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DeFi platform Hxro has announced the establishment of Bitblox Games, a gaming studio set to create on-chain gambling games using Hxro's Solana-based infrastructure, with its CEO being Hxro's VP of Business Development, Brandt Page.
Announcing the new development on Thursday, Hxro explained that Bitblox Games would become a hub where "OG degens converge with crypto degens," referring to risk-seeking traders or "degenerates" in the crypto world. This move by Hxro aims to tap into the untapped niche of on-chain gaming, which incorporates crypto transactions or data stored on a crypto network.
“Bitblox will bring the online gambling industry into the Web3 era, supporting Hxro Network’s goal to be the world’s largest on-chain source of derivatives and igaming liquidity,” said Hxro co-founder Dan Gunsberg.
While the gambling sector considers its offerings as a form of gaming, several prominent video game streamers and streaming platforms, including Twitch, have recently voiced their opposition to online gambling, labeling unregulated gambling sites as "unsafe" in a blog post and prohibiting creators from live streaming online gambling sites like Stake, which enables users to gamble using cryptocurrencies.
Blockchain technology has been causing a stir in the gaming industry, with developers exploring how it can be used to create innovative new games that allow players to earn cryptocurrency as they play. However, the emerging sector of the industry is facing some pushback from traditional gamers who view the use of non-fungible tokens (NFTs) and play-to-earn gaming as exploitative.
Critics argue that these games essentially use players as cheap labor and that commodifying in-game items leads to inflated prices and unfair advantages for those with the means to invest in these platforms. Despite these concerns, many developers are continuing to experiment with blockchain in gaming, with some predicting that it could represent the future of the industry.
