Think blockchain games, and you might be able to reel off some major titles — Crypto Kitties, Alien Worlds, Axie Infinity, and SandBox, to name just a few. Blockchain games like these were widely covered in the media, as many players shelled out enormous sums for digital items and non-fungible tokens (NFTs) on the blockchain, which gave rise to new on-chain economies.
What most reports overlook is that users, a vital part of blockchain games, remain a missing component. Even the most popular blockchain games attract only a few hundred thousand users daily, so it’s a tough fight to compete with major traditional titles. So why compete, when you could collaborate? In this article, we’ll compare blockchain games to traditional games, and examine how blockchain technology can provide services to gamers and viewers without reinventing the wheel.
Blockchain games vs. Traditional games
Blockchain is valuable for many applications, but usually it lends itself to use by individuals rather than multiple users at once. This is in part due to the way that the blockchain processes transactions, which requires consensus from miners or node operators — which can sometimes take several minutes.
As a result, blockchain games struggle to offer simultaneous playability in a multiplayer setting, and therefore blockchain is limited in what game styles it can offer. This limitation makes it difficult for blockchain-based games to compete with traditional games, which already have the infrastructure, players, and viewers in place.
At Verasity, we’re changing the game, without changing the way games are played. Instead of building on the blockchain, we are leveraging blockchain technology to make existing gaming better through features such as Watch & Earn — and the results of this approach speak for themselves. Esports Fight Club, one of the first Verasity-powered platforms, recently partnered with Players Unknown Battlegrounds (PUBG) Mobile in July 2021, with huge effect.
PUBG’s Ultimate Warrior Showdown, in association with Esports Fight Club, pulled in an enormous daily average viewership during the tournament of 4.5 million, with peak viewers of over 674,000 in a single stream. With some 14 million total views streamed in over 6 different languages over the length of the tournament, it’s clear that value for blockchain lies in viewership of traditional games, rather than attracting its own dedicated user base. Compare this with monthly users of CryptoKitties, which stands at just one million per month, and it’s easy to see that there’s little to gain by going head-to-head with gaming behemoths.
The Future of Blockchain Games?
Digital transformation takes many forms. Although it was logical early in blockchain’s development to attempt to transform the gaming industry as a whole through decentralization, it’s now evident that the most promising avenue for transformation is through delivering in-game value.
Even in the heady days of early MMORPGs, when players built the first digital economies through in-game currencies on the likes of Runescape and World of Warcraft, game developers were exploring ways to merge real-life value with in-game economies. Now, with a huge number of options available for monetization through blockchain, we can finally begin to explore these opportunities in reality. That’s the vision behind Verasity and our powered platforms, and our innovations of in-game value such as Watch & Earn.
Instead of rewriting the rulebook, it’s clear that the future of blockchain for gaming is blockchain-enabled gaming — let’s lead the way together.
You can participate in Watch & Earn on efc.gg.
Verasity.io is a protocol and product layer platform for esports and video entertainment. Verasity’s mission is to significantly increase engagement and monetization for video publishers on any video platform. Verasity products include: a proprietary ad stack and the VRA Rewards System integrated into SDKs for YouTube, Twitch, Vimeo and all major video platforms. Verasity’s patented Proof of View, a protocol layer technology offers transparency and immutability to defeat online ad fraud and NFT fraud.
Via this site