
social
functions,
it
aims
to
create
an
aggregated
blockchain
gaming
platform
for
both
gamers
and
developers.
Through
the
IGO
(Initial
Game
Offerings)
mechanism,
players
can
vote
on
and
decide
which
games
to
be
listed
on
Senet
and
this
will
also
incentivize
developers
in
their
content
creation.
Moreover,
the
interoperability
of
tokens
across
chains
and
games
will
further
empower
the
value
of
individual
games.
The
inspiration
of
Senet’s
brand
comes
from
a
board
game
invented
by
the
ancient
Egyptians
over
five
thousand
years
ago,
which
means passing
through.
So,
can
it
bring
a
different
narrative
to
GameFi
field
after
crossing
the
bear
market?

During
the
previous
bull
run,
games
like Axie
Infinity
exploded
with
astonishing
production
potential,
showcasing
the
feasibility
of
the
play-to-earn
model.
While
Axie
was
famous
for
improving
income
of
underprivileged
Filipinos,
it
now
has
left
many
speculative
players
heavily
in
debt.
This
is
also
a
bottleneck
facing
GameFi:
the
heavy
financial
attributes
undermine
the
playability
of
the
games
themselves
as
content
products,
ultimately
rendering
them
unsustainable
in
repeated
arbitrage.
However,
this
has
not
stopped
the
pace
of
blockchain
technology
development.
According
to
data
from
Grand
View
Research,
blockchain
games
are
projected
to
grow
at
a
rate
of
68.3%
from
2023
to
2030,
far
surpassing
the
average
growth
rate
of
13.4%
in
the
online
gaming
industry.
In
the
foreseeable
future,
these
explosively
growing
games
on
the
blockchain
will
not
only
generate
complex
transactional
demands
but
also
face
the
need
for
content
integration
and
standards.

As
increasing
number
of
game
developers
join
the
new
wave
of
gold
rush,
solely play-to-earn
narrative
appears
too
simplistic.
They
are
required
to
explore
new
possibilities
for
content
creation
based
on
blockchain
technology
because
games,
regardless
of
the
technology
they
are
built
on,
seem
to
follow
the
iron
rule
that “content
is
king.”
The
current
practical
issue,
however,
lies
in
the
fact
that
the
vast
majority
of
blockchain
games
fail
to
be
listed
on
mainstream
CEX
(Centralized
Exchanges).
Their
isolated
token
economies
systems
tend
to
stagnate,
leading
to
a “death
spiral”
and
dramatically
shortening
lifecycle
in
the
market.
With
the
improvement
of
compliance
standards
on
CEX,
the
demand
for
listing
games
may
shift
to
DEX
(Decentralized
Exchanges)
to
seek
less
friction
in
the
approval
process.
Therefore,
Senet
is
actively
exploring
a
cross-chain
game
ecosystem
based
on
DEX
services
to
support
development
by
enhancing
the
utilization
and
liquidity
of
in-game
assets,
potentially
revolutionizing
the
production
methods
in
traditional
games.

Currently,
compared
to
the
global
gaming
market
of
190
billion,
perhaps
26
billion
for
Gamfi’s
blockchain
games
is
not
considered
so
influential.
And
the
number
of
players
in
blockchain
games
is
just
180
million,
accounting
for
less
than
one-tenth
of
the
2.77
billion
global
players.
However,
this
share
is
steadily
increasing.
It
is
poised
to
disrupt
the
traditional
gaming
landscape
in
the
near
future,
at
which
point
blockchain
may
 become
a
common
technology.
With
the
maturity
of
the
crypto
market
and
the
iterative
development
of
blockchain
games,
the
final
barrier
between
the
real
and
virtual
worlds
may
rely
on
games
to
achieve.
Games
signify
lower
educational
costs
and
higher
acceptance,
enabling
large-scale
interpersonal
connections
and
the
popularization
of
new
technologies.
Additionally,
the
continuous
advancements
in
AI
are
also
driving
the
growth
of
games,
not
only
freeing
up
a
significant
amount
of
leisure
time
from
work
but
also
sharply
reducing
game
development
costs
and
barriers
through
automated
generation.
So,
GameFi
is
just
in
the
beginning.

When
contrasting
the
limited
interactivity
of
WEB1
and
the
centralized
control
of
WEB2,
the
upcoming
internet
era,
WEB3,
built
on
blockchain
technology,
better
resonates
with
gaming
principles.
For
example,
decentralized
governance
will
secure
players’
rights,
in-game
items
can
be
traded
as
NFTs,
and
DAO
seems
extend
forms
of
guilds.
For
games,
however,
the
most
revolutionary
feature
of
WEB3
is
the
monetization
of
time,
where
people’s
investments
in
games
can
be
transformed
into
real
rewards
through
 ownership.
But
before
this,
specialized
infrastructure
serving
the
gaming
market
is
required
to
offset
the
risks
generated
by
the “island
effect”
through
value
exchange.
As
a
positive
example,
platform
like
Senet
is
integrating
cross-chain
gaming
resources,
facilitating
asset
trading
between
games,
and
refunding
rights
to
players
through
token
circulation.
More
importantly,
with
the
financial
properties
of
GameFi,
it
may
change
the
production
and
consumption
relationships
in
games,
redefining
the
value
between
the
virtual
and
real
worlds.

Author:
LiliZ
(Game
Technology
Researcher)

Twitter:
@senetnetwork

Email:

[email protected]

Website: senet.app

Disclaimer:
The
information
provided
in
this
press
release
is
not
a
solicitation
for
investment,
or
intended
as
investment
advice,
financial
advice,
or
trading
advice.
It
is
strongly
recommended
that
you
practice
due
diligence
(including
consultation
with
a
professional
financial
advisor)
before
investing
in
or
trading
securities
and
cryptocurrency.