The video game industry is a natural partner of blockchain and cryptocurrency or tokenized gaming. For years, video games connected to the internet have flourished off (DLC) or downloadable content, and in app purchases. Many popular games have created their own currency for buying in game items in exchange for USD. Clash of Clans and Clash Royale by SuperCell allows users to purchase gems for in game upgrades and speeding leveling up or unlocking items. Epic Games Fortnite is famous, for its currency V-bucks which allow users to purchase items which give no competitive advantage. This is Fortnite’s sole form of income, as the game is free and they do not feature ads.
So how then is the migration happening, from virtual currencies and gems to actual blockchain and tokenized driven gaming? Blockchain as an immutable one-way road of a general ledger, allows games to utilize this technology to reward players with tokens or real cryptocurrency if the users win games, unlock achievements or level up within the game. All of this can be built on the backbone of pre-existing blockchains, most of which are open-source projects and code available for developers use cross industry.
There are games however that use blockchain for blockchain’s sake, irrespective of normal gaming or cryptocurrency practices. Cryptokitties allows players to buy sell, breed and raise varying species of rare cats online. However, many speculate this type of game will not hit the mainstream, and most likely, cryptocurrency and blockchain, will just provide a tool for developers and gaming studios to augment and improve the current gaming industry.
One such game is Lightnite. This game is a parody of Fortnite, and is a Bitcoin Battle Royale, a game format that allows users to fight every man for himself to gain a Victory Royale as the last man standing, and receive liquid assets and Bitcoin for victory. Users may also buy and sell or trade their in game items for small amounts of Bitcoin. Much like the currency itself, when betting your items or Bitcoin in game, if no-one else picks up the items and completes the transaction, it will not be logged on the Blockchain, and is lost forever.
This is just one of many games that is powered by Blockchain. There is also World of Ether, EOS Knights and more, that function on the varying blockchains, and feature the blockchain’s flagship token. While the space is still in its infancy, blockchain and cryptocurrency as a whole will alter the gaming space as it is today known.
