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Blockchain In Gaming Industry

Bringing Blockchain To The Gamingindustry

Bringing Blockchain To The Gamingindustry

lf, the next breakthrough in Blockchain. Bringing blockchain to the gamingindustry The gaming industry generates at least $110 Billion in revenue every year. And this number is growing rapidly with involvement from almost every country in the world. It is a connection that transcends borders, race and language. There is no segregation based on age or gender. Youve either played games, or youve watched others play; and if you havent done either then you will at least know someone who is involved in this industry, one way or another. By entering this industry, this is just another way in which aelf will change the world. You may have heard of cryptocurrency or blockchain technology affecting a particular industry like finance, medical, or insurance. But how can blockchain technology impact the gaming industry? Fraud is strife throughout the virtual goods market. With blockchain technology, true ownership of virtual goods can easily be facilitated and become immutable. Regardless of what happens to a platform, game or account ones goods are always safe. You may have played a game where you purchased something in game only to find it did not actually credit your account. You then spend the next 2 weeks trying to convince support that you purchased the items and you have not received them. Blockchain technology will make this frustration a thing of the past. Another benefit is the use of payments through blockchain tech for game distribution. Current payment systems are slow, flawed and cumbersome. The use of stolen cards, currency conversions, regulations regarding payments from a particular country are just some of the problems faced by distributors. And then there is piracy need I say more? Removing the middle man, speeding up transactions, lowering fees, ensuring true p Continue reading >>

12 Ways Blockchain Will Disrupt The Video Gameindustry

12 Ways Blockchain Will Disrupt The Video Gameindustry

12 Ways Blockchain Will Disrupt the Video GameIndustry The union of gaming and blockchain is inevitablethe impact of this evolution is set to be just as significant as the emergence of online gaming a decadeago. Gaming and blockchain are two fields at the epicenter of a new wave of competitive technological innovation. The race to pioneer new technologies, or to apply existing technologies in ingenious new ways, is fierce. Companies constantly strive to stand out from the crowd, and the quickest way to differentiate ones self is to deliver the best user-experience. The union of gaming and blockchain is inevitable and the impact of this evolution is set to be just as significant as the emergence of online gaming a decade ago. Thankfully, there are organisations in the crypto space offering solutions to help game developers disrupt themselves. By providing open source development, economic frameworks, and experience in blockchain integration, these organisations hope to provide the right tools to help game developers break new ground. The past has proven that companies who disrupt themselves build reputations, resources and R&D that drive growth for years. After all, who better to disrupt you, thanyou? So the question becomes, what can the blockchain do for gaming? 1. Continuous and Parallel Gaming Universes The distributed ledger can make it possible for gamers to use their characters and items in multiple games with interlinked environments. This data could even be used by in-game algorithms to work out a players gameplay preferences and provide a more tailored experience. The implications could be profound; consider, for example, the potential for ongoing character development through multiple games. Developers who release game series could connect those worlds using Continue reading >>

How To Set Up In-game Monetization Using A Blockchain Platform

How To Set Up In-game Monetization Using A Blockchain Platform

If youre a game developer, youve probably heard that the blockchain is going to likely disrupt the gaming industry as it tries to solve some of the difficult problems developers and players face when it comes to payment processing, fraud, and item trading. But most game developers are not blockchain developers, and they are hesitant to invest in learning and implementing a whole new technology for their games. Right now, platforms such as BitGuild are bringing this new technology to developers. The goal is a system with all the benefits of the blockchain that you can plug straight into your next project, letting you concentrate solely on building fantastic games. However, doing so will require more than just a few extra lines of code. Youll need to rethink your relationship with the players, too. Many games and publishers are already making a killing off of in-game purchases. Free-to-play games let players join for free, but charge extra for things like upgrades, special items, and abilities. It works because players can essentially pay whatever they want to play a game. Those with cash to spend can buy in-game enhancements, basically funding the game for others. Players that dont want to spend any money at all can still join in and play the game. However, in-game purchases for a game currently comes with a plethora of challenges for developers, including things like: Setting up several different payment channels (especially for global games). High transaction fees, thin margins, and long settlement times. Legal responsibilities in protect the virtual goods that players have bought and stored on your servers. All types of fraud such as credit card and PayPal chargebacks. The current solutions to these problems arent ideal. Its difficult to allow players to directly cas Continue reading >>

