Egor Gurjev: Why Blockchain and Cryptocurrency is the future of Gaming

To successfully meet the constant demand for high-quality gaming desired by consumers, the gaming industry must continually evolve. Blockchain technology is the latest development within the industry and for some, one of the most significant developments for some time.

Turning gaming as we know it on its head, blockchain technology is providing millions of gamer’s access to play the games they enjoy via a decentralised cloud-gaming ecosystem. For many, the lack of expensive and powerful hardware is significantly limiting the access they have to the biggest titles in the industry. However, by shifting to the cloud where processing power can be shared, you are simply removing the necessity to game solely on traditional hardware and thus transforming not only