With the increasing cases of superimposing virtual elements upon the reality of human existence, it is obvious that the concept of Augmented Reality (AR) is upon us. This development is becoming more emphasized by the implementation of Blockchain technology.
Disruption in the world of gaming
Using tokens to transport value has moved beyond just digital currencies within a particular community and has become instruments of communication between erstwhile non-interactive ecosystems. This phenomenon is exemplified by the conspicuously developing trend in the world of gaming, where game concepts are tangibly interactive with real world events.
Before now, the results and achievements in gaming were non-applicable outside a particular game. All the results and efforts of game players remained within the given game until they are claimed or recycled.
Games like Prospectors are introducing a system where the borders between gaming and the real world are gradually disappearing with the help of blockchain technology. This allow gamers to export their results outside the community of a game into other games or the real world.
Tokenization, a tool for inter-phase transfer
Blockchain gaming enable tokens to become transferable, exchangeable and remitted within a gaming community or in the real world. This development became greater than before by the augmented reality (AR) technology which is already conquering more and more hearts.
The cross-border accessibility through tokenization has made it possible to bring the results from a particular game into another. And, that is how tokenization brings significant value to gaming.
In its simplest form, tokenization is the process of replacing sensitive data with unique identification symbols that retain all the essential information about the data without compromising its security. Hence, transporting value through phases and ecosystems have found possibility through tokenization.
Motivated by rewards
Rewards and incentives are playing a vital role in connecting the virtual world of gaming with the real world of tangible existence.
According to the developers of Prospectors, a game that is based on a real economic model of several years ago, the inspiration was the success of the decentralized social network. Further exploring the idea, motivated the development of this Massively Multiplayer Online Real Time Economic Strategy (MMORTES) gaming platform.
Like Sergey Popov, CEO of Cubus Pte. Ltd explains, the tokenization of rewards appeared recently. And, this advancement has introduced new possibilities to the game creators and the gamers. The option to take game results outside will add another earning opportunity for people playing games for a living.
“The tokenization of game results is a natural process. New possibilities like inter-game quests and serial games will create totally new types of games. We live in an exciting time when the new tech is continually changing traditional gaming”, Popov told.
Popov notes that esports will also see an impact by the tokenized rewards as a new industry is emerging where the performance will receive reward based on market capitalization.
The cross-border ability introduced by the blockchain, also open new possibilities to create user-friendly interfaces for totally practical markets like courier services and sports competitions. These are marketplaces where people can exchange game assets for the real goods and services. Prospectors also represent the same game model. In Prospectors, the DAO upon which the game is built represents a state that governs the game economy while the player’s’ activities replicate the way governments monitor and tax their citizens.
The players on Prospectors can perform as independent miners, using the game tokens. Or, they can combine forces with other players to form mining corporations. To function as either entity, these players will have to pay a small fee to the DAO which represents the government. The system followed here is very similar to the payment of taxes to governments in real life. The platform stakeholders will manage the fees (taxes), and they will be responsible for governance and budget through decentralized voting.
The power of the blockchain
Blockchain allows gamers to take their results outside their game into the real world as tokens and other items. Augmented reality (AR) technology could enhance these Blockchain-based transfers, significantly blurring the line between the real and virtual world.
Games like BitComon GO also combine AR and Blockchain technology. Such games allow users to create their tasks, publicity campaigns, sports events and micro-jobs using Ethereum smart contracts. Through this gamers can earn game coins and other forms of digital currency in the process. We just need to see how long will this concept take to become a successful technological model. Which in due time, it should.
This post is part of our contributor series. It is written and published independently of TNW.