Blockchain Could Turn Video Games Into A Full Time Career | Digital Trends

Blockchain Could Turn Video Games Into A Full Time Career | Digital Trends

Video games are more than a game. They are, at different times for different people, a challenge, a business, a lifestyle, or all the above. While professional gamers fight for titles, and the money that goes with them, millions of others are buying, selling, gathering, grouping, chatting, and organizing. While not everyone has realized it, humanity has long passed the point of projecting real value only on tangible objects. Virtual goods can command staggering sums. This article is part of our series Blockchain beyond Bitcoin . Bitcoin is the beginning, but its far from the end. To help you wrap your head around why, were taking a deep dive into the world of blockchain. In this series, well go beyond cryptocurrency and hone in on blockchain applications that could reshape medical records, voting machines, video games, and more Many games, like Fortnite and League of Legends , have built themselves on top of paid transactions for characters, items, and currency. Yet the details of how these purchases interact are often unclear. What should players own? How should goods be traded? Who should dictate pricing? The answers depend on the game you play and can vary wildly from one game to the next, sowing distrust and confusion. Players want consistency, flexibility, transparency, and privacy. Theyre not getting it. Blockchain might be the answer and more. The promise of ownership may be what lures gamers towards it, but theyll get more than they bargained for. Seeing the potential for profit, companies soon appeared to farm in-game gold and items. By the mid-2000s, gold farming was in full swing, complete with digital sweatshops that saw workers spend 12-hour days grinding away in games. Free-to-play games turned that reality into a business model, selling official virtual Continue reading >>

Blockchain And Ar Is Revolutionizing The Gaming Industry

Blockchain And Ar Is Revolutionizing The Gaming Industry

Blockchain and AR is Revolutionizing the Gaming Industry Join our community of 10 000 traders on Hacked.com for just $39 per month. Merging the virtual and real world is a development that is becoming common in the gaming ecosystem. Most of these new games involve the integration of game visuals and audio content with a players environment in real time. This phenomenon is described as Augmented Reality (AR). Working with the GPS application of the mobile devices , game players are made to complete tasks and quests around their immediate physical environment. These kinds of games have a way of acquiring several associated benefits to participants depending on the games primary dynamics. Exploring ones immediate environment is what a lot of people hardly engage in. To do so based on the motivation of some form of rewards or challenge makes it an interesting and in most cases captivating system of exploration. Being a new kind of technology and still in its innovative stages, AR is finding a lot of different implementation in the gaming industry that mirrors real life processes. Some are set in the ancient existence of several ages ago, while others are set in the present day living or projection of future existence. Beyond the timeline, these setups are also organised to represent specific industries, ranging from politics, to commerce, real estate, culture, e.t.c. A typical example of AR implementation is the Mossland Reality Reflection which is a location-based Augmented Reality (AR) mobile game that is based on real estate. In Mossland, users identify real properties in the world and add them to the game world. This gives other users the ability to buy and sell real-world properties in the Mossland virtual world. The game utilizes a blockchain-based cryptocurrency to Continue reading >>

Bitguild Announces Blockchain Platform For Online Games

Bitguild Announces Blockchain Platform For Online Games

BitGuild announces blockchain platform for online games "The implications of having a true gaming network built on the blockchain are nearly limitless," says CEO A gaming platform which promises to address the issue of property in a digital age has today been revealed. Using blockchain technology, BitGuild aims to give the user ownership of their in-game items, allowing them to maintain their digital possessions even when an online game shuts down. As with cryptocurrency, the aim of BitGuild is to decentralise the data, granting ownership to the user, rather than a game developer or publisher. Games on BitGuild will be built from the ground up to make every character, item, and asset completely unique, and therefore tradeable. Where previously in-game items were intangible data on a private server, using BitGuild, these items would belong to the player in the form of a token on the blockchain. BitGuild is led by virtual currencies and gaming veteran Jared Psigoda. Before founding BitGuild, Psigoda was CEO and co-founder of Reality Squared Games; he has since founded Livestar, a development studio focused on bringing live streaming and other social media apps. "We watched the gaming industry deteriorate over the years, as developers had to make more addicting and profitable games in order to survive. A lot of times this came at the cost of player experience and game lifespan," said Psigoda. "Games like Crypto Kitties are all pretty basic in nature, but they very clearly demonstrate their ability to solve problems that have plagued both gamers and game developers for years. The implications of having a true gaming network built on the blockchain are nearly limitless." Sign up for The Daily Update and get the best of GamesIndustry.biz in your inbox. Continue reading >>

