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While the blockchain and crypto industry participants never stop developing and exploring new possible applications of the tech, major global industries are now turning for answers in this unique technology when it comes to innovations in their field.
Just like that, gaming industry enthusiasts have been keen on utilizing blockchain tech in the sector, as applications seem endless. For instance, blockchain can be used for in-game transactions, for ownership of digital rights, or for tokenization of collectible items. While until recently, mainly small video game startups were eager to explore this technology and its applications, now even industry giants don’t want to miss out on the opportunities.
Gaming Industry Giants Tap Into Blockchain Tech
One of the global video game companies, Ubisoft, has been looking into the blockchain field since 2019. Back then, the company has revealed that it is exploring applications for blockchain tech. Reportedly, the company was planning to use the Ethereum blockchain for the management of the purchase of in-game items.
Fast forward one year, at the beginning of 2020, Ubisoft’s Entrepreneurs Lab announced the start of its fifth season on the incubator program. The lab was calling for the new startups to take part in the season. The season commenced in May 2020 and will last until November 2020. The key focus of the season is in two main sectors: Social Entertainment and Blockchain. According to the Ubisoft Entrepreneurs Lab:
“Blockchain technology is entering every single industry, including the Entertainment industry. We can see a nascent ecosystem flourishing in many different directions exploring new possibilities to envision the relationships with the gamers, and between them, virtual assets ownership and exchanges, transaction security, and all what a crypto currency can allow.”
Sony has been one of the most innovative video game companies out there for some time and in May of 2018, it proved it again. At that time, the company acquired a patent that presented a blockchain-based system for digital rights management (DRM) on video games and other media, such as music and movies. Then, in October 2018, Sony announced its DRM system. The possible applications of this system include the management of the digital content user rights on Playstation Network.
In April 2020, Sony announced that it developed a high-speed processing technology that is aimed at the facilitation of data transactions for a new type of database platform dubbed Blockchain Common Database (BCDB).
The Atari Group, one of the leading video game holding companies has not been idle when it comes to the adoption of blockchain tech. At the beginning of 2018, the company inked a partnership with Infinity Networks to create the Atari Token. Atari is also developing a blockchain-based revenue distribution platform for game developers, called Atari Capital.
In yet another fruitful partnership of 2018, this time with Animoca Brands, Atari announced a collaboration to develop blockchain versions of its mobile games Goon Squad and RollerCoaster Tycoon Touch. Later on, the companies decided to expand their partnership to include 15 new items from the Atari catalog.
Animoca Brands and Atari have also teamed up to facilitate the access to blockchain gaming content on the Atari VCS. Animoca stands as an ideal partner to complement the Atari VCS ecosystem, thanks to its global reach and popular blockchain-based games, including F1® Delta Time and The Sandbox.
Virtual Worlds: The Next Gaming Platforms?
It seems that the global gaming industry is undergoing a huge upgrade these days, with such popular video game names, as Minecraft, tapping into the blockchain industry. With its latest Enjin collaboration, Minecraft has introduced the plugin “EnjinCraft” that will enable players to trade and use blockchain gaming items via the servers.
Aside from the traditional players turning to blockchain to be able to keep up with technological advancements in the industry, many new ambitious projects are entering the space.
The Sandbox is an innovative gaming platform running on Ethereum blockchain that allows players to build, own, and monetize their gaming experiences via the platform’s utility token SAND. The project is aiming to disrupt the existing game creators such as Roblox and Minecraft. Aside from the blockchain technology, The Sandbox utilizes NFTs (non-fungible tokens) to enable creators and players to enjoy the true ownership of their creations.
Yet another of the video game industry giants, Microsoft, is eager to explore all the useful applications of blockchain tech. Earlier in 2018, the company began to use Quorum blockchain to offer real-time royalty information to XBOX game publishers. Then, in 2019, Microsoft has introduced Azure Blockchain Services, a platform that is aiming to improve the royalty process even further.
On February 18 this year, Microsoft announced that it has officially integrated its Azure cloud marketplace with the Lition blockchain solution. That move marked Microsoft as one of the first companies to combine blockchain with the cloud.
Time and time again, blockchain technology proves to have numerous applications in so many industries worldwide.
As we just saw, blockchain in the gaming industry allows gamers to claim the true ownership of their digital assets. In addition to that, thanks to the smooth and bug-free user experience provided by the blockchain technology, it is likely the mass adoption is not that far on the horizon.