Blockchain and the evolution of business models in the game industry
With the introduction of blockchain-based assets for games comes the possibility of entirely new business models and innovative development. The first computer games were developed in the late 20th century with the sole purpose of entertaining their audience. One of the first goals was to distract players from their routine work and provide them access to a fantasy world. Very soon, games began to compete for users' time against traditional forms of entertainment, such as movies, circuses, theater performances, zoos, etc.Planet Earth entered the new millennium with a population of over 6....
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A blockchain-focused panel at Finnovasia yesterday drew so many interested FinTech professionals extra chairs needed to be brought into the auditorium. The panel session at the Hong Kong conference centered on how blockchain is changing banking in Asia, with the audience there to hear insights from UBS Asia-Pacific CTO Peter Stephens. BitSpark CEO George Harrap; and ANX CTO Hugh Madden, among other industry participants. Amongst the assembled panelists it was perhaps Stephens that drew the most attention from Finnovasia's attendees for his insights into how the financial services firm is....
When blockchain use cases became a wondrous thought for developers keen on the technology, gaming may not have been highest on the list of ideas. However, the emerging technology — better understood as a decentralized or distributed ledger — sits at the core of the next evolution of digital trading card games (TCGs). Switzerland-based mobile game developer, EverdreamSoft, is said to be set to take the digitized genre a step further by way of innovating its TCG’s economy, building into it, blockchain technology. The aspects of evolution. Launching in full this September, the digital TCG,....
Blockchain-based play-to-earn games stole the show in 2021, but there are still game developers who are not on board with blockchain. Blockchain-based play-to-earn (P2E) games stole the show in 2021, exploding from a fringe hobby into a major part of the decentralized space. They even helped people in developing economies put food on the table, as these games’ economic models do not shun things like farming in-game currency and items to re-sell to other players, which many non-blockchain massively multiplayer online games (MMOs) frown on, to say the least. The mainstream gaming industry....
Gaming has become an integral part of our daily lives worldwide. The gaming industry is raking in billions of dollars year after year, attesting to its profitability and widespread adoption. According to Statista, more than 3.24 billion gamers worldwide were actively or passively involved in gaming last year. Despite the massive size of the gaming industry, gamers have expressed concerns about the traditional model of gaming, which is the “pay-to-win” model. Traditional gaming requires players to acquire in-game assets to rank up and achieve particular goals, which can strain....