Mobile Payments Technology Blockchain Could Mean Big Things for Gaming

December 31, 2018         By: Steven Anderson

The days after Christmas are often heavily filled with gaming, and for the obvious reasons. If they weren’t received as part of the Christmas haul, they’re a big part of the time off that comes with the Christmas season. However, one of the biggest developments in gaming may be yet to come thanks to a mobile payments technology: blockchain.

We’ve seen a lot of technological advances in gaming; start with virtual reality—which has been around since the 1990s and games like “Dactyl Nightmare”—and advance on through augmented reality and artificial intelligence. Now, we’re stepping into blockchain, which may ultimately make video games a paying proposition…for their owners.

One of the biggest controversies in gaming of the last 20 years was the notion of selling in-game assets for real money. This is especially common practice for role-playing games like “Diablo 3” or some of the newer “Assassin’s Creed” installments in which new and powerful rare items can be found. Giving these assets to other players can help improve their utility in battle, or just give new players bragging rights.

The problem, of course, is that game players didn’t actually own the content in question, so selling it became kind of a legal disaster.  With blockchain, however, it becomes possible for gamers to own virtual assets—what is bitcoin, after all, but a virtual asset?—and then buy and sell it accordingly.

That right there should immediately sound alarm bells in gamers’ heads the world over. Imagine for a minute being able to buy the Sword of a Thousand Truths and then reselling it later. The real one, not the graphically nerfed one that Blizzard came out with.. That could be a real game-changer, and it could be possible with blockchain involved. We could actually buy and sell items in video games, a system that would effectively turn video games into a paying gig.

It doesn’t stop there, either; imagine convertible tokens for reviewing the game, for engaging in the community, even just for playing. Imagine a system where the one gold you have in “World of Warcraft” were convertible into 100 Warcraft tokens, worth $1 each in real life. The possibilities are substantial, and we may well see gaming become an industry for the players in short order.