SINGAPORE - South Korean crypto project Klaytn would provide rebates on gas fee payments made by gaming companies building on its network, it said on Wednesday during the ongoing Token 2049 conference in Singapore.
Gas fees refer to payments made by users to execute blockchain-based transactions or commands. Fees on networks like Ethereum have reached over $3,000 per transaction during times of network congestion, which may push potential users away from the network toward cheaper options.
The feature addresses a crucial pain point for blockchain games in onboarding new users: The need to acquire tokens to foot gas fees before being able to play.
Under the new gas fee rebate program, selected game companies will be eligible for a 100% offset of their gas fees incurred from January 2022 onwards for up to $100,000 worth of KLAY per month. Names of these companies were not shared with CoinDesk at writing time.
The grant is derived from the Klaytn Growth Fund, a fund that invests in...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...