Blockchain technology has been able to change the way we live, in more ways than one. The biggest companies are beginning to adopt it, while even governments are now studying how they can leverage it to become more effective. But there’s a multibillion-dollar industry that’s ripe for disruption. Gaming Industry.
The very first PC Game
Since “Pong” — the very first PC game reached our TV screens in 1975, the gaming industry has never stopped growing. From that inauspicious start, with two paddles and a pixel ball, the market has seen gamers around the world spend around $138 billion on gaming in 2018.
Traditional gaming platforms create closed loops in terms of development: no one from the outside can build a different version of it, see the core logic or use existing data (assets). In the blockchain, most of the core logic and data (assets) are governed by smart contracts, and that can be analyzed and reused.
Blockchain games are decentralized. Instead of living in a centrally controlled server, Blockchain game assets (digital goods) are distributed among ‘players’. Blockchain games either issue their own token or use an existing token (such as Ether in case of Ethereum). With well designed token economics and gameplay, blockchain games are starting a new era in the gaming industry.
True ownership, decentralized games, provably fair gameplay, acquiring crypto through gameplay (play-to-earn), global leaderboards, censorship resistance, and no infrastructure to manage for the developers, are just a few of the touted advantages of Blockchain games.
Ways to solve problems for the gaming industry
The blockchain and cryptocurrencies are the perfect innovation perfectly suited to solve the gaming industry’s problems and give players more complete and free gaming experience.
1. Making payment processing cost-effective
The gaming industry is accessible from all over the world. Though players get a chance to leverage…