Distributed ledgers in the form of blockchain technology are invading financial markets, healthcare systems, and global supply chains, but perhaps the most significant disruption is yet to come. In the past few months, immutable tokens (NFTs) have gained prominence as symbols of legitimation for digital goods ranging from art to old-fashioned internet fads. However, the game industry is perfectly suited for NFT integration, which has been recognized by a number of well-known companies in the game industry, particularly Sony, Ubisoft, GameStop and even Sega.

If you find this confusing, the live video game analogy becomes in. described Ready player one presents a functional way to shed light on the form the blockchain-based gaming industry could take. The film, based on the novel of the same name by Ernest Cline and directed by Steven Spielberg, tells the story of a teenager in search of the key to a hidden fortune in the virtual world of OASIS – role-playing simulation centered, of course. . Interestingly, the connection to blockchain technology was made even before the film was released.

Without a clear view, blockchain technology, aside from NFT, can certainly provide a working base layer for many of the weird and wonderful concepts portrayed in the film. From Pizza Hut delivery drones (see this academic report) to facial recognition technologies, you’ll find that these types of technologies are no longer exclusively available on the big screen – they have reached the world.

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Let’s start with the basics

If you pay just $ 0.25 to start the game, everyone will get on the same level in OASIS. Pretty much everything else comes with an in-game fee – a fairly common concept in games. In this way, the currency in OASIS is used as fuel for the network, as is the SAND token in The Sandbox that exists on the Ethereum blockchain. Similar to OASIS, albeit on a much more rudimentary level, this allows players to buy, trade, and vote on in-game services that affect the gaming network.

Additionally, players will use familiar game tools to navigate the OASIS area, such as the Advance Warning Display (HUD) and User Interface Inventory (UI). Of course, these concepts also exist in blockchain-based games, in titles like Neon District (an RPG) and Dissolution (a first-person shooter). Unlike traditional gaming networks, these games have been developed using blockchain technology, which enables players to actually own their acquired assets. In further development, future players will reload excess in-game items for real value.

Traditional gaming as it is today is not conducive to the way OASIS works. The value is largely tied to the respective game as it exists on the respective platform. This way, a person playing Call of Duty cannot exchange value with another FIFA or Fortnite player. More importantly, there is no interoperability between gaming networks like Microsoft and Sony, which further isolates the ability to exchange immense values ​​between these worlds.

In contrast, the blockchain-based game allows players to move their assets to decentralized exchanges and perform value swaps, as seen with automated market makers like SushiSwap and Uniswap. These platforms work a little differently than centralized crypto exchanges like Binance or Coinbase because there is no central authority to approve transactions. Instead, the funds and transaction powers are distributed among users, eliminating any sources of error.

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While there are certainly some additional steps compared to OASIS ‘seamless transaction flow, this infrastructure allows players to trade values ​​between games and the fact that game networks are playing. It also enables players to actually own their in-game collectibles and create a future where previously intangible digital assets can become legal goods.

Building a crypto economy

The time and money spent on gaming, especially during the COVID-19 lockdown in 2020, is amazing. The gaming ecosystem is projected to surpass a $ 300 billion valuation by 2026, outperforming other major entertainment industries like movies and music. In addition, the global crypto market is expected to reach $ 4 billion by 2027. Many avid gamers have the chance to get a piece of this pie, although this is a privilege reserved for these “elite” players.

Likewise in Ready player one, the player will be a minor champion in OASIS, using methods to make a living not dissimilar to those of gamers in our universe. If you visualize the interface between the teleworking (performance) economy and the games industry, a digital economy that runs on a blockchain network appears like a natural development. A crypto gig economy has obvious advantages and the ideals of the gaming industry overlap with the key characteristics of blockchain technology, with a significant number of crypto entrepreneurs investing in the esports market.

More importantly, the NFT crypto game sales markets saw explosive growth in 2020 and even more so in 2021. In fact, NFT sales hit $ 2 billion in the first quarter, excluding NBA Top Shot-related sales that recently exceeded 1 million users.

In the broader economy of OASIS, players are encouraged to level up by competing for “artifacts” – rare, powerful items typically obtained by completing challenges. Perfectly matched to the functionality of NFTs, such as in gala games the world of Mirandus, NFTs give players a competitive advantage and undeniably belong to the players who bought them. Similarly, the in-game virtual fashion revolution has already begun, and we might see a supermarket of high fashion brands sooner than you think.

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Next level gaming game

As in any normal role-playing game, there are non-playable characters (NPCs) in OASIS who live in the area and with whom the player can interact. Of course, such an immersive virtual experience would require an unimaginably high level of responsiveness and adaptability built into its structure. You probably know where this is going: the world of artificial intelligence, or AI.

Another concept appears in Ready player one Halliday Journals is a library of all the memories of the creator of OASIS. It is used by gamers to find clues about the keys and is described as being shown through CCTV footage and written log entries. On this point, I can’t help but think of Neuralink and its proximity to the gaming industry. Neuralink, a project developed by Elon Musk, is a neural implant that allows users to control their computer or smart device.

Perhaps in the future we can see a game-brain-machine interface that is secured and works on blockchain technology to provide an experience as immersive as OASIS. Can you imagine such an experience built into Todd Morley’s “Blockchain Tower” that emulates the Halliday Journals, where memories are stored and presented through the NFT in a completely non-interactive environment?

A decentralized utopia

Final, Ready player one presents a cautionary story that inspires viewers to engage with the real world. Likewise, we need to maintain our ambitions for blockchain technology. This grand vision of crypto-based gaming has a long way to go before it leaves an indelible mark on mainstream gaming networks.

With this in mind, blockchain-based games are slowly gaining traction, and blockchain gaming features have the potential to improve traditional gaming business models – the best known being free-to-play with transactions. or digital downloads with additional purchases (Xbox, Playstation or Nintendo games) and free games (Eve Online or World of Warcraft).

The value of these games and their respective networks often accumulates in the pockets of game publishers, with gamers often less attracted to game networks where they generate great value. This model is not very old and proves to be unacceptable for games with network effects. A particularly recent example is the backlash against Call Of Duty: Warzone to enable a pay-to-win advantage.

Blockchain-based games have chosen to differentiate themselves on the basis of two key qualities: first, digital ownership – which gives players real, immutable ownership of their in-game assets – and second, a free market where players can see their accumulated value can exchange between us. With sheer cash pouring into the blockchain gaming space, the combination of digital ownership and free market participation could lead to the gaming industry becoming blockchain-powered.