The Gaming Industry has been exponentially growing for the past few years. There are about 2 B gaming enthusiasts across the world. The earnings from the gaming industry is here to increase and is likely to touch $128 B by 2020. After recognizing its importance, many organizations and brands have stepped in this hot market. According to a job website Indeed, Canada’s gaming industry worth $3.4 B. The industry is said to have provided 40,000 jobs across Canada. That means, the gaming industry has in it to become one of the largest industries across the world.
Lately, the Blockchain has made a booming entry, and the talks have been going around relating to Blockchain and Gaming industry. Well, it is true that both the industries can work together. The reason is vast majority of the online gamers daily buy thousands of virtual goods for their in-game inventory. There has been many cases of fraud reported to the game developing companies. However, the hackers nowadays are smarter. Most of them are gamers themselves, and they know how things work in a particular game; in short, there are loads of financial security issues in the gaming industry. The Blockchain here could play a vital role by improving the safety and efficiency of the in-game items.
There are many gamers who lose interest in games and leave behind thousands of dollars of worth in-game items. Additionally, there is no technology that can estimate the net worth of a particular account and helps potential buyer acquire it via an established platform. There are a significant number of gaps needs to be filled in the gaming industry, and majority of them requires technology supported by Blockchain as it is cryptocurrency that has till date the safest transactional model.
Capitalists Moving To Gaming Industry
The Blockchain is one of the significant means through which capitalists can safely invest their money in gaming. One of the major pros why capitalists are eying on the gaming side is because the Blockchain helps provide the proper valuation report of the industry through ICOs and several crypto tokens.
How Blockchain Can Be Helpful For Team Owners?
The Blockchain technology provides a safer agreement between the players and teams that promises the highest level of security. The system also helps maintain the stats of prior tournaments and leagues.
How Players Can Benefit from The Blockchain Technology?
The players are a significant aspect of any team because at the end of the day they are the ones who have to be on ground battling for a title and prize pool. Subsequently, their financial security is the most important part of their contract with any team. With that being said, the Blockchain technology can help players maintain a record of their earnings - Throughout their journey with any team. This will enable all the team players to focus on their gameplay, rather than thinking about their rewards. Also, the Blockchain helps maintain the records in the most secure manner. Thus, the Blockchain could turn around the financial part of the gaming industry.
How Gaming Audience Can Benefit From Blockchain Technology?
The audience are the major part of any event as the sponsors look for the audience before putting their money in any event. The audience has been showing great potential and support for gaming. The audience engagement has drawn billions of dollars from the sponsors around the globe. For instance, Dota 2’s Ti17 drew $24 Million in the prize money, which is till date the highest prize pool in the gaming industry. However, Epic Games has recently announced that it will host the biggest Fortnite event consisting of $100 Million Prize Pool, but it is yet to arrive.
Moreover, the gaming industry revolves around the in-game items which players shop to increase their inventory. Similarly, the audience watching the gameplay is also from the gaming community and hence connected to virtual items. It usually feels annoyed, while paying cash for the event tickets. The Blockchain Technology can help release the pain by offering it a secure crypto system to pay for the event tickets.
Let us know how you feel about the following:
- Being a gamer, are you familiar with cryptocurrency?
- Is it a good move to bring crypto tokens in gaming?
- As a supporter, would you buy crypto currency to pay for your event tickets?
- Will you invest in the gaming crypto market? If not, then why?