It’s inspiring, how Blockchain is fast becoming a household name. Since the flagship cryptocurrency came into perspective a decade ago, the technology behind it is growing tremendously.
The gaming industry is among the initial benefactors of the growing technology. The combination of Blockchain and gaming is opening ways of interaction and for gamers to enjoy the games more. In addition to these new possibilities is a new perspective in the creation of new game concepts..
Blockchain is also enabling the ability of players to uniquely own tangible assets which are stored in wallets with secured private keys. Players will now be in control of their assets and the game in whole.
The gaming arena is full of young people with an affinity for new technologies. The space provides the right environment where the audience is willing and eager to try out new ideas that Blockchain brings to the table.
The Second Gaming Revolution
Decentraland is a new VR platform empowered by Ethereum network. Within this platform, players are able to create, experience and monetize applications and contents. The traversable and fixed 3D computer-generated space in the platform is known as LAND. The same is preserved in the Ethereum’s smart contract. Land is alienated to parcels but owned permanently by community members.
The parcels are bought using Decentraland crypto token known as MANA. The ability to do so gives users the full control over the applications and environment they create. The environments range from static 3D scenes to interactive games and applications.
Possession and dealings are authenticated on the Ethereum network. On the other hand, the content making up the Decentraland, it’s stored and distributed through the IPFS network.
Currency For Game Development
In game development, it takes quite a while before producers and developers get compensated for their hard work. It’s common for the payment process to delay. This happens despite the huge time frames in game development whilst salaries, contractors and equipment need to be paid off. In addition, if you take into account the commissions and transactional fees accompanying fiat based operations, developers usually walk away with less than deserved.
MobileGo (MGO) is a simple, faster and cost-efficient as compared to other payment methods. The withdrawal process is especially easy even for the tech-illiterate. The best part about MobileGo is that no fees and commissions apply.
eSports Meets Blockchain
Startups are now beginning to see Blockchain’s significance in deploying smart contracts, hosting tournaments, fueling betting and enabling the easier purchase of virtual assets. This has, in turn, helped grow the eSports ecosystem. Below are some interesting applications for Blockchain
Firstblood is an eSport platform on the Ethereum network that decentralizes a tournament setup and winning distribution. It also allows players to test their skills and bet on games independent of financial regulations, traditional money transfers and middlemen corruption.
Dreamteam is another interesting application of the Blockchain network. It created a recruitment and management platform for novice and pro teams. Smart contracts ensure contractual financial relations for users without the participation of third parties.
These are just a few applications of Blockchain in gaming. As Blockchain evolves, use of the technology will be clearer. One thing is for sure, the second gaming revolution is here and there is so much in store for gamers.