Game on Blockchain - The Revolution of Dapps2020-09-16 09:22:53
The blockchains continue to transcend more and more aspects of everyday life. What started off as the P2P dream of a decentralized currency has become a household name and an ever-expanding way of thinking. One of the newest areas being explored with blockchain is online gaming. It seems like a perfect fit for gamers who have been at the forefront of technological advances and were among the first to notice the boom in the emerging cryptocurrency. In general, there appears to be some overlap between the esports and cryptocurrency communities.
The gaming world is evolving on decentralized platforms, with two main branches. Both are related to the esports world, or competitive gaming: an industry with revenues in excess of $ 600 million in 2017. The potential for blockchain in esports is enormous. From tournaments and team management to gambling and buying and selling in-game items, the two complement each other very well.
Blockchain game in the form of dApps.
Some projects focus on betting, transferring money, and allocating around esports while others develop games directly on the blockchain. Many of these games are in development as dApps or decentralized apps. They provide the same gaming experience as popular online multiplayer games while using technology to solve some of the more troublesome aspects that arise with a centralized organization. Once again, the integration of blockchain is a natural evolution for online games. There are also a number of interesting blockchain game projects with completely different goals. CryptoKitties is perhaps the most famous and among the first wave of blockchain games available, but there's more variety in terms of offer.
Esports and decentralized platforms.
On the other side of the spectrum are projects that focus on great demand for reliable esport betting platforms. Austria-based HERO is an exciting project with the primary goal of changing the world of online betting. In the past, betting made online always had someone in the middle of a bettor separate the odds. The original and inherent social personality of a bet is lost when it comes to online betting (Hero (Play) ICO Whitepaper, 2018). By providing a blockchain-based P2P network, HERO allows users to bet directly against each other and creates a unique online gambling ecosystem.
One major flaw in today's online betting world is the questionable nature of some vendors; Unscrupulous practices by some people have led to a general distrust in the community. Even if the provider is not an outright scammer, they often operate with high profit margins that make it impossible for users to bypass their services. Along with these problems, there is also a risk of unethical data use.
HERO uses ERC20 tokens on the Ethereum blockchain, creating a completely transparent network. Smart contracts allow users to manage competitions without any middleman. Although this project focuses on esports and gaming, it has far-reaching potential for any and all online gambling projects. Similar projects can leverage blockchain to create reliable betting networks for live professional sports.
Open world VR game.
Finally, a completely different project is in development that also uses the Ethereum blockchain. Decentraland is an immersive 3D world, owned and managed entirely by the user. Decentraland is similar to other open world games like Skyrim and Fallout. However, it uses VR technology to create a more unified feeling experience.
In Decentraland, players use MANA, the ERC20 token, to buy plots of land that they can then develop for any amount of use. All gambling games, apps and services can be created when the user owns a lot of land. User can also organize land areas according to the player's planning preferences. For example, there could be a dedicated gambling and gaming zone, with all the decisions made by land owners using Agora dApp voting.
By using the Ethereum blockchain, users can rest assured that all transactions will be stored on an immutable ledger, and no bad game will harm their assets. The security of transactions and developments within Decentraland is crucial when considering the potential to accumulate capital. Users can create monetized apps to generate income. Land is also limited, providing a trickle way to increase value through the forces that control the market under constant supply and demand. Currently, the cheapest plots of land are around 11,750 MANA (prices fluctuate) while the more popular regions can cost in the millions. The highest selling lot is 2,000,000 MANA, or $ 175,578, in March 2018. This is a sizable amount of money for a virtual lot and leaving the seller a good profit.
Decentraland is creating a new and unique VR landscape for users to meet, interact, play with, and have the ability to exchange goods and services. This project has the potential to revolutionize the open world experience and is a glimpse into the future of VR technology.
The blockchain game represents a match made in heaven. Gamers often adopt new and innovative technologies in front of members of a larger organization and an influential community. A few projects are simply a glimpse of the dynamic interaction between decentralized technology and the pioneers of the game world. As new insights become available, more projects will be developed that continue to push the boundaries of what can happen in this blockchain gaming space.