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Author Topic: Crypto-gaming is the next big thing!  (Read 651 times)
e11io
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September 22, 2017, 09:39:45 PM
 #1

There are many industries the blockchain will disrupt, but there’s one that with the right crypto implementation will grow at an insane rate: games.
The gaming industry is worth around 100 billion dollars in 2017, and it will only keep growing. Millions of people around the world buy items, skins, in-game currencies, and other game assets, every single day.

Now, when these gamers are done with one particular game, all those assets they spent hundreds of dollars in, become nothing. They are now literally worth $0.00.

So let’s say someone could use some futuristic magical technology, *cough cough* the blockchain, to turn them into actual value, into something that they could own forever, trade, sell, or import into other games they want to play. It sounds obvious, as it should have been like this from the beginning and that means that, sooner or later, it will happen.

Want a sneak peak of the future of gaming? take a look at Steam where users can sell their game-assets to buy new ones from the same or a different game, or even buy a whole new game. The problem comes when users are done with the platform, they become hostages because their assets aren’t really theirs, they can’t cash out.


Even though this is a flaw, the gaming marketplace model is proved to work and is amazingly successful — there are millions of users already used to managing currencies with a specific purpose.

In the specific case of Experimental, users will be able to play with their e11, and whenever they win a battle, they can literally cash out to Ethereum, and then if wanted, to USD.

Companies that give true ownership to their users will lead the gaming revolution to come. It might seem that this is only a benefit for the users but truly it’s not. There are hundreds if not thousands of opportunities for the current market leaders to own the new economy — but the same rules apply for boutique game studios, and democratization is not always well received when you’ve built a $3billion gaming empire based on antique rules.

This analysis could be done for almost any industry and the result will be the same: Fortune1000 companies will have to adapt if they want to survive.
The blockchain brings with it a set of values that will have to be adopted by all of us, decentralization, democratization, and fairness. When will it show results? that burden relies on us.
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September 22, 2017, 10:01:22 PM
 #2

There are many industries the blockchain will disrupt, but there’s one that with the right crypto implementation will grow at an insane rate: games.
The gaming industry is worth around 100 billion dollars in 2017, and it will only keep growing. Millions of people around the world buy items, skins, in-game currencies, and other game assets, every single day.

Now, when these gamers are done with one particular game, all those assets they spent hundreds of dollars in, become nothing. They are now literally worth $0.00.

So let’s say someone could use some futuristic magical technology, *cough cough* the blockchain, to turn them into actual value, into something that they could own forever, trade, sell, or import into other games they want to play. It sounds obvious, as it should have been like this from the beginning and that means that, sooner or later, it will happen.

Want a sneak peak of the future of gaming? take a look at Steam where users can sell their game-assets to buy new ones from the same or a different game, or even buy a whole new game. The problem comes when users are done with the platform, they become hostages because their assets aren’t really theirs, they can’t cash out.


Even though this is a flaw, the gaming marketplace model is proved to work and is amazingly successful — there are millions of users already used to managing currencies with a specific purpose.

In the specific case of Experimental, users will be able to play with their e11, and whenever they win a battle, they can literally cash out to Ethereum, and then if wanted, to USD.

Companies that give true ownership to their users will lead the gaming revolution to come. It might seem that this is only a benefit for the users but truly it’s not. There are hundreds if not thousands of opportunities for the current market leaders to own the new economy — but the same rules apply for boutique game studios, and democratization is not always well received when you’ve built a $3billion gaming empire based on antique rules.

This analysis could be done for almost any industry and the result will be the same: Fortune1000 companies will have to adapt if they want to survive.
The blockchain brings with it a set of values that will have to be adopted by all of us, decentralization, democratization, and fairness. When will it show results? that burden relies on us.


You should check out enjincoin and their thread here on the forums. It is very similar to everything you outlined here. However, they moreso focused on the marketplace sense of gaming rather than the longevity of in game currency. I think the gaming industry is a boom waiting to happen for an altcoin.

This area is up for grabs! PM me if you're interested.
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September 22, 2017, 10:44:51 PM
 #3

Interesting post OP. I support what you're saying 100%.

