Estimates indicate that by the end of 2021, 2.7 billion people will be regular players of video games. Stated another way, in the near future, gamers will make up more than one-third of humanity. More than one-third of humanity.
When it comes to ripeness for blockchain technology, gamers are almost comically well-suited. They’re already accustomed to in-game currencies, for starters, having an implicit understanding that digital tokens/credits are useful for buying and selling things online.
Additionally, they spend large swaths of time creating real economic value during gameplay — that is, value that other players are willing to pay real money for, like purchasable custom characters, weapons, and territories.
And gamers are also the most hurt in the event of corporate or technical disruptions of a given game, standing to lose potentially years worth of in-game earnings that can’t travel with them outside the game (imagine moving to Paris but being unable to trade in any of your existing money for euros?)
These unique characteristics mean that one-third of the world’s population is already primed for blockchain, a technology which (at least allegedly) can track, verify, store, and make globally transferable any and all in-game assets — complete with instant settlement, and for a fraction of a penny. Except, this hasn’t happened.
An Embarrassing Track Record
The gaming industry has not ignored blockchain. In fact, some of their biggest players have already adopted the technology, going out on a limb before their peers. And they got burned.
First there was Steam, an ultra-popular online distributor of over 34,000 games with 95 million active monthly users. In April 2016, Steam added blockchain payments (via Bitcoin) to its suite of accepted payment options, but then in December 2017, that option was abruptly removed.
Then there was Amazon.com Inc (NASDAQ: AMZN)-owned Twitch, a livestream service where 15 ...