HOW BLOCKCHAIN IS TRANSFORMING THE GAMING ECONOMY The transparency of blockchain technology is set to take the entertainment industry and gaming economy to the level as the power gap closes between developers and players.
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GAMING IN THE OLDEN DAYS 1972 - Atari, pioneers in arcade games, kickstarted the computer games era with Pong. Selling consoles to arcades and software for home computers were huge dollar earners. Space Invaders, Pac Man and Donkey Kong followed. 1982 - Arcades were making more money than the music industry and cinema box offices. 1985 - 2000 - Nintendo Entertainment System (NES) took the technological race to the next level. Along with Duck Hunt, Excitebike, and Mario of Super Mario Bros, the console market thrived.
Nintendo dominated the market, introducing the Game Boy handheld and the Super NES. 1988 - Sega entered the fray with enhanced processing power with Genesis and then Game Gear handheld. 1994 - Playstation by Sony using CD-ROMS became the first console to sell 100 million units. Microsoft, not wanting to miss out on the console market, brought out the Xbox 2001 until today - The gaming industry grew from tens of billions to hundreds of billions. Microsoft's Xbox Live was offered as a monthly subscription.
2004 - Blizzard launched the first Massive Multiplayer Online (MMO) World of Warcraft, peaking at 14 million monthly subscription users. App Store paved the way for developers to create accessible, paid, and pay-per-feature games that are appealing to an ever-growing mass market. 2020 - Mobile technology accounted for 50% of the US$165 billion gaming industry revenue, and gaming companies are trying to consolidate to increase their cut of this market.
THE TURNING POINT 2019 - Epic Games Fortnite was shut down for a "black hole" event when the world's leading game Battle Royale introduced a new location and chapter for users. When accounts were frozen, there was a collective "light bulb" moment. Users realized they did not own their online acquisitions such as skins, currency, and other items. They had no property rights despite their expectations. A user's only right is to use the item within the limitations created by the end-user license agreement buried within the terms and conditions agreed to when registering.
GAMING THE FUTURE Enter blockchain technology. Virtual resources within games are providing users with real-world money earning potential. The decentralized, secure properties of blockchain protect assets in this complex new virtual world. Blockchain will improve user experiences with secured ownership and globalization as developers add new games or in-game advancements. Next Earth is a virtual asset platform based on a replica of the earth itself. Virtual land purchase accessible through blockchain aims to build a fully digital world. Ownership of assets, land or other, is decentralized, eliminating a middle man, i.e., authorities, banks, and developers, with transactions between buyers and sellers. Next Earth citizens will hold https://nextearth.io/ non-fungible tokens (NFTs), digital assets like Ethereum or Bitcoin. NFTs are part of crypto-world technology and store unchangeable transparent ownership data.
NEXT EARTH INCLUDES GAMING IN ITS ECONOMIC FUTURE https://nextearth.io/ Next Earth’s NFT technology is being used in virtual gaming, where assets purchased as NFTs are undisputed.
Assets are traded and collected and, depending on demand vs. supply, have the potential to rise in value. The 2018 movie Ready Player One was a fictional snapshot of what the future held for virtual land ownership and gaming. Three years later, that future is now. NFTs have made virtual assets a natural phenomenon. The virtual economy is set to boom.
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