Opinion: Why the future of the gaming industry is in cryptocurrencies and blockchain (Topic)

World Of Topics » Games » Opinion: Why the future of the gaming industry is in cryptocurrencies and blockchain

Opinion: Why the future of the gaming industry is in cryptocurrencies and blockchain


The peak in popularity of cryptocurrencies in 2017 marked the beginning of a war between gamers and miners. When cryptocurrency miners spent their fortune on the massive purchase of video cards to create mining farms, the gaming community was in a state of shock, watching how miners provoked an astronomical rise in prices for computer components. I admit that, for objective reasons, mining caused discontent among gamers, but at the same time I am confident that the future of the gaming industry lies in blockchain technologies and cryptocurrencies, from which both gamers and game developers will benefit.

To prove the importance of the synthesis between digital money developers and the gaming industry, here are 4 theses.

Cryptocurrency as a game coin

Fans of modern games are very familiar with microtransactions and various kinds of game currencies that are used to purchase large-scale DLC, resources for crafting game items or even colorful hats in Team Fortress 2. Today's realities in the gaming industry and the ability to pay for additional content can not to suit everyone, but in any case there is no reason to doubt that the integration of cryptocurrencies into the gaming economy will be met by all participants in the gaming industry.

The first to feel the benefits of such an alliance are game developers and mainly those who create Free to Play projects. Such games only exist thanks to microtransactions and it is common practice for gamers to buy in-game items from third-party markets, completely destroying the game economy and depriving the game creators of the funds even to maintain servers. The introduction of cryptocurrency and blockchain technologies into the gaming space will be able to make transactions between users and developers transparent and not bring the economy to the outside world.

Opinion: Why the future of the gaming industry is in cryptocurrencies and blockchain

The importance of such interaction is understood by creators of cryptocurrencies like Ripple and Tron, who are investing hundreds of millions of dollars in developing platforms to support game developers who agree to supplement the gaming economy with electronic money. The game developers themselves are not against the union. For example, Steam, which has issued its own token, with which gamers can both buy or sell in-game items, and convert the earned coins into real money on exchanges.

You can read more about what cryptocurrencies are used in the gaming industry in our separate article.

This is where we come to one of the main advantages of cryptocurrencies for gamers - the ability to get game content without having to spend their own finances. For a better example, we can recall the Ukrainian blockchain startup DMarket, which allows you to convert the time spent on game projects into in-game currency and subsequently buy game items. Unless the number of games supported by a startup is limited to 3 titles: CS GO, DOTA 2 and DHerous. In addition, there are other similar services that completely neutralize the need for gamers to understand the basics of the blockchain and build a mining farm. All you need is to register on the service, mine cryptocurrency using your own computer and convert them into tokens for the same World of Tanks.


Creation and protection of unique game content

The ability to store data in a blockchain system opens up another advantage for developers - to effectively combat pirated content. Intellectual property infringement takes a heavy toll on game producers, and last year Sony patented a new version of blockchain DRM protection capable of tracking and removing pirated copies of content. Other world-renowned companies such as Microsoft and Intel are making progress in this direction.

Of course, the fight against pirated content may not appeal to a number of gamers. But on the other hand, probably, many will agree that the creators of quality games fully deserve reward for their own efforts. In addition, the integration of promising blockchain technologies will be useful for protecting user data. Today, all information such as logins, passwords and games is stored on companies' servers, and they are not immune to hacking by hackers.

What is it worth only in 2011, when cybercriminals compromised Sony's servers, when the confidential information of 77 million PSN account holders fell into the hands of cybercriminals. As a solution to the problem - storing user data on decentralized blockchain systems.

Horizon Zero Dawn

Esports Betting

The gaming industry is moving around the world at a Stakhanovian pace and captures various sectors of the human industry, of which sports is the most obvious. In many advanced countries, there are no preconceptions about games as a sports discipline. As an example, we can recall cyberspace schools in China, the USA or even USA, as well as prize funds, which are calculated in amounts with eight zeros. Of course, for ordinary gamers watching eSports competitions is not only amusing entertainment, but also an opportunity to put money on your favorite team and hit the jackpot.

In this case, cryptocurrencies and blockchain technologies will again come in handy, which can stimulate the growth of the popularity of cyber bets. First of all, due to the specifics of the blockchain, it offers completely "open" transactions between players and bookmakers. Blockchain is a public chain, so it is possible to almost completely neutralize the risks that players face today and then remove unscrupulous bookmakers from the market.

Game Development

And most importantly - new blockchain-powered games. In any case, the gamer will benefit if the gaming industry is replenished with new ambitious projects, and today there are several interesting games that use cryptocurrency as an economic basis. The most popular example is the cutest Tamogochi CryptoKitties in the world. The game caused a real sensation in the crypto community, because it offered the opportunity to raise cats, but what could be better? In addition, the cats were not just a character, but a full-fledged player's asset and could be sold at an auction for the Ethereum cryptocurrency. The success of CryptoKitties has spawned dozens of copycats like CryptoCelebrities and CryptoPets, but we're interested in bigger games, right?

Opinion: Why the future of the gaming industry is in cryptocurrencies and blockchain

Then you can remember the ambitious game Decentraland, representing a new generation of Minecraft in VR. In the universe of the game, developers are not limited to cubic style and are free to create absolutely any objects. A whole world, including dragons and futuristic cities with a functioning economy and infrastructure, where there are even shops running on a gaming economy. The only distinction is imagination and the amount of ETH cryptocurrency, for which you can buy plots of land in the virtual world. As expected, the entire gaming economy is decentralized and content creators will be able to sell their own creations for cryptocurrency.

Opinion: Why the future of the gaming industry is in cryptocurrencies and blockchain

It should be said about another ambitious project - a blockchain platform from XAYA, which offers users to create their own games on the blockchain, supporting all programming languages that are convenient for developers. But the project has not yet found a loud response from the gaming community and burst out with only a few mediocre games from independent developers. However, thanks to the decentralized blockchain system, the platform's potential is obvious for indie developers, so we will not rule out that XAYA may eventually become the "home" for a number of really exciting games.

Today you can hear almost every day news about the collapse of cryptocurrencies and comparisons of electronic money with a “soap bubble” that is about to burst (not now, then tomorrow) and leave all industry participants with colossal losses. On the other hand, we see how the largest companies are already integrating cryptocurrencies and blockchain technologies into business systems. Therefore, fears about the collapse of the world of cryptocurrencies are extremely exaggerated and in the future we can count on even more successful cooperation of the gaming industry with blockchain technologies.

The Topic of Article: Opinion: Why the future of the gaming industry is in cryptocurrencies and blockchain.
Author: Jake Pinkman