Observers of the performance of encrypted digital currencies assert that the year 2021 is almost the strongest time for developers and investors of these currencies, whether in terms of the openness of major companies to invest in these currencies, or in terms of issuing these currencies to some Electronic transactions. Experiences of using blockchain have increased in several areas, including the banking sector and financial services companies because of their capabilities in data analysis and privacy, but a report published by “Inc” addressed the impact of digital currencies and “blockchain” on the electronic games industry from another perspective.
The electronic games industry is currently estimated at about $700 million, with expectations that it will reach $1.5 billion by 2020, according to Business Insider estimates. As the field of electronic games expanded, smaller industries emerged from it such as sponsorship, marketing campaigns and advertising. Electronic games have become an official industry and have recently begun to consolidate their position in the wider business world.
Nevertheless, video games are only a part of a broader industry that diverges in areas as diverse as innovation and entrepreneurship. With the emergence of the Block Chain and topping the scene, entrepreneurs began to explore the many possibilities that can be exploited in the electronic games industry and attract advertisers and developers to software and game hardware companies.
Blockchain technology harnesses computing power and devices in exchange for rewards with points in games, discounts on hardware purchases, or free tickets to play other electronic games. Participants in electronic games try to use the points to obtain rewards, perhaps in digital currencies, in games such as Overwatch and League of Legends But cryptocurrency not only attracts players to get involved in these games but also developers to launch such games in the first place.
An electronic game developer faces a challenge in promoting and distributing his game after creating it, and although they are smart enough to develop games themselves, it is not easy for them to sell them, especially if they try to promote them in another country.
Among the most prominent primary advantages of digital currencies is their ability to improve transactions around the world through the absence of the need for central banks because they are traded via Block Chain decentralized technology, and Block Chain and those currencies have already been used in the buying and selling of electronic games. Companies such as Unity Technologies provide the codes for some of the popular electronic games, including Pokemon Go and Angry Birds and the games are downloaded on hundreds of millions of mobile phones around the world.
Unity recently collaborated with Cloud Moolah to use its blockchain platform to provide better payment and distribution solutions for online game developers, especially in Asia, which means digitizing game purchases.
Of course, the electronic games industry will expand greatly around the world thanks to the digitization of its purchases, but in light of the risks surrounding digital currencies and some of their illegal uses, as well as bans by many governments and restrictions on their trading exchanges, this will negatively affect the industry and disrupt its growth.