Cryptocurrency has gained popularity among users in India in recent years. At the forefront of this is WazirX, an India-based crypto trading platform. In many ways, a crypto trading platform is a gateway to other Web3-based applications and use cases. A trading platform can help you sell your in-game tokens by listing them on the platform. But as the applications of blockchain technology increase, there is also an immediate need for web-based marketplaces3. These marketplaces can help you sell your in-game assets and NFTs (non-fungible tokens) and this is where Tegro aims to help users. Founded by WazirX co-founder Siddharth Menon in partnership with Pune-based game developers SuperGaming, Tegro is a marketplace for Web3 assets.
Tegro’s core mission is to create a marketplace where users can invest in Web3 assets without necessarily having to play the game. Currently, each game’s marketplace is separate and there is no common platform for investors to trade Web3 assets from popular securities.
The Tegro market at a glance
Tegro is focused on transforming Web3 articles into an investable asset class. This will in turn lead to more cash flow and higher user interest. Siddhart,”Any asset, without the right fundamentals, will fail. Most existing Web3 games are unsustainable. One of the main reasons is that they rely too much on NFTs and NFT liquidity dries up during bear markets.”
Although this is a general statement, it justifies the current state of blockchain gaming. Many projects rely too heavily on blockchain technology while failing to incorporate the Web2 concepts that make gaming interesting. This often leads to dwindling user interest after the initial hype subsides. To achieve a successful in-game economy, Siddharth says there must be at least three sub-categories. Tegronomics, the framework developed by Tegro to help scale Web3 games, inculcates the use of all three types to form an ideal system. The subcategories are:
This category brings together everything that is essential and forms the basis of a game. Therefore, need-based articles should focus on the use of Fungible Tokens (FT) as they ensure durability and high liquidity. The use of NFTs here can lead to devaluation of assets and should be avoided.
Wish-based items are generally rare but always easier to obtain. Users venture into Desire-based items as they progress through the game. These are not uncommon and are usually unlocked after the user has spent certain hours playing the game.
Economy based on success
This is essentially the only place where companies should integrate the use of NFTs. Achievement-based items are usually available in very limited quantities. Low supply and high demand ensure that the NFTs companies launch are valuable and help retain user interest.
Tegro sincerely believes that to ensure the success of a Web3 game, the economy must be built in a sustainable way. With FTs as the centerpiece, game developers can ensure that the game economy doesn’t dry up during a bear market. To help establish this framework, Tegro launched Tegronomics. Using the Tegronomics framework, companies will be able to create scalable and sustainable game economies for their games. This is also where the SuperGaming experience comes in. As a company, Super Gaming has created many fan-favorite titles like MaskGun and Silly Royale. Games like are an example of how Tegronomics can be leveraged to help build sustainable gaming economies.
Tegro’s future plans
Although Tegro has a well-rounded mission, it is still in the very early stages of development. Tegro’s future plans include Marketplace Software Development Kit (SDK), Asset Stats and API. Tegro also plans to launch the first phase of development in August, which will primarily prioritize building exchanges and incubating games. From now on, the only revenue Tegro will generate will come from merchant exchange fees. Speaking about the Tegro competition, Siddharth explained: “We have indirect competitors for different parts of the ecosystem. For example, while there are horizontal marketplaces that offer gaming tokens, we are building the world’s first gaming asset marketplace for institutional investors.”
This story was written in partnership with Linx Games
Linx Games is a blockchain game distribution community platform for gamers and developers to interact, socialize, and exchange ideas.