Ravi Chamria, the CEO of Zeeve, sees blockchain as the transformative force fortifying the gaming industry’s future. He believes that blockchain technology will make gaming fairer, simpler, and more enjoyable for everyone involved, leveling the playing field and inviting more players into the game. Here’s his perspective on how blockchain is reshaping the world of gaming:
The Problem
The challenge lies in the barrier that professional gamers have created, making it difficult for newcomers to break through. Their expertise attracts salaries, sponsorships, live streaming revenue, and various other income streams, forming an orbit around them. Monetizing their gaming skills requires these newcomers to bridge the gap with seasoned professionals. The traditional club-based gaming model in the Web 2.0 landscape is largely closed, making it difficult for newcomers to capitalize on their gaming abilities.
The Solution
Blockchains are constructed to prevent the concentration of power within a handful of corporations. This structure facilitates accessible participation, enabling gamers to utilize Play-to-Earn (P2E) models to monetize their time spent in-game.
Additionally, gamers can diversify their income within the gaming environment by selling in-game assets or investing time to extract NFTs. Over the last couple of years, around 1.22 million newly operational wallets have embraced these capabilities, leveraging them to earn money while engaging in gaming activities.
Empowering Gamers through Blockchain Autonomy
Professional gamers worry about losing control over their earnings due to the ever-evolving gaming landscape or the actions of gaming companies. Blockchains offer a solution by granting players control over their digital assets. They facilitate the use and monetization of in-game possessions across different gaming environments, breaking free from the limitations of a single game.
Securing Esports with Blockchain Integrity
Esports grapples with controversies like bonus misuse, fraudulent practices, and compromised trust due to a lack of transparency. The absence of a reliable technology infrastructure leaves participants vulnerable to deceitful tactics. Data is crucial in thwarting such abuses, but the disorganized state of esports leads to alarming reports suggesting 1 in 10 instances involving fraud. Embracing blockchain technology could revolutionize information integrity, restoring trust through transparent consensus mechanisms, bolstering security, and combating the prevalent fraud within the esports realm.
Blockchain Scaling in Gaming
Balancing simplicity and cost-efficiency, gaming faces hurdles with blockchain’s consensus affecting scalability. The EIP-4337 upgrade, introducing account abstraction, bridges Web 2 and Web 3 gaming experiences for users. As roll-ups and side chains mature, they hold promise in amplifying scalability and interoperability. This evolution paves the way for a comprehensive gaming ecosystem atop blockchains, ensuring maximal value extraction. Embracing these advancements could harmonize gameplay simplicity and cost-effectiveness while bolstering blockchain gaming, fostering an environment where innovation and user experience coexist for gamers’ benefit.
Source: Financial Express
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