Blockchain games and their obstacles?!
Cryptocurrencies are gaining more and more popularity in different industries, such as art (NFTs), traditional financials finances product (Defi), Fundraising and crowdfunding (Tokens), and lots of others.
The gaming industry is also one of the early adopters in the cryptocurrency space, with phenomes like Blockchain games, Play to Earn, etc… But what is the Blockchain game? Why it is so interesting and why so many VCs are pushing their money into so many players in the market?
Gamers make up almost 1/3 of the world’s population today.
2021 Market valuation of the gaming industry is $175B worth and is anticipated to increase to $314.40 billion by 2026.
Market valuation of Blockchain Games industry is $1.5B worth today.
I think that everybody knows a person that is spending hundreds of dollars on some game for example Fortnite for skins, tools, weapons, etc. But once they stop playing the game their money is gone, they are not able to monetize their investment in playing this game. Even if players pay real money for their digital assets in traditional games, they will lose access to them if the server is ever turned down. Both the money and the game assets would remain the property of the publisher or developer. Which does not make any sense in fact.
Imagine you can buy a special weapon in Fortnite for 10 USD, some really unique weapon that gives you a higher chance of killing some players. After some time playing of this game, you decide that you dont want to play it anymore. You will go to a marketplace of Fortnite, directly in the game and sell your weapon for 30 USD because it is unique, it is more powerful since you played with it. This is exactly what are Blockchain games
So in a few sentences Blockchain game gives players complete control over the digital assets they earn or gain through their participation in the games.
Blockchain has already been utilized to keep track of in-game assets like weapons, skins, and experience points. These assets can’t be hacked or changed that way. Most of these assets are not only valuable in the game but they could one day be purchased and traded on an external marketplace like an NFT.
Gaming is, unsurprisingly, one of the most profitable and popular blockchain applications. Blockchain is currently the backbone of the NFT trade, notwithstanding its association with Bitcoin and Ethereum.
No wonder why so many VCs are pushing their money into this industry, it has enormous potential for growth when you consider that the current market valuation of Blockchain games
So the question is what will be the blockers and obstacles in adopting $175B worth market to crypto space?
Complicated entry point!
If you consider that most of the players are not really familiar with cryptocurrencies, pancakeswap, sushiswap, metamasks, other DEX, etc…it will be a HUGE problem for them to understand it properly and the conversion rate of interested users will be really low.
This is very the Swipelux mission comes into place!
Making the entry point as easy as possible:
Ok, then there is the question of how we are going to do that, right?
We have developed a tool how to buy cryptocurrency with fiat using a credit card directly. We could integrate this widget into the gaming platform, so anyone will be able to buy gaming tokens or NFTs directly on a gaming platform using Visa/Mastercard without ever leaving the platform.
Some interesting games to follow:
Smooth Love Potion- Axie Infinity is a name you’ve probably heard of in blockchain gaming or the crypto world. This is the most popular blockchain game in the Philippines, with young people abandoning their jobs to earn a cool $2k per month.
We are looking forward to becoming one of the players that will help with this amazing industry!
Let’s build an amazing future together!
Co-founder of Swipelux