NFT and Web3 game console launched in 2024, Chinese companies check ID for NFT purchases

by James · July 6, 2022

NFT and Web3 game console launched in 2024, Chinese companies check ID for NFT purchases

The ‘Polium One’ console will be available in Q3 2024 and compatible with eight blockchains

By Shashank Bhardwaj

Image: Shutterstock

A web3 game-focused company, Polium, has announced the release of a multi-chain game console, ‘Polium One’, which will support eight blockchains and NFTs (non-fungible tokens) on Monday. It will be compatible with blockchains Solana, Polygon, Ethereum, Immutable X, EOS, Harmony and WAX. The company identifies as a company that “builds the products and infrastructure for Web3 games.”

Not much information is given about the console’s specifications. However, the listed specifications include that the console will support 4K Ultra HD resolution at 120 frames per second. Polium also claims that the community will help with the development of the console’s hardware and software, and that a functional prototype will be available in “a few months”.

The price for the console has not yet been announced. However, Polium intends to issue a Polium Pass NFT, which will allow holders to require a console on the first day of its official release. Passholders will receive an additional NFT, which can be bet for a PLAY token, the console’s original token for transactions on the marketplace app, in the future.

The company has also stated that the “Polium One” console will include its own multi-chain crypto wallet and a wallet button on the controller to help users make more efficient trades. A fingerprint scanner on the controller will enable security and verification of console transactions.

Polium will distribute approximately 10,000 consoles to Polium Pass holders and partners at the first launch in Q3 of 2024. More units of the console will be made available to the public in Q3 2025. Polium has set a sales target of one million units. The company has already faced setbacks for its logo, which is similar to another well-known platform, the Nintendo GameCube. Polium claims that it did not replicate the logo and is now working on a new logo “which is original”.

Chinese companies check ID for NFT purchases

According to a South China Morning Post report on Monday, China’s NFT players and the country’s major technology companies have agreed to verify customers using digital collector platforms.

Companies with holdings in China’s NFT sector, such as JD.com, Tencent Holdings, Baidu, and the digital payment platform Ant Group, a subsidiary of Alibaba Group, have all signed a “self-disciplinary initiative” document.

The China Cultural Industry Association released the document mentioned above on June 30, and although companies do not have to follow it, the document still encourages companies to “require real-name authentication from those who issue, sell and purchase” NFTs and “supports only legal tender as denomination and settlement currency. ”

The author is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximist. Twitter: @bhardwajshash