3 reasons the video game industry is bound for the blockchain
Well, one way of looking at it is that just about everything is bound for the blockchain. The technology is so disruptive (in a good way) that industries world-wide are about to be upended and changed forever, from HR to teaching and trade finance to gaming. So, how is blockchain going to change the gaming industry? What can we expect to see in the coming years?
The real benefit of any new technology is that it creates new solutions to old problems. It’s no different for blockchain and gaming. The gaming industry is booming and technological improvements to the gaming experience are developing rapidly, creating better-looking, more engaging gameplay. But blockchain looks poised to change the gaming industry in a different way.
Good graphics get all the attention, but, like part of the production crew behind a theater performance, blockchain can gaming from behind the scenes. The average person may not even realize that blockchain is the foundation of the products they are using, but blockchain will make games more accessible, more lucrative and more engaging. Here are three things blockchain will change in gaming that makes its introduction inevitable:
1. Accessibility
Success in the gaming industry has resulted in a mass amount of gaming titles inundating the market. Each tries to be playable for as long as possible and the best produce multiple sequels to create epic stories that often span across history (lookin’ at you Assassin’s Creed). With each game grabbing more and more of your attention and time, even as more and more exciting games come out, it’s impossible to experience them all.
It’s also hard to sift through all the content on the market and find the next game that will really pull you in and give you a good experience. Blockchain could help alleviate this issue, with the creation of a distributed ledger system or itemized database like Netflix or IMDB. Algorithms can be applied to learn your preferences and suggest new titles while giving more credit to developers and studios behind the games.
An algorithm could also run across that blockchain to allow for “backwards compatibility” with DLC across gaming systems. This would make content accessible and therefore playable for longer and by new audiences.
2. Player motivation
The very activity of gaming can be rewarded using the blockchain. A project like BUFF can distribute crypto tokens based on time-played and achievements earned, motivating players to keep earning. These tokens become a part of a brand new, cross-platform ecosystem of virtual goods that create an entirely new revenue stream for producers.
3. Security
As gaming gets on the big data bandwagon, concerns are on the rise over privacy, data usage, and violations. It was just recently that Red Shell was removed from the software of several big gaming titles due to public outcry over privacy concerns. But, to remain competitive, gaming companies will still need to utilize certain data points and try to use it for targeted advertising and the like. The blockchain is the solution.
By storing users’ information on the blockchain, it remains safe, unhackable and belongs to them. That’s a huge step up from the way things are run now. As we can see, blockchain is a huge step up in every direction.
