Blockchain Technology: A Game-Changer For The Gaming Industry?

by Ricky Makan Co-Founder at Unkrypted

A source of Transparency — blockchain — will help to tackle many issues on the existing game marketplace, from cyber theft to unfair earnings distribution models.

Through Konstantin Boyko-Romanovsky, founder of Destiny Games.

Gaming sector slowly shifted from a small niche for technical geeks into some multibillion-dollar online business for all. Obviously, through this long evolutionary process, this world became a host of new possibilities for amusement and business.

Now video game marketplace is very eye-catching to big business because it continues to rise.

For example, in 2017 the market size reached $104.6 billion. According to Superdata professionals predicts it will boost by 60-80% (more than $168,8 billion in total) by 2020.

Among these – digital distribution platforms that allow developers to distribute their games around the globe in a matter of hours, not days or weeks as it had been before digital platforms appearance.

Currently, the video game marketplace is dominated by Massively Multiplayer Online games (MMO). And this business is growing quite quickly. Last year MO segment enlarged by 13 percent and it’ll continue to grow quite quickly according to analytics. As an instance, Global Massive Multiplayer Online (MMO) Games Market 2017-2021 report authors forecast that it will grow at CAGR by 7.7 percent during 2017-2021.

As well as a digital distribution platform is among the chief drivers of the growth. But it might be more rapid if market participants conquer some annoying barriers. The most significant ones are unfair and complex revenue sharing models in addition to issues in handling ownership of resources and coping with fraud and cyber attacks. These are only a Few of the issues that both programmers and players have to handle.

How blockchain technology can help?

Now we’ve got a fairly powerful alternative — blockchain. Yes, this is actually the foundation of all crypto-currencies like Bitcoin and Ethereum. But it may also be utilized to take care of the challenges of this gambling market.

It’s a transparent and dependable platform that allows building a transparent game marketplace. Obviously, it stays a brand new thing about the video game marketplace, but it’s a really promising technology so now both programmers and publishers are attempting to use it in a number of areas of game marketplace. And there are several running examples: Game Credits, MobileGo, ahead of the Void, Spells of Genesis, respectively.

Among possible ways to use the blockchain is preventing the cheating and duplication. Some knowledgeable gamers have gambling resources that may be sold for a good amount of real cash. But they commonly fall victim to fraud cons and cyber thieves. However, this is just one case of employing the blockchain in the game market.

It might be much more useful than simply be a “protector” for matches. And here we could use another case- fresh job The Abyss. It may tackle number of significant issues for programmers and players. This stage has a strong focus on free-to-play (F2P) browser and customer MMO games. Both players and programmers can make from multilevel referral and inspirational programs and this blockchain will ensure that this new-generation system is secure and transparent for consumers.

And yes, Players could earn from their hobby also. As an instance, the new system The Abyss has profound a 5-level referral program, which enables players to gain from their referrals. Throughout payments, achievements and a few other actions of their own referrals.

They’ll get 70 percent of all payments made through their game. These payments might be used for almost any other game at this stage. Programmers are going to have also various other gains from the Abyss. As an instance, they’ll have the ability to release their games free on the stage with a fairly major traffic. Also, they’ll have the access to this exclusive, innovative stat system and consumer insights. Referral system enables getting payments even from players that already leave the game.

Source: http://www.unkrypted.com/blockchain-technology-for-gaming-industry/