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This article was contributed by Humpty Calderon, Head of Community at Ontology,
The last several years have seen incredible growth in the gaming industry. Play-to-earn and crypto models skyrocket in popularity with its integration with the blockchain, expanding 23% in 2020 over the previous year.
Against this background, many gamers and developers are skeptical of the benefits that blockchain games can bring, leading to recent reactions against some studios that are integrating NFTs. Case-by-use cases highlighting the benefits and solutions that blockchain can bring are important to show that this technology can enhance what players already know and love about gaming.
Through backing games with blockchain technology, including decentralized identity (DID) solutions, players can truly own their in-game assets and receive rewards in a way that was not possible before. In doing so, they are connected to a secure, secure online identity that will be transportable across multiple different virtual worlds.
Allows Blockchain Studios to take the gaming world to a whole new level. It can help ensure that in-game items are found and the value they have is not just locked inside the game. Combining blockchain with in-game items such as weapons, skins and other aggregation items enables them to retain a new, unique form of value, while also ensuring that value is protected. This means that if a game is eventually discarded or sold to another company, players can always retain their value. By combining digital records of assets with decentralized identities of individuals, players can prove they own the item and, if necessary, take that record out of a game. In this way, DID can facilitate interactions between different blockchain-based games to provide a range of benefits to players.
DID Solutions is a blockchain infrastructure that can back-end games to verify players’ identities, verify the traceability and validity of their in-game assets, and ultimately enhance player security. As the gaming industry develops, the appetite for confirming ownership of treasures, trading cards and other quest items that can be collected, and items in the game that can help blockchain users meet these needs increases.
We’ve seen personality become increasingly important to General Z, who makes up the bulk of the gaming community. According to reports, 87% of General Z play video games, with 65% spending money on virtual items within the game in 2021. By combining ownership records with unchanging ledgers on the blockchain, players can actually prove that they own these items. , Making the exchange process clearer and more secure.
Players often trade game items such as skin, life and skills through forums, social channels and commerce platforms. The reason they prefer to do this outside of games themselves is that many games do not enable the exchange of items for real currency nor do they have the infrastructure to verify things properly. Easy to navigate, quick KYC check using DID is an option that can be used in games to enable fair exchange and protect players from scams and other malpractices. This means that players who are trading can confirm their identity, while remaining legally aware of who they are dealing with. What’s more, if players decide to exclude themselves from the gaming economy to trade through social channels or forums, they can still request a DID check to prove the legitimacy of who they are trading with. This ensures that they are safe both in and out of the game.
Web3 will eventually enable players to integrate seamlessly between different games and virtual worlds that create metavars. In practice, this could mean that a player could take his incarnation from a game like Call of Duty and bring it to the World of Warcraft to complete the quest. There, they can buy a sword and later sell it to a player in Decentland, where they can use the money to buy a virtual plot of land. The possibilities are endless but for this to become a reality, players need to have an interoperable digital identity that will allow them to pass through many virtual worlds with compatible identities including their wallet, assets and personal information. Decentralized identification enables this.
DID Solutions also means that players own and have complete control over their personal data, enabling them to securely log in to different systems without disclosing their private information. This level of security is a crucial element for gaming, ensuring that every transaction within the game is verified, securely recorded and stored, and most importantly cannot be changed. Players spend countless hours collecting their gaming profile, skills and items. DID can help gamers secure these gaming assets while protecting their privacy and also saving their valuable time. The solutions are designed to allow players to create a more robust version of their online identity and with full control, the DID holder can decide which information they choose to share with a private key that only gives access to the verified user.
When the global gaming market is set to reach $ 250B by 2025, the appetite of players who truly want to own their in-game assets and secure secure interface in multiple virtual worlds will only increase. By adding decentralized identity security, while protecting private information and adding confidence, video games can create a whole new ecosystem of true ownership. This will transform the entire industry for the better, creating a more transparent area where players can rest assured that their assets and real and virtual identities are protected. Used properly, decentralization can shape the future of gaming.
Humpty Calderon is the head of the community at Ontology.
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