Blockchain is the go to buzz word in the industry. The kicker is that, it is not restricted to the FinTech market. Blockchain raises above and beyond all norms of technology and can be applicable at any place. Whether it is Education, Healthcare, Tourism or even creating a Digital Identity for the many refugees across the globe, Blockchain technology has come to aid every time.
A New Horizon:
While we sit and wonder at the amazing options where Blockchain can be used, there is one field which is opening doors to an entire industry. Blockchain is being implemented in the Gaming sectors by some innovative entrepreneurs.
With the rise and rise of the Gaming industry in the last 2 decades, digital gaming now accounts for approx. 87% of the industries $108.9 million annual revenue.
Gamers consist of the initial users of the Bitcoin and the other cryptocurrencies. This prompted ‘Valve’ (Valve is a video game developer and digital distribution company) to accept bitcoin payments on ‘Stream’ (a digital distribution platform developed by Valve) early last year.
It was the shift from console to digital that gave global gamers complete access to an entire world of free online games. Gamers owned digital goods increases transparency of trades in platforms like E-sports.
A few more examples of which are:
1. First Blood:
With the aim of building a decentralized E-Sports reward platform, First Blood brings together gamers from around the world that play and challenge each other. With the help of Smart Contracts, details of each game played are stored onto blocks. It is the future of competitive Gaming.
2. FreeMyVunk Movement (the ReVUNKolution):
First off, Vunk means Virtual Junk. This site is dedicated to help empower people so that they can fight for ownership rights over their virtual property or Vunk. It helps build tools or plugins that allow video game developers to easily deploy their in-game virtual assets on the blockchain. If only this technology existed in the real world, I have enough junk to upload from my trunk.
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The GameFlip platform claims to have the necessary knowledge, connection and required infrastructure to bring together and unite the gaming industry with the help of a decentralized peer-to-peer platform. Here gamers can buy, sell, trade, and reward which they have worked hard to earn. On the verge of launching their own ICO, GameFlip aims to develop its ecosystem and company collaborations.
The Final Frontier:
The launch of blockchain technology opens the doors for gamers to explore multiple platforms and games. Erasing the possibilities of loss of commerce for gamer’s virtual goods, items, assets and in game privileges is only the beginning. The portability of gamer assets on to blockchain shall further expand the Gaming industry. These assets are earned with hard work and deserved to have their values vindicated. To those about to game, we salute you!