Summary

Faraway offers top-tier web3 development tools for game studios, featuring cross-chain smart contracts and APIs. Their platform simplifies building and managing virtual economies, NFT creation, and complex transactions. Faraway chose SimpleHash to improve their NFT data management, utilizing SimpleHash's high throughput Kafka streams, saving Faraway $220K annually by avoiding in-house system costs. The ongoing partnership will lead to continued innovation in web3 development with reliable, up-to-date data solutions for dynamic virtual economies.

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Faraway - Taking Web3 Gaming to New Heights

Faraway is a leading provider of Web3 development tools for game studios and creators, offering a robust suite of cross-chain smart contracts and developer APIs. Their platform empowers users to build and manage virtual economies, create and sell NFTs, and handle complex transactions effortlessly. Faraway's tools, such as Faraway Connect for multi-chain wallet management and GameKit for integrating Web3 economies into games without deep smart contract knowledge, streamline the development process. With capabilities like embedded self-custodial wallets, dynamic NFT minting, managed gas tanks, automatic leaderboard payouts, and more, Faraway is an essential tool for game developers looking to leverage on-chain technology seamlessly and efficiently.

A number of key reasons make Faraway a leading choice in the industry:

• Comprehensive Web3 Development Kit: Faraway offers a robust suite of cross-chain smart contracts and developer tools, making it easy for game studios and creators to build and manage virtual economies without deep blockchain expertise.
  
  
• Seamless Wallet Integration: With Faraway Connect, developers can manage wallets across multiple blockchains in a single player profile, ensuring smooth and efficient in-game transactions and inventory management. In addition, players have the option to create their own Faraway multi-chain self-custodial embedded wallet in two clicks.
  
  
• Advanced Commerce Solutions: Faraway Checkout facilitates complex transactions involving multiple parties, perfect for user-generated content economies with revenue sharing among creators.
  
  
• Tailored Developer Tools: GameKit provides game studios with battle-tested, API-driven solutions for integrating Web3 functionalities, removing the need for direct smart contract management.
  
  
• Interoperable Asset Management: The Creator Storefront allows creators to upload, price, and sell interoperable assets for use across various virtual experiences, streamlining the monetization process.
  
  
• Real-time Analytics: Faraway's blockchain analytics tools enable detailed monitoring and targeting within virtual economies, helping developers optimize and understand their NFT collections and players.
  
  
• Proven Successes: Major Web3 games like Dookey Dash, Serum City, Mini Royale, Shatterline, Legends of the Mara, and more, all utilize Faraway’s platform for features like staking, crafting, dynamic NFT minting, multi-chain inventory, and automatic reward payouts, showcasing the platform's reliability and versatility.

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SimpleHash x Faraway - Real-time Data Solution Partnership

SimpleHash and Faraway have been collaborating closely to enhance Faraway's Web3 development capabilities. Faraway leverages SimpleHash's comprehensive suite of NFT data tools and services, including the SimpleHash REST API and Kafka event streams, offering extensive metadata, media, sales data, floor prices, listings, and bid information across multiple blockchain networks, including Solana, Ethereum, and Polygon.

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This integration has allowed Faraway to seamlessly manage NFT data streams that help power the virtual economy without the need for complex build-outs of blockchain interfaces.

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Faraway utilizes SimpleHash's advanced tooling to address several critical use cases. SimpleHash's API and Kafka topics enable Faraway to efficiently track and manage NFT ownership and transfers, ensuring that all transactions are accurately recorded and reflected in real-time. Additionally, Faraway benefits from SimpleHash's spam filtering capabilities, which help maintain the integrity of their NFT collections by filtering out unwanted or low-quality assets.

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Faraway and the SimpleHash Kafka service

Faraway chose SimpleHash's Kafka streams to feed its ingestion pipelines because Kafka's ability to handle real-time data access and high throughput perfectly aligns with Faraway's need for timely and efficient processing of large volumes of NFT records. The streaming platform ensures that Faraway can get up-to-the-second updates on NFT data, crucial for maintaining the dynamic aspects of their virtual economies. Additionally, Kafka's scalability supports Faraway's growing data requirements, making it an ideal solution for their extensive and high-velocity data needs.

During the integration period and into production with Kafka, SimpleHash has provided Faraway with an ultra-responsive support model, ensuring that Faraway's integration process was smooth and efficient, and that any ongoing questions were immediately addressed – with all the Enterprise SLAs and guarantees expected of a critical service provider.

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Realizing Savings:

Faraway achieved substantial cost savings of $220K annually by implementing SimpleHash’s data solutions. This financial benefit stemmed from several sources.

Firstly, Faraway avoided the substantial costs associated with building an in-house NFT data management system. Developing such a system from scratch involves significant expenses, including valuable engineering time. Additionally, the development process would have required investment in infrastructure and tools, further escalating the costs. By opting for SimpleHash’s ready-made platform, Faraway bypassed these initial development expenses entirely.

Moreover, Faraway saved on the ongoing maintenance costs required to keep an in-house system operational. Maintaining a complex data system involves regular updates, performance monitoring, bug fixes, and troubleshooting, all of which necessitate dedicated personnel and resources, along with continuous technical support and system upgrades. SimpleHash’s managed services eliminated these recurring expenses, ensuring that Faraway’s system remained current and functional without the need for in-house maintenance efforts.

Additionally, Faraway avoided significant storage and compute costs. Managing vast amounts of NFT token data requires substantial storage solutions and computing power. Implementing and maintaining the necessary infrastructure for this data would have involved continuous investment in storage hardware or cloud storage services, along with the associated compute power needed to process the data efficiently. These costs were mitigated by utilizing SimpleHash, absorbing these requirements within its existing infrastructure.

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In total, the decision to implement SimpleHash’s solutions resulted in annual savings of approximately $220K for Faraway. This figure includes the $150K saved from not needing to hire and manage a specialized development team, the $100K saved on system maintenance and operational costs, and the $20K saved on storage and compute infrastructure. These savings allowed Faraway to allocate resources more effectively, focusing on core business innovation and growth rather than on the costly and time-consuming aspects of data management.

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Moving forward, Faraway and SimpleHash plan to continue their collaboration by leveraging SimpleHash’s robust data solutions to enhance Faraway’s Web3 development capabilities. This partnership will focus on further integrating SimpleHash’s real-time data streams and comprehensive NFT data services to support Faraway's evolving needs. Both teams are committed to maintaining a seamless and efficient workflow, ensuring that Faraway can continue to innovate and optimize their virtual economies with reliable, up-to-date data.

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