The future of video gaming appears to be very bright; thanks to the blockchain technology. What’s more; game goers get to keep their loot without sharing with any middlemen and the results cannot be doctored whatsoever. Everything is laid bare; there is sufficient transparency once video games are integrated into the blockchain technology.
Each video game goer has distinctive passions and invests time on the games for different reasons. Some find fun in challenges while others play to defend their titles but above all, the money that goes with the video games genre one indulges in.
Lucrative Video Gaming Industry
The true value of video gaming has remained a myth but the entry on the blockchain technology is about to disrupt that school of thought. Professional game-goers are set to benefit from the true value of the industry.
In an exclusive interview with Newconomy Live, Marcus R. Brown, Co-founder, game developer and a blockchain architect on the future of virtual gaming and the entry of the blockchain technology:
“There are several platforms where developers can build their gaming apps including Ethereum and Stellar. The most exciting bit about crypto-based games is that there is a lot of trust among gamers as compared to traditional “console-based games.”
According to Brown, the hype behind virtual goods and services purchasing is not about to die out; you are either virtually buying, selling, meeting or chatting and this has shifted focus from tangible products and services and this is where blockchain dominance sets in. investing in blockchain gaming is real and developers and players have a chance to build a career in the niche.
Today, many games have dominated the markets and ride on paid transactions based on their popular characters and or merchandise. However, the gamers do not understand how these transactions and fees are arrived at. Players never get to know their real worth and have no control over the price. This confusion is about to end; blockchain is about to give the online game goer more solutions that they have been yearning for.
Transferring Virtual Items Real Ownership to Gamers
The current video gaming industry is in a mess with no set rules to put the games to check. The in-game purchase processes are unstructured and you cannot bank on it as a career. The restrictions are so centralized that a new market has emerged; the black market. Gamers are completing their purchases off the system and benefiting the black market operatives making scams the order of the day.
Wealth acquired through back street dealings does not guarantee legal ownership and this cannot be a sustainable venture for those seeking a career in video gaming niche. However, blockchain backed digital ledger effectiveness is set to give the gaming industry a new face of decentralization giving users and players the real ownership of what they earn in the industry.
Video Gaming Consoles Death in the Offing
Using blockchain means all transactions are recorded across the entire network and shared across multiple computers with no single entry point for manipulation. Once the computer goes off, the validity of records still stands. This is “cold storage” and set to make gaming consoles irrelevant.
Decentralization has given the gamer true ownership since the gaming databases are not controlled by a single entity. Records are genuine and fair and fraud instances are not possible. According to The Founder and CEO of DMarket item exchange, Vlad Panchenko, blockchain advantages in the gaming industry are immense:
“All the transactions will be secured by blockchain technologies, eliminating any possibility of fraud. With DMarket’s blockchain, all gamers’ virtual items become real. It’s like Bitcoins or Ethereum in your wallet.”
Blockchain technology is making it easier to connect the gamer and the game value. Once the players own virtual in-game items, they have control over when, where and whom to sell them to. Traditionally, video gamers are not protected. With blockchain, the scenario is changing and turning the industry into a career as Panchenko adds:
“Information about each item’s owner and history will be secured on the blockchain. This will create additional demand for these items from rare asset collectors or celebrity gamers.”