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Blockchain is revolutionising the gaming industry

Blockchain, the driving force behind cryptocurrencies such as Bitcoin, is often talked about in regards to the impact it can have on industries such as banking, agriculture and healthcare.  What is rarely mentioned alongside Blockchain is the gaming industry. Blockchain is a public record of transactions that can’t be hacked or manipulated. Proof of game ownership can be stored on a blockchain. What other ways is blockchain revolutionising this industry?

Games are being created that are driven by blockchain

Decentraland is a virtual reality environment engineered by the Ethereum blockchain. It allows gamers to purchase plots of land that they can build on and monetise. It is completely owned by the people who play it, so you can do whatever you want with the land that you own. Over time, players can build up their properties over time that could create an entire virtual world with businesses and services.

Developers are using blockchain for payments

With cryptocurrency payments, in-app purchases are quicker than traditional methods and eliminate the need for a middleman. These payments go directly from the player to the developer. GameCredits is building a payments system for this and aims to be the sole payment system for the entire online gaming industry, allowing payments for games and also the in-game purchases. Instead of using a marketplace which charges commission such as Steam, The Apple App Store or the Google Play Store, the blockchain also allows developers to reach gamers directly, again eliminating the need for middleman, saving costs.

Blockchain technology is turning aspects of real life into gaming

Bitcomon Go, influenced heavily by Pokemon Go, is an augmented reality game available on blockchain. With this game, players are rewarded in game tokens for carrying out every day tasks such as going for a walk. The idea of the game is to reward you for your experiences with tokens that you can use to spend on the blockchain. Another game, CryptoKitties, allows you to buy a cat, mate it and then sell the kitties. $12m has already been spent on virtual cats.

Blockchain is reducing fraud in the gaming industry

Fraud is a common issue in gaming especially in the online casino world. In fact, speaking to a Unibet spokesman, it was explained that is exactly why they and other licensed online casinos employ reputable Test Labs like iTech Labs and Trisigma. These test labs are integral to ensure all games are compliant and verify that they are all secure and fair. Too often hackers find a way to cheat a game which can see players obtain thousands of tokens or diamonds for free when other gamers have either spent real money on it or spent hours, days, maybe months building them up. The security and transparency that a blockchain provides has the potential to eliminate this from the industry for good. Enjin Coin allows for gamers to create currencies and items that are traded with the parent Enjin Coin. Worldwide Asset eXchange is a decentralised platform on the blockchain that can be used to build virtual marketplaces. It uses WAX tokens and allows cryptocurrency and any virtual asset to be traded.

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