Smart Media Tokens are nearly upon us. For us Steem hodlers, this is an event of nearly prophetic proportions.
There's going to be an enormous wave of SMT-based tokens, and I think the time to really consider what's possible is now, before the SMT's hit.
One of the industries that stands to be utterly transformed by blockchain and crypto technology is gaming, especially social gaming (e.g., MMORPG's, MOBA's, and Multiplayer FPS). What's possible in this space is enormously exciting. Part of me wonders whether or not I don't have mixed feelings about making games with an earnings aspect, but regardless of what I think this is inevitable - so we might as well get it right.
But what does 'getting it right' mean?
To give an example of what I believe is right, let's look at my favorite (and perhaps the most popular) MOBA: League of Legends. If you're not familiar with League, that's alright. It's enough to know that it's an online game played with two five-player teams of human players. Each player gets to choose from over 100 characters (likely less, depending on how many they actually own), and one team wins by pushing into the enemy team's territory and destroying their Nexus, or base center.
Anyway, after each match you have get the chance to honor other players. Now I don't know about you, but this sounds like a great place for an SMT to me. Keep in mind that there are lots of goodies to buy in the in-game store, but right now you have to spend fiat to get the special points needed to buy most of it. If there was an SMT attached to the game, you could combine the ecosystems of the League forums, the store, and the game itself. Competition would get much more stiff, but it would also become much easier to control bad behavior. An SMT earnings penalty for people who dodge (quit a game early or drop during champion selection) would dramatically decrease this behavior. People who consistently behave well might receive an SMT reward to incentivize good behavior further.
SMT's would also inherently put pressure on gaming companies to decentralize more and more. For example, right now the MOD community of most games is just one of passionate hobbyists. But with SMT's we could see a lot more full time MOD-ers. How exciting would that be? Competition amongst MOD-ers could lead to a new era in which the free game offerings released after the game are more exciting than the game itself. This means that people would be factoring in the community as part of the value of the game - the way it should be.
If You Build an SMT, Players Will Come
It's unlikely that the larger companies will adopt SMT's right off the bat. The smaller companies, more willing to take risks, will be the ones to attract players with this approach. When some of these companies seem like they're in range of becoming a threat, the larger companies will catch wise and join the party.
Ultimately, the examples I provided here are merely the tip of the iceberg when it comes to the potential of SMT's and gaming. I encourage the community as a whole to discuss thoughts, opinions, and suggestions in the comments.
Tuesday, December 19th, 2017
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Author's Note:
It's coming along! I might actually get it out before year's end.
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