Building web3 gaming guilds: Parallel’s Bonds system
Parallel's Bonds system revolutionizes Web3 gaming by offering players seamless, trustless access to Parallel’s cards, breaking down barriers and fostering a fair, inclusive gaming experience for all.
ChainSafe Gaming is thrilled at the release of Parallel’s Bonds—a tailor-made, blockchain-based gaming guild marking the most recent collaborative effort between Parallel, Echelon Prime and ChainSafe Gaming.
“A major proof of concept in the web3 gaming space.” ParagonsDAO
With the Bonds release, Parallel and Echelon Prime solidify themselves as a vanguard of innovation in the web3 gaming space and the gaming industry at large.
The long-standing concept of a gaming guild (à la World of Warcraft, Guild Wars, you name it) has reached web3 in a way that both enhances Parallel’s community and the game itself, leveraging blockchain technology for a brand-new use case.
This advancement directly impacts web3 gaming experiences, investor entries and ongoing growth in the GameFi ecosystem (read: ABGA's 2024 report). It is also a signal of mainstream acceptance for the broader blockchain gaming industry, decentralized organizations, DeFi applications, and the blockchain sector at large. High-quality blockchain-powered games like Parallel continue to push the feasibility of this sector in the gaming market and drive overall cryptocurrency adoption.
We’re particularly excited to see how gaming guilds will proliferate throughout web3 gaming projects following Bonds. This innovative gaming product delivers a stronger sense of immersion, a newfound social circle, a clean user experience and brand-new incentives like expanded income for lenders and borrowers alike.
What is Parallel’s Bonds system?
For the uninitiated, Parallel is one of web3's darlings and most popular games to date.
All Parallel gamers can now enter a mutually beneficial gaming community to pool game assets, share game profits, and play more effectively.
Bonds are both a private and customizable web3 version of the traditional gaming guild we all know and love. Developed by ChainSafe Gaming, this system leverages web3 functionality to securely manage NFT borrowing and lending within the confines of the game’s ecosystem.
Been wanting to try @ParallelTCG without having to buy or grind out all the cards you like?
— Echelon (@EchelonFND) September 11, 2024
You need to join a bond.
Tune in today at noon EST to take a look at the Echelon Bonds platform and hear from 4 of the 5 alpha bonds.
Location: https://t.co/XTbbOp8VBI https://t.co/sS2B7dpoqn
Users in a Bond can borrow cards from the lending pool for free, helping them complete their decks and jack up their win rate. Card owners can loan NFT playing cards to the Bond’s pool, taking a cut of any PRIME winnings accrued by other members.
How the Bonds system works
For an in-depth look at how the Bonds system will function (dividing capital rewards and more), be sure to check out Echelon's alpha-release blog article and documentation.
The Bonds system allows for easy and secure lending and borrowing of NFT cards using automated smart contracts. These contracts remove the risks of manual handling and human error, ensuring a transparent and trustless lending process. Cards can be organized into different quality pools, providing resources for players of all skill levels, from beginner starter decks to premium cards for top-tier players.
Echoing the principles of traditional scholarship programs, players who lack the financial resources to acquire expensive assets within games can now access them through merit. Bonds not only equalize opportunities between players but promote a diverse and competitive landscape in-game. Here, the emphasis shifts from having deep pockets to actual talent, allowing genuine skill and strategy to shine.
ParagonsDAO's collection, for example, serves as a form of capital within the ecosystem. This model extends the game's reach, nurturing a more expansive and inclusive community. ParagonsDAO has also expressed interest in a system of out-of-game achievements for members of their Bond.
Beyond gameplay, the Bonds' financial mechanisms let players generate income from game rewards using borrowed assets, rewarding both sides of the loan in a win-win situation.
The role of blockchain gaming guilds
Crypto gaming guilds (and GameFi in general), although nascent, offer significant benefits as a platform for gamers and game developers. To draw a line between the past and present, we can look at traditional gaming guilds and Parallel’s Bonds side by side.
Two major components define the concept of gaming guilds: an association of like-minded players and the gameplay features that guild status affords them. Anyone can adventure together, and that’s super fun, but joining or incorporating a player guild must include incentives.
Parallel has opened the Bonds system with five major, influential guilds integrated upon release:
🏅 @ParallelTCG Player Guilds you should be following@exile_xyz @ContagionBond @midnighters_xyz @ParagonsDAO @DevmonsGG
— AiRev // (@ParallelAiRev) July 10, 2024
ChainSafe Gaming spoke with ParagonsDAO guild leader “Flap Jackson” (we love web3 IDs) to see how a player Bond will affect the ecosystem. Members of ParagonsDAO jointly own the largest single collection of Parallel cards, a treasure horde that’s now accessible and open to gameplay.
“People have been doing this manually, for years—even in web3 gaming. Axie Infinity is a good example. There were a lot of groups doing the scholar program, managing through spreadsheets and putting a lot of trust in people to borrow assets, collateralize loans, and stuff like that—but the Bonds system allows trustless card lending without putting anybody at risk.” ParagonsDAO
ParagonsDAO, among the other major Bonds integrated on release, provided integral feedback on game development decisions related to Bonds while it was an early-stage product:
“We plan to eventually support over 5000 players in our bond, and we wanted to be able to sort our cards into asset pools of different quality. We want our top players to always have access to the best cards. ChainSafe Gaming and Echelon went and built that directly into the Bonds model, so we can now have up to three asset pools and sort Bonds members into tiered systems.” ParagonsDAO
Bonds formed by larger DAOs (decentralized autonomous organizations) enrich the game's ecosystem by actually extending the gameplay experience into third-party activities. Gaming DAOs contribute not only to the sustainability of blockchain games but also dissolve the barrier for newcomers that slow GameFi and web3 gaming adoption.
