In this week's trending topic, #Cassiopeia explores the possibility of the combination of crypto & gaming together. Please check out the blog to read more on this -
Crypto gaming is relatively a new term in the market right now and while it is a potential and emerging industry, the digital video games sales revenue has come a long way. From a modest 753 million GBP in 2011, the numbers have reached upto 2,560.2 million GBP in 2017 in United Kingdom itself. While the numbers talk for themselves and indicate the boom that this industry is undergoing at present, it is no doubt that crypto gaming has a bright future ahead. Talking in terms of global impact, the major markets for online video gaming have been China, followed by the united states, japan and so on. As of December 2017, China generated a record sales of 32.54 billion US dollars in revenue while the United states being in the second spot for revenue generation garnered 25.43 billion US dollars.
While the infographics speak volumes for themselves, it would be fairly convenient to specify that crypto gaming is indeed the future. Block chain platforms have started to evolve and assist humans in decentralised applications still yet the crypto gaming arena is set to revolutionise how people have perceived online gaming so far. This is primarily evident from the online PC gaming market value worldwide which was estimated at 21.1 billion US dollars in 2011 and is forecasted to peak upto 33.6 billion US dollars by 2019.
At present the industry leaders are comprised of leading public companies such as Tencent, Sony, Activision Blizzard etc. With the rise in the crypto gaming audience and decentralised gaming services, this all might be set to change. People are now able to do much more than just simple gaming now a days and instead earn altcoins/cryto currency for their actions on such crypt based gaming platforms. Considering all this, it would be legit to say that crypto gaming is slowly but steadily becoming a part of people’s lives. It is not just a part of life but a way of life. This is widely evident from the fact that the number of online console gamers in just United States (The second largest country in respect to digital video games) is said to increase from 46.3 million in 2014 to 57.4 million by 2020.
Prior to the launch of block chain or block chain enabled gaming, the classic-primitive games used to store the players information/owned items on the game publishers servers. This had many vulnerabilities and one could lose possession of the assets in the case of server malfunction, stopped game development, banned account etc. The inception of cypto gaming has set to change all of that. Now the player is much more in control of their virtual assets while exploring uncharted avenues of profiting from them. In lay man language, players are now the masters of their accounts, game items as well as data and all this cannot be operated or supervised by anyone else. Expectedly this gives more control to the players but at the same time allows players to make profits and invest while playing games.
Thus, you get a lethal combination when you integrate three of the millennials obsession – gaming, business and decentralisation. The world as we know is all set to change. The question is are you ready to embrace the future ?
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