One thing to mention, if it becomes possible to sell in game items through a 3rd party, second hand, market via crypto. While that would be great(!) selling prices would likely be much lower than buying prices similar to how baseball card shops and collectible outlet operate.

If someone owns a baseball card worth $100 they might only get $50 for it if they try to sell it to a shop that deals in collectibles. The same principle could apply to a 3rd party that buys in game items. The only way they could turn a profit is to buy at a lower price than they sell.

It could also open the door to crooks and scammers stealing in game items (which are less protected than crypto) & cashing out via crypto -- basically money laundering.

What might really be cool is if a big name game like "starcraft 3" had micro transactions and all of it was in crypto. That way it would force people to use crypto (which could be much easier and more intuitive than using fiat).

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September 22, 2017, 11:05:01 PM
 #4

Interesting post OP. I support what you're saying 100%.

One thing to mention, if it becomes possible to sell in game items through a 3rd party, second hand, market via crypto. While that would be great(!) selling prices would likely be much lower than buying prices similar to how baseball card shops and collectible outlet operate.

If someone owns a baseball card worth $100 they might only get $50 for it if they try to sell it to a shop that deals in collectibles. The same principle could apply to a 3rd party that buys in game items. The only way they could turn a profit is to buy at a lower price than they sell.

It could also open the door to crooks and scammers stealing in game items (which are less protected than crypto) & cashing out via crypto -- basically money laundering.

What might really be cool is if a big name game like "starcraft 3" had micro transactions and all of it was in crypto. That way it would force people to use crypto (which could be much easier and more intuitive than using fiat).

The concept is smart. The potential for a huge monopoly being formed with the first big crypto-gaming token is something gaming companies should soon realize, if they haven't already. Such tokens geared towards giving players a way to not only transact with, but could also serve as a type of investment vehicle for those wishing to support such a system. Digital assets holding value as a commodity, assets that were previously either impossible or far to difficult to sell, suddenly would have a very real, measurable and liquid value.

This will not be ignored by the big boys.

A new kind of collectible... The KryptoKaps are coming... Pre-orders have shipped! Thanks everyone!
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September 22, 2017, 11:10:59 PM
 #5

Interesting post OP. I support what you're saying 100%.

One thing to mention, if it becomes possible to sell in game items through a 3rd party, second hand, market via crypto. While that would be great(!) selling prices would likely be much lower than buying prices similar to how baseball card shops and collectible outlet operate.

If someone owns a baseball card worth $100 they might only get $50 for it if they try to sell it to a shop that deals in collectibles. The same principle could apply to a 3rd party that buys in game items. The only way they could turn a profit is to buy at a lower price than they sell.

It could also open the door to crooks and scammers stealing in game items (which are less protected than crypto) & cashing out via crypto -- basically money laundering.

What might really be cool is if a big name game like "starcraft 3" had micro transactions and all of it was in crypto. That way it would force people to use crypto (which could be much easier and more intuitive than using fiat).

The concept is smart. The potential for a huge monopoly being formed with the first big crypto-gaming token is something gaming companies should soon realize, if they haven't already. Such tokens geared towards giving players a way to not only transact with, but could also serve as a type of investment vehicle for those wishing to support such a system. Digital assets holding value as a commodity, assets that were previously either impossible or far to difficult to sell, suddenly would have a very real, measurable and liquid value.

This will not be ignored by the big boys.

I think it's pretty sad that Steam has such a big opportunity here but their marketplace is killed with the fees. Furthermore, there's no way to get the money from Steam balance over to actual cash. These up and coming altcoins will definitely be big competitors for the Steam marketplace. It's possible that an altcoin could be integrated into the marketplace, but I don't know if Steam is ready to give up their nice % returns off trades. The push towards the gaming industry is not something that should be ignored at all.

