PARAMETA Launches Web3 Game Transforming, a Web3 Transition Support Program for Game Company Partners
April 4, 2023, Seoul — Web3 Enabler PARAMETA (formerly ICONLOOP, CEO JH Kim) announced that it is unveiling Web3 Game Transforming, a Web3 transition support program for game companies, and opening partner applications.
Web3 Game Transforming is a business transition support program covering the entire Web3 transition process — from specialist technical consulting through to the technology needed for actual development — for game company partners preparing for a Web3 transition or needing to expand into Web3. PARAMETA developed the program as it prepares to add a custody service to PARAMETA W (Wallet as a Service), using wallets operated by VASP-licensed businesses. Drawing on its distinctive Web3 and blockchain technology and years of accumulated expertise, the company plans to support a Web3 transition optimized for each partner.
For the 10 game companies selected as Web3 Game Transforming partners, PARAMETA will provide: ▲ specialist technical consulting on Web3 transition strategy, technology selection, and development approach ▲ technical support for the Web3 transition built on PARAMETA W ▲ development support for DID (Decentralized Identifier), PDS (Personal Data Storage), and other technologies required for the transition ▲ custody service support using VASPs (in preparation) ▲ support in resolving security issues that may arise during the transition ▲ developer education and training on Web3 technology and related tools.
The program runs on PARAMETA W, the company's trustworthy custody-based key management service. PARAMETA W is a flagship PARAMETA service that lets businesses apply a Web3 wallet through API integration without building their own infrastructure. It enables secure management of personal identity and data through DID and PDS technology, and provides a straightforward yet powerful Web3 wallet built around convenient UX.
The company will in particular offer a custody service with proven security and usability — covering KYC (know your customer), AML (anti-money laundering), and FDS (fraud detection systems) — by using wallets from exchanges operating safely under VASP licenses. It is currently in discussions on technical collaboration with exchanges including Coinone.
The most important element in a Web3 game, where data management is user-centered, is secure private key management. With a non-custody approach, a lost private key cannot be recovered, creating a substantial risk of asset loss. In that light, PARAMETA W's VASP-based custody service is expected to substantially reduce the risk of users losing assets through more secure private key management, while also offering ease of use.
Playing a Web3 game normally requires users to install a Web3 wallet themselves, or requires the game company to implement wallet functionality within the game — an area demanding considerable expertise that has proven difficult for game companies to develop in-house. PARAMETA W can substantially improve usability for both users and developers, through UX convenience that reproduces the development environment of existing Web2 games.
PARAMETA is accepting Web3 Game Transforming partner applications through its website (https://parametacorp.com/web3gametransforming/) until April 24, and will select 10 game companies as program partners to support their Web3 transition.
"As new business creation accelerates in the Web3 era, the transition to Web3 is no longer optional for game companies in particular — it is essential," said PARAMETA CEO JH Kim. "Building on the considerable advantage of being able to offer a VASP-based custody service through PARAMETA W, PARAMETA will actively support the successful Web3 transition of our game company partners."
PARAMETA W is also set to be applied to Perme, the Web3 data protocol PARAMETA is building in collaboration with CIZION, operator of LiveRe — Asia's largest social commenting platform.
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