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Author Topic: Can Blockchain Gaming Drive Cryptocurrency Adoption?  (Read 516 times)
deisik
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September 26, 2020, 01:14:55 PM
Last edit: September 26, 2020, 08:13:23 PM by deisik
Merited by amishmanish (2), tyKiwanuka (1)
 #1

For your reading pleasure, I'm sharing my article about crypto gaming, originally published on Stealthex.io. And it mentions Bitcointalk.org!

Warning! A longread below!*
*But short version is available too


Can Blockchain Gaming Drive Cryptocurrency Adoption? (Short version)

For the blockchain gaming to drive cryptocurrency adoption, we essentially need the combination of two things. The first condition is that the blockchain tech must be capable of running games similar to the multiplayer hits from studios like Blizzard, Valve, Ubisoft, and their caliber. And the second condition is that we actually need such games (after the first condition has been met)


Can Blockchain Gaming Drive Cryptocurrency Adoption? (Long version*)
*You've been warned

The gaming industry, with its approximately 2.5 billion gamers worldwide, is a lucrative target and an immense field of application for blockchain itself, Bitcoin and other cryptocurrencies that could no doubt give a mighty push toward taking and making the technology mainstream. Honestly, this is not quite a news as the efforts to establish cryptocurrencies in the entertainment sector have gone a long way, with varying degrees of success.

What they were, how it fared, and where things are going now – these questions deserve their own inquiry. So let’s take a look at how gaming facilitates cryptocurrency adoption, in what ways, and whether exposing the blockchain tech to a user base of a third of the world’s population would help oil the wheels of this sportster in a major way and ultimately cause a tectonic shift in the gaming industry itself.

A Little Bit of History

As Bitcoin kicked off in late 2008, with its first transaction hitting, or effectively starting, the blockchain in early January of 2009, it had taken well over two years till the cryptocurrency got involved in online gambling. It was the now-defunct mobile poker platform, Switchpoker, a developer of an online poker room that started to accept Bitcoin as a deposit and payment option. You can still find a topic on Bitcointalk.org about this news dated back to November 23, 2011.

In April 2012, Erik Voorhees, an American entrepreneur and early Bitcoin adopter, founded Satoshi Dice, arguably the oldest online cryptocasino on the block, which is still pretty much alive today, although Voorhees sold it in a year. What makes it truly intriguing is the fact that during its early years the casino was generating half of all the transactions on the Bitcoin network. In short, online gambling was critically important in Bitcoin’s infancy years as it helped promote cryptocurrency awareness that led to future growth and expansion into other areas.

Some folks are certainly going to argue that gambling is not the same thing as gaming. The commonly accepted view is that gaming is based on skill while gambling on chance. We won’t debate over this point. However, as every poker player knows, the outcome of a poker game depends not only on luck, but also on skill and expertise. Put simply, there are large gray areas and overlaps. All things considered, our exposition would be missing a big chunk of significant history without giving due credit to gambling and how it helped Bitcoin adoption.

Now that online gambling is off our chest, we can safely turn to gaming as it is understood in the industry, and look at how it helped the blockchain space. One of the first uses of Bitcoin in a major game that we are aware of started in 2014 with the launch of BitQuest, a Minecraft server that used Bitcoin for in-game transactions. Within the gaming environment you could buy valuable in-game stuff from other users with the so-called bits, small fractions of a Bitcoin, and earn them by completing in-game tasks or challenges like killing local monsters.

BitQuest closed the server in summer of 2019, and its brand name now belongs to a different entity not involved with gaming, but it still produced an impact. In essence, this effort successfully demonstrated how a cryptocurrency, in this case Bitcoin, can be used in lieu of a native in-game currency that players can earn, buy and spend as well as withdraw. This has serious implications for two main reasons. First, Bitcoin, unlike any other purely in-game currency, has uses outside the game and its ecosystem, and, second, its supply cannot be manipulated by the game developers, which makes the game by far more fair and square.

Needless to say, the example that BitQuest had set encouraged other market participants to look into Bitcoin as an alternative option for in-game currencies. Another popular Minecraft server, PlayMC, also introduced Bitcoin into its world in 2015, but ceased the operation just two years later. There were a few other servers experimenting with altcoins, more specifically, Dogecoin, but most of them disappeared from the scene shortly thereafter, failing to attract enough die-hard Minecraft fans.

What Has Changed?

With the arrival of smart contract-enabled blockchains such as Ethereum, EOS and TRON, the phrase “blockchain gaming” has taken on a more literal meaning as these blockchains allow games to be designed and played entirely on-chain in much the same manner trades are made on a decentralized exchange. While TRON stands for “The Real-time Operating system Nucleus”, there is an obvious reference to a once popular arcade game based on a titular 1982 science fiction film that ultimately garnered a cult following.

