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Own Your Game Play
We’re re-engineering the game model as you know it and
introducing TRUE ownership of game play.
Own Your Game Play
We’re re-engineering the game model as you know it and introducing TRUE ownership of game play.
The OLD game model.
Under the old model, a player works to complete a game, unlocking (sometimes buying) game assets and powerups to overcome challenges along the way. That's where it ends.
Unrealized value.
For players, the value of a game is realized in the form of social and psychological satisfaction. For game creators, the value of a game is realized from the revenue generated through game add-ons, upgrades and advertisers. That's where it ends.
Innovative solutions.
Players want more from their gaming and game creators are under increasing demand to deliver more.
"Blockchain has the power ... to redefine the gaming industry as we know it by making it possible to process payments instantly, which will allow developers to quickly reinvest money into their businesses."
Source: David Petersson (Nov 16, 2018). "A New 'Fortnite' Awaits In Blockchain Gaming” Forbes.
The Blockchain Game Model.
The collision of blockchain technology and gaming holds great promise for the growth of both industries. Blockchains provide a useful tool for gamers for various reasons including decentralized asset exchanges, verifiable scarcity of virtual objects and collectibles, fast and secure transaction networks, and an ability for players and publishers to discover exciting new channels to monetize game play.
More secure.
Blockchains are decentralized and distributed across peer-to-peer networks that are continually updated and kept in sync. Because they aren’t contained in a central location, blockchains don’t have a single point of failure and cannot be changed from a single computer.
Reduced costs.
Faster, cheaper, safer and less error-prone than other technologies, blockchain can reduce cost because demands on the game network and in-game assets can be distributed across the network.
More open.
Blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. The great advantage to an open or public, blockchain network is that guarding against bad actors is not required and no access control is needed.
"Blockchain could disrupt the space in that these virtual items could be traded over blockchain and their whole virtual economy could be built on it."
Source: Annie Pei (Mar 2, 2019). "Blockchain, already disrupting the finance industry, sets its sights on electronic gaming” CNBC.
Player-Owned Gaming Economies.
Games like Fortnite feature a closed item system, whereby items are non-transferable to other players and can never be sold. This creates a situation where the value of your digital goods are trapped inside that particular game’s economy.
The most popular implementation of blockchain technology for gaming is with non-fungible game assets and items. In gaming, these assets can be anything from game skins to virtual cards part of a specific game that are verifiably scarce.
The primary market for virtual items - composed of video gamers purchasing virtual content directly from game publishers - is tens of billions of dollars.
Leading gaming industry research firm Newzoo projects 2.3 billion gamers across the globe and $137 billion in global revenue this year. To put it another way, gaming revenue is more than double the global movie (40.6B) and music industries (17.3B) combined!
Open systems create a positive feedback loop where players can receive tangible rewards for time spent in-game and they can monetize that value. As seen in games like Counter-Strike and Magic The Gathering, a widely adopted open item system creates a robust secondary market for trading and wagering. Game developers, once adopting an open system, could capture this secondary market revenue by utilizing smart contract-based marketplaces.
Buy.
Currently, virtual item trading is centralized. If customers want to buy a digital item, they generally must do so through a trusted third party consignment marketplace. With blockchain technology users can exchange in a peer to peer manner. The authenticity of individual game items is guaranteed using smart contract standards.
Own.
In traditional video games, in-game items and player characters are owned by game developers. They, and the games, are often run on servers. Storing the items and characters on the blockchain allows for a decentralized, immutable record of ownership that can be separate from the gaming company and its servers. This, in turn, can help make in-game virtual assets more valuable, liquid, and worth collecting, as players in essence own the virtual items.
Sell.
With blockchain technology users can sell game items in a peer to peer manner eliminating the need of centralized authority or middleman. If that item is a blockchain asset whose ownership is proven through a token, then perhaps that in game item can then be sold to someone else in exchange for other in-game assets or even cryptocurrency.
Arcade Soft Node.
The blockchain network is a collection of computers all over the world tasked with verifying transactions and blocks. It’s the distribution of these “Arcade Soft Nodes” (the term for a computer attached to the network) that makes gaming “decentralized.”
Arcade Soft Nodes support games by maintaining the blockchain cryptography and confirming transactions (exchanges of digital assets between parties) on the network in return qualifying Arcade Soft Nodes may receive a portion of transaction fees for their computational work.
Running an Arcade Soft Nodes ensures that gaming transactions are verified and contributes to the security and strength of the gaming network itself. Overall, more Arcade Soft Nodes translate into a faster, more stable, and more decentralized network.
The information contained on this website does not convey an offer to sell or buy securities, commodities, or other financial products, and does not constitute investment advice. Moreover, no assurances can or should be assumed by any statements or descriptions, expressed or implied, regarding the past or future performance of our products and services, and the results derived therefrom. In order to further optimize our services, this site uses tracking analytics, to include cookies. For additional information see our Privacy Policy and Terms & Conditions.
Copyright © 2019 Blockchain Game Partners Inc. All rights reserved.
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