Game X Change: Cross-Game Asset and NFT Interoperability Platform

Game X Change Project Introduction (Discontinued)

Friends, today let's talk about a blockchain gaming project that once existed, called Game X Change, with the token ticker EXP. However, before we dive in, there is a very important piece of information you need to know: The Game X Change project has announced the cessation of operations and will officially terminate all services on November 1, 2024. This means its community channels, social media, platform support, in-game currency network, and NFT marketplace have all been shut down. Users are advised to withdraw all associated assets and in-game currency from the platform before this date, or they may be lost.

Although the project has ended, we can still look back at its vision and attempts, which is helpful for understanding the development and challenges of the blockchain gaming sector.

What is Game X Change

Imagine you play many different games, and each game has its own unique virtual currencies and items (like skins, equipment, etc.). These things are usually only usable within their respective games and can't be taken to other games—just like you can't spend coins from Honor of Kings directly in PUBG Mobile. Game X Change was like a “game asset transfer station” or “game item exchange center.” Its goal was to allow players to safely and controllably transfer these virtual assets (including virtual currencies and NFTs, i.e., non-fungible tokens) from one game, platform, or even blockchain to another game, platform, or blockchain.

Non-Fungible Tokens (NFTs): You can think of these as “digital collectibles” or “digital property certificates” on the blockchain. Each one is unique and irreplaceable, and can represent ownership of any digital asset such as images, music, or in-game items.

Project Vision and Core Features

The core vision of Game X Change was to empower players to truly own their in-game assets. The main problem it aimed to solve was the “island effect” of assets in traditional games, where assets are locked within specific games and cannot be freely transferred or traded. Through Game X Change, players could:

• Transfer assets across games: Move virtual currencies or NFTs earned in one game to another game for use.
• Play & Earn model: Earn rewards by playing games and convert these rewards into EXP tokens or other cryptocurrencies.
• NFT applications: Use purchased NFTs directly in different integrated games.
• Steam game integration: Even use NFT passes to play Steam games like PUBG, Rocket League, and CSGO, and convert in-game achievements into EXP tokens.

For game developers, Game X Change provided a set of tools and technologies to help them integrate blockchain technology into their games, create digital assets and currencies, and thus add a new economic layer to their games.

Tokenomics (EXP)

The native utility token of Game X Change was $EXP. Its design had several features:

• Deflationary mechanism: $EXP was a deflationary gamified reflection token.
• Reward mechanism: Each transaction provided a 2% return to the entire play-to-earn platform.
• Buyback and burn: 4% of tokens were used for buyback and burn, helping to reduce the total token supply in the market.
• Participation threshold: Players needed to hold $EXP to play games and interact with the Game X Change ecosystem. Without holding $EXP, users could only view platform assets but not play games.
• NFT passes: After holding $EXP, players also needed to purchase game-specific NFT entry passes (Non-Fungible Passes) to convert in-game currency into $EXP and other tokens, and unlock play-to-earn features.

According to CoinMooner, the EXP contract address is on the BSC network, with a total supply of about 1.489 billion tokens and a circulating supply of about 1.478 billion tokens.

Project History and Legacy

The Game X Change team once stated that they were the first blockchain gaming company to publicly propose transferring in-game currency from games to cryptocurrency, and had patent applications for the related technology. Their platform once had over 300,000 users, and it was among the first to integrate in-game currency into games on the Apple Store and Google Play, as well as one of the earliest crypto games to integrate with Steam. All of this demonstrates its active role in the early exploration of blockchain gaming.

Common Risk Reminders

Although the Game X Change project has ceased operations, its experience also reminds us that in the blockchain and cryptocurrency space, projects face multifaceted risks:

• Market dynamics: In the shutdown announcement, the team mentioned that changes in market dynamics and the ever-evolving nature of blockchain technology made it difficult to continue operating according to their original vision. This shows that even with innovative technology and a user base, projects may face huge challenges due to changes in the market environment.
• Technical and operational risks: Any blockchain project may face technical risks such as smart contract vulnerabilities, network attacks, and platform maintenance, as well as operational risks like team management and fund management.
• Compliance risks: Regulatory policies for cryptocurrencies and blockchain vary globally and are constantly changing, which may pose compliance challenges for projects.

Project Summary

Game X Change was once an ambitious blockchain gaming project dedicated to breaking the barriers of traditional game assets and providing players with greater freedom of asset ownership and transfer. It explored play-to-earn and cross-game asset transfer early on, achieving a certain user base and technical milestones. However, due to changes in the market environment and operational considerations, the project ultimately chose to cease operations. Its case reminds us that innovation in the blockchain space is full of opportunities, but also comes with high risks and uncertainty.

Please note: The above content is an objective introduction to the Game X Change project and does not constitute any investment advice. The cryptocurrency market is highly volatile and risky. Please be sure to conduct thorough personal research and risk assessment.