CryptoKitties is likely the most popular game ever released in the Ethereum ecosystem and probably in the whole crypto space so far. Its test version was made available on October 19, 2017, and it was an instant success. By the end of 2017 over 200,000 people signed up for the game, spending over $20 million in Ether. We won’t delve into its “gameplay” as it is beyond the scope of this article, and most certainly you are well familiar with it anyway. But what we absolutely should write about is the effect it made and the repercussions it produced.

It could be said that CryptoKitties was to the Ethereum blockchain what Satoshi Dice had been to Bitcoin in the early days of crypto. At the peak of its popularity the game reportedly accounted for 20-25% of all Ethereum’s traffic that clogged the entire Ethereum network, with transaction fees skyrocketing. No wonder lots of people got pissed off with this turn of events. However, despite all the rage and fury, CryptoKitties amply demonstrated what a success means in the blockchain gaming field, how it looks and feels in practice.

It is hard to estimate how much CryptoKitties contributed to cryptocurrency adoption. But given that a few hundred thousand people got involved in this game alone and many more with dozens of blockchain games that it has spawned, like Etherbots, Gods Unchained, The Six Dragons, etc, this indisputable triumph surely counts as a massive contribution by any metric or definition. Moreover, it also revealed the weaknesses of the contemporary blockchain solutions and what exactly should be done to overcome them.

Evolution never goes linearly. In fact, it generally doesn’t go in curves, circles, or zig zags, either. It always moves along very diverse routes, directions and entire dimensions like plants and animals, viruses and bacteria, and, well, dinosaurs and mammals. The evolution of gaming in crypto space is no different. CryptoKitties and other games share essentially the same tech under the hood – building games on some advanced general-purpose blockchain such as Ethereum. But it is not the only front that crypto gaming has been advancing on, nor is it the only way to introduce gaming to cryptocurrencies, and vice versa.

A more recent approach is based on designing either a standalone cryptocurrency or a token on a smart contract-enabled blockchain to be used across many games that support it as an in-game currency. As a result, gamers can enjoy true ownership of their in-game assets (the so-called non-fungible tokens, or NFTs), safe item trading outside the game, and cross-game compatibility. This path has been taken by such projects as Enjin, GAME Credits, Decentraland and others, with their respective cryptocurrencies fueling a range of games.

A somewhat different avenue is taken by Funfair and Lucid Sight, which are offering platforms that blockchain games can be built on. Thus, Lucid Sight’s Scarcity Engine is focused more on game creators than end users, that is to say, gamers, allowing developers to integrate blockchain into their games. It aims to obliterate the difference between blockchain-based games and traditional gaming platforms. Funfair, on the other hand, leans more toward creating custom-built blockchain casinos, with its FUN token as a casino “chip”. So much for no more gambling, huh.

Our account of events would be incomplete if we didn’t mention yet another attempt to make use of Minecraft for the purpose of introducing cryptocurrencies to the gaming public. This time, a new Minecraft mod called SatoshiQuest has emerged. To participate in it, the gamers pay $1 in Bitcoin and get one in-game life. The pooled coins make up the loot, and the challenge is to find a minimum of 400 key fragments into which the keys to the Bitcoin wallet containing the prize are divided. And who said that evolution doesn’t loop?

Challenges and Future Prospects

The knockout popularity of CryptoKitties has clearly shown the scale of cryptocurrency mass adoption that blockchain gaming can trigger. As the game developers themselves put it, their “goal is to drive mainstream adoption of blockchain technology”. They believe that “the technology has immense benefits for consumers, but for those benefits to be realized, it needs to be experienced to be understood”. Speaking more broadly, as more people start using cryptocurrencies for gaming, they may eventually become interested in using their coins for purposes other than playing one game or another.

With that said, it is now as clear that there are two main barriers on the way there. The first is the limitations of the blockchain tech itself that essentially limits blockchain gaming to NFTs, in-game currencies, streamlined payments, and similar stuff. This is mostly a technical challenge anyway, and we could realistically expect it to be solved sooner or later. The other issue is applicable to the gaming industry as a whole. People en masse would only play games that are truly engaging and immersive, technical issues aside.

So the bottom line is that we need the convergence of these two vectors to make blockchain a dominating force in the gaming industry. First, the blockchain tech should have the capacity for running multiplayer games that major video game developers like Blizzard, Valve and Ubisoft produce, no trade-offs here. Then, we actually need the games like Warcraft, Counter-Strike or Far Cry that can be played on blockchain, to make it matter. Only after we get there, the gaming industry will likely become a primary driver behind cryptocurrency adoption.