This area is up for grabs! PM me if you're interested.
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September 22, 2017, 11:17:03 PM
 #6

GAming audience is really huge so I agree that crypto gaming is really the next big thing.  We already have lots of Casino gambling that utilize Bitcoin, and too few for those mmorpg and other game category that make use of Bitcoin. If Bitcoin tapped these categories, I am sure this will be a great hype for the coin.
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September 22, 2017, 11:27:40 PM
 #7

And there are some coins that being developed which mainly focused on gaming activities, as an alternative payment in game shop.
After gambling using bitcoin become less popular today imo, then there's crypto-gaming which may offer another way to purchase anything in game easier than before. I find it complicated try to purchase some stuff in game especially in smartphone games, I mean; don't want to spend fiat currency through banks cards, and this may a breakthrough if the developers of crypto-gaming could make it happen.
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September 22, 2017, 11:29:17 PM
 #8

GAming audience is really huge so I agree that crypto gaming is really the next big thing.  We already have lots of Casino gambling that utilize Bitcoin, and too few for those mmorpg and other game category that make use of Bitcoin. If Bitcoin tapped these categories, I am sure this will be a great hype for the coin.

Gaming crypto quite popular now ,especially today that are plenty of ICO related in gaming and there are plenty of options to buy accessories.

 
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September 22, 2017, 11:31:14 PM
 #9

I am so excited when crypto currency combine with game,the people from game industry should proposed this long time ago, and I agree that there million to billion money that flow every month spend by the gamers and some of the player is underage so they cant used the fiat, with crypto currency it will be a great solution to it
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September 22, 2017, 11:44:53 PM
 #10

This idea could work on Steam platform, they just need to continue updating their services to bring more confort and accessibility to their users. They already did it once by start accepting Bitcoin as payment method, who knows what comes next... I like Steam because they hear the community and are open to new technologies and ideas.

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September 22, 2017, 11:58:03 PM
Last edit: September 23, 2017, 12:09:26 AM by tweetbit
 #11

I am so excited when crypto currency combine with game,the people from game industry should proposed this long time ago, and I agree that there million to billion money that flow every month spend by the gamers and some of the player is underage so they cant used the fiat, with crypto currency it will be a great solution to it

That would be great combination and I feel as excited as you, been busy this past days of many bad news but this is the only topic that makes me positive about. I heard that a ICO is developing such platform toward gaming but I don't have update about it. Many bitcoin users are much into online games also if only one proposed to make it happened it would be a great addition in gaming industry.

HODL
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September 25, 2017, 10:44:32 AM
 #12

That's really the only thing I don't like with games, anything you spend your money on would eventually become useless. If you ponder deep enough about it, it'll give you and existential crisis.   Grin

I still wonder how it'll allow the value to be kept though. Say I bought a few wheat from a farming game and that is discontinued. Are you saying I SHOULD be able to take that value and send it to a shooting game?

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September 25, 2017, 11:00:38 AM
 #13

This is a very interesting concept but I feel quite difficult to implement. It would have to have the support of many of the different games producers to work as I don't see it working simply P2P.

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September 25, 2017, 11:32:43 AM
 #14

GAming audience is really huge so I agree that crypto gaming is really the next big thing.  We already have lots of Casino gambling that utilize Bitcoin, and too few for those mmorpg and other game category that make use of Bitcoin. If Bitcoin tapped these categories, I am sure this will be a great hype for the coin.

Gaming crypto quite popular now ,especially today that are plenty of ICO related in gaming and there are plenty of options to buy accessories.


                        Its maybe because once crypto has been launched it will greatly affect the economic state and everyone in the economy, so much more likely gaming related crypto will be launched someday, and could even up to this day there are already so many project plans made for someday it will be released.

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September 25, 2017, 11:41:37 AM
 #15

You are right op, gaming is a billion dollar business. That is why I think there are already projects venturing into gaming and blockchain. Hash rush and Lordmancer are games that will have their tokens in eth blockchain, but it is not like your idea. Someone will surely go into that someday.
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September 25, 2017, 12:31:25 PM
 #16

You are right op, gaming is a billion dollar business. That is why I think there are already projects venturing into gaming and blockchain. Hash rush and Lordmancer are games that will have their tokens in eth blockchain, but it is not like your idea. Someone will surely go into that someday.

I believe the only blockchain fit for this industry is Ethereum. However, eth is still young and a lot of missing features are still under development.

