March 28, 2024

Flow: the best blockchain for a new generation of games?

Flowis a fast, decentralized, and user-friendly blockchain designed as the foundation for the next generationgames, applications and NFTs. The project was launched in the fall of 2020 by the creators of the well-known NFT game CryptoKitties.

  • Price FLOW: $2.67
  • ATH: $43.35 (04/05/2021)
  • Drop from ATH: 93.8%
  • Intraday trading: ~$87 million
  • Market Cap: $2.77 billion
  • What problems does Flow solve?

    Over the past few years, low scalability andhigh commissions in the Ethereum blockchain significantly hampered the development of gaming projects. It was this inefficiency of Vitalik Buterin's blockchain that led the CryptoKitties developers to create the Flow blockchain.

    Benefits of Flow

    Flow provides many features thatmake it perfect for hosting NFT gaming Dapps. Flow was built with composability in mind, allowing developers to share common resources such as an existing user base, data, security, and running code. This convenient approach allows developers to build on each other's work and create advanced layered Dapps.

    Ecosystem

    The ecosystem of the project includes leadingentertainment brands, development studios and venture capital-backed startups. Flow partners include Warner Music, Ubisoft, NBA, UFC, Animoca Brands, Sumo Digital and nWay.

    $750 million development fund.

    This year, the Flow blockchain team has taken ona commitment to support developers and users on its network by announcing the creation of the Flow Ecosystem Development Fund. The fund raised $725 million to support applications that will be built on Flow.

    FLOW Token

    The platform runs on its own FLOW token,which allows developers and users to interact on the blockchain. The FLOW token is used to pay fees for actions on the network, and also participates in the security of the protocol (required by validators).

    Conclusion

    Flow is well established due to importantpartnerships, the quality of projects created and the performance of the blockchain. NFTs and crypto gaming have already shown significant adoption and Flow continues to provide innovation in this area. However, do not forget that the project is developing in the conditions of high competition of L1 blockchains.