Cryptocurrency And Gaming

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Sometimes things just go together like they were made for each other.

With cryptocurrency, it appears the ideal counterpart is the gaming industry. This was one of the fastest growing sectors over the last couple decades meaning that integration into that industry could really catapult cryptocurrency forward.


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Gamers are already accustomed to dealing in virtual currencies. As gaming moved from cartridge based to online, the features that were included kept expanding. Part of gaming's appeal is growing in stature as a player, which often means amassing a chest full of in-game tokens or assets.

Thus, for decades, gamers were doing what people in the cryptocurrency world are doing presently. They were ahead of the curve.

Ironic that gaming still have not come around to embrace cryptocurrency. What looks like a marriage made in heaven is likely a major threat to the existing gaming companies.

This industry is no different from any other one. At the core is power and control. That is what all companies seek and those like EA Sports follow suit. Adding cryptocurrency to their existing games could result in the loss of some of the control.

The value to in-game assets, from the company perspective, is they reside in game only. While there are a few of the more successful games that saw secondary markets, all transactions happen within the confines of the game they assets are associated with. Cryptocurrency completely obliterates this model.

Instead of being relegated to in game, the assets can be swapped on open markets. This means that the assets reside outside the game in some type of wallet controlled by the gamer. From that point, assets can be moved at the option of the owner for whatever assets he or she is willing to take.

This results in a tremendous loss of control. In fact, at that point, it would be possible for other gaming developers to allow the entry of those assets into their games. Or, at a minimum, they could enable a swapping of those assets for something that is applicable to the feature-sets in their games.

Obviously, the first gaming company is not going to sign up for this. Why would they want their assets to be used in other games? The way it is now, they would not want that.

Ultimately, the large gaming companies might not have a choice. It could be a situation where they have to adapt or face extinction. Like the newspaper and record industries before them, new technology caused a massive shift within the industry. While a few were able to adapt, many went out of business due to their inability to transition.

Could we see the same thing in the world of gaming?

Blockchain based games are on the rise. While none have even come close to mass adoption, it is only a matter of time before the concept starts to penetrate the psyche of gamers. Why are they spending all their time on games that do not financially benefit them? The greater the amount of success one has in a game, the more it means nothing. In the end, the financial value is equivalent to the worst player. All payouts mean nothing (tournaments with prized aside).

Obviously, on Hive, we see one of the more successful blockchain games in @splinterlands. This is a game that keeps growing in stature and is setting the pace for this transition. However, it is still miniscule on the scale of the entire gaming community.

Here is where the potential resides. There are an estimated 2 billion online gamers around the world. That breaks down to more than 1 in 4 people. If cryptocurrency wants a fast track to adoption, that would certainly be a venue. The gamers are ardent about what they like and will invest not only hours, but money into their pastimes.

When it comes to establishing a massive network effect, gaming is the ticket. The numbers are simply too great to overlook. As we progress towards the Metaverse, the line between gaming and the rest of the world will blur. This puts those people in ideal position to leverage this for future financial gain.

After all, they were dealing with digital assets two decades ago. It is the rest of the world that is now catching up to them.

Article by @taskmaster4450le.

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12 comments
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I completely agree with everything you have written.
I stopped playing video games many years ago when I started working. Since I discovered Hive I started playing Splinterlands and now I play 6 different blockchain based games and I keep searching for games with potential because I firmly believe that the beneficial wave of decentralization will sweep away the centralized world we know.
When this wave arrives (hopefully as soon as possible) I want to be on a surfboard with the Splinterlands logo on it instead of sitting on a couch playing Fortnite and Co. :)

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I remember when the real world auction house came out in Diablo III. It was such a huge game changer and then it ended up failing miserably. It would be cool if someone like Blizzard were the first to implement something like this since they already have a bit of experience with it. In a round about way...

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the line between gaming and the rest of the world will blur.

I already feel like we are playing a game, but it's a very shitty one of that.

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I think games are a great showcase for crypto and blockchain. It could be a good way to attract more people to it.

It's a very new thing and yet we already have some promising games being developed so I think the future is bright for blockchain gaming.

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I see such a future for games like Splinterlands as that line blurs as you say. There is a ton of potential in monetizing gaming for the individual gamer, nobody would have ever imagined this even just 5 years ago.

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I believe the gaming industry will be one of the catalyst to propel mass adoption. I see a great future where everyone will have a at least a crypto game in their smart phones. With time will see this things as more developments kicks in


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Yes crypto can definitely change the way games function in society. I don't exactly like the way that games have evolved to charge you a ton for DLCs and expansions because it looks like most of them were already planned. If I could earn some crypto by playing and then use that to unlock, I think more people would be happy to play all of the content available.

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There's no question the synergies are there. The problem right now is the devs in the gaming world haven't really put it together yet. I know a few and they are so exclusively focused on building their games that most don't even have a thought for crypto. It will come though, I agree. Someone will figure out a way to combine a great mass-market game with a token. Again, Hive would be a perfect place for them to do that. Gotta keep spreading the word.

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Brand loyalty is part of the issue, I think. Not so much in that people choose PlayStation or Xbox so much as pc vs console. PC has become kind of a niche compared to where it was back in the late 90s.

At the same time, most people don’t use their phone for serious gaming. They’ll play angry birds or candy crush or whatever but the phone isn’t the preferred device for most games.

Then, there’s the prestige of getting the hot new release that people are sleeping on sidewalks to get before anyone else. No one cares about a game no one is talking about. If it was worth playing they’d have heard of it.

I think all this comes together to create something of a bubble around the gaming community.

Then add to that the idea that getting paid to play a game sounds like a pipe dream. There’s no way that’s real. Or if it is it must be a lousy game if they have to bribe people to play it.

Most of us end up getting stuck in a mindset at some point. As individuals it can be difficult to see beyond it, but it’s not impossible. In a group I think it’s extra difficult because there’s an entire community of people reinforcing it.

I suspect crypto gaming will be like everything else in the tech space. One day there will be a big light bulb moment and the next day the entire culture will be different.

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I've been looking quite a bit into Enjin, which appears to be a blockchain gaming metaverse, where devs can program games that are cross compatible within their ecosystem. Interesting stuff.

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Gaming takes on two different faces nowadays.

You have the PC / Console gamer - who is all about spending time playing. FPS, rankings, tournaments are all key. You can make a career out of it.

You then also have the casual gamer. The person who works for a living and dabbles. This is me. I like playing fortnite for fun. More recently I have really enjoyed Splinterlands. It is simple, easy to play, quick so you can dip in and out, but has enough gameplay to keep me engaged. I also love the fact that it is blockchain based and teaches you about crypto and how the blockchain works.

My worry is for games like Splinterlands you have to understand the blockchain. Set up a Hive account. Figure out how to transfer Fiat to Hive to Dec to Steem to Fiat to ... etc... This may put some people off who just want to quickly enjoy it. When the "currency" interfaces become a bit simpler then I think we will have another uptake from a new generation of gamers.

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It's true, we gamers are better prepared for this crypto world, as it's something we relate to on a daily basis.

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