The future of blockchain and gaming looks rather bright. The Blockchain Game Alliance has been formed. This outfit is comprised of various blockchain and gaming companies. Advancing the use of blockchain technology in the gaming industry will be this alliance’s number one priority
The Blockchain Game Alliance is Born
The video gaming industry is under a lot of pressure. Numerous debates regarding lootboxes, DLC, and pay-to-win projects can be found across social media. More transparency is direly needed in this growing industry. Blockchain technology may hold the solution to these pressing problems. That is what the Blockchain Game Alliance aims to pursue over the coming years.
This new entity has the support of industry heavyweights across blockchain and gaming. Ubisoft, Alto, Gimli, ConsenSys, EverdreamSoft, and Enjin are just some of the members. The Blockchain Game Alliance was introduced during this year’s Blockchain Game Summit in France. Their goal is to advocate for broader blockchain adoption in the gaming industry.
Initial efforts will focus on creating an open forum. Engaging in an open and active dialog will fuel collaborative and research efforts moving forward. Revamping the way consumers think about and interact with games will be a big challenge. Additionally, the Alliance will develop best practices and standards to promote blockchain integration within the gaming industry.
Paving the Way to Success
Several projects have shown blockchain and gaming go well together. Spells of Genesis is a very popular offering in this regard. The blockchain-based project offers digitized digital assets. These assets are fully owned by the player, and can be monetized as they see fit. No traditional game provides this functionality at this time.
Blockchain technology can provide many benefits to gaming enthusiasts. It introduces creating cross-game assets and characters to enhance the overall experience. For in-game purchases and transactions, fees can be reduced to a bare minimum. This is a commonly explored benefit of blockchain technology. Its speed and low-fee nature make very a rather appealing combination across different industries.
Accelerating industry adoption of blockchain will not necessarily happen overnight. A lot of game developers build their franchises as “stand-alone” offerings. Offering cross-game compatibility can be beneficial, yet not all publishers will see the benefits right away. Through the Blockchain Game Alliance, the speed of adoption can be increased accordingly. Putting the players in control of their in-game assets will shed a positive spotlight on the industry.
What impact will the BGA have on the blockchain gaming industry? Who do you think will join next? Let us know in the comments below.
Images courtesy of ShutterStock and Blockchain Game Alliance
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Author: JP Buntinx