How Useful Can the Blockchain Technology Be For Online Gaming Industry?

What’s wrong with the online gaming amusement and entertainment industry? It’s a multi-billion dollar industry. This industry is offering more than one way to make a decent amount of money while having a whale of a time. You need not secure a seat in some school or college or need some certification to be a professional gamer. Just be perfect at playing video games and you are in. If you get an opportunity; you can participate in one of the many online eSports tournaments going on. Sumail Hassan, a 19 years old gamer is the youngest professional gamer to make more than $1 million. He is a Guinness world records holder now. He is playing for Evil Geniuses.

Or, like many other gamers, you can showcase your gaming skills by streaming your gameplay live on platforms such as Twitch, HitBox, Beam, Azubu, Bigo Live, YouTube gaming etc. Your stellar performance on any of these platforms can win you a good deal with some popular team. This industry appears to be a flawless industry. However, industry insiders know that that’s not true.

Lack of Interaction

After a game is developed, there are three actors working together to entertain the audience – a sponsor, a gamer and an operator. The audience is the best entertained when all the needs of all three actors are addressed in the best possible way. However, gamers, sponsors, and operators are working with different platforms offering no opportunity to interact. An actor working with one platform cannot use that platform to interact with someone working on another platform.

Lack of Personalization 

There are different types of games such as social games, action games, multiplayer online games, stealth games, real-time strategy games and more. Needs of an actor (gamer, sponsor or operator) specialized in multiplayer games are different from an actor involved in action games. For example, an operator needs to personalize his marketing campaigns in order to attract a specific type of gamers to serve a specific audience. However, these platforms are not offering enough features to tailor campaigns.

Lack of Monetization Methods

Gamers, especially streamers do not get enough opportunities when it comes to monetization. On the majority of platforms, gamers have to pass a threshold. They can monetize their gameplay only after streaming for a certain number of hours. Not all programs offer loyalty rewards. Some do, but it’s a headache for a gamer working with multiple platforms offering different types of loyalty programs.

Too Much Of Advertising 

Advertisement based model deprives gamers of a great gaming experience. The audience does not have any problem with one or two adverts. However, the audience cannot stand aggressive advertising. Advertising allows the industry to generate more revenues which necessary to cover the cost of devices, infrastructure, and platforms. However, dependence on the advertising can be reduced by curtailing the costs the industry is incurring.

Fraud and Data Thefts 

It’s not right to say that the existing platforms are not taking data security and users rights seriously. Many existing platforms have implemented measures like KYC to verify and validate the identity of a new user. However, data misuse and data manipulation are still happening. There is hardly any platform that has implemented Triple DES, RSA or some other encryption algorithm for storing user data in encrypted form. As a hacker manages to get an access to the database, he can easily manipulate or misuse the data of an authentic user.

Blockchain – The Solution

The Blockchain technology is a revolutionary technology that many major industries have taken very seriously. These industries are making the best use of the features this technology offers for making business more efficient and secure while reducing cost.

The tools and features offered by this technology guarantee secure and consistent communication. It does not depend on any third party service for communication and interaction. Working with multiple platforms does make money but the revenue is accompanied by a lot of inconveniences. It is easy to manage a single revenue stream as compared to multiple revenue streams. A gamer might be working with a platform doing business from the US and other platform doing business from Europe. There are different currencies, different tax rates, and different exchange rates.

In the case of the Blockchain based platform, actors use cryptocurrencies instead of some government-controlled fiat currency. Cryptocurrencies are global currencies. This reduces the inconveniences involved in transactions involving fiat currencies. Moreover, there is a single revenue stream even when the gamer is working with multiple gaming services. There is one big loyalty reward program for all gaming services.

The self-reliant Blockchain powered gaming platform does not rely on third parties. There is no middleman and transaction charges are also negligible. As a gaming platform with Blockchain at the core does not depend on third parties, its dependence on the ad-based model is reduced to a significant level.

Illicit activities, frauds, data misuse, data manipulation, identity thefts or other cyber threats and business misconducts can no more spoil the reputation of the gaming industry. Any kind of data whether it is related to any of the actor or gaming service is cryptographically protected. It is almost impossible to steal or corrupt data stored on the Blockchain. A Blockchain based platform necessitates KYC mechanism. Just as it is making other industries more efficient, profitable, secure and trustworthy, the gaming industry can also reap the rewards of this technology.

Top 10 Upcoming Gaming ICO   

1. Bountie (

2. Big Bang Tokens (

3. Truegame (

4. Dreamteam (

5. U Run It (

6. Alive Casino (

7. Bx.Bet (

8. PlayChip (

9. MEVU (

10. RYFTS (

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