Quick Take:
- Justin Kan has launched an NFT marketplace called Fractal on Solana.
- The Twitch co-founder enters the non-fungible token market with gaming NFTs.
- Solana’s proof-of-stake ecosystem is home to a fast-growing metaverse project primed for launch early next year.
Twitch co-founder Justin Kan is one of the most iconic technological innovators in the streaming space. After launching a series of media-related platforms, he is venturing into the metaverse with Fractal gaming NFTs on the Solana platform.
Fractal is a marketplace for in-game assets and virtual worlds. The platform allows gaming companies to integrate the ecosystem into their platforms, allowing players to use in-game assets as NFTs.
Solana is quickly becoming popular among developer apps creators as it grows its market share to compete with leading NFT platforms like OpenSea. Fractal is built on Solana’s expanding blockchain network.
Fractal is targeting opportunities in play-to-earn gaming, which allows gamers to buy avatars and other digital features.
The platform already supports multiple games that already offer in-game assets to players. However, Kan wants the platform to offer similar services to Kickstarter to blockchain game developers. As a result, users can purchase pre-sale NFTs, thus financing the creation of the games.
As a result, users could have voting rights for the development of the games. The platform is scheduled to go public within weeks.
Speaking to TechCrunch, Kan said that he believes Solana is the future of gaming. The network’s proof-of-stake ecosystem allows developers to create high-bandwidth projects that attract low fees, thus making it the perfect home for blockchain gaming.
Leading open-source blockchain network Ethereum is a proof-of-work ecosystem, which increases the cost of executing a transaction, while also taking longer to complete transactions. Crypto enthusiasts think this could be a major obstacle for Ethereum’s growth potential in the future, although it is still regarded as the best place for DeFi and smart contracts.
Solana’s popularity helped to propel the price of its utility token SOL from under $2 to well over $250 before a significant correction kicked in in November.
After liquidating one of his first startups, Atrium, Kan chose to focus on YouTube and podcasting, while building an incubator fund Goat Capital, built with partner Robin Chan.
Fractal is one of the first projects to come out of the incubator.
The platform will benefit from falling transaction fees and listing friction as more scalable user-friendly blockchain platforms continue to hit the market.
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