Gaming giant Konami launches Resella platform on Avalanche ecosystem, AVAX still struggling in weak market
The Avalanche blockchain, AVAX, was founded by Cornell University professor Emin Gün Sirer. The development team can use smart contracts to build decentralized financial products, gaming platforms, and NFT platforms. Its token price reached a historical high of $144.96 on November 21, 2021, but has dropped to $24 as of the time of writing. On the 20th, Konami announced a collaboration with Avalanche to develop the Resella blockchain, promoting the company's gaming innovation. Avalanche's token price continues to decline due to low market liquidity, with a 36% decrease in the past 30 days.
KONAMI is building a blockchain.
— Avalanche 🔺 (@avax) June 20, 2024
Resella, a gaming focused L1 powered by Avalanche, is the latest innovation from a company that’s made video games for half a century.
Crafted to meet the needs of both game developers and users, here’s what to expect from @Konami’s Resella.👇 pic.twitter.com/9gs72LaSm0
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The digital entertainment company under Japan's leading gaming company Konami will collaborate on building a new Web 3 platform Resella using Avalanche's technology in the Avalanche ecosystem. With the Avalanche consensus mechanism, they will upgrade and expand the custom subnet to encrypt and verify membership qualifications and token game rules.
Resella platform does not charge Gas Fees for network fuel costs, allowing Japanese users to directly trade in Japanese Yen without the need for users to create cryptocurrency wallets. The game can also be promoted to users in other regions globally through blockchain technology. Konami plans to use Resella for scenarios such as using in-game NFTs as event tickets or unlocking exclusive content across different platforms.
Resella will be built on the Avalanche subnet or create an exclusive network, providing customized functions beyond the main network. Resella is not only used for games but also serves as a bridge connecting other platforms to the Web3 blockchain. KONAMI aims to establish Resella for developing more commercial application scenarios.
EVM Technology Driving New Business Profit ModelsIt was reported that Citigroup is using Avalanche AVAX's Spruce Subnet to test tokenization of private equity funds, attempting to leverage blockchain technology to develop new business profit models and improve market efficiency.
KONAMI's adoption also highlights the corporate demand for blockchain applications, with a focus on private chains. However, the impact on public chain token prices is not significant.