It’s no shock that the digital gaming industry brings in over $100 billion in revenue every year. This figure, however, is expected to triple by 2022. In almost every game available, there’s a marketplace for in-game items, once that players are readily snapping up. But, for those shelling out real-world cash on these skins, upgrades, and items— the issue arises that they don’t truly own them.
Players who own these items find themselves in a predicament.
They can’t sell the items — And if they can, it’s via a market regulated by game companies.
They can’t trade the items — As most items are locked to the player
They can’t be used on any other platforms — You may “own” the item on that one game, however, there’s no application elsewhere.
Sure, as you’ve seen with skins in games like CS:GO and PUBG — scarcity of items fuels the steam marketplace and items received for free can easily reach prices in excess of $500.
Enter: Blockchain Gaming
Imagine playing a game where your efforts aren’t financially in vain. A game where your time is rewarded and where the ultra-rare drop you find could be worth thousands.
Perhaps that VERY weapon was used in a worldwide event, utilised by your favourite Twitch streamer or perhaps a dev themselves.
Well, this is actually all a reality — thanks to decentralised apps (dApps). Blockchain is revolutionising the way we view gaming, not just from reassessing game mechanics, but through to providing a decentralised marketplace where players can **really own **their items.
"So what can players do when their digital assets have been manipulated to further maximise game profits? Well, nothing. If you don’t like it, you can stop playing — but is that truly the answer?"
To those who have played any MMORPG, you’ll know how swiftly the economic climate can change in the marketplace. That ultra-rare item you purchased a month ago, could easily have decreased due to it being seeded in the game further, or to make way for another expansion-based ultra-rare item.
So what can players do when their digital assets have been manipulated to further maximise game profits? Well, nothing. If you don’t like it, you can stop playing — but is that truly the answer?
Being at the forefront of this paradigm shift we’ve been able to assess the way in which our items will be accessible to the players, understanding that as gamers we to want to own our items.
So why is this important?
Well, if we look at Valve’s bold move to implement a trade-lock on their flagship warfare game: CS:GO you can see just why. Valve made it so that any items you buy, are now locked from being traded again within a 7-day window.
There’s a wealth of information online for you to read about this, so we won’t go into great detail about this. However, what it essentially brings to light, is that these supposedly free economies are still privy to being centrally controlled by companies as they see fit.
With the fast-moving nature of online marketplaces taken into consideration, that $1000 skin you’ve found could made non-tradable tomorrow. Perhaps, the drop rate could be increased, thus lowering its scarcity and further dropping the value. There are just so many variables to take into consideration when working with a centralised marketplace — one’s beyond your control.
So what’s the big deal?
Just 10 years ago, the thought of making money from gaming was a distant dream. One reserved for the small circle of pro and sponsored players. But with the increase of streaming on platforms like Twitch and Mixer — making money from gaming has never been more accessible. The same should apply to the items found in-game, allowing more people to make a living from gaming (It’s still the dream for a lot of us) or at least become a nice side income.
But if you delve even deeper, as a game is rich in lore so should its items. Imagine being able to dive in to the heritage behind it, which battles it has seen, how many kills its seen, its ownership trail — to name a few applications.
No longer do we have to concentrate on it being a cool concept. Those days are behind us.
Blockchain gaming is here. Take ownership.
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