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September 26, 2020, 01:30:14 PM
 #2

The article is quite big , I believe you should more or so share the most important points that you believe are interesting so that it would be actually Read by the people.

Gamers are the kind of people are are always willing to try new things and thus it's good when it comes to the adoption of cryptocurrencies , My first transaction in terms of Bitcoins was to a person who needed them for cryptocurrencies.

Therefore I do believe gaming Industry would help , not only the cryptocurrencies but also the industry itself since the people who are involved in cryptocurrencies would be willing to try new things this way. It's more like a two way street.

Both the gaming Industry and the cryptocurrencies would be benefited this way and people would have more to choose from.

.
.Duelbits.
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September 26, 2020, 02:00:48 PM
 #3

~

I know that you are aware that long posts that are often seems to be like a collegiate context were always not fully read by other users right? And you also knew that it was from an article, sharing the important points with your personal thoughts and ideas are much better than just copy pasting it. Enough said, it is really a good point that gaming industry and its vast popularity to the current situation and innovating technology would really drives the popularity of crypto and blockchain as well. But still, many are already adopted blockchain technologies and even tried to use it in games but failed to gain popularity.

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September 26, 2020, 02:35:21 PM
 #4

Both above me are right.
It's somehow boring to read that kind of long text, especially in this forum.
Most users will just answer what is asked in the title.

I haven't tried the example named above which is cryptokitties but I heard a lot about it when it was hyped.
I am a gamer even before, wasting a lot of money with MMORPG's that needs top-up cards just to log in every month.
Yes, gaming could be the answer, a part of it.

Thank you, Yolodice for the great 4 years.
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September 26, 2020, 03:24:46 PM
 #5

But seriously, why would anyone want to read a boring article and then come to complain about that? To me, it doesn't make a lot of sense

And while we are at it, does gambling (e.g. dice) count as gaming in the context of cryptocurrency adoption?

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September 26, 2020, 04:03:21 PM
Merited by deisik (2)
 #6

I am kind of interested in seeing how exactly the blockchain gaming paradigm plays out. The only time I ever tried EOS was to play a game called EOS Knights on their platform. It is a horribly designed game that had thousands of users at its peak and it sold in-game items for a lot of money. I guess it is still going on but i have left it a long while back. Like everything else with EOS, this game too was a money grab for the devs. Every transaction in the game was an action on the EOS blockchain and it was slow as hell. Lastly, the game itself didn't have much to do.

My other experience with blockchain gaming is with a few games developed on the Enjin platform. The gaming devs that Enjin attracted have some promising games like the PVP game 9Lives Arena. The Six dragons that the article talks about is also probably an RPG on the same platform. The platform is Ethereum based and suffers from slow transactions and high gas fees.

The biggest problem with these games being adopted is that they are not attracting real gamers or even serious game developers. This is because most people are just interested in making a killing by hoarding all the NFTs and hoping to sell them for a fortune in some hypothetical future when blockchain gaming would become the norm and their NFTs would be treated as antiques. Its a classic case of counting your chickens before they hatch. Both the developers as well as the community suffers from this.

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September 26, 2020, 04:44:17 PM
 #7

The biggest problem with these games being adopted is that they are not attracting real gamers or even serious game developers. This is because most people are just interested in making a killing by hoarding all the NFTs and hoping to sell them for a fortune in some hypothetical future when blockchain gaming would become the norm and their NFTs would be treated as antiques. Its a classic case of counting your chickens before they hatch. Both the developers as well as the community suffers from this

So far NFTs (of CryptoKitties' fame) seem to be the best that blockchain gaming can come up with

I agree that it is a sort of chicken-and-egg problem. However, I'm more optimistic, and the reason for my optimism is simple. Blockchain gaming is basically a side effect to blockchain use for cryptocurrencies. In other words, no matter how chicken-and-egg the problem of the game developers versus the community is, the tech will continue to evolve for other purposes, more original ones (read, financial ones). And once it is good enough for the tasks outlined in the article, this problem should go away on its own

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September 26, 2020, 05:18:08 PM
 #8

So far NFTs (of CryptoKitties' fame) seem to be the best that blockchain gaming can come up with

I agree that it is a sort of chicken-and-egg problem. However, I'm more optimistic, and the reason for my optimism is simple. Blockchain gaming is basically a side effect to blockchain use for cryptocurrencies. In other words, no matter how chicken-and-egg the problem of the game developers versus the community is, the tech will continue to evolve for other purposes, more original ones (read, financial ones). And once it is good enough for the tasks outlined in the article, this problem should go away on its own
I haven't played cryptokitties but from the looks of it, i know that it is a random game of chance where you cannot really feel like a real PC gamer. There are a lot of other games. On Enjin, there is Forgotten Artifacts which is a dungeon crawler where you can actually use items dropped in other games as items inside this game. You can earn in-game items and see them as actual NFTs in your wallet. In that way, there are quite a lot of concepts that blockchain gaming has come up with.