Major guilds like ParagonsDAO are extending Parallel’s gameplay experience, effectively decentralizing and adding new game activities—something web3/crypto game developers have discussed since our industry’s inception.
The purpose of Bonds
The aptly named “Bonds” is a platform for collaboration, a community connection, and a gaming hub for thousands of players to access and participate in the broader blockchain gaming industry.
It’s important to note that Parallel TCG is and always has been free to play—with the introduction of the Bonds system, players can unite to share game assets and play far more competitively than they could alone. Historically, gamers in the same guild are also prone to strategy sharing, eroding entry barriers for newcomers and the old salts alike.
From the studio’s perspective, joining a Bond helps gamers access and use PRIME, the native token used by Parallel and the greater Echelon ecosystem. Players earning PRIME—additional income they can send, sell, trade at high frequency, what-have-you—are also very likely to use it within the game’s boundaries.
PRIME holders can participate in the protocol governance structure, buy NFT game assets from Parallel, get signed copies of their favourite cards, form new Bonds, and lend out their cards. Bonds (and web3 gaming guilds in general) contribute to the overall health of the game, the proliferation of its digital assets, and its game token ecosystem.
Benefits of the Bonds system for players
The new Bonds system adds a new dimension to Parallel’s gameplay for everyone who participates. Players can attempt more experimental decks from the card pool, translating to a deeper connection to the game. But there’s an inherent social feature, too: symbiotic relationships.
The existing crypto gaming guilds integrated at launch plan to incorporate benefits like internal leaderboards, guild competitions, and coaching to maximize game profits and support for new players.
Did you buy a bunch of cool cards but can’t find time to play? Add them to your Bond’s lending pool and get a share of PRIME game tokens whenever a guildmate wins a game with them. The profit-sharing systems baked into player Bonds fairly distribute PRIME attained through gameplay to both lenders and borrowers. Perhaps you have more capital than skill, or vice versa, or you just think the cards are cool and bought a ton of them—joining or launching a Bond allows players and investors to form a mutually beneficial relationship.
Income opportunities increase for everyone in the Bond. With greater access to powerful cards, players are more likely to win and accrue PRIME. With greater access to skilled players, your loaner cards are more likely to work for you. Everyone fills a role in a crypto gaming guild: as they say, it takes two flints to make a fire.
Impact on the blockchain gaming ecosystem
Blockchain gaming has made incredible strides since the repetitive and sometimes controversial advent of the play-to-earn gaming model.
The Bonds system promotes inclusive participation by lowering financial barriers, allowing more players to engage in web3 games, regardless of their initial capital. Inclusivity only leads to a larger and more diverse player base, stimulating economic growth by enabling more players to earn from gaming and promoting growth and innovation within the game itself.
Moreover, the Bonds system could become a standard model for asset lending in web3 games, encouraging widespread adoption of decentralized finance (DeFi) principles in gaming. The Bonds system encourages traditional gamers to explore and adopt web3 games by simplifying access to valuable in-game assets, leading to an increase in adoption and a perspective shift on web3 as a source of legitimate games.
In terms of gaming, the system promotes a merit-based approach by rewarding players based on skill and performance rather than financial investment. Additionally, it enhances the gaming experience by providing access to high-quality assets, making it more enjoyable and competitive for players.
Tokenizing game assets and enabling lending increases their liquidity, allowing players to easily trade and access income opportunities while maintaining their value through secure and transparent lending and borrowing processes facilitated by the Bonds system.
Fostering a strong community: the heart of web3 gaming guilds
Communities have long revolved around playing games. The Bonds system fosters tight-knit communities within web3 gaming by encouraging collaboration and resource sharing, creating a sense of belonging among members. The system facilitates social interaction as players participate in lending and borrowing, ultimately building stronger relationships and networks within the game's community.
Concerning game assets, the Bonds system increases their utility by enabling use by multiple players, offering new economic incentives for players to acquire and use game assets. Crypto gaming guilds promote the economic viability of blockchain games by creating additional revenue streams for players and asset owners.
The Bonds system promotes long-term player engagement and retention by easing entry barriers and offering consistent earning opportunities. This could drive further innovation and development within blockchain games, securing their ongoing growth and long-term sustainability.
The gaming industry, and the future of gaming, will see increased importance placed on building and monetizing gaming communities through all stages of development. By allowing capital to flow into the game's ecosystem without barring entry by new players via crypto gaming guilds, empowering gaming DAOs to extend game activities into new venues and leveraging blockchains for all-new gaming experiences, systems like Parallel's Bonds stand to change the face of gaming as we know it.
About ChainSafe Gaming
The best games in web3 trust ChainSafe. We’ll work with you to accelerate production, open revenue streams, and grow your community.
ChainSafe is a leading blockchain research and development firm specializing in protocol engineering, cross-chain interoperability, and web3 gaming. As part of its mission to build innovative products for users and improved tooling for developers, ChainSafe embodies an open-source and community-oriented ethos to advance the future of the internet.