Blockchain Could Trigger The Game Industrys Next Evolution

Blockchain Could Trigger The Game Industrys Next Evolution

Technology is mostly incremental. We make batteries last 20 percent longer. We make glass strong enough to serve as the front surface of a cellphone. We let headphones sample ambient sounds so they can filter more noise. Products perform better. They cost less. They last longer. Sometimes a different sort of innovation comes along, a technology that serves as the platform for unanticipated breakthroughs. These innovations disrupt the status quo, toppling established market leaders and creating opportunities for a generation of creators: artists, technicians, leaders, or dreamers. The full implications of these major innovations are never fully grasped at first. A few visionaries get a glimpse and play a hand in the disruptive transformations that accompany the new technology. But disruptive technologies dont achieve full fruition until they are harnessed by a community of creative dreamers who use them to instantiate their creative visions. Thats where we stand today with blockchain . Blockchain is a data structure and associated set of algorithms for distributing, storing, and accessing data. Computer programs use blockchain protocols to ensure that access to information is, due to the unique distributed nature of the blockchain architecture, secure, authenticated, and authorized. The technology supports the authentication and transfer of digital data, including everything from medical records to cryptocurrency without the need for an intermediary broker. Thats why blockchain is ideal as the technical foundation for an international, friction-free virtual currency like Bitcoin or GAME . Every unit of cryptocurrency is indexed and every transaction is recorded in a secure, authenticated open ledger that maintains anonymity and privacy among those who conduct the transa Continue reading >>

Why 2018 Will Be The Year Of Blockchain For The Gaming Industry

Why 2018 Will Be The Year Of Blockchain For The Gaming Industry

Why 2018 Will Be the Year of Blockchain for the Gaming Industry Even though the game industry has been growing at a healthy rate, maturity in the console market, as well as on mobile have made business difficult for small and mid-sized game developers as well as for many participants in the market. The industry, especially in North America, has also been slow to adopt new technologies such as blockchain and cryptocurrency, even though the potential around utilization seems painfully obvious. Venture Beat recently predicted Blockchain could trigger the game industrys next evolution but the model currently holding investment, development, and the gaming community together is outdated, and overdue for a seismic shift and a new direction. Blockchain is one of the most versatile technological advances of the last 20 years. And that evolution is what led BIT.GAME to explore, and ultimately deliver the worlds first blockchain game exchange. At the dawn of Apples App Store, the game industry experienced a renaissance, as independent developers finally gained access to customer pools in the millions. Careers were launched, new genres were invented, and innovative new titles captivated audiences old and young, all over the world. Blockchain gaming has the potential to be be this generations renaissance as games will no longer be forced to deal with the limiting economics of isolated, immobile tokens & currencies. And that is what BIT.GAME is banking on. BIT.GAMEs blockchain games are decentralized, autonomous communities built to serve players, developers, and investors alike. Everyone is on an even playing field. Tokens are issued in blockchain games which control flow, behaviors, and the economics of the community. All players can participate in token mining and have input on Continue reading >>

How Blockchain Could Redefine The Gaming Industry

How Blockchain Could Redefine The Gaming Industry

How Blockchain Could Redefine The Gaming Industry As the games industry evolves and more new technologies emerge, there's one on the horizon that could solve many current issues: Blockchain. What is it? We explain... Welcome to the GameAnalytics blog, where we try to help game makers build more engaging experiences through a strong understanding of their core metrics. To say that the gaming industry is large has become an understatement. For some perspective, the forecast for the number of cars sold worldwide in 2017 is 79.6 million , which brings the current estimate for the total number of cars on the road up to around 1.5 billion. Compare that with the current estimate for the total number of people who play video games: 2.2 billion . According to Newzoos latest Global Games Market Report, the global games market will have generated $108.9 billion of revenue in 2017. This is a 7.8% increase from the previous year, and is expected to rise to $128.5 billion in 2020. As we move into 2018, gaming is becoming less comparable with that of the film industry, and more with that of professional sports. However, regardless of size, bourgeoning industries come with obstacles, and gaming is no exception. Developers frequently cite budget constraints, fraud is widespread, third-company companies such as Steam have interfered with the supply chain, and some countries present issues with censorship. However, while these problems are very real, there is an emerging technology that could become an equally real solution to some or, potentially all of them: blockchain. 'It is certainly not an exaggeration to claim that Blockchain will revolutionise the gaming industry in the coming years.' @PunEnjoyable explains all in this handy primer about the emergent technology. Click To Tweet Bl Continue reading >>

