Distributed ledgers in the form of blockchain technology are scrambling to enter financial markets, healthcare systems, and global supply chains, but perhaps the most significant disruption has yet to come. In recent months, Irreplaceable tokens (NFT) has used the spotlight as a sign of the legitimacy of digital goods, from art to antiquated Internet fashion.However, the game industry is very suitable for NFT integration, which has been recognized by several well-known entities in the game industry, especially Sony, Ubisoft, Game stop and even Sega.
If you find it hard to imagine, please look at the analogy of the livable arcade shown in the picture below Ready player one A functional approach to clarify what shape the blockchain-based gaming industry can take is proposed. This film is adapted from Ernest Klein’s novel of the same name and directed by Steven Spielberg. It tells the story of a teenager looking for the key to hidden wealth in a virtual world. oasis -Ontology is a human-centered sensory immersive simulation.Interestingly, the connection with blockchain technology is production Even before the movie was released.
At first glance, although blockchain technology is not very obvious, in addition to NFT, of course, it can provide a basic layer of operation for most of the strange and wonderful concepts depicted in the movie.Delivery drone from Pizza Hut (see This Academic report) When it comes to facial recognition technology, you will find that these types of technologies are no longer reserved for large screens-they have entered the real world.
Let’s start from the basics
You only need to pay $0.25 to start the game, and everyone can enter the same level of OASIS. Almost everything else incurs additional in-game costs-this is a relatively common concept in games. In this way, the currency in OASIS is used as the fuel for the network, just like the SAND token in The Sandbox on the Ethereum blockchain. Similar to OASIS, although at a more elementary level, it allows players to purchase in-game services, transactions, and vote on decisions that affect the gaming network.
In addition, players can also use familiar game tools to navigate the OASIS field, such as heads-up displays (HUD) and user interface (UI) lists. Of course, these concepts also exist in blockchain-based games, such as Neon District (role-playing game) and Dissolution (first-person shooter) games. Unlike traditional game networks, these games are developed using blockchain technology, allowing players to truly own the assets they have acquired. Further development will enable future game players to unload redundant in-game items to reclaim real-world value.
For now, traditional games are not conducive to the way OASIS works. Because it exists on a specific platform, the value is largely isolated from the corresponding game. In this way, an individual who plays Call of Duty will not be able to exchange value with another person who plays FIFA or Fortnite. More importantly, there is no interoperability between game networks such as Microsoft and Sony, which further isolates the huge potential exchange of value between these worlds.
On the contrary, games that support blockchain give players the ability to bring assets to decentralized exchanges and exchange value, as seen above. Automated Market Maker Such as SushiSwap and Uniswap. The operation of these platforms is slightly different from centralized cryptocurrency exchanges such as Binance or Coinbase, as there is no central authority to approve transactions. Instead, the authority for funds and transactions is distributed among users, thereby eliminating any single point of failure.
Although there are certainly some additional steps compared to the seamless transaction flow seen in OASIS, this infrastructure allows players to exchange value between games, in fact, the game network. It also allows players to truly own their in-game collectibles, building a future where previously intangible digital assets can become legal commodities.
Build a tokenized economy
Amount of time and money spend In terms of gaming, especially during the 2020 COVID-19 lockdown, it is shocking.Game ecosystem is expected exceed By 2026, the valuation will reach 300 billion U.S. dollars, surpassing other major entertainment industries such as movies and music.In addition, the global tokenization market is expected to arrival It will reach US$4 billion by 2027. Many avid gamers are eager for a chance to get a piece of this pie, even though this is forElite“game player.
Similarly, in Ready player one, Players are scrambling to make a living in OASIS, using a different method of making a living than game players in our universe. Imagining the intersection of the remote work (performance) economy and the gaming industry, the digital economy running on the blockchain network seems to be a natural progression.Encryption-driven gig economy has obvious advantages benefitThe ideals of the gaming industry overlap with the main features of blockchain technology, and there are a large number of crypto entrepreneurs capital In the e-sports market.
More importantly, the market for selling encrypted game NFT experienced There will be explosive growth in 2020 and even more so in 2021.In fact, NFT sales Summit US$2 billion in the first quarter, excluding the Best shot in the NBA, Which recently surpassed 1 million users.
In the broader economy of OASIS, players are incentivized to compete through competition”Cultural relics“-Rare and powerful items usually obtained by completing challenges. It fits perfectly with the way NFTs are already operating, just like in Gala Games world Mirandus, NFT gives players a competitive advantage and is undisputedly owned by the player who obtained them.Similarly, the virtual fashion revolution has it has started In the game, we may see a meta-universe full of luxury fashion brands earlier than you think.
Next level game
Like any traditional role-playing game, there are non-playable characters (NPCs) in OASIS. They occupy a place in the environment and players can interact with them. Naturally, this immersive virtual experience requires a high level of responsiveness and adaptability that is currently unimaginable built into its structure. You probably know where this is going: artificial intelligence or the world of AI.
Another concept that emerged Ready player one It is Halliday Journals, it is the library of all the memories of the creator of Oasis. It is used by players to find clues to the key and is described as being presented through closed-circuit television recordings and written diary entries. At this point, I can’t help but think of Neuralink and its proximity to the gaming industry. Neuralink, a project developed by Elon Musk, is a neural implant that allows users to control their computer or smart device.
Perhaps in the future, we may see a gamified brain-computer interface, which is protected and operated by blockchain technology to provide an immersive experience like OASIS. Can you imagine such an experience with Tod Morley’s”Blockchain Tower,” Copy Halliday Journals, in a fully interactive environment, memories are stored and represented by NFT?
finally, Ready player one A cautionary story is presented that inspires the audience to keep in touch with the real world. Similarly, we must persist in our ambitions for blockchain technology. Before this heavenly vision based on encrypted games leaves an indelible mark on the mainstream gaming network, there is still some mature work to be done.
Having said that, blockchain-based games are developing steadily, and the functions of blockchain games may enhance traditional game business models-the most familiar are free in-game purchases (Fortnite), physical copies or purchases with additional content ( Digital downloads of Xbox, Playstation or Nintendo games) and freemium games (Eve Online or World of Warcraft).
The value of these games and their respective networks usually accumulates in the pockets of the game publishers, and players usually have little appeal to the game networks they generate astronomical value. This model did not age well and proved to be unreasonable for games with network effects.A particular recent example is Strongly opposed Oppose Call of Duty: Warzone to promote the advantage of paying to win.
Blockchain-based game selection distinguishes itself in two main qualities: the first is digital ownership—allowing players to truly and immutably own their game assets—the second is a free market in which players can Exchange their accumulated value for themselves.With huge funds flood Entering the field of blockchain games, the combination of digital ownership and free market participation may make the gaming industry the most radically enhanced industry of blockchain technology.
This article does not contain investment advice or recommendations. Every investment and trading action involves risks, and readers should research on their own when making a decision.
The views, thoughts, and opinions expressed here are only those of the author, and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Eric Capfarmer He is the chief operating officer of Polyient Capital, responsible for overseeing strategy and network investment, and focuses on legitimizing the role of NFT in the global digital economy. Eric is also the founder of LogosBlock. Before launching LogosBlock, he led a data science team at Microsoft focused on applying statistics and machine learning methods to computer and network security. Eric is a member of the board of Ibis Security, a payment and security company focused on blockchain. He received a bachelor’s degree in business and international relations from Puget Sound University and a master’s degree in finance from Seattle University.