How blockchain will change the gaming industry — AToken Wallet
Home to nearly 2 billion gamers and a growing USD $94.4 billion in revenue from ‘direct-from-publisher’ digital goods, the gaming industry is truly booming. And it is only expected to grow, as experts project a number north of USD $128 billion in annual volume by 2020.
Despite its meteoric rise in popularity, there are still many rocks waiting to be turned over in the industry. Specifically, there is a massive, untapped opportunity to improve the security and efficiency of the market for “gamer-earned” digital goods (i.e the digital goods that gamers earn by playing the game).
Currently, both casual and hard core gamers alike invest tons of their time and money in earning these rare collectible items. But as games wane down, as they regularly do, and people lose interest, those collectibles become illiquid. Regardless of how many thousands of dollars and days of time were spent earning a good, gamers lose everything. Finding the right solution to this problem could unlock an entire new market for gamers to buy, sell, and trade items.
This is not a particularly unique or insightful observation. A number of companies are aware and have attempted to address this value drain for both gamers and publishers. Sadly, no team has been able to create a safe and stable infrastructure designed to support transactions of digital goods at any reasonable scale. Steam, the popular gaming community, released a marketplace that fell short, as it only allowed gamers to transact on its platform (not cash out).
And what we are left with, in this search for a more liquid marketplace, is a random mix of forums and Reddit pages that are left without security. In fact, many of these have inadvertently become platforms for fraud and scams.
There is, however, a new renaissance of startups trying to build out services and tooling for the gaming industry. One particularly promising startup, Koala’s life, offer KALC token authorized by Ethereum Smart Contracts, which will enable gamers to buy and sell digital goods safely on any centralized or decentralized platform. Koala’s life hope can offer gamers the opportunity to liquidate their goods in a secure, fraud-free ecosystem that this space has never seen before.
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