Gaming Industry and Blockchain after Chinajoy
ChinaJoy became the leading exhibition in gaming industry together with the strong growth of China game industry and also proper management of the event.
This year, a blockchain event was attached to ChinaJoy. Indeed, we see blockchain in any industry event so it’s rational to expect one at China. But, it was impressive to see some blockchain companies attending the ChinaJoy B2B area with their booths. That shows me that, these companies are already developed their products, passed the idea stage and active on the field to apple their products in real life. MenaPay booth was full with Chinese developers who wants to monetize better in Middle East region. Mobile and desktop payment applications, Islamic compliant structure and stable coin provides lots of opportunity to the game companies for easy and quick entry to the region. Elasnos was an other project focusing on ownership exchange of personal data.
Gaming industry has always been innovative in using the new technology. It’s the leading industry in terms of using variety of payment methods, social media platforms and instant messengers.
Now, blockchain may also open new doors in the industry. One of the biggest discussion is to carry the game currency on blockchain but people miss one point. Game currency is a consumable item which is used for entertainment purposes. On the other hand, game item trading is a major fact of game industry. There may be lots of good uses of blockchain especially in trading of in-game items.
In my personal opinion, there will be a great use of smart contracts within the games in the future. Most of the games use “lucky box” (gacha box) in their item shops. These boxes have certain rate of success for the best items. Even though, game companies openly declare the algorithm of the boxes, people may not trust the declaration and it’s really hard to validate. If all that system is carried on a blockchain, smart contract will distribute the items as designed on the white paper of the game. I assume, we’ll see that type of games in the next 2 years and build a stronger relationship between developers and gamers.
