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Game of Silks, the up-and-coming derivative horse racing Metaverse, continues to make inroads. A recent partnership with Arbitrum will enhance the project's throughput and liquidity. As developers need to find ways to alleviate Ethereum's bottlenecks, a logical step.
A Solid Move By Game Of Silks
Any developer building on Ethereum today needs to be aware of the network's limitations. While Ethereum provides top-notch network security and developer tools, it is held back by a slow throughput and high transaction fees. Many of these issues will be resolved when the network merges with the Beacon Chain. Unfortunately, that merge has been pushed back by several months, forcing GameFi and Metaverse developers to explore other solutions.
The team behind Game of SIlks, who recently secured $2 million in funding, acknowledges the need for better scalability. After exploring all of the layer-2 solutions running on top of Ethereum's chain, they opted for Arbitrum. That choice makes sense, as Arbitrum has a high throughput, much lower fees, and is fully EVM compatible. The Silks developers can use their trusted coding tools and programming language while building on the Layer-2 stack.
Offchain Labs CSO A.J. Warner adds:
“We are thrilled to be working with the Game of Silks team to bring their horse racing themed Metaverse to Arbitrum. As the Arbitrum ecosystem continues to grow, new verticals and user experiences will proliferate in a secure, cheap and fast execution environment. We are excited to see what the Game of Silks team has in store.”
Through mixed-reality technology, the Game of Silks team will bring thoroughbred horse racing into the Metaverse. Real-world horses will be tokenized as NFTs, exposing holders to their performance, breeding, and training. As horses perform better, NFT hodlers will earn valuable tokens. Additionally, the Silks Metaverse will feature interaction with other NFTs, including Stables, Land, etc.
Arbitrum Continues To Grow
The partnership with Game of Silks is another crucial development for the Arbitrum ecosystem. The Layer-2 scaling solution provides benefits to developers across various verticals will benefit from. Better scaling, lower fees, and EVM compatibility make it easy for developers to port their existing or future projects to Arbitrum. Several DeFi projects have begun exploring cross-chain options.
Speaking of DeFi, Arbitrum represents nearly $3 billion in Total Value Locked (TVL) today. That is still a far cry from Ethereum's $130 billion, yet it contributes to Arbitrum becoming the most liquid Layer-2 solution built on Ethereum today. That is part of the reason why Game of Silks partnered with this ecosystem, as it checks all of the right boxes. When building a Metaverse with GameFi elements, liquidity is crucial.
Furthermore, this partnership increases the scalability of the Silks ecosystem and its derivative Metaverse. Better scalability will enhance the Silks on-platform user experience.
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