If You’re A Game Developer, You’re Going To Love This Blockchain Platform
Over the past decade, “gaming” has gone from a nerdy hobby to a mainstream competitor to big-name entertainment.
According to Google, “More than 20 of the top 100 YouTube channels with the most subscribers worldwide are gaming related.” Gaming has created Internet famous vloggers and streamers. Gaming has turned into arena-style competitions with crowds rivaling professional sporting events. Gaming has gone from being that thing you did in your basement with your friends after school, to becoming one of the fastest-growing industries in the world. According to VentureBeat, “The global game market will hit $116 billion in revenues on, up from 10.7% from a year earlier (2016).”
As if the growth rate couldn’t get any steeper, cryptocurrencies and the blockchain are beginning to make their move on the gaming industry. And one of the first obstacles to overcome is how to make it easier for game developers to bring their concepts to market.
The truth is, game developers struggle to get their games into the hands of willing gamers. At least half of that is a marketing challenge, but the other half is the simple fact that purchasing independent games, or completing in-app purchases across varying platforms isn’t easy. There’s no “universal platform.” Credit cards aren’t always accepted. And no matter which payment method you use, you’re still dealing with a centralized banking system.
In fact, Southeast Asia, the fastest growing games market in the world, is not an easy market to break into. If you’re a US games developer or publisher, it can be an onerous task due to a multitude of factors. The credit card penetration is estimated at less than 3% in this market, therefore major money is left on the table by app stores run by Google, Apple, etc.
One example of how game development is being disrupted by blockchain technology is with Cloud Moolah. This blockchain platform recently partnered with Unity — one of the leading game engines in the world and responsible for hits like Hearthstone, Pokemon Go, Angry Birds 2, and more — to launch what they’re calling “the Moo Store.” This blockchain-based platform will allow users to purchase games and in-game rewards with cryptocurrencies, removing the barrier to entry for game developers looking to reach international audiences.
But this partnership extends far beyond just Unity. Cloud Moolah has also secured partners with True Digital Plus, one of Thailand’s largest game publishers and payment aggregators; VTC Online, the largest multimedia corporation in Vietnam; and UniPin, one of Indonesia’s fastest-growing game payment platforms, among others. These are prominent names in the game publishing world, and show the industry’s rampant interest in continuing to evolve with tomorrow’s innovations — cryptocurrencies and the blockchain.
What makes this such a pivotal step forward for game developers all over the world is the fact that gaming itself has never been bound by location. Part of what makes gaming such a unique experience is the fact that games cross cultures, languages, and most especially, currencies. To remove that significant barrier to entry is to make gaming even more of a shared interest. It’s a sign that the goal of global connectivity, and trusted peer-to-peer transactions, is no longer a “pipe dream.” It’s going to become our reality.
Gamers have always been early adopters. The gaming industry was one of the first to create “influencers” on the Internet. Gamers quickly made use of social platforms back before having a social media following was considered “cool.” Gamers, and the games they play, have always been a driving catalyst behind hardware and software evolution. The fact that they are beginning to adopt blockchain-based platforms and cryptocurrencies is another clear sign of where the industry is headed.
Soon, game developers will be able to reach new audiences that were otherwise impossible. And gamers will be able to access games, platforms, and interact with one another in ways we all knew were imaginable — except now we have the technology to do so.
Disclosure:
The author has had a working or personal relationship with one or more companies mentioned in this article in the past. Access to mentioned company’s management and information was made through the author’s personal network. All information was vetted prior to posting.
Disclaimer:
This essay is not intended to be a source of investment, financial, technical, tax, or legal advice. All of this content is for informational purposes only.
