In this guide, we overview Lingose (LING) which is an emerging GameFi infrastructure project that has been one of the best-performing assets in 2023.
Find out why it has outperformed the market and other GameFi protocols, and why we believe it has strong potential to become the leading platform in the virtual economy.
Lingose GameFi Overview
- Popular multi-chain GameFi Passport ID and Metaverse Passport
- One of the top performing tokens in the GameFi sector throughout 2022.
- Available on large centralized exchanges like Bybit, Gate.io and Binance.
What is Lingose?
Lingose is building a critical piece of GameFi infrastructure as it aims to establish a universal Game ID protocol that is bound by smart contracts. This would enable blockchain users to create an on-chain credential that will track user behaviors and provide scoring as you interact with Web3 protocols and games.
The Game ID being built by Lingose is referred to as the "Lingose ID". This will act as a passport for users' Web3 gaming adventures and will track your accomplishments as you navigate the multi-chain gaming world. The Lingose ID will act as a social identity passport that will track your EXP in various games and highlight all of your achievements to other gamers.
The technical term for the smart contract behind Game ID is Proof of Play or 'POP' - which is an NFT based on the ERC-721 standard. The Lingose ID will be deployed multi-chain and is already compatible with games on various networks including ETH, BNB Chain, OKC Chain and Polygon.
What are Lingose Campaigns?
Lingose Campaigns are tasks and quests from participating GameFi and blockchain gaming applications that allow users to earn XP and tokens for completing the tasks. These campaigns are designed to be fun, engaging and rewarding for gamers, allowing them to earn rewards for things like playing featured games, joining tournaments or participating in airdrops. The Lingose Campaigns layer will act as an incentive-based platform that will reward users for all sorts of gaming related activities.
Lingose has created a novel token economic model that is designed to empower users in Web3.0 gaming by incentivizing campaigns that payout LGT rewards. The team behind Lingose believes that this mechanic can greatly increase participation and network effects of the Lingose Game ID. The campaigns will look similar to Xbox or Playstation Trophies, where users need to complete set tasks to earn rewards.
In accordance with their official token distribution, Lingose has set aside 25% of the total supply of 10,000,000,000 LGT tokens for user rewards. Outside of this, another 20% will go to the ecosystem fund and 15% for the community treasury which highlights that Lingose are putting a lot of capital aside to bootstrap growth. You can read more about their token distribution here.
In summary, Lingose is an innovative GameFi infrastructure project, poised to revolutionize the virtual economy with its universal Game ID protocol. By enabling users to create on-chain credentials that track their gaming achievements and interactions across various Web3 protocols, Lingose paves the way for a more interconnected gaming experience. With rewarding campaigns, a well-designed tokenomics model, and strong potential for growth, Lingose is well-positioned to become a leading platform in the GameFi space.
Andrew Chen is a lead editor and auditor of content for Buy Bitcoin Bank, with a Masters of Computer Science and extensive knowledge in cryptocurrency and blockchain technology. He has helped ensure the accuracy and quality of the platform's educational resources for new and experienced investors in the crypto space.