85% of Individuals in The Gaming Industry Are Interested in Blockchain, Cocos-BCX Firstly Collects And Shares Data

According to the “2018 Blockchain Industry WhitePaper” released in cooperation by ChinaJoy, Cocos-BCX, DappReview and INBBlockchain, the gaming sector has maintained growth as a nascent industry over the past 20 years. There are 580 million gamers in the current game field, among which 550 million are on mobiles, 260 million on the web and 160 million on gaming platforms. The total market has reached ¥ 250 billion, including ¥ 116.1 billion for mobile games, ¥ 64.9 billion for platoform games and ¥ 15.6 billion for web-based games, markets excluding China’s are valued at about ¥ 50 billion.

In addition to traffic consolidation (In 2017, two major oligopolistic markets accounting for 76.2% of the market share, are taking possession of 95.8% in the increasing markets) and other problems including unclear policies, the gaming industry are also faced with other competing markets such as the emergence of short video entertainment, etc. all competing for users’ attention. To overcome this issue, small and medium sized game makers have to acquire customer with high expenses, and may be forced to accept the reality of being merged or acquired by giants as content providers, or even be shut down.

The emerging of blockchain is a turning point for this process. Thanks to its inherent financial feature, most blockchain based products’ users are individual with high-expenses, which offers mining ability for game ARPU. Moreover, blockchain games are in the process of forming an industry ecosystem as the development of blockchain is still in the early stage. Compared with traditional gaming market, blockchain gaming is more favorable and fair. For example, in 2018 during the period from August 10th to October 30th, 123 EOS-based dApps were launched, with a total turnover of about ¥ 8.2 billion.

To understand and better promote the development of the blockchain gaming industry, Cocos-BCX conducted a sample survey to attendees at Cocos Engine China Tours. At present, Cocos engine has attracted 1.3 million game developers including users from 203 countries and regions, covering 800 million players worldwide. The survey shows that 85% of individuals in gaming industry are interested in blockchain games, but 34% have no idea about profit making, while 22% don’t know how to enter the sector.

01 Most attendees were programmers, a high percentage amongst them were game developers

Based on the data analysis of Cocos Engine China Tours, by industry categorization, most participants were from game developing firms, which accounted for 45% of the participants, while the second largest group were individual game developers, accounting for 24%. If categorized by occupation, accounting for 55% were programmers, while the second largest group were businessmen, occupying 18%.

Figure 1: Industry distribution of the attendees
Figure 2: Occupation distribution of the attendees

As for purpose of participating in the Cocos workshop, 44% attendees chose the option of “To learn about technical innovations and progress”, 23% chose “To be updated with industry trend, and to see if there’s any better development”, while the attendees who chose “To acquaint with some partners”, and “To communicate with Cocos team” each accounts for 18% and 9% respectively.

Figure 3: Purpose distribution of the attendees

02 61% individuals in gaming industry believe that blockchain means cryptocurrencies

It’s found in the survey that the attendees are not optimistic about blockchain. 61% of people think that blockchain is cryptocurrency. 25% attendees said they don’t know about blockchain and thought it’s far away from them. Only 14% chose the option of “Know well about blockchain”.

Figure 4: Display of attendees’ awareness to blockchain technology

The degree of attendees’ understanding blockchain-based games is also not optimistic. Only 8% of people have played blockchain games such as CryptoKittes, while 7% chose the option of “Have no interest at all” but persist on traditional game development.

Figure 5: Display of attendees’ awareness to blockchain based-games

For the question on what changes blockchain based games can bring, 33% of the attendees chose the option of new profit opportunities, 17% think that blockchain gaming is a new type of game, and 11% believe that blockchain is the welfare for small and medium sized developers.

Figure 6: Display of attendees’ awareness to the function of blockchain based-games

03 34% of individuals in gaming industry have no idea about profit making

In the eyes of the attendees, making profit by blockchain games is confusing. No clear business model (34%) is the biggest obstacle that stops them form entering the industry. The option of “I don’t know how to join the industry” ranks second, accounting for 22%.

Figure 7: Display of the attendees’ concerns about the development of blockchain based games

In the survey, some attendees wrote “I don’t understand much about blockchain, but if there’s some prospects presentation or profit making models introduction regarding blockchain games, why not give it a try”.

The four phases of blockchain gaming are described in Cocos-BCX whitepaper, they are: 1) Fungible token as a settlement measure of in-game economy, 2) Exchange and inter-conversion of game currencies and assets, 3) Key game algorithms on blockchains and 4) The whole games on blockchains. Committed to facilitating the development of blockchain based game, what Cocos-BCX provides is not only its public chain, but also a game engine and the matching development tools.

This coincides with the changes the attendees expect from Cocos-BCX. For the question on “What information do you want from Cocos-BCX most?”, 29% of people chose the option of “How to develop blockchain games with Cocos-BCX”, and 26% chose “How to make profit through blockchain”.

Figure 8: Display of information category the attendees want most from Cocos-BCX

In August 2018, Cocos-BCX introduced BCX-NHAS-1808 Standard (hereinafter referred to as NHAS-1808 Standard). Besides supporting extendable digital asset, NHAS-1808 Standard also supports asset transfer across multiple games without breaking game balance. NHAS-1808 Standard separates the storage of contract data from asset data, returning the digital assets to the hands of the players, which lays the foundation for new revenue models. New circulation models such as asset mortgage, leasing and pawn will be enabled in the latest version of NHAS-1808 Standard.

Take the process of achieving an asset mortgage logic as an example. The developer defines the functions of each process for the mortgage business, once the mortgage behavior takes place, the contract functions will realize the business processes such as mortgage payment and ownership change through changes of combined ownerships and general transaction operations. The contract functions utilizes the blockchain’s timed task mechanism to define the behavior of taking back the use right when due, or transferring back the ownership for redemption in the due time.

For example, the operator of a war game could rent the spaces for weapon forging and repairing to the players, whom can operate the game and even hire other gamers, and the operator will take a portion from the profits. The players also can mutually rent out their equipments. As the profits belong to the players, they will naturally operate the space in better ways, or even actively publicize the games, which is in fact a process of growing traffic of the game.

“The NHAS-1808 Standard offers new profit models for me” A game product manager said during the Wuhan workshop of 2018 Cocos China Tour “If item A has flame-strengthening feature in game A, ice-strengthening in game B, and lightning-strengthening in game D, the item will be very valuable”.

As mentioned above, the door of opportunities blockchain gaming industry offers are still open, for potential companies or developers that are interested in entering this field, the best choice would be to work with projects presented by Cocos-BCX since they provide solutions including game engine, development tool which are visual, script-based, and data-oriented, as well as blockchain systems that supports high performance application to boost the development of blockchain gaming.

Thank you for attention!

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A DAO for future Metaverse with decentralization technology and MetaFi. NFT, GameFi, IGO and more. Website: cocosbcx.io