Revamping A Multi-Billion Dollar Industry.
By Kevin Sequeira on ALTCOIN MAGAZINE
Blockchain is the buzz everywhere now, inevitably it has entered the gaming industry. It’s not only changing the relationship between games & gamers but the entire fundamentals of the industry.
“Gamers will be the first mass adopters of crypto”
We gamers have been dealing with the concept of in-game currency since the early 2000s.
Games with mass user base like Clash of Clans, Candy Crush Saga, Farmville, etc. have collectively introduced about 500 Million users to this concept!
Since crypto is not restricted to any platform or game and can be used anywhere. It’s apt for gamers and developers to move to crypto.
How does it change anything? They are all just virtual coins!!
Tokens
Tron(TRX), Ethereum(ETH), EnjinCoin(ENJ) are the most used in the
block-chain gaming scene right now, other players like Abyss are not far behind.
These tokens(due to high liquidity) can be traded in exchanges or sold for any form of fiat currency.
**Some block-chain games still have an in-game currency, this is done to add a layer in between, which helps in user retention.
Assets
Types Of Assets.
Fungible: In-game currencies, virtual goods, mineable resources, and recurring assets
Non Fungible: Bespoke equipment, Unique Traits, One of a kind elements.
Non-Tradable: Time-bound or Player bound assets.
(e.g)You are a pro at PUBG, so buying the season pass is an amazing deal for you. The pass will remain as a stagnant asset and will expire in the allotted time.
The benefits acquired from the pass can be in either form.
Incentivizing Players.
When have you ever walked away from a game with more than just a smile on your face?How about getting rewarded for beating the boss? or Winning a round in PUBG with your team an sharing a real chicken dinner!!
**The players of League of Legends can now earn crypto for various in-game achievements such as winning battles or even completing matches! more about this here.
How would Block-chain integration affect a game?
Let’s look at one of the top titles in the gaming industry right now.
Fortnite.Battle Royale!
A free to play title, ( an excellent strategy to gain massive user base) in which players can purchase in-game currency(V bucks) to buy assets to improve their experience in the game, these purchases won’t enhance your abilities,i.e. no advantage over other players. Real skills are needed.
Suppose we integrated Tron(TRX) as a token in the game. You buy slick dance moves or the limited edition Spider-man costume for your character, You spend 2000TRX on each of these assets. These assets are now stored in your wallet as non-fungible(Unique)tokens. Since you have purchased them from the developers, You own them.
A few weeks later, Its Halloween night and you’re in the mood for some new spooky attire. Now, you can either buy your Halloween costume with some more TRX or sell your limited edition in the asset market to the highest bidder,
It is possible to earn extra 1000TRX on that limited edition costume.
Isn’t that just awesome? Imagine the next time your dad bother you for playing all day, you can just buy him beers with your gaming money.
There is so much more to come in the world of gaming with the industry on the rise. Stay tuned for more.
Why is Google getting into gaming? read more about it here.
If you still have your doubts on blockchain games? Or you want to know where I get my herbs from, Please leave a comment…
Click here to check out the best games to earn some crypto.
I will be writing more on this soon.
