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Social Casino – Cryptocurrency – Blockchain – Tokens

February 28 Sandra Wong

Transforming the gaming world with Blockchain – what can it do for gamers and the future of gaming?

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The most obvious way to integrate blockchain technology into gaming is to use the same blockchain-based cryptocurrency to reward in-game achievements, to purchase upgrades and game options, and to purchase other games from the online store. It turns out the blurring the line between game-commerce and real-commerce creates freedom and opportunities for players.

But blockchain can do much more. For instance, a blockchain could also be used as a data structure to store gameplay, with each of a player’s moves within the game stored as a transaction in a verifiable ledger. It’s a simple way to document the record-breaking high scores you earn when no one is around — even for tournament play. In a blockchain-structured game, this storage would happen automatically and the historic data would be accessible to anyone who receives a key.

Blockchain technology enables four key freedoms for players

Freedom to collaborate: Role-playing adventure games enable you to form teams or cohorts to accomplish quests. With blockchain, you might transform your time investment and game-playing skills into compensation for your leadership, management, and story-crafting skills. Blockchain lets you send gifts or loans to team members without leaving the game environment.

Freedom to profit from blockchain for gamers and rewards
Serious gamers accumulate lots of in-game rewards. In traditional gaming, those rewards disappear the moment you log out. With blockchain, the rewards you earn stay with you, and you can use them however you want. You can spend them in the game, use them in the game store, hold them as an investment, or transform them into cryptocurrency or fiat at an online exchange.

Blockchain means more game developers and managers will announce tournaments with prizes with rewards in cryptocurrency that winners can use within the game, in the e-store, and in the offline world.

Without blockchain, players must count on game publishers or store operators to convert achievements into cash. Credits accumulated in one game would disappear if the game were to be discontinued. Blockchain supports the conversion of achievements into cryptocurrency that is accepted throughout the gaming world.

Freedom to grow in blockchain gaming value
You can use your blockchain wallet to invest in your own success as a player. You can double-down on the game you’re playing, purchasing options and upgrades. You can enlist the help of expert players or enter expert-only playing levels. You can use rewards earned playing one game to skip past tedious opening levels in another, although this would require developers to build this possibility function into their games. You can study the moves of expert players – stored automatically and efficiently in the blockchain database – to benefit from their expertise.

Without blockchain and a widely accepted cryptocurrency, such investments are limited to a single game, publisher, or ecosystem. The verification, openness, and freedom from intermediaries offered by blockchain technology make it ideal for breaking through the barriers that separate businesses and players today.

Freedom to create
With blockchain, the game designer’s goal doesn’t have to be your goal. Blockchain technology empowers you to pursue your own goals and tailor your gaming experience to your own preferences.

You each contribute a bit of cryptocurrency and the winner takes it all. Without a blockchain-based cryptocurrency, you would need to approve each potential transaction with your bank or credit-card provider. And you would need a trusted intermediary to hold funds in escrow until the wager is resolved.

Blockchain for game developers
You can create games that are more compelling. Players will be drawn to games that allow them to earn meaningful rewards instead of mere in-game trophies. They will work harder and longer to achieve milestones. They’ll create strategies and explore your world in ways previous generations of players couldn’t. Your games won’t just have fans – they’ll have enthusiastic collaborators, gamers who help create new adventures for other gamers.

Blockchain also supports you in your desire to be more creative. With an in-game economy that interacts with real-world currency, you can open up all sorts of options that never made economic or practical sense before.

Blockchain for gaming capable platform by Quantaloop blockchain ecocsystem of Canada.

 
SOURCE: Venture Beat

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