Developers set eyes on the $180 billion gaming industry for future blockchain tokenization
Credit: pixabay - Free Photos
While blockchain has always been the talk for 'serious' industry players in finance, government services and property, it takes a lighter note on the booming gaming industry.
The online lottery market alone is estimated to be worth $10 billion today. Blockchain helps to redistribute winnings in a systematic and secured manner. Recently Adam Vaziri, Chief Regulatory Officer of Quanta, spoke at the Blockshow Asia 2018 event on 29th November held in Singapore. The Quanta business is to provide blockchain technology applying to Lottery business/ gaming industry. Part of the license is given by the Isle of Man authorities for the blockchain-based lottery as requested for a series of process and workflow testing. QNTU is the utility token for Quanta.
Speaking to Shogo Ishida, Marketing Director of Quanta, during the Blockshow Asia event, Ishida explained that their blockchain lottery is a transparent system where players are required to pass KYC checks before using the Ethereum based system. The greatest challenge will be getting licenses from governmental bodies which regulates the lottery business via an assigned operator. Quanta is currently expanding into Africa to offer blockchain-based lottery.
Credit: @steemmonsters
The gaming industry is already using all forms of tokens provided by companies. Almost every game today has a form of token which allows you to make in-game purchases with your credit card. The problem is, when you stop playing that particular game, your unused tokens are left stranded and stuck - in the game.
The current lack of tracking for company-issued tokens is already an ongoing issue. Fraud apps that are suspended or removed from app stores do not refund customers. Gaming dApps are however not gaining enough popularity.
Virtual pet video game, CryptoKitties, is a blockchain-based game released last year 2017 which faced congestion on the Ethereum network due to a high volume of transactions.
Hence running games on a scalable blockchain such as Steem is making much more sense. Steem Monsters is a Steem powered trading card game. Cards owned a broadcasted directly on Steem's blockchain tied to the private key of the user.
The game received more than $88,000 of funding from a crowdfunding effort on Kickstarter. Cards with high rarity are currently drawing a price of US$3,000. When it comes to pay-to-play, the sky's the limit.
Credit: Blockchain Cuties
Vladimir Tomko, co-founder and CEO of Blockchain Cuties, also commented at the Blockshow Asia 2018 event that blockchain is enhancing the gaming sector with new game points and tokens on trading platforms. Browser (or console) games already have sustainable business models backed by investors. Blockchain platforms can bring in adoption and thus help businesses to grow.
it was only a matter of time before devs from both Indie and triple A sides looked towards the potential benefits of blockchain tech. it would not surprise me if we see it implemented into new games or existing ones via updates.
great post dude.
This post received a 50% UpVote from @TechMojo.
@tysler, I really appreciate this post and you shall be getting comments, quality ones from me henceforth.
Cheers!
In the meantime, this post has enlightened me the more as to blockchain slashed with gaming or gaming industry. I was not sure there is a way both could be linked productively as you hae explicated till I read this, thanks to you and thanks to @crypto.piotr for linking me through him to you. @Jodekss 😊
Hi @tysler
Im not much of a gamer so I cannot really put any input into your publication. Except that I do see a huge potential and demand in gaming market.
Great piece of work buddy
Piotr
I want to say that your info is really great, but always I say everything in your info can called future but not for us, it could be for the next generation, young people, gamers, players... this kind of industry is huge and many people are creating more interesting games everyday and also expanding around the world including blockchain and bitcoin ...
Thanks for this insight! What you think about Steem potential to be used as a layer for online casinos? I'm thinking about how Steem could be used as trust tool for casino games.
Congratulations, your post was discovered and featured in our Daily Curation Report (09-12-2018) and has been upvoted for free by @ignis-witness Curation Trail ! For curation, we are currently using a curation trail that includes 9 people.
It's similar with this. should i take a risk here in IOG? im really confused...
Congratulations @tysler! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
<table><tr><td><span><img src="https://images.hive.blog/768x0/https://steemitimages.com/60x70/http://steemitboard.com/@tysler/payout.png?201812100839" srcset="https://images.hive.blog/768x0/https://steemitimages.com/60x70/http://steemitboard.com/@tysler/payout.png?201812100839 1x, https://images.hive.blog/1536x0/https://steemitimages.com/60x70/http://steemitboard.com/@tysler/payout.png?201812100839 2x" /><td>You received more than 10000 as payout for your posts. Your next target is to reach a total payout of 20000 <p dir="auto"><sub><em><a href="https://steemitboard.com/@tysler" target="_blank" rel="noreferrer noopener" title="This link will take you away from hive.blog" class="external_link">Click here to view your Board of Honor<br /> <sub><em>If you no longer want to receive notifications, reply to this comment with the word <code>STOP <p dir="auto">To support your work, I also upvoted your post! <blockquote> <p dir="auto">Support <a href="https://steemit.com/@steemitboard" target="_blank" rel="noreferrer noopener" title="This link will take you away from hive.blog" class="external_link">SteemitBoard's project! <strong><a href="https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1" target="_blank" rel="noreferrer noopener" title="This link will take you away from hive.blog" class="external_link">Vote for its witness and <strong>get one more award!This a good article, as an investor on cryptocurrency, I see all the marketed gaming tokens and coins as a profitable one, due to how gaming become so big these days, eventually will get bigger later on future, some how It got more attention on some investors especially with some exchanges doing a competition or trading competition like this one : https://www.kucoin.com/#/rank/IOG
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