Param Labs (PARAM): The Modular and Interconnected Web3 Gaming Ecosystem
What is Param Labs (PARAM)?
Param Labs (PARAM) is a cutting-edge company focused on revolutionizing the gaming industry by creating a Web3 gaming ecosystem. This ecosystem is modular and interconnected, consisting of games, developer tools, and infrastructure. The goal of Param Labs is to empower gamers and developers by giving them true digital property rights, ensuring that the value they create is returned to them.
The mission of Param Labs is to revolutionize the value that gamers and developers can derive from gaming experiences. By uniting unique intellectual properties (IPs) within a vast entertainment ecosystem, Param Labs aims to become the benchmark for next-generation gaming experiences. To achieve this, they use cutting-edge tools and emerging technologies such as artificial intelligence (AI) and blockchain.
How Param Labs (PARAM) Works
Param Labs’ ecosystem is built around five key pillars: Experiences, Infrastructure, Param L2/L3 Blockchain, Governance, and the PARAM token.
1. Experiences
The Experiences pillar focuses on creating engaging and immersive games for gamers, creators, and collectors. One of the flagship products is Kiraverse, a free-to-play multiplayer shooter. Kiraverse offers various game modes like battle royale and free-for-all, along with open-world exploration. This game allows players to battle, strategize, trade, and customize their experience, creating user-generated value with unparalleled freedom.
Another innovation under this pillar is Pixel to Poly, which transforms 2D images into high-quality, game-ready 3D assets. These assets can be integrated into popular games like Fortnite and GTA V, significantly reducing production timelines for game developers.
There are also native NFTs of the platform, which are unique NFTs that can be used in-game, providing players and collectors with valuable digital assets.
2. Infrastructure
The Infrastructure pillar provides tools for game developers to create high-quality assets and integrate them into their games. The Param Pools Wager System is a notable feature here, introducing a new way of competitive gaming. Players can stake amounts in a pool and claim the funds when they win, which means that they always get tangible rewards. A 5% fee from the pool is sent to the Param treasury, providing a revenue stream.
Param Labs also offers a Web3 invisible game discovery launcher, a global NFT marketplace, and a cross-chain wallet through its ownership infrastructure. This enables game studios to transition easily into the Web3 space, granting players genuine ownership of in-game assets.
3. Param L2/L3 Blockchain
The Param L2/L3 Blockchain is an innovative solution designed to enhance the Ethereum ecosystem. It operates on the Ethereum Virtual Machine (EVM), ensuring compatibility with a wide range of Ethereum applications. This blockchain allows for flexible execution possibilities, including parallel processing, and isolates gas fee spikes through a parallel fee market.
Param Labs stores transaction data on a specialized Data Availability (DA) layer to optimize costs. Potential DA layers include Celestia, Polygon Avail, EigenDA, and NEAR.
4. Governance
Governance in the Param ecosystem is powered by the PARAM token. This on-chain utility token facilitates governance and value accrual. The decentralized sequencer mechanism allows multiple entities to operate the Layer 2 network, reducing risks and engaging the community. Users can stake PARAM tokens to participate in the sequencing process, adding another layer of utility to the token.
5. PARAM Token
Central to the ecosystem is the PARAM token. It serves multiple functions, from paying transaction fees to facilitating governance. By staking PARAM tokens, users can participate in the decentralized sequencer mechanism, further decentralizing the network and ensuring its robustness.
PARAM Goes Live on Bitget
Param Labs is leading a gaming revolution by creating a Web3 ecosystem that empowers gamers and developers with true digital property rights. Through its innovative products, cutting-edge infrastructure, and commitment to decentralization, Param Labs is setting a new standard for the gaming industry.
Trading PARAM, the native token of Param Labs, presents a great opportunity to be one of the first supporters for a new model of Web3 gaming.
How to Trade PARAM on Bitget
Listing time: May 29, 2024
Step 1: Go to PARAMUSDT spot trading page
Step 2: Enter the amount and the type of order, then click Buy/Sell
Trade PARAM on Bitget now!
Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.