Know How The Cryptocurrency Changes The Gaming Industry

Blockchain technology is being used not only in crypto assets such as Bitcoin (virtual currency/cryptocurrency) but also in various fields such as supply chain, medical care, art, and even games.

Today, games are slowly becoming a reality. Massively Multiplayer Online, which means a large-scale multiplayer online game, replaces a computer-operated character called a “non-player character” with a “player character” that is operated by a real human being. Recent developers are also bringing real currencies into the in-game economy in an attempt to increase revenue from gaming services. As a result, players are often asked to pay real money instead of virtual money earned in-game for familiar interactions.

As the line between reality and unreality becomes vaguer, the risk to the player increases. When a game asks a player to buy an item for money, it inevitably (though not intentionally) invites scammers, illegal duplicators of in-game items, and other fraudsters. I will.

Suddenly, the fictional world comes with real danger.

So how do you protect the economy in which players are involved in an almost chaotic environment? One of the solutions we seek is blockchain. Apart from easily making profit through the bitcoin code, to counter fraud, this technology allows transaction records to remain scattered across the network, yet still trace all transaction flows.

Mechanism of the In-Game Economy

The economy, whether virtual or not, operates according to the “law of supply and demand.” In terms of games, the availability of a particular item affects the demand for that item. In the real world, the number of valuable items is limited, and it takes a lot of time and resources to create them, so these two factors affect the market value of the item. Recently, simulations of this mechanism have also been tried in-game. Developers give attributes and rarity to items that players want, spending more time and money.

Three Main In-Game Economic Models:

First is a model that uses two (or more) different currencies. This is characterized by using both virtual and real currencies in the game, such as “League of Legends” and other multi-player type MOBA ( Multiplayer online battle arena) ) Most competing games in the genre that are free to play are equipped with this system. Players can buy items in real-world currency, and as they play and progress through the game, they also earn in-game currency.

The second model is a system that uses only in-game currency. This system is used in many mobile games, and the fee for using the app is paid in the real currency, but after that, the in-game currency is gradually acquired and used for payment of items and the like. MMORPGs like World of Warcraft, a large multiplayer online role-playing game, are also in this category. Playing with these requires play costs such as payment at the time of purchase and monthly usage fee, and there is an in-game economy based only on the gold earned in the game and items you made yourself, and it is virtual to trade them. There are also auction venues.

The last is a model that does not use the in-game currency at all. This type of game uses real currencies to add features and purchase ornaments. This is a system unique to this game, which has been adopted as a basic method of securing profits in “Daughter Two” and is different from other similar games. In short, it is this reward system that activates the game and keeps the profit.

In all of the above three in-game economies, the rarity of items is linked to the exchange of real currencies, and as I mentioned earlier, although this combination causes various problems, applying the blockchain, it is possible to improve this situation.

Beware of Scammers, Fraudsters, and Item Duplicators

Whatever the case, if there are people who pay the real currency, the bad guys who try to use it will always appear.

In fact, it is seen that “a fraudulent person has 7.5 while one virtual item is being downloaded for regular sale.” This is an incredible proportion, as this impacts the in-game economy and prey on gamers.

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