How Blockchain and Smart Contracts Revolutionize Procurement

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Table of Content

In today edition we talk about

• "Off The Grid" Introduces Blockchain Gaming to Mainstream Audiences

• Gate Ventures, Movement Labs, and Boon Ventures Launch $20M Crypto Fund to Boost Move-Based Projects

• Andre Cronje Criticizes Appchains, Sparking Debate Over Costs and Liquidity Issues

• How Blockchain and Smart Contracts Revolutionize Procurement

"Off The Grid" Introduces Blockchain Gaming to Mainstream Audiences

A recent survey by Elympics revealed that 57% of gamers have played pay-to-win games to collect airdrops. Gunzilla Games' "Off The Grid," a free-to-play third-person battle royale, has quickly become the top-ranked free-to-play game on the Epic Games store. Despite being in early access, the game gained significant traction on Twitch, with over 154,000 viewers tuning in on October 11. Built on the Avalanche subnet GUNZ, "Off The Grid" allows players to mint NFTs representing in-game assets like weapons and skins. These NFTs enable players to retain ownership and trade items in secondary markets.As a AAA game, "Off The Grid" aims to shift blockchain gaming away from unsustainable token-focused models, prioritizing engaging gameplay instead. Many in the industry believe this approach is key to attracting and retaining players long-term. However, a recent survey also highlighted that over 10% of respondents have never tried blockchain games due to the complexity of crypto wallets, signaling a barrier to wider adoption.

Gate Ventures, Movement Labs, and Boon Ventures Launch $20M Crypto Fund to Boost Move-Based Projects

Gate Ventures, Boon Ventures, and Movement Labs have launched a $20 million fund aimed at supporting Web3 startups, particularly those utilizing the Move programming language and bridging with Ethereum-compatible (EVM) applications. Announced on October 13, the fund will focus on protocols related to decentralized finance (DeFi), GameFi, NFTs, and interoperability between Move and EVM ecosystems. Startups funded by this initiative will also gain access to mentorship programs, hackathons, and research grants focused on blockchain interoperability. Movement Labs, developed using the Move language from Meta, aims to integrate Move and Ethereum transactions through its upcoming layer-2 mainnet. This initiative follows Movement Labs' recent $38 million funding round, further solidifying efforts to foster liquidity and developer adoption across platforms.

Andre Cronje Criticizes Appchains, Sparking Debate Over Costs and Liquidity Issues

Andre Cronje, co-founder of Sonic Labs, criticized layer-2 (L2) appchains in an October 13 post, citing high infrastructure costs, fragmented liquidity, and limited developer support as barriers to adoption. Cronje pointed out that his team's infrastructure expenses have reached $14 million this year, making appchains impractical for many developers. However, Hilmar Orth of Gelato Network disagreed, arguing that rollup-as-a-service (RaaS) providers make infrastructure more accessible. Marc Boiron of Polygon Labs also countered Cronje's concerns about liquidity, promoting the AggLayer as a solution to liquidity fragmentation. The debate has drawn attention, with differing opinions on the future of L2 appchains and their community impact.

How Blockchain and Smart Contracts Revolutionize Procurement

Traditional procurement processes are often manual, inefficient, and prone to errors. Blockchain technology can streamline these operations by making them faster, more transparent, and cost-effective. Blockchain enables secure, immutable records of procurement activities, reducing errors and fraud, while smart contracts automate tasks such as payments and tracking deliveries. Smart contracts can enhance procurement by automating contract execution and ensuring compliance. For instance, payments can be triggered automatically when goods are delivered. This improves efficiency, transparency, and trust between parties. However, companies face challenges in adopting blockchain due to technical complexity, regulatory uncertainty, and the lack of standardization across blockchain networks. Despite these hurdles, blockchain and smart contracts hold the potential to transform procurement by reducing costs, increasing transparency, and enhancing dispute resolution.

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