Why we use Blockchain?
Blockchain provides verification and traceability of transactions, and that is very important for digital business. It’s secure, reduces compliance costs, and speeds up data transfer processing. Blockchain technology helps contract management and audit the origin of a product or services.
The benefits of adopting Blockchain technology in business:
- It is an immutable public digital ledger. All recorded transactions cannot be modified.
- Blockchain is encrypted and secure.
- Transactions are done instantly and transparently, as the ledger is updated automatically.
- Most blockchains are decentralized. Meaning, no intermediary fee is required. You only pay for using the network.
- All transaction are verified and confirmed by participants of the transaction.
- Blockchain can hold smart contracts, peaces of code that trigger a specific action after the conditions have been met.
- Developers have the ability to create (mint) digital collectables (NFT) and tokens that the players can use in various ways.
How we use blockchain in our game system
Simple, every point the player wins is a Nomi token on Algorand network, that token can later be used to buy new games, challenges and even merchandise. Basically we are building an award program that players or their parents can use to have more fun on the app and benefit from playing.
Besides the NT (nomi token), we award the players with Nomi NFTs when they complete specific challenges and games levels. These NFTs can boost the player’s game experience in many ways. They can also trade NFTs for tokens if they want.
The best part of using Algorand blockchain is the fact that players can transfer their tokens and NFTs to other games on Algorand in the Nomi ecosystem. That makes everything connected and much more immersive for the players.
But this is just the beginning, we plan to use blockchain for bigger things in the future.