Algorand, an American blockchain technology startup, It has joined a large blockchain gaming association, the Blockchain Game Alliance or BGA.
The enterprise, Known for delivering technology to a large number of national projects in digital currencyis now officially a member of the BGA. According to the BGA website, the company joins more than 60 companies like ConsenSys and MakerDAO.
Algorand announced the news on July 2 and said the company would contribute to the alliance as a supporting member and sponsor.
Blockchain in the video game universe
By joining the alliance Algorand wants to bring a number of advantages to the video game industry. This includes the simple creation of non-consumable tokens (NFT) as well as new monetization models. The company promises to offer higher network speeds, lower transaction costs, greater market opportunities for gamers and advertisers, and “community ownership of the entire gaming ecosystem”.
Founded in 2019, The BGA wants to push ahead with the introduction of blockchain technology in video games. They are also trying to represent this sector and the major events in the game industry by sponsoring major technology companies.
Shamir Ozery, Director of Marketing Programs at Algorand, stressed that the new association will contribute significantly to the acceptance of blockchain technology in the video game industry. Wrote:
“Our partnership with BGA is an opportunity to raise awareness of blockchain technology and promote adoption. It underscores its potential to create new ways to create, publish, play, and build communities around video games. “
Algorand is a major technology provider worldwide
The news comes shortly after the company has been selected to record official chess scores on the blockchain platform.when the FIDE Online Arena launched digital games. In memory of the opening of the chess ranking in Algorand, the founder of the startup, Silvio Micaliplayed a game of chess against the grand master, Sergey Karjakinon June 18th.
Founded in 2017, Algorand is a large blockchain project that focuses on creating a transparent system for decentralized projects and applications. The Algorand protocol is widespread worldwide, and the Republic of the Marshall Islands selected it as a technology partner for the country’s national digital currency in March 2020.
Algorand’s domestic token, ALGO, was originally sold through a first trading offer on the world’s largest crypto exchange. Binance. It is now in the top 100 cryptocurrencies by market cap.