blockchain is upsetting online games

It is often said that blockchain technology could one day revolutionize a number of industries – from global payments, to energy and even to the electoral process. However, one sector in particular that is somewhat underestimated is the gaming space.

Blockchain is the technology that supports cryptocurrencies like Bitcoin. It is basically a giant accounting register that records every single transaction processed by the system and is extremely secure. Furthermore, blockchain does not require third parties to verify transactions, as this role is left to a group of online volunteers known as "miners".

So, how do you link this to the growing world of games, a sector that generated $ 108.4 billion in 2017?

encouraging

The incentive within the game is a crucial point for many important titles. For example, FIFA Ultimate Team players, an extremely popular mode within the FIFA soccer range, have the ability to earn FUT coins while navigating through the game. However, in addition to allowing the player to purchase additional player packages, these FUT coins have no use outside of the game.

Blockchain uses a digital token system that, once quoted on a third-party exchange, allows users to exchange them with other cryptocurrencies like Bitcoin or even real money. As a result, the future of the competitive game built in collaboration with blockchain could reward successful players with internal cryptocurrencies that have value in the real world.

An example of this is the Huntercoin project. The blockchain-based world of games allows players to earn their native HUC currency by competing with other players.

Real estate of the prizes

Similar to FUT coins, game skins are an extremely popular way for players to earn in-game prizes. Essentially, skins are a customizable reward that allows players to change the appearance of a particular gameplay, such as a character, a vehicle or a weapon. This is a surprisingly lucrative industry, for example, at the start of 2018 a Counter-Strike player: Global Offensive (CS: GO) sold a skinsuit for $ 61,000!

However, some may argue that these game prizes are opacally controlled by those who own the title. Since blockchain does not require third parties to facilitate the transfer of digital resources, players would be free to exchange game skins on a peer-to-peer basis, gaining full control over the skins they earned.

Removal of the black market

At the beginning of this year, an interesting report emerged concerning a Fortnite player who banned his account from the developer. The announcement focused on the player's attempt to sell his game account, which contained a series of skins, accessories and other in-play prizes. Since many securities do not offer the ability to buy or sell consolidated accounts, players often have to turn to the unregulated black market, where, as there are no security mechanisms, they face the risk of being cheated.

In contrast, the blockchain provides a transparent guarantee deposit system that enables the transfer of digital assets without the need for an intermediary to validate the transaction. As a result, game developers can use blockchain technology in their network, creating a safe, secure and free market for buying and selling accounts, rewards and skins.

Transfer of awards on several titles

Players who prefer to instantly get addictive game components rather than trying to earn them through the successful game sometimes have the option of buying them directly from the developer. However, such a skill that this model presents is that players do not have the ability to transfer these items to additional titles. For example, a recent study found that 62% of participants believe that in-game purchases would have a better value if they were able to use them in more games.

Using the blockchain, players would be able to transfer digital objects easily, without having to go through a third party. Ultimately, this could work for the gamer and game developer, to the extent that it could encourage increased spending.

Bets on the real world

Competitive games, otherwise called eSports, are currently recording exponential growth. In fact, total eSports revenues are expected to exceed $ 900 million by the end of this year, a considerable increase compared to $ 493 million in 2016. Player-to-player competitiveness in the gaming industry it has never been stronger.

An organization that has recognized this request is Unikoin Gold – a blockchain-based platform that allows players to play on the outcome of the games. Unlike previous attempts to facilitate this market, Unikoin Gold has not only partnered with leading titles such as Dota 2 and League of Legends, but has also acquired a full gaming license from Isle and Man.

Streaming online players

A new market for video game enthusiasts is that of online streaming. Players upload live recordings of their game activities, along with audio comments in progress, to popular third-party platforms such as YouTube or Twitch. However, the current state of the game sees vlogger users losing an unjust percentage of their earnings on the platform hosting their video. In addition, those who are lucky enough to receive revenue for their game streams are often required to have a significant following that is more than five figures, something that many players can not reach.

AQER is a company that seeks to put control back into the hands of the gaming vlogger. The platform aims to provide a fairer and more transparent profit system based on blockchain. The project's CEO – Phillippe Perotti, stated that:

"The mediation in the vlogging or streaming industry is hurt in many ways: the price, for example, is neither fair nor transparent: the streamer and the vlogger do not know how to evaluate their content and the brands take advantage of it. transparency among vloggers gives brands a lot of influence on them ".

Blockchain could help mitigate these problems and offer players opportunities to get their payment right without being exploited.

It is safe to assume that the game is here to stay, and with it many new jobs and opportunities are coming, both in the construction of games and in being professional players. It is also possible that in the coming years gaming tournaments will become mainstream like any other sporting event, with many important game events already held and seen by millions online. Blockchain is already destroying the industry in many ways and will be the door that will open the gaming industry to new opportunities, but exactly what the future of this promising combination seems only time will tell.