Harmony Partners with Game Space to Scale Web3 Games on Shard 1
Harmony is a Proof-of-Stake blockchain with fast finality launched on Mainnet in June 2019. Harmony has entered a strategic partnership with Game Space, a one-stop GameFi-as-a-service [GaaS] platform. Harmony's integration with Game Space will transform GameFi by helping traditional Web2 games enter the world of Web3, reducing the time and cost of on-chain game development.
Game Space provides an embedded SDK which allows the Web2 gaming company to embed an NFT Marketplace and token wallet directly into their game. Game Space also provides a customized platform SDK version which enables the Web2 gaming company to have an NFT Marketplace and standalone token wallet.
Harmony was the first blockchain to combine Proof-of-stake and sharding. Sharding is the ideal scalability solution: it distributes data across multiple machines in a way that preserves both security and decentralization. Harmony uses four types of shards, each with a limit of 250 validators: shard 0 (the "Beacon Chain," responsible for transmitting information between different shards), and shards 1, 2, and 3. Harmony perfectly executes sharding, creating a highly scalable, fast, and secure blockchain that confirms transactions with negligible fees.
"Harmony has built the blockchain infrastructure for GameFi builders," said Harmony Founder Stephen Tse. "We are excited to partner with Game Space to support the next generation of games and to help scale mass adoption of Web3 via sharding technology. Our shard 1 will be the new home for Web3 game builders."
"I am thrilled to work with Harmony," said Cameron CEO of Game Space. "Our SDK can help Web2 gaming companies to deploy their games on Web3 in a matter of days. We provide an embedded NFT marketplace, wallet integration, and one-click multi-chain deployment solutions with full support for iOS, Android and web."
Harmony and Game Space adopt leading SMPC (Secure Multi-Party Computation) technology to generate distributed private key shards, so that the original private key is available but invisible. The private key shards are managed by multiple parties ensuring asset security, which effectively avoids the single point of risk caused by a single private key.
Harmony and Game Space provide a full-support token wallet integration that allows the Web3 gamers to withdraw, deposit and swap token assets. Wallet Connect is also provided as a simple and secure way to manage users' crypto assets.
Currently, GameFi penetration only accounts for 2.5% of the global gaming landscape, and the total number of active GameFi users accounts for no more than 1% of the world's 3 billion gamers, leaving plenty of room for massive growth. In the long run, GameFi will become the key accelerator across the gaming industry's consumer ecosystem, and the industry is predicted to be worth $2.8 Billion in 2028.
Both Harmony and Game Space will continue to promote GameFi and NFT-related projects and boost Web3 adoption on a global scale.