The game market is huge, untapped for blockchains, and gamers already have the concept of digital currency and digital assets well understood, they just don’t deal with poor UX experiences well. Digital Assets that can be owned will absolutely be embraced, once the experience is completely intuitive – companies like Fortnite are purportedly selling 2 Billion worth of skins a month.
In the span of a decade, mobile gaming will have grown from the smallest segment in 2012 to a 100-billion-dollar industry in 2021. Remarkably, the rise of mobile gaming has not significantly cannibalized revenues from PC or console gaming markets. In the coming years, mobile game revenue growth will continue to outpace the overall games market, growing to $106.4 billion in 2021. By then, smartphone and tablet games combined will generate 59% of revenues in the entire market.
These are not even NFT’s that players can own themselves – they only exist on Fortnite’s servers. Streaming content is providing a virtuous cycle of game awareness, creating influencers and super-stars exponentially, and opening up new economic models. Which dovetails with eSports – more superstars and awareness (even petitions to add eSports as an Olympic exhibition event.
Now imagine NFT’s being used as part. Better yet, we’re currently using the blockchain to build a living metaverse. This metaverse will need to be filled with property, characters, and items. We’re anticipating a universe of connected game worlds on the blockchain. And ultimately, the bottom line is: everyone plays.
Everyone should have access to the incredible promise of blockchains. However, anyone who’s tried to help their non-technical friends and or family get into blockchains and cryptocurrency has probably realized how difficult the overall process is – exchanges, account sign-ups and verification, wallets, and esoteric jargon.
Speaking to James Mayo, President, and CEO of 8-Circuit Studios based in Seattle was instructive. He said the lessons they learned in the games industry will help make the onboarding processes effortless, and that great games and compelling content on the blockchain is the fastest way to drive the mass adoption of blockchains.”
“Gamers already understand the concept of digital currency and digital objects – and once they experience ownership and the ability to move assets between games – they will wonder why they ever settled for not having full custody of their gear. But beyond all that – everyone plays. Games aren’t just recreational, they are a natural bridge into learning and playing with new concepts in a safe and enjoyable way.
Mayo went on to say that the company’s goal is to create the highest quality gameplay experience which is why we’re building on the Unreal Engine and driving towards high fidelity visuals and design. This means getting away from building a DApp on the blockchain. The studios will be focusing on the gameplay first and integrating the blockchain in such a way that the player ‘almost isn’t even aware they’re using one’.
Mayo was also enthusiastic about the possibility of using the metaverse as a force for good and a place where people can actually dive into a digital area where conventional laws don’t apply.
‘While our mission is to drive the mass adoption of blockchains, our vision is to create a living metaverse one game at a time using the blockchain as a foundation. No one owns the metaverse, but we want to help contribute to it in these early pioneering days. We see it as a place where people can immerse themselves in a digital dimension unconstrained by physical laws and conventions – a place where the ability to create is only limited by one’s imagination. So we’d love to start there in the hopes of leaving our cultural thumbprint.”, Mayo concluded.