For many people the current situation of the cryptocurrency market generates a sense of frustration and fear in equal parts. This we must understand, really, is not something new, every time the markets (any type of market) suffer setbacks, a large part of investors suffer and question the investment and the market. And it is in this context where it is normal that the price drop of Bitcoin, the main cryptocurrency, that many people ask us how this can affect blockchain gaming.
And, obviously, there is a relationship: that is, of course one way or another blockchain-based games that are affected by the market situation. But, perhaps not as much as you might think, or in a somewhat different way than you might imagine.
The first thing you should understand is that when we talk about a project like WARLANDS we are not talking about a video game in casual mode. That is, we are facing a business project: we are a team of more than 70 people and we have been developing for almost two years to launch this project.
Logically, like any industry or productive sector, when the field in which we operate suffers a contraction or a setback, the user’s basic confidence suffers. In addition, there are also other collateral problems, for example, the drop in asset value generates an unrealistic image of value, which tends to decline.
However, when a project has been properly developed, market movements should not affect it to the point of breaking the development. In other words, we are in a sector in a growth phase, blockchain video games are going to continue and, moreover, an exponential growth in the presence of nft in gaming and esport is foreseen.
When a project has based all its economic potential on the launch of a token that depends on the market value, it may be affected if it has behind it a sufficient economic base of its own, of investors, or of strategic agreements. As you know, this is not the case of our project. Our financing comes from our own funds, which, although it is logically affected by the market situation, at the same time protects us from the stress of the value of assets that we will only launch to the market when they are really useful.
In addition to the obvious influence of value, it is important to consider another factor: image. And interestingly, for many industry players, this factor is the most relevant.
It must be taken into account that the blockchain video game industry necessarily needs to be fed, let’s be redundant, by players coming from web2. When talking about a video game on blockchain, we are not talking about an exclusive financial model, but about a game: we need players, and the vast majority of investors in the first c2e were not players, they were investors.
This has created a paradigm in which those initial investors, frustrated, do not have a good consideration of the future of the sector. And on the other hand, potential players do not receive very good messages as they link the current market with what they assume to be the future of the sector.
That is why it is very important for projects like ours to make it clear that above all we are a video game developed by a company that creates video games. This is the future, this is what we believe in and what is allowing us to go through the crypto-winter with solidity and solvency.
The gaming industry has experienced exponential growth in recent years, with billions of dollars in revenue and millions of players worldwide. As it continues to evolve, new technologies like blockchain have the potential to significantly impact the way games are developed, played, and monetized.
Improved Security and Transparency
One of the most significant benefits of blockchain in gaming is the enhanced security and transparency it provides. By storing transactional data on a decentralized and immutable ledger, blockchain eliminates the risk of data tampering, hacking, and fraud, ensuring a fair and transparent gaming experience for players.
True Ownership and Asset Trading
Blockchain technology enables true ownership of in-game assets, such as characters, items, or virtual real estate. This allows players to trade, sell, or lease their assets securely and transparently on a blockchain-based marketplace. As a result, players can potentially earn real-world value from their in-game achievements.
Decentralized Gaming Economy
Blockchain introduces a decentralized gaming economy, where players can earn in-game currencies or tokens with real-world value. This can incentivize players to engage with games more, as their in-game achievements can be financially rewarding.
Crowdfunding and Community Engagement
Blockchain also enables crowdfunding for game development by issuing game-specific tokens. This allows developers to raise funds from their community while giving backers a stake in the project’s success. It also fosters a sense of community engagement and shared ownership among players.
In-game Currency and Tokenization
With blockchain, in-game currencies can be tokenized and integrated with cryptocurrency wallets, allowing players to easily transfer value between games and even exchange them for real-world currencies.