Why Blockchain Technology Is About To Disrupt The Video Game Industry

Why Blockchain Technology Is About To Disrupt The Video Game Industry

Why Blockchain Technology Is About to Disrupt the Video Game Industry Why Blockchain Technology Is About to Disrupt the Video Game Industry A look at the possibilities in joining the super trendy video game sector with blockchain and AI. The video games industry has become a very hot topic on Wall Street, with discussion about stats like young gamers spending an average of 3 hours and 25 minutes each week watching other people play video games online (as compared to the roughly 2 hours and 30 minutes per week spent watching traditional sports). Yet, even this burgeoningindustry that seems to be dominating the news cycle with stories about how many people are playing the popular gameFortniteis still ripe for further disruption. That disruption may be found through joining the super trendy video game sector with the also oft discussed tech surrounding blockchain as well as artificial intelligence. Video game developers have most to gain from blockchain disruption. Inherent benefits of using a distributed ledger includeimmutable, transparentand public-key encrypted storage of records, including token transactions; scalability;and the democratization iofboth the supply and utilization ofartificial intelligence (AI)developer contracting andoutsourcing across international borders. With regardto the video games industry, it's certainly not something that the consumers (or "gamers") arelikely to witness first-hand, but they should be concerned nonetheless, because by breaking down the various barriers to entry for developers and clients,decentralization could help to foster the next generation of creative talent,and thus an overall increase in quality for the design and implementation of technical innovations. All too often, entrepreneurs and small businesses are too fixated Continue reading >>

Blockchain To Advance The Video Game Industry

Blockchain To Advance The Video Game Industry

Blockchain to Advance the Video Game Industry Bitcoinist.net March 5, 2018 1:45 pm 777.BINGO Pan Entertainment Platform is Revolutionizing the Way Video Games are Played 777.BINGO wants to bring a $120 billion industry with 2.21 billion potential customers worldwide to the blockchain. The industry is video games, and it is one of the fastest growing businesses on earth. There were 1.815 billion video game players in 2014, Statista estimated . That number grew to 2.210 billion in 2017; and is expected to grow to 2.341 billion in 2018, and 2.725 billion in 2021. All those players spend a lot of money on games, 777.Bingos research revealed . The global video and mobile games industry generated $120 billion in revenues in 2017, and those revenues are projected to grow to $200 billion in 2020. The 777.Bingo team calculated that the global game industrys revenues are growing at a rate of 10% a year. The 777.BINGO team has identified major problems with the present games business model that are not being fixed by present-day systems. Those problems threaten the industrys ability to make money because they can drive away players. The greatest danger is that the fairness of the game cannot be guaranteed, the 777.BINGO concluded . There is no easy way for the users to recognize whether the process or the result is fair. Thus, it is impossible to create a game that is real, open, transparent and just, the company notes. Such issues not only affect the users gaming experiences, but also cause serious user loss. Flaws in the architecture, software, and business practices of present-day gaming platforms convince many players that the games are fixed or rigged against them. These players quit in frustration because they think they will never win. Such losses force gaming companies to Continue reading >>

Gamers And Investors Bet Big On Cryptocurrency And Blockchain In The Gaming Industry

Gamers And Investors Bet Big On Cryptocurrency And Blockchain In The Gaming Industry

Gamers And Investors Bet Big On Cryptocurrency And Blockchain In The Gaming Industry I write about crypto, women in crypto and blockchain technology. Opinions expressed by Forbes Contributors are their own. The value of cryptocurrencies will become more evident as the gaming community continues to gain more active users While Bitcoin's shaky price run continues, the value that cryptocurrency can provide outside of the trading realm is becoming evident within the billion-dollar gaming industry. Cryptocurrency and blockchain technology were hot topics during the Game Developers Conference (GDC) that took place in San Francisco last month. As I made my way through the record-breaking crowd of 28,000 industry professionals, I constantly heard cryptocurrency and blockchain being mentioned. DMarket , a leading global marketplace that uses blockchain technology to transform virtual gaming items into real world assets, hosted a blockchain and gaming panel discussion during GDC. The purpose of the panel was to provide an explanation as to why cryptocurrency and blockchain technology are having an impact on the gaming sector, which is expected to become a $143 billion global industry by 2020. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Breaking It Down: Why Gamers Understand Crypto Jared Psigoda, the CEO of BitGuild - one of the companies that spoke on DMarkets gaming and blockchain panel at GDC - explained that the concept behind digital currencies has resonated with the gaming community for years. Gamers in particular understand cryptocurrency because virtual money has been a part of gaming for the last 10 years. For example, dating back to t Continue reading >>

