Vorto Gaming AB Receives NEAR Foundation Grant, Set To Develop Blockchain Gaming Hub

Vorto Gaming AB, the developer team behind Vorto Network’s blockchain-enabled gaming app, has received a grant from the NEAR Foundation to help develop its blockchain gaming app on the NEAR protocol.

The grant provides Vorto Gaming AB with 25,000 NEAR tokens and an additional US$10,000, for a total of about $140,000 in support of the project. The two blockchain firm’s partnership commences alongside the grant, with Vorto Gaming scheduling deployment of its Vorto Network Minimum Viable Product (MVP) on NEAR Protocol.

NEAR Protocol is a climate neutral open source platform for decentralized application development. It is a public, sharded, and proof-of-stake layer 1 blockchain, working as a community-run cloud platform. The NEAR Collective currently runs and maintains the protocol, and is actively pursuing development of usability environments for both developers and end-users.

Vorto Network, built by the Vorto Gaming AB team based in Sweden, is a dedicated ecosystem and marketplace built for gamers which enables gamers to generate value as they play with its play-to-earn model, powering an economy of game items and services based on how much time they spend on games. It is currently backed by Consensys and Yang Bing Kok, an investor of Coinmarketcap and Binance, as well as other notable angel investors in the video game industry.

“It’s undeniable that blockchain gaming, despite its promise and excitement, has seen slow adoption in recent years,” shared Vorto Gaming CEO Kristaps Vaivod. “We think there are two main reasons for that: bad UI and UX, and an unscalable blockchain infrastructure. We solve for the former, while NEAR for the latter,” Vaivod added.

Vorto’s user-friendly interface allows users to play their desired games even without connecting to an external crypto wallet for fees. The platform allows the resale value of game items to either be maintained or rise as it gets available among collectors.

“NEAR Protocol is made for developers just like Vorto Gaming,” said NEAR Foundation CEO Erik Trautman. “NEAR provides abstractions to hide as many of the underlying scalability solutions as possible, offering a high-performance sharded blockchain that preserves the build-test-deploy simplicity of a traditional development platform,” Trautman continued.

Vorto Network is currently developing its blockchain gaming hub on top of NEAR’s Rainbow Bridge. The blockchain gaming firm is also currently developing its flagship game, Hash Rush, to showcase the performance and interoperability that NEAR enables for its platform.

This tokenization of game assets and items allows for interoperability with other marketplaces and blockchains that are compatible with Vorto Network’s codebase. Its integrated marketplace hosts gaming assets from games registered to the Vorto ecosystem, all of which are represented through blockchain-based non-fungible tokens (NFTs).

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.