The gaming industry has witnessed a massive change and adoption since the 20th century. With the discovery of the state of the art technologies, of which some have been employed in the industry such as artificial intelligence (AI), cloud gaming, mobile computing, virtual reality and not forgetting the Blockchain.
According to analysts and professionals, the video gaming market is expected to surge as a $300 billion industry by 2025. This indicates that the market is poised to grow as its adoption increases and there are innovative technologies.
In recent times, mobile gaming has accounted for a larger cut of the industry’s cake. This has led to the emergence of many app stores with the most recognized being Google PlayStore and the Apple Store. In 2018, mobile gaming surpassed pc and console gaming as the market generated $131 billion which was out of a result of an increase in high-performance smartphones.
Source: Wolfstreet.com
Blockchain Technology in the Gaming Industry
The Blockchain technology has had a great impact on any industry or sector it has been applied and the gaming industry is no exception. The blockchain, when introduced in gaming, can help solve or mitigate problems that possess a threat to the excellence of the industry. The technology can change how transactions are executed in a gaming ecosystem, enforce comprehensive privacy and patent policies, better revenue for developers and players, crowdfunding for innovative developers, decentralization, security, and transparency, etc.
The industry is experiencing a crucial turn as developers adopt building a decentralized app (dApps) on the blockchain. Decentralized apps come with numerous benefits which could be the reason for the massive adoption. First, the blockchain technology ensures high security for video games. It serves as a onetime solution to digital pirating (illegal trading of digital items). It also provides developers the ability to monetize their developments (games via tokenization) and have full control of their creation/innovation.
In addition, every party gets their share of the benefits so does players. The blockchain makes sure game players have secure and easy ways to make payment and also earn from playing games. This is achievable through the deployment of cryptocurrencies and tokens. Players can easily trade their digital assets using the p2p model whiles eradicating intermediaries.
How Dabanking leverages the blockchain technology
Dabanking is a decentralized gaming platform that seeks to offer gaming services as a means of entertainment and most interesting help players to and other parties in their ecosystem to earn passive income. To achieve this, they have developed two dApps that users can enjoy and earn namely FOMOJACKPOT and FOMOGAME.
The FOMOGAME
The fomogame is a decentralized app built on the Ethereum network. The game ensures fairness and transparency among stakeholders and is poised to making the ecosystem captivating and lucrative for all individuals.
FOMOJACKPOT
Fomojackpot is a lottery program developed on the blockchain that gives users the chance to win thousands of ETH in a draw. In order to participate, users are required to buy game tickets with a small amount of ETH.
Dabanking - This is how it works
Users are required to purchase a ticket and the price of the tickets is dependent on designated counter timers (Green Watch & Gold Watch). The green watch is set to 48 hours and when it runs down below 24 hours, all new tickets purchased will add up to 30 seconds plus but no more than 24 hours. The gold watch has a similar initial set time but it only starts when the recent ETH prize is higher than the previous round.
Initially, the price of tickets starts at 0.002 ETH and eventually increases whenever the Gold clock begins to run. The total Eth purchase of tickets are distributed in a particular schedule as follows:
Who wins what of the 50% allocated for the award?
When users purchase tickets for the contest, the 50% allocated as the reward pool is shared according to categories. The 50% is further divided among participant in each category (users are selected randomly using a sophisticated algorithm to each category). The distribution schedule is as follows:
Earn Whiles you Play :)
You can earn good sums if you participate in the FOMOJACKPOT program with a relatively small initial amount in ETH. This can be achieved by buying contest tickets on the platform.
Ten percent 10% of ETH raised as a result of ticket purchase and revenue form the FOMOGAME is allocated to the dividend pool. Rewards are paid every two weeks as follows: 70% to DAA holders who freeze their tokens on the platform and the remaining 30% will be added to the subsequent 2 weeks’ dividend pool.
NB: After each cycle, users tokens will be unfrozen, meaning users will have to re-freeze their token to earn at their own discretion.Gaming income is another way all parties in the ecosystem can earn. The more games are played with ETH the more DAA token is exploited regardless if you win or lose.
Conclusion
The Dabanking ecosystem is one in a million. How fun is it to get rewarded for what you do for pleasure? This is more like a dream. Play online games as a means of entertainment and at the same time get incentivized. All this fun is made possible thanks to decentralization and Dabanking initiative.
Resources have been provided below for further reading and clarification. The future of gaming is final here!
Links
Website --- https://dabanking.io/
Whitepaper --- http://dabanking.io/static/whitepaper.pdf
Telegram --- https://t.me/DABANKINGOFFICIAL
Ann Thread --- https://bitcointalk.org/index.php?topic=5146671.new#new
Content Credit
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=2596274