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It is evident the gaming industry is growing rapidly, thanks due to the increasing global audience with different outlet channels such as mobile gaming, live-streaming, virtual reality, and esports.
The integration of blockchain technology into this growing industry has the potential to open more opportunities for both developers and gamers alike. The question is, how exactly should blockchain be implemented to effectively penetrate the market effectively?
Global Interactive Media Market
A global interactive global market has allowed gamers to participate and involve themselves in the industry without playing the game itself. Esports leagues and tournaments, live-streaming such as Twitch/AfreecaTV, and virtual reality has shaped the industry into a whole new ecosystem of entertainment.
The gaming industry is not just playing the game itself anymore, and new forms of entertainment is involved in the space. Based on this, how can blockchain technology be utilized to create a more effective global ecosystem for gamers, developers, and investors?
Global Market Growth
New and emerging business models like free-to-play, additional content and microtransactions give gamers the ability to buy only what suits their personal needs, allowing emerging economics to enter the industry.
New markets combined with a strong popularity of free-to-play mobile games has created the mobile audience globally to 2.9 billion, a third of the world population. The mobile experience attracts gamers from all regions and age groups.
Based on a 2017 report by SuperData, there is high growth from the digital gaming and media sectors. New business models such as Free-to-Play (F2P) and micro- transactions open a broader user base while new forms of media keeps gamers entertained outside of the game itself.
There are currently 3 main areas companies are utilizing blockchain to the gaming industry today:
1. Digital Asset Management
2. Automated Tournaments
3. Payment Ecosystems
We believe there are many more opportunities in which blockchain technology can be utilized to create a more efficient, global ecosystem for the gaming industry. As the first ever blockchain-related contest, we are looking for like-minded participants to express their interest for the gaming industry and think of new innovating strategies and ideas on how blockchain can be applied to gaming.
In order to enter into the contest, participates are required to create high-quality, relevant ideas and use-cases for gaming and blockchain. Please fill out the short survey to participate in the contest, winners will be notified by email and payment details will follow.
A explainer video and/or written article MUST be included in the survey in order for your entry to be valid. Multiple entries are not allowed and will be counted.