Gamers and developers are now turning towards the blockchain to redefine a billion dollar industry. Today, digital gaming accounts for 87 percent of the industry’s $108.9 billion annual revenue. Yet as digital disruption continues, new technologies are needed to sustain industry growth, development and solve certain problems.
Common issues currently facing the gaming industry deal with censorship, third-party interference, fraud, budgetary constraints and more. The benefits associated with blockchain technology, however, can offer a solution to many of these problems. After all, a blockchain serves as a digitized, decentralized, public ledger for all cryptocurrency transactions. And, a blockchain-based platform is built entirely on trust and provides full transparency of every transaction that has ever taken place by any person associated with the network.
The Benefits of a Decentralized Gaming Ecosystem
Blockchain technology has the potential to transform the entire gaming ecosystem, ranging from creating more secure, instant and transparent payments to connecting gamers and developers from across the globe.
For instance, Game Chain System – also know as “GCS” – is a gaming distribution platform based in China that is known for connecting game developers with gamers. GCS is now using blockchain technology to create a decentralized marketplace to help game developers create video games that are not outlawed by censorship or third-party interference. GCS, whose platform has over 20 million users, expects to grow the company with the $35 million recently raised in their ICO (Initial Coin Offering).
Gawooni is developed by a team of experienced interional developers and produces high-quality games for emerging markets including Southeast Asia, India, and South America. Gawooni focuses on mobile and online gaming as well as Esports, encouraging competitive gaming and being particularly attractive to sponsors, advertisers and media partners.GAWOONI has created a gaming ecosphere where games introduced by the company, as well as other 3rd party games can be published. With the help of developers from Germany, India and South East Asia, the company has successfully introduced the utility token, GWON and its in-game crypto currency, the GAWOONI coins.
The gamers can win tokens by playing games that can be further converted into GAWOONI coins. These coins can be used in the others games which are published on the same platform for up-gradation purposes