The gaming industry is failing to reach its full potential due to a number of reasons that has discouraged a lot of supposed stakeholders from throwing their full weight into the development of the industry.
The gaming ecosystem is highly populated with tech-savvy individuals who can easily identify any form of irregularities that may pose a risk to their participation. Hence, the shortfall of the existing centralization is a significant setback to the industry as a whole.
The fault lines are obvious
Existing centralized gaming platforms are characterized by some unfortunate processes that expose users to the possibility of gloomy consequences. For instance, there is no guarantee that critical and personal information submitted by users of these platforms can be kept safe from hackers who may break into the centralized database.
Also, in some cases, the owners and administrators of these platforms are involved in the selling of individual information to marketing companies or using such information for purposes other than it was originally intended without the permission of the participants. Information such as username, password, credit card number, bank account info, etc can be dangerous in the hands of the wrong people.
Another reason why potential participants have stayed away from the gaming industry is due to the deliberate acts of mainstream game vendors who purposely introduced costly cumbersome processes for independent developers and newcomers to effectively compete in the industry. This is a selfish measure that is common in so many viable markets where the bigger players fight to retain the market monopoly for selfish reasons.
Despite being valued at over $100 Bln in 2017, if juxtaposed with existing potential, the gaming industry is expected to have grown beyond its present state.
With its ongoing activities, Game Protocol is implementing blockchain technology so as to deliver:
- A Unique Cryptocurrency Token for Gaming tradable on exchanges
- A Decentralized App Store for Games
- A fundraising Platform for independent developers
- Blockchain tools for game developers
These deliverables will automatically break-up the existing monopoly that is dominant in the gaming marketplace by empowering independent developers who have hitherto been bullied out of the market. It will also enable the creation of Decentralized Automated Games (DAGs) that will be built on smart contracts.
The code for DAGs are open source and will allow gamers to inspect them at any time for bugs or scams. By implementing smart contracts, every aspect of the games from login to payout becomes automated, leaving no room for any form of discrepancies. Also, third-party influence becomes a thing of the past, therefore there will be no chance for any form of manipulation.
An industry redefined
Blockchain has shown its disruptive ability in so many industries and counting. The new look that it is bringing to the gaming industry is bound to redefine the age-long narrative that presents gaming as a dubious art to a lot of people.
Basically, gaming should be an interactive adventure that challenges different aspects of human ability under well-defined rules. Twisting processes for undue advantage is a narrative that should be expunged from an industry that is becoming popular with so many innovations springing up on a daily basis. By implementing blockchain technology, Game Protocol is set to redefine the gaming ecosystem and create a more welcoming industry for those who have been shut out before now.