In-game items ownership on blockchain platform
Apart from the financial sector, blockchain is proving to be helpful to the entertainment business also. The blockchain is foraying into the gaming sector. The problems related to purchasing in-game items is not new. Frauds are all around the internet, and one can not avoid them with the present gaming system. Blockchain offers a way out.
Strategic cooperation of BitGuild and Tron
Blockchain technology is a decentralized and distributive ledger which will provide transparent and legitimate ownership of in-game items. The transactions of these items in the gaming environment will be transparent and verified.
BitGuild and Tron are now teaming up to develop blockchain around the gaming assets. BitGuild is basically a gaming platform based on the blockchain headed by CEO , Jared Psigoda. Psigoda himself is a cryptocurrency and gaming expert. Tron is a protocol based on the blockchain. BitGuild will serve to provide a one-of-its-kind set of in-game assets to Tron and TRX tokens will enable these purchases. This basically means that the gaming items owned by gamers will be on blockchain in the form of tokens. The gamers can trade or keep them safe.
As explained by Psigoda himself, “Blockchain and smart contract technology allows for gamers to own their items. Instead of an item being flagged on a game developer’s server as ‘belonging to’ a certain player, that item will be sent to that player’s digital wallet over the blockchain. The gamer will own it and be free to do anything for example, he/she can sell, trade, or even import it into another game. In addition, smart contracts are open source and allow for player verification of things like item drop rates.”
This is quite different from the traditional blockchain solutions. Most of them involve the exchange of video game currencies, and services but none of them yet has come up with the blockchain based ownership and exchange of the game items in the form of tokens.
Psigoda explains, “They primarily focus on working with existing game developers to allow for the transfer of the rights to their items in a frictionless manner over blockchain. Unfortunately, most of the assets transferred are not blockchain assets. BitGuild believes that blockchain games will be an entirely new class of games that will tokenize the game characters and items themselves and exist within the players’ digital wallets.”
This way the in-game items shall be ‘tokenized on the blockchain’, thus providing gamers the legitimate ownership and rights to trade their own gaming assets.
Blockchain Magazine is an independent platform mainly focused on news and stories related to blockchain and other decentralized technologies. We are committed to deliver and present a reliable and true picture of blockchain framework.