Blockchain Meets the Gaming Industry

Over the past year, we have witnessed a huge surge in the popularity of blockchain technology.

It has found its way into what feels like almost every nook and cranny of our society, and has already manage to revolutionize many of our everyday processes.

It’s no surprise that it’s making its way into one of the biggest industries in our society…the gaming industry.


The Boom in the Gaming Industry

As it stands, the gaming industry generates approximately $100 billion per year via microtransactions, game purchases, additional downloadable content, in-game advertising, and subscription services.

A whopping 80% of American households contain a device specifically to run video games, and more than 42% of Americans have stated that they spend at least three hours per week playing video games.

Opening the Door to Decentralized Gaming

The focus is on empowering both gamers and developers by removing middlemen and third parties from the process.

For fans, it will provide them with the opportunity to communicate directly with developers of games they love and form a deeper connection with people they admire.

Perhaps even more notably, the application will empower developers by providing them with the opportunity to crowdfund their game, thereby speeding up the development process.

The platform will even provide access to SDK developer tools designed to make the make game development easier than ever. As a result, almost anyone will be granted the ability to make a quality game that people will enjoy playing.


Shifting the Power Back to the Hands of Developers

Right now, most game companies take a large cut from developers in order to allow them to sell games on their platform.

Steam, for example, takes quite a substantial cut of 30%, leaving developers with only 70% of the revenue from their sales. For most companies – especially small indie developers who rely largely on the platform as a way to make money – this means a relatively large chunk of their revenue is lost completely. For many new companies, this can even drive them out of business.

By cutting out the middle man, a decentralized platform would take a significantly smaller transaction fee from game purchases, thereby letting them keep a larger percentage of the profits for their hard work.

There has also been a huge surge in the popularity of indie games over the past couple of years, with the release of breakthrough titles such as Fez and Minecraft that continue to rake in hundreds of millions of dollars per year.

However, raising capital for indie game projects is the #1 roadblock faced by developers creating new projects. The lack of funding is a major reason why many projects have been cancelled.


The Decentralized Game Store and Fundraising Platform

Game Protocol is one new blockchain-based game store that developers can use to sell their games and connect directly with their fans.

It is based on the Ethereum blockchain. As a result, all transactions are 100% transparent, and the system is virtually unhackable.

The team behind the platform includes a small group of game developers, along with gamers and fans, and blockchain and statistics experts. As a result, the application has been created with the needs of the developers at the forefront of the list of priorities.

Unlike many centralized gaming stores that often have ulterior motives that are driven by profit, Game Protocol will display games according to feedback from users. This will guarantee that the best games are displayed more prominently, providing an enhanced user experience and ensuring that the highest quality games get the most exposure.

Fans will also be able to partake in an active community that will allow them to give direct feedback to developers in order to help them to create the best games possible that people will enjoy.


A Huge Opportunity for Indie Developers

Decentralized gaming is definitely something to be excited about – especially for indie developers – and it could be here sooner than we’d thought.

We could be about to enter a brand new era of gaming that finally puts indie developers on a level playing field with gaming giants.

The result? Better leverage for smaller companies, and higher quality, more engaging content than ever before for their fans.

By | 2018-03-03T21:48:59+00:00 March 3rd, 2018|News|0 Comments

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