After Enjin, I kind of lost interest in the gaming paradigm as there weren't many good or novel things on offer but just more of the same community rush to grab the best loot drops in the beginning. I would explore some of these other platforms mentioned in that article to see how far it has gone. Do share your own experience with blockchain games deisik. Its a topic i am interested in and would like a tip or two if you have found something exciting.

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September 26, 2020, 05:32:10 PM
 #9

After Enjin, I kind of lost interest in the gaming paradigm as there weren't many good or novel things on offer but just more of the same community rush to grab the best loot drops in the beginning. I would explore some of these other platforms mentioned in that article to see how far it has gone. Do share your own experience with blockchain games deisik. Its a topic i am interested in and would like a tip or two if you have found something exciting

Well, I'm in fact more of a gambler type

But I can relate to the fact that blockchain games, especially the ones involving some kind of team action (think Counter-Strike here) are terribly slow. I've been trying to gamble on-chain (just dipping my toes into gaming on-chain), and it was also excruciatingly slow. I'm an algorithmic guy and obviously look for things like autobet. But it is not really possible with on-chain gambling unless you are happy with making a couple bets a minute. In this way, autobet in blockchain casinos can be used as a yardstick for measuring the currently available potential in on-chain gaming at large

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September 26, 2020, 11:52:21 PM
 #10

So the bottom line is that we need the convergence of these two vectors to make blockchain a dominating force in the gaming industry. First, the blockchain tech should have the capacity for running multiplayer games that major video game developers like Blizzard, Valve and Ubisoft produce, no trade-offs here. Then, we actually need the games like Warcraft, Counter-Strike or Far Cry that can be played on blockchain, to make it matter. Only after we get there, the gaming industry will likely become a primary driver behind cryptocurrency adoption.

Although its not impossible to integrate game engines and blockchain tech altogether, the technical difficulty is very high because MMORPG's is a real time event based system that it cannot wait several confirmations for a transaction / event to be successful.

I only see it is more likely that these game developers would most probably adopt cryptocurrencies as in-game currencies, subscription payment, etc... Imho.
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September 27, 2020, 03:13:10 AM
 #11

Gamers never asked for the features that blockchain provides - immutability, "truly owning your assets", even p2p trading is highly controversial - Diablo 3 originally came with real-money market, which was shut down after a year due to a negative feedback from the community. To me it looks like blockchain companies are very desperately trying to find use for their revolutionary technology and failing miserably. All what gamers want is for games to be fun, update content frequently, be priced fairly, run smooth and have less bugs. Blockchain isn't helping with anything of that.

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September 27, 2020, 10:37:53 AM
Last edit: September 27, 2020, 04:09:26 PM by deisik
 #12

To me it looks like blockchain companies are very desperately trying to find use for their revolutionary technology and failing miserably

This is a general rule applicable to any area. In most cases, you can't know in advance whether some product or service will be a wild success or a monumental failure. And you won't know until you actually offer it to the public

All what gamers want is for games to be fun, update content frequently, be priced fairly, run smooth and have less bugs. Blockchain isn't helping with anything of that

That's the most important thing after blockchain is technically capable of supporting such games. It already is, to a certain extent, as you can't throw out the window the popularity of CryptoKitties, however short lived it had been. But it is probably not the kind of game that the majority of gamers are looking for. With that I agree

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September 27, 2020, 03:03:19 PM
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 #13

~snip~

It was a nice read! Well-written article. However, the main reason for the success of CryptoKitties was the monetary value associated with the in-game assets. It was similar to buying a new altcoin which gained huge pump recently. Remove blockchain assets from the game and you get an average Android-like game played by 8 years old kids. This sums up pretty everything. Blockchain can only be used in gaming industry in two ways - either for creating or storing in-game assets on blockchain using Smart Contracts or for in-game P2P trades between players.

I really can't see what Blockchain could add in multiplayer games that major video game developers like Blizzard, Valve and Ubisoft produce. Blockchain is all about storing immutable data in decentralized databases while multiplayer gaming is all about fast transmission of data between different peers. Blockchain is slow database while multiplayer gaming is all about speed.

