What is UpOnly (UPO) and How Does it Work? | KuCoin Crypto Gem Observer

2022/04/06 09:00:00

The blockchain gaming industry is rapidly transitioning into a lucrative sector ripe with opportunities for all involved parties. As a result, blockchain-based gaming models like play-to-earn (P2E) are quickly catching on, with the number of gamers and spectators in the space increasing significantly over the past few years.

Analysts believe the online gaming industry will generate revenue exceeding $33.773 billion by 2026. However, despite the rising popularity of play-to-earn gaming, the sector lacks reliable, exhaustive data to inform gamers and spectators of the current state of the market. Current data providers only focus on elementary data like users and data volume.

The lack of comprehensive data on the best paying P2E games, tournaments, and new releases discourage spectators and gamers from venturing into the burgeoning industry, despite its vast financial promise.

To address this issue, UpOnly offers in-depth data on the P2E market and the decentralized infrastructure powering it. In doing so, the platform helps spectators bet on the outcome of P2E games. Watch KuCoin YouTube video for a deep dive of UPO:https://www.youtube.com/watch?v=u28hUcEFfFQ

How Does UpOnly work?

UpOnly works by tapping into a centralized database architecture to collect in-depth data on P2E games. UpOnly seeks to become the trusted data source for P2E games, just like how CoinMarketCap and CoinGecko are leading data aggregators in the crypto market,

The UpOnly data directory will achieve this by gleaning real-time data from P2E games by leveraging data query solutions like The Graph. The database will retrieve various information, including price sizes, data on active games, and odds of winning P2E prize pools, to mention a few.

On top of this, UpOnly will also provide data on the best performing P2E platforms in terms of platform usage and the price movement of their native tokens. For instance, UpOnly members can share links to news related to the P2E projects listed on the database.

This information would further equip the database to provide insightful and actionable data, which community members can use to get well-versed with P2E markets. The data directory does not have a limit on the games it can support. As such, UpOnly will be able to add new P2E projects as they launch.

To support P2E gamers, the UpOnly platform will provide data on which games have the highest rewards and the least competition.

Additionally, UpOnly will provide data on the best performing P2E platforms in terms of platform usage and price movements of their native tokens. This data will also benefit spectators, informing them of the most active and exciting games to watch.

What Makes UpOnly Unique?

Unlike other data aggregators, which focus on only providing information, UpOnly seeks to launch a decentralized infrastructure that allows members to speculate on the outcome of P2E games. By doing so, UpOnly will help make spectating a viable and reliable source of income.

UpOnly’s native token, UPO, will be at the center of the speculation platform. Spectators that want to predict the outcomes of P2E games must hold this token.

This platform will work like betting sites, where members will need to stake some of their UPO to bet on a game. Should the stars align in their favor, they will get more tokens. If not, they will lose the staked tokens.

UpOnly also seeks to launch a metaverse directory, which will provide all relevant data regarding projects in various virtual worlds. With the metaverse housing P2E games, gamers or spectators looking to establish a virtual presence in the metaverse will be well-positioned to make informed decisions or purchases.

The UpOnly metaverse directory will offer information on digital land purchases, land and goods available for sale, the level of liquidity, users, interactions, and developers who are building in a specific metaverse.

Who Created UpOnly?

The UpOnly team is led by CEO Natthapol Assarasakorn who has a global background in marketing, trade finance, business administration, and blockchain technology. Assarasakorn has worked with several large scale multinational enterprises to improve operational costs by implementing DLT solutions. As of December 2021, the team comprised 25 members.

Closing Thoughts

As the gaming industry continues growing, so does the need for accurate, comprehensive data. Through its speculation platform and data directory, the project is positioning itself as the go-to data provider for blockchain games. In so doing, UpOnly is primed to help gamers and spectators looking to profit from P2E games.

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