Avalanche Foundation Mints $500k Worth of BEAM Node Tokens to Support the Future of On-Chain Gaming

The Avalanche Foundation is looking to support the future of on-chain gaming by committing to mint $500k worth of Beam Node tokens and running validator nodes for the gaming network.

The Avalanche Foundation has announced its support for the Beam Network by committing to mint $500k worth of Beam Node Tokens and running validator nodes for the gaming network.

This collaboration marks a significant step in the advancement of blockchain gaming, as the Beam Network is the largest project building on one of the most popular gaming platforms.

Together, Avalanche and Beam have worked closely on key areas such as infrastructure, marketing, deal-flows, and events, ensuring the smooth operation of the gaming subnet since its launch.

Avalanche tech continues to be optimized for game developers, and both ecosystems have supported each other in this domain.

Through recommendations from the Avalanche Foundation, several studios have opted to launch their games on the gaming-tailored network rather than building their own.

Both foundations have also collaborated closely on major gaming events, with the Avalanche Foundation showcasing games at GDC in San Francisco and the Beam Foundation hosting the team at its own event during Gamescom in Cologne.

As the partnership deepens, both foundations are working together to drive the future of blockchain gaming.

Avalanche is supporting the Beam Network in two key ways.

Firstly, the foundation will be minting $500k worth of Beam Node Tokens.

Secondly, they will be running a couple of validator nodes once the Horizon upgrade is complete, as per the official Medium announcement.

Both initiatives contribute to the decentralization of the layer 1 network, providing crucial infrastructure for the chain’s stability, security, and speed, which are essential for a smooth and user-friendly blockchain gaming experience.

The Horizon upgrade is possible thanks to the launch of the Etna upgrade on mainnet, which was enabled by the Avalanche community approving the ACP-77 proposal for permissionless validation and delegation of the ever-expanding chain.

With the Etna upgrade, the Beam Network and all subnets are gaining more freedom and flexibility, allowing them to transform into their own layer 1 blockchain and decide on the consensus mechanism they want to use for it.

This led to the plans for the Horizon upgrade, which will enable the creation of a permissionless proof-of-stake consensus mechanism when it is completed.

Anyone who meets certain requirements will be able to validate and secure the network using Beam Nodes, which were also introduced this December.

These nodes allow anyone to validate and secure the network, potentially earning rewards in the process.

The rewards are generated from transaction gas fees, validator incentive grants, and protocol fees.

To run or delegate a Beam Node, you will need to stake at least 1 ERC-721 Node Token and 20,000 $BEAM.

Each node has a staking limit of 1,000 Node Tokens and 50 million $BEAM.

Check out the official documentation to learn how to mint a Node Token and how to run a validator node once the Horizon upgrade is complete, which could be any time now and potentially before the end of January 2025 or Q1 2025.

This month has been packed with exciting developments for the Avalanche ecosystem and the Beam Network.

This news follows the launch of the first gaming-focused investor fund in Abu Dhabi, Beam Ventures, which will be looking to deploy $150 million to support the capital in becoming a global leader in the gaming industry.

Outside of Beam, we recently saw the popular anime series Solo Leveling land on Avalanche with a gamified collectibles platform, bringing fans into the world of Web3 in a browser-based experience that anyone can easily jump into without any prior knowledge of blockchain tech.

Avalanche was also one of the top ecosystems nominated for the PlayToEarn Blockchain Game Awards 2024 – check out the nominees’ top 5 play-to-earn games for more Web3 fun!