Blockchain and video games. What entices investors in this direction?

Bitcoin is transforming the financial industry before our eyes. Many BTC watchers expect a complete replacement of the existing payment, trading and banking infrastructure. How [...] https://www.pinterest.com/pin/1085437947660215829/

Bitcoin is transforming the financial industry before our eyes. Many BTC watchers expect a complete replacement of the existing payment, trading and banking infrastructure. As many people believe, blockchain and finance seem to be the perfect combination. However, there are other sectors where blockchain technology can find application. For this particular industry, blockchain is gaining popularity. This technology could revolutionize the gaming market. This is a unique opportunity for investors, and it looks like more and more of them don't want to miss their chance. Over the past few years, the gaming industry has been spoiled with several innovations at once. We are talking about virtual reality (VR), augmented reality and artificial intelligence. Although the aforementioned technologies have brought a lot to the gaming space, it is blockchain that may have the biggest impact on it. Investors have no intention of being passive observers. As a result, more and more of them are snatching up the support of blockchain productions. They believe that blockchain will revolutionize gaming and cause a great breakthrough in this industry. According to many, there is a huge potential in this technology that can be perfectly exploited. Transformation of games on all levels How can distributed ledger technology help both developers and gamers? The possibilities of blockchain are vast in terms of usability. There are many ways in which it can do so. For example, the technology could eliminate the trading of resources and items outside of the game. Players would not be able to sell their items for real money. Developers could design their games to be closed ecosystems. This would eliminate a lot of cheating, as no outside values could be introduced into the game, and attempts to interfere by such software could be caught efficiently. When you buy an in-game item, you have confirmation that it is indeed original, belongs to you, and what is the exact amount of these virtual assets in circulation. Blockchain allows publishers to set their own rules for tokenized assets. They could charge a fee each time a resource is transferred, regardless of where it is sold. Consequently, users would trade the asset as they see fit, and the creators would continue to profit outside the primary market. The CryptoKitties phenomenon Everyone has been aware of the close interaction between distributed ledger technology and gaming ever since CryptoKitties emerged. This game is based on the Ethereum network. It allows you to breed and trade unique kitties using cryptocurrencies. It uses NFT tokens (non-fungible tokens), which makes each kitten unique. To date, players have spent millions of dollars on the pets, with the most expensive one selling for 600 Ethereum, or about $170,000 at the time. Productions like CryptoKitties demonstrate the potential of tokenizing resources using a distributed ledger. DLT ensures that asset data is unique and unrepeatable. It guarantees users ownership of their digital objects. All of these features contribute to the perceived value of assets. Although CryptoKitties gave a foretaste of the possibilities of the distributed registry, the game failed to attract a wider audience (we are talking about users outside the cryptocurrency market). Next-generation blockchain-based games, such as Epic Digital Collectibles, aptly align DLT capabilities with mass consumer needs. Blockchain can help games buy, sell and store assets With a distributed ledger, the issuance and trading of in-game assets will go to the next level. Developers have the ability to create games that allow players to buy resources using coins, making the process easier, faster and safer. Cryptocurrencies could also help solve the problem of microtransactions. However, publishers understand that the average consumer is not ready to transact in cryptocurrencies, so they use familiar payment mechanisms in FIAT currencies. Furthermore, developers can create specialized structures for digital assets used in games. As previously mentioned, CryptoKitties was built on Ethereum, but there are already blockchain standards that focus exclusively on games. One such example is dGoods. The token structure was initially developed for the EOSIO protocol. Mythical Games is a developer that has used dGoods for its in-game assets. The company plans to launch its first production, called "Blankos," in 2020. Rumor has it that Blankos will be the largest blockchain-based gaming venture to date. Soon, the number of developers using distributed ledger technology may increase significantly. Blockchain can help developers increase their engagement rate. Game publishers have noticed that games that support blockchain