In most blockhain projects, tokens are given to investors in return for their investment. If you have a great idea and need money to get a kickstart, you can create an ICO and sell “shares” in your future company. By creating tokens in a blockchain you give your investors the power to sell their tokens in the open market.
But there is another way for tokens and blockchain to help other industries grow.
The gaming industry is a continuously booming market, generating over $108.4 billion in 2017. This growth hasn’t gone unnoticed by retail giants like Amazon, who purchased the world’s largest live streaming platform Twitch for $1 billion.
Like any other area that grows significantly over a short period of time, it also has huge areas of improvement in marketing, advertising and marketplace.
That’s where tokens like Digibyte, Refereum and GameCredits enter to revolutionise the way gamers are being rewarded for their efforts. Centralised platforms like Youtube have made millions from ad revenue that belong to game influencers who create traffic by playing games.
Most of the gaming companies spend a lot of money on advertising on centralised platforms, instead of paying some of the top-notch developers to work for them. Digital tokens could reward influencers for their efforts of bringing millions of customers annually, decreasing the huge costs of advertising.
Some games offer purchasable in-game content with fiat money, making companies earn money, even after the game has been released. But what if the player would like to sell the item in the open market? That’s where digital tokens and blockchain could play a huge part, by making a in-game object valuable in real life.
The gaming industry could create an entire economy where all the revenue could be shared between the development companies, gamers and influencers with the help of tokens and blockchain.
Short Bio of the Author – Carpenco Dima
One of the top 10 Cryptocurrency Writers on Quora, with over 1,5 million article views.
Blockchain Advisor and Cryptocurrency Enthuziast, Founder of Coinwrath.com
UI/UX Designer – “If you can dream it, i can make it happen”