However, I really believe blockchain still has very big role to play in gambling industry. We are going to see new blockchain based superior gambling dApps in coming years which will disrupt crypto gambling completely by removing trust factor.

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September 27, 2020, 03:45:09 PM
 #14

Can it? Of course it can, it has that potential, we are talking about millions even billions of dollars plus most of the time when people get into something they hardly get out and since this is a financial game sort of thing, they keep spending money on it constantly as well. However remember that we are much bigger than any one sector, we are money by logic, bitcoin is a money just like dollar or euro or any other fiat, we are a currency but our difference is we are a digital crypto version of that old type.

So, bitcoin could be the whole gaming world and there would never be a single game that has fiat micro-transactions, all could be done in bitcoin and we still need more. We know it can never be like that, but we all know that even if we go super high in gaming adoption, we still need more for global one.

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September 27, 2020, 05:37:34 PM
 #15

Absolutely yes! Blockchain games are on the rise, and it's just needs massive adoption in the world of video and online gaming. It's all about creating awareness and educating them about the advantages of blockchain gaming and why should they take this seriously.

I'm a hardcore gamer since I was a kid. Been playing video games during my spare time until today. I'm so enlightened about the potentials of blockchain gaming (especially those who are already making a living in playing them).


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September 27, 2020, 06:43:19 PM
 #16

as you can't throw out the window the popularity of CryptoKitties, however short lived it had been.

Yes you can, it was only popular because you could try to make money with breeding kitties. Very few people cared about it as a game, which means that this model wasn't sustainable and it was just a speculative bubble.

However, I really believe blockchain still has very big role to play in gambling industry. We are going to see new blockchain based superior gambling dApps in coming years which will disrupt crypto gambling completely by removing trust factor.

It won't really disrupt centralized gambling until full scalability is achieved. You can place hundreds of bets per second (and some people use it with official bots), without paying any fees in centralized gambling. And thanks to the provably fair system, exit scam is the only risk, which is pretty rare in crypto gambling.

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September 27, 2020, 07:40:37 PM
 #17


I'm a hardcore gamer since I was a kid. Been playing video games during my spare time until today. I'm so enlightened about the potentials of blockchain gaming (especially those who are already making a living in playing them).

Lots of people are playing blockchain game too, this is the new set of games now. The digital space is being creative with blockchain game and this is going to help in the exposure of the kids into blockchain and knowledge in cryptocurrency.
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September 27, 2020, 09:07:23 PM
 #18

Valve, Ubisoft and those other developers are so big, without someone to lead this plan with the knowledge of the games and the gamers all at once will be hard. I am certain that blockchain has its place in the gaming industry but I guess the plan should be working with one of these developers. Blockchain technology might attract other people but it will not be enough.
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September 27, 2020, 09:22:13 PM
 #19

This was seriously a really very long thread to read on and others mind find it as well to be like that. May you at least shorten or make it simple into which ideas or informations you were trying to share with is for the simpler the better for it does not vary how short or long as long as the thought is in there.  Going back to the topic, I guess there could really a big impact blockchain gaming can do to achieve cryptocurrency adaption since a lot of gamers are sprouting into this generation which means as long as there are many gamers to play blockchain games like the usual and typical games, it can certainly lead to adaption for one of the influencers category are not just content/video creator but also gaming creator which is totally a good way to pack knowledge about crypto and at the same time provide gaming experience all together within blockchain games.





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September 27, 2020, 09:29:52 PM
 #20

Quote
by early 2020, the number of internet users in the world had reached 4.5 billion. Of all internet users aged 16-64 years, as many as 20 percent watch a live-stream from someone who plays the game. Meanwhile, about 80 percent of internet users between the ages of 16-64 play games every month. So, the number of gamers in the world reaches 3.5 billion people. Most (69 percent) of internet users admit they play games on mobile. While 41 percent play games on a laptop or desktop and 25 percent play games on consoles.

Based on the contents of the article above!! currently, the number of gamers around the world is fantastic, if all game developers adopt cryptocurrency then it can be sure that it will lead to mass adoption..

I hope this will pave the way for other gaming developers to follow this around the world;
Quote
Ultra is the first entertainment platform providing all key games industry services under a single roof, accessible through a single login. Built around our PC game distribution platform, Ultra Games, our platform will provide access to countless centralized and decentralized services: Discover, buy, play and sell your games and in-game items, watch live-streaming feeds, interact with your favorite influencers, participate in contests, compete in tournaments and much more.

Ultra has been built to extinguish the frontier between blockchain and mass market, between DAPPS and APPs, and between legacy items and NFTs.
source: https://finance.yahoo.com/news/atari-r-partners-ultra-add-132500624.html
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