Blockchain Is Games' New Tech Obsession

Blockchain Is Games' New Tech Obsession

Home Development Publishing Politics & Law Media & Marketing Mobile VR & AR Financial Esports Events Video Game Jobs EGX 2019 Early tech adoption is part of the essence of the games industry - but proposals to integrate blockchain into companies' businesses, not just their games, should give us pause The tendency to view video games as an entertainment product - part of a spectrum encompassing things like movies, TV shows and music - is an entirely reasonable one. But it can obscure the fact that video games are also often the most advanced, complex and demanding pieces of software that the average consumer will ever use. Sure, we get occasional references to how amazing it is that modern games are doing in real-time what it used to take rooms full of whirring servers weeks to accomplish for movie special effects only a decade or two ago; but even these comparisons, being focused solely on advances in real-time graphics, don't fully grasp the extent of the technological accomplishment of modern games. In many cases, video games will be the first contact a consumer ever has with brand new technologies that go on to widespread adoption elsewhere. As such, it's unsurprising that any new technology with a strong buzz around it is of immediate interest to game creators, business leaders and investors. For games, new technology can present a myriad of advantages; it can open up new possibilities for graphics, gameplay or interaction, or provide time- and cost-saving shortcuts to implement previously complex and expensive features, or simply give a competitive leg-up over other games. Beyond the advantages of new tech, there's also a fear of missing out behind the industry's drive to engage with cutting-edge technologies, even those which remain unproven; adopting a technolog Continue reading >>

How Blockchain Can Revolutionize The Gaming Industry - Twice

How Blockchain Can Revolutionize The Gaming Industry - Twice

The gaming industry continues to thrive with consumers ready to engage with new, exciting products. It is ideally placed to take advantage of technological change that will enable new ways of working, and will increase the number of new games coming into the market. Weve seen pioneering innovations created through vibrant, dynamic online communities. Now we have Blockchain , which has huge potential to impact how talent is accessed, people are paid, and their work organized. But what does this mean for the games industry? Related: Six Ways Blockchain Can Transform Retailing In the early days of Blockchain and cryptocurrencies there was no feasible way to financially reward gamers en masse for co-creating games. Now that these technologies are established, a model where co-creators are guaranteed financial rewards has become possible. Giving people incentives with real economic benefit to do the work they want to do co-creating games will put an end to this form of unpaid work. Real rewards will also increase both the quantity and the quality of the work dramatically. By allowing developers and publishers to recognize this work and give it the scale of awareness it needs, community creators will quickly become third-party developers and gain financial rewards for their work. Gamers will be rewarded with cryptocurrency for playing and reviewing games, giving feedback to developers, and sharing social content to help in the promotion of games they love. Developers will in turn have access to millions of gamers throughout the entire creation process, and will even be able to license user-generated content and sell and market these games through the platform. This new model comes ahead of a key transition in the global labor market: while technologies such as AI will make s Continue reading >>

The Blockchain Gaming Revolution: Why Ethereum Will Revolutionise A 100 Billion Dollarindustry

The Blockchain Gaming Revolution: Why Ethereum Will Revolutionise A 100 Billion Dollarindustry

Robot wars on the Ethereum Platform. The Blockchain Gaming Revolution: Why Ethereum will revolutionise a 100 billion dollarindustry TL;DR: Game companies have always held all the power. Youre merely licensed usage of in-game assets, and the skins and items you trade can be changed or taken from you at any time. But true, decentralised digital ownership is now possible through the blockchain, and it is shaping up to be the next revolution in gaming for the players, by theplayers. The demand is here. But players deserve more than centralised game markets, with non-transparent drop rates, and financial decisions made in the best interests of company shareholders, rather than gamers. They deserve true digital ownership. Digital gaming brings in about $100 billion in revenue every year. Its projected to triple by 2022. And in almost every single one of these games, players are buying items, skins and upgrades which they dont truly own. They cant sell them. (If they can, its in a second-hand market regulated by games companies). They cant trade them. Items are locked to each player. They cant use them on any other platforms. Ownership is locked to the usage within the specific game made by that company. (And even if a company claims an item is rare, theres no real way to prove that wont change in the future.) Imagine a game where every hour you spend grinding or smashing your opponent isnt financially in vain. Where the ultra-rare drop you find could be worth thousands, or you could buy the very weapon used to win a World Championship. (or previously owned by your favorite Twitch streamer, if thats your thing). How much would the actual skin used by Faker in a World Finals fetch on a marketplace? Every digital asset is uniquely identifiable with ERC-721 Ethereum tokens, so e Continue reading >>

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