Where gaming is headed and how BUFF is making it that much better
From the beginnings of the video game industry, it’s been driven by technological innovation and dedicated gamers who pay for hours of strategic challenge and engrossing, interactive entertainment. Today, games have branched out across platforms, from computers and consoles to mobile devices, while showing the potential of the medium as a tool of education, critical thinking and engaging storytelling, or even just for killing time.
This diversity has created a booming market that is only growing larger with time as AI and graphics improve and new technologies like virtual reality are introduced, heightening the immersion factor that makes gaming such a success.
With forecasts of $137.9 billion for 2018 alone, the global gaming market is set to hit $180.1 billion by 2021 — stunning, but on par for an industry that’s been growing at a similar pace since at least 2011. Studies by Statista.com reveal the major role technology has played in the industry in the past decade, with game providers stating that 76% of their customers prefer mobile devices as their gaming platform over any other as of August, 2016. Companies also reported that 62% of their loyal gamers favored traditional computers while 40% chose social and online games and 29% consoles.
According to mediakix.com, mobile games account for almost half of all global gaming revenue, far surpassing box office earnings, and over 80% of revenue from Apple’s IOS and Google Play Stores could be attributed to mobile games in 2017. The rise of mobile technology in recent years has made mobile gaming accessible to just about anyone, and 2.1 billion people worldwide are taking advantage of that technology to get joy out of gaming.
That’s a lot of change in a very short amount of time. But the gaming industry has proven to be adaptive as well as diverse, serving as a platform of potential for all the new initiatives that have been thrown at it. Now there’s another new technology creating new possibilities for the gaming industry: blockchain.
No, blockchain can’t directly improve the graphics of Call of Duty or build a better AI opponent in Sid Meier’s Civilization, but it can create new revenue streams for publishers and indirectly increase immersion for their customers.
BUFF, a new ICO, is bringing blockchain to gaming with a loyalty reward system that allows players to accumulate BUFF coins just by playing. Coins are allotted to players based on time spent in game, unlocking achievements and more, and can be spent on in-game purchases or virtual goods. BUFF tokens accumulated playing one game can be spent in another, creating an ecosystem that encourages gamers to game more without thinking about how much real money they would otherwise be spending on unlocking the next level or a new set of armor for their character.
While players accumulate tokens by gaming, publishers enjoy this new revenue stream and increased exposure for their brand to happier veteran gamers and new players who previously had misgivings about spending their money on gaming.
BUFF and blockchain are taking the latest step in enhancing the gaming experience, facilitating further growth that will no doubt be reinvested in the next new technology for gamers. It looks like a never-ending cycle of gaming improvement.
