As blockchain and cryptocurrencies enter our social life one whitepaper at a time, as an avid gamer I am extremely excited about the possibilities the crypto space presents for the gaming industry.
I have been heavily involved in gaming over the years first as a die-hard gamer and then as a game developer and blogger. In 2017 I worked on a side project that involved building games on the Ethereum platform. While it was certainly an enjoyable experience what has struck me the most about the blockchain space is that even though the space seems to have incredible potential and the maths is mindblowing, we are still a long way from disrupting the many industries that blockchain is expected to disrupt. One of them is gaming.
Building a blockchain-based gaming ecosytem seems super obvious to me. If you have been a serious gamer growing up in the 2000s you must already be very familiar with in-game assets and in-game digital currencies. I remember Second Life from Linden Labs that had a serious in-game economy worth millions of US dollars. I played and blogged about Second Life in 2010-2011 and got a good feel of how in-game assets could be tokenized and various reward mechanisms could be used to build a reasonably sustainable virtual economy. My Second Life experience was fascinating to say the least but it pales in comparison to what cryptocurrencies now offer us.
I am currently experimenting with a few blockchains that may allow a long-term blockchain-based gaming ecosystem to thrive. I don’t have any favorites yet but based on my experience so far I can tell you that Ethereum, NEO, and EOS seem to be the most likely possible candidates to build a large gaming ecosystem where thousands of users will be able to use the gaming platforms built on top of these crypto projects.
If you understand the crypto space then you know that this list may change dramatically in a matter of months if other interesting or more scalable, feature rich, low fees, and high speed crypto projects pop up. I don’t have a particular favorite among the three at the moment but I am personally more focused on experimenting on EOS and Ethereum because of the outstanding communities and people that are part of these projects.
With that said let me get to the infographic that this post is about.
I wanted to highlight a general purpose blockchain-based gaming model that covers most aspects that a large gaming project might want to consider. This is in no way an exhaustive or sure shot method to build a blockchain-based gaming ecosystem but I think this is what most early systems will want to accomplish.
I have listed 5 different stages that a blockchain-based gaming ecosystem should have given the current possibilities. These 5 stages are as follows:
- Buy – when an independent developer or a team of developers wants to build such a system they would first need to identify and buy some cryptocurrency that they want the users of their game to use. Let’s call this random cryptocurrency GameCoinXYZ. This can be bought either from an exchange or by working directly with a company offering such a cryptocurrency.
- Integrate – After making an investment in GameCoinXYZ the developers can proceed to integrate GameCoinXYZ into their game. Developers will use a software development kit of their choice to build and integrate.
- Earn – Gamers can then earn this GameCoinXYZ inside the game by completing missions or tasks or any other gameplay features. This earning can be in the form of some in-game assets that are backed by GameCoinXYZ. This means that by acquiring an item inside the game a gamer would have earned some proportion of a cryptocurrency.
- Socialize – the social mechanics of the game can allow gamers to buy, sell, or gift the in-game assets they have earned to each other in a peer-to-peer manner.
- Liquification – Gamers should also be allowed to liquify their in-game assets that are worth a certain amount of GameCoinXYZ. This simply means that gamers are able to convert their in-game item back into GameCoinXYZ which may be stored in a wallet like application either on the blockchain or in an independent application with the ability to securely connect with the blockchain. This feature would also allow gamers to exchange their GameCoinXYZ with other cryptocurrencies or even sell their GameCoinXYZ on an exchange for fiat.
The successful implementation of these 5 stages may lead to the birth of a new gaming economy and ecosystem that revolves around the community and the cryptocurrency powering the entire ecosystem. I will revise this infographic later this year once the EOS mainnet is up and running and the blockchain-based gaming community starts rolling out some interesting projects as I am sure they will since I personally know a few of them.
If you like this general purpose blockchain-based gaming model please feel free to share it with game developers and gamers around the web. Also, if you have feedback regarding this infographic please let me know by commenting below or by finding Stannals on social media.