The structure of the Ethereum blockchain is similar to Bitcoin’s, in that it shares the record of an entire transaction history, but what makes Ethereum different from Bitcoin is different is that it features additional applications, such as “smart contracts” and “crowdfunding.”

Ethereum takes a fresh new look at blockchain technology by taking the fundamentals of cryptocurrency, and expanding that thinking and applying it to a larger scale. With the technology so young, we’re just now fully understanding the potential and realizing what applications could be created in the future. Yet, Ethereum shows great potential to decentralize many of the world’s day-to-day operations through a technology that is vastly different from what’s been used in the past.
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September 25, 2017, 07:16:01 PM
 #17

Crypto-gaming has a huge potential, for sure.

And with Ethereum it is possible to create games rewarded with ethers or tokens.
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September 25, 2017, 08:53:23 PM
 #18

You should check out enjincoin and their thread here on the forums. It is very similar to everything you outlined here. However, they moreso focused on the marketplace sense of gaming rather than the longevity of in game currency. I think the gaming industry is a boom waiting to happen for an altcoin.

Hey, we already know about enjincoin! And we also agree with your thoughts, gaming has a huge potential for altcoins.

Interesting post OP. I support what you're saying 100%.

One thing to mention, if it becomes possible to sell in game items through a 3rd party, second hand, market via crypto. While that would be great(!) selling prices would likely be much lower than buying prices similar to how baseball card shops and collectible outlet operate.

If someone owns a baseball card worth $100 they might only get $50 for it if they try to sell it to a shop that deals in collectibles. The same principle could apply to a 3rd party that buys in game items. The only way they could turn a profit is to buy at a lower price than they sell.

It could also open the door to crooks and scammers stealing in game items (which are less protected than crypto) & cashing out via crypto -- basically money laundering.

What might really be cool is if a big name game like "starcraft 3" had micro transactions and all of it was in crypto. That way it would force people to use crypto (which could be much easier and more intuitive than using fiat).

About the microtransactions on big name games: it's just a matter of time, it's bound to happen.

The concept is smart. The potential for a huge monopoly being formed with the first big crypto-gaming token is something gaming companies should soon realize, if they haven't already. Such tokens geared towards giving players a way to not only transact with, but could also serve as a type of investment vehicle for those wishing to support such a system. Digital assets holding value as a commodity, assets that were previously either impossible or far to difficult to sell, suddenly would have a very real, measurable and liquid value.

This will not be ignored by the big boys.

I think they've already realized, but since they're all big companies they wouldn't go on and do something that's not fully regulated or on the grey area legally speaking.

I think it's pretty sad that Steam has such a big opportunity here but their marketplace is killed with the fees. Furthermore, there's no way to get the money from Steam balance over to actual cash. These up and coming altcoins will definitely be big competitors for the Steam marketplace. It's possible that an altcoin could be integrated into the marketplace, but I don't know if Steam is ready to give up their nice % returns off trades. The push towards the gaming industry is not something that should be ignored at all.

I don't see Steam opening up their marketplace to the world of altcoins anytime soon, they have it all for themselves now

That's really the only thing I don't like with games, anything you spend your money on would eventually become useless. If you ponder deep enough about it, it'll give you and existential crisis.   Grin

I still wonder how it'll allow the value to be kept though. Say I bought a few wheat from a farming game and that is discontinued. Are you saying I SHOULD be able to take that value and send it to a shooting game?

In the world of crypto, that's not an issue because you can always exchange your assets for the currency of your choosing. For example, in our case, you could sell your game-assets for Ethereum and so on. If you'd like to learn more about this we encourage you to check out our homepage at https://e11.io

This is a very interesting concept but I feel quite difficult to implement. It would have to have the support of many of the different games producers to work as I don't see it working simply P2P.

We believe new industry leaders will rise or at least the boutique ones will be able to have a large market chunk.

