Blockchain: An Effective Solution to the Gamers’ Pain Point
- Lack of ownership has long been a major pain point in gaming
- Web3 games will bring gamers ownership of both assets and governance
- On the blockchain, in-game assets and social participation can be turned into tangible rewards
- Blockchain gaming with on-chain tokens helps realize gamers’ ownership in terms of governance and transparency
Booming Gaming Industry
Driven by mobile gaming adoption and the desire for social experiences, the global gaming industry has witnessed rapid value growth in recent years, especially under the influence of the COVID-19 pandemic. According to an industry report by Accenture, the total value of the gaming industry exceeded $300 billion in 2021, with 500 million new and more diverse gamers joining the loop, driving the total number of global gamers to 2.7 billion.
Pain Point to be Solved
While the Web2-based gaming industry continues to expand and satisfy more gamers’ needs for entertainment and social interactions, an innate concern has also arisen and become the major pain point for vast gamers, which is the lack of ownership of either the in-game assets or the game itself.
Indeed, the traditional online games are typically controlled by codes of the developer and a centralized server, and the gamers are governed by the rules set by the game developer. Such an overly centralized model makes it difficult for gamers to have a say in the game governance and development direction, while a game shutdown or malicious attacks may cause the gamers to lose everything they own in the game.
Blockchain as the Solution
Luckily, we’re given a chance for a big turnaround. Web3 games, supported by blockchain technology, will likely bring the gamers what they’ve been longing for: the ownership of both assets and governance.
- High Security
Blockchain technology is featured by immutability, decentralization, and transparency.
With games running on the blockchain, all game rules and game-generated assets along with their transaction records are safely stored in a publicly viewable ledger, free from tampering and central authority.
Gamers are thus prohibited from cheating, which assures a healthy balance in the game economy, while on the other hand, they are allowed to completely own and anonymously exchange their assets. While Web2 gamers face prevalent scams when privately trading rare game assets for money, on-chain asset trade for Web3 gamers, thanks to the NFT marketplaces and the simple integration required for them to show assets, is much safer.
- Unique Value
Blockchain games also bring asset ownership to a new level by turning gamers’ in-game assets and social participation into tangible rewards through the Play-to-Earn (P2E) gaming model, where gamers are rewarded with tokens for their time and effort put into a game and contribution to its ecosystem.
NFTs, as the most commonly seen form of in-game assets, can be utilized directly in the gameplay, sold in open marketplaces, and exchanged for goods, other crypto tokens, and even fiat currency.
The blockchain integration of assets as such enables in-game assets to have proper value and out-game circulation. This, in turn, enhances the asset value, increases the chance of exposure and user interaction with assets, and increases the application or usage scenarios of NFTs and the liquidity of assets.
Cryptocurrency, or token, is a natural and fundamental element of blockchain that perfectly syncs with the coin economy of traditional gaming. Blockchain gaming with on-chain tokens is just a match made in heaven that greatly helps realize gamers’ ownership in terms of governance.
- New Roles, More Power
Web2 gamers are usually in a vulnerable position in the face of game developers that grab the power to decide a game’s fate and feature upgrades solely in their grips. When it comes to undesirable gaming updates, such as a higher finance threshold for game items, choices left for the gamers may only be either take it all or leave the game.
Unlike the traditional gamers who are only consumers of the game projects, blockchain gamers are endowed with new roles by the on-chain game tokens they own. For gamers, holding the tokens of a blockchain game is pretty much like holding the game’s concrete value as its investors or stakeholders, thus gaining the power to influence the value or even the fate of the game.
Blockchain game developers will, therefore, always have to value the rights and feedback of their users in case the game project collapses because of updates or mechanisms going against gamers’ collective rights or preferences. Thus, it would be fair to say that blockchain gamers natively have greater power of governance compared to their Web2 counterparts.
Practitioner of Blockchain Gaming
Founded by experts formerly working in top gaming companies like Ubisoft and leading globally renowned gaming projects such as Assassin’s Creed and Prince of Persia, MixMarvel firmly holds a mission to realize the mass adoption of blockchain games and ultimately create a real metaverse for the masses. Through in-depth exploration in building the Metaverse, MixMarvel has gradually established a blockchain content incubation platform and creators community integrating asset distribution, content publication, DeFi tools, infrastructure, and community co-creation.
So far, MixMarvel has successfully launched several benchmark projects in the blockchain game industry, including HyperDragons, HyperSnakes, and DeHero. MixMarvel also strives to provide the most comprehensive support for developers by incubating and cooperating with the blockchain infrastructure Rangers Protocol and jointly offering investment and incubation consultancy with MixMarvel DAO Venture.
Next, MixMarvel will continue developing blockchain integration of games by releasing platform products to bring more high-quality blockchain games into the market and launch an application capable of overthrowing worldwide attention.
MixMarvel is the world’s leading blockchain content-incubation platform and creators community. By in-depth exploring the open world and integrating world-renowned IP with high-quality content, MixMarvel connects investors and mass users through asset distribution, content publication, DeFi tools, infrastructure, community co-creation, and other diversified scenarios in a new ecosystem of dapps. Its ecosystem comprises a broad portfolio of FT/NFT assets, including the MIX, RPG, and HEROES tokens; blockchain content including the GameFi application DeHero; and infrastructures including Rangers Protocol and MixMarvel SDK. For more information, visit https://linktr.ee/MIXMARVEL.