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September 26, 2017, 06:19:17 AM
 #19

I got a question here and I hope it would be answered even its short

How do you guys send Bitcoins to the game and get it back? I hope someone is nice and kind to explain it to me

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September 26, 2017, 10:50:29 AM
 #20

Many bitcoin users are much addict into online games and gambling they can have big profit for this kind of games like to learn more about this, you can go to gambling forum.
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September 26, 2017, 11:04:21 AM
 #21

I really hope a big gaming company like blizzard would use crypto-currencies as their in game currency in the future, if Blizzard would use crypto-currencies instead of gold for one of their famous game Diablo, I believe there will be a lot more players playing it as there is a potential to earn some money while enjoying the game with friends.

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September 26, 2017, 06:14:47 PM
 #22

I really hope a big gaming company like blizzard would use crypto-currencies as their in game currency in the future, if Blizzard would use crypto-currencies instead of gold for one of their famous game Diablo, I believe there will be a lot more players playing it as there is a potential to earn some money while enjoying the game with friends.

Yes, if a big name company starts adapting altcoins as a currency it will surely blow up. We believe those big name companies are waiting for altcoins to be regulated properly so they don't get into any shady stuff. Also, not too many people know about or are comfortable enough with crypto to make companies adapt it.
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September 26, 2017, 06:45:44 PM
 #23

This is a very interesting concept but I feel quite difficult to implement. It would have to have the support of many of the different games producers to work as I don't see it working simply P2P.
I don't think it's that difficult to implement actually, the main problem with this is that developers have no reason to implement something like this.
Now they have control over their in-game economy, if they use crypto-currency as in-game currency then they would lose all their control over it.

Game publishers can now charge whatever they want for their tokens, but once you open up that market, they lose control.

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September 26, 2017, 10:39:25 PM
 #24

the presence of bitcoin makes more and more game developers create unique ideas, I'm sure one day games will continue to grow and use bitcoin for credit. I know Crypto-gaming and I think it's great.


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September 26, 2017, 11:26:58 PM
 #25

Many bitcoin users are much addict into online games and gambling they can have big profit for this kind of games like to learn more about this, you can go to gambling forum.

I agree, I think this would motivate the bitcoin users more. They can have fun and play and at the same time, they would profit from it. I've heard about steam before, that you can buy steam credits with the use of bitcoin but I haven't heard of the perspective of OP. It's a smart concept and these gaming industries will profit a lot. In a way, it's a win-win situation for the users and the gaming industry.
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September 27, 2017, 04:55:36 PM
 #26

In a way, it's a win-win situation for the users and the gaming industry.

Yes, we believe it is, but as eternalgloom says, there are several obstacles that prevent altcoins from taking the spotlight on a gaming market. Partly because game companies could lose control over their market.
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September 27, 2017, 05:09:47 PM
 #27

I really hope a big gaming company like blizzard would use crypto-currencies as their in game currency in the future, if Blizzard would use crypto-currencies instead of gold for one of their famous game Diablo, I believe there will be a lot more players playing it as there is a potential to earn some money while enjoying the game with friends.

This is a really bad idea, people should stop trying to apply Bitcoin and blockchain to literally everything and instead ask the questions "does it solve any problems?" and "how does it compare with other solutions?". So, lets imagine WoW or Diablo switched their gold to Bitcoin. First, from where it would come? Does that mean that Blizzard now have to reward each player for every killed mob with some dust amount of BTC? If so, they would quickly go bankrupt as they would just be giving money away instead of making them. Second, why should they put their in-game economy on the blockchain, if it doesn't give any benefits to anyone - players would have to face transaction fees and delays, and the company would lose their ability to control the market and punish scammers and cheaters.

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September 27, 2017, 05:25:28 PM
 #28

Yes that crpto gaming is already exists nowadays . Maybe they consider it as a gambling but mixing with enjoyment.instead of they gamble in any gambling site which is to risk .. will that is a good idea for me instead of playing online games without income much better to have a price for the winner of the game which is bitcoin or an currency. The big question is are you sure that your opponent really paying for the game?haha idont think so. Much better if crypto gaming also accept some escrow so no worrying about the price.

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September 28, 2017, 01:54:32 AM
 #29

well guys, one company is literally trying to get the entire industry (if possible) to adopt crypto. Enjin Coin Smiley technically the name of the company is Enjin. Not only that but it would be properly decentralized and flip the script from the developers and platforms controlling access to data and stuff that players should actually truly own to the same games pointing at player ownership records on the blockchain instead. 

you can learn more about them here but here's a nice intro article about them. https://medium.com/@enjin/introduction-to-enjin-part-1-of-5-f5d90676b948

Full disclosure, Ive thrown in to write some articles for them and more are coming including an interesting one that compares philosophical similarities between f2p games and blockchain itself i.e. with blockchain, the users are also the infrastructure whereas with f2p, the players are also often each others content. You guys would probably enjoy that. since it would really emphasize how much gaming fits with blockchain
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January 31, 2018, 02:17:32 PM
 #30

I also believe that Crypto Gaming will be big. I have been following a number of projects as well.

My favourite is:
Nova Blitz

Nova blitz is a trading card game focussed on many problems facing the digital trading card game sector today.

www.novablitz.com
https://t.me/novablitzofficial

Some other projects I am following:
CryCash (https://crycash.io/)

Deeptoken (http://deeptoken.info/)

The Abyss Coin (https://www.theabyss.com/)

Ethercraft (https://ethercraft.io/)

Blockquests (https://www.blockquests.com/)
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January 31, 2018, 02:40:54 PM
 #31

There are many industries the blockchain will disrupt, but there’s one that with the right crypto implementation will grow at an insane rate: games.
The gaming industry is worth around 100 billion dollars in 2017, and it will only keep growing. Millions of people around the world buy items, skins, in-game currencies, and other game assets, every single day.

Now, when these gamers are done with one particular game, all those assets they spent hundreds of dollars in, become nothing. They are now literally worth $0.00.

So let’s say someone could use some futuristic magical technology, *cough cough* the blockchain, to turn them into actual value, into something that they could own forever, trade, sell, or import into other games they want to play. It sounds obvious, as it should have been like this from the beginning and that means that, sooner or later, it will happen.

Want a sneak peak of the future of gaming? take a look at Steam where users can sell their game-assets to buy new ones from the same or a different game, or even buy a whole new game. The problem comes when users are done with the platform, they become hostages because their assets aren’t really theirs, they can’t cash out.


Even though this is a flaw, the gaming marketplace model is proved to work and is amazingly successful — there are millions of users already used to managing currencies with a specific purpose.

In the specific case of Experimental, users will be able to play with their e11, and whenever they win a battle, they can literally cash out to Ethereum, and then if wanted, to USD.

Companies that give true ownership to their users will lead the gaming revolution to come. It might seem that this is only a benefit for the users but truly it’s not. There are hundreds if not thousands of opportunities for the current market leaders to own the new economy — but the same rules apply for boutique game studios, and democratization is not always well received when you’ve built a $3billion gaming empire based on antique rules.

This analysis could be done for almost any industry and the result will be the same: Fortune1000 companies will have to adapt if they want to survive.
The blockchain brings with it a set of values that will have to be adopted by all of us, decentralization, democratization, and fairness. When will it show results? that burden relies on us.


As a gamer I also wanted to earn from my games and also the game must be cool, challenging and open for possibilities of improvement. If that would happen in a game and the game was on the blockchain then right there that game would be the best. Worse case scenarios are games would be made for business not for challenge or fun. That sense must be taken seriously coz the game must be a game first before adding some sorts of marketplace. Running into the blockchain makes a game more secure but I hope the developers would create their own blockchain and not on ethereuum coz it would clog the network. Best idea that needs to be developed.
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February 20, 2018, 05:38:37 AM
 #32

There are crypto gaming already implemented that involve bitcoin as a form of payment. These apps are sometimes faucet to get free bitcoin. And it is only a matter of time that there will be a crypto game that makes its way to popularity. For now, some members here in bitcoin forum are only aiming for bitcoin as investment. If these crypto game will be introduce to all members here then there is a possibility that bitcoin will be the top crypto gaming in the world. All gamers will be unified and this game will be centralized and there will be millions of members will join and the prices will be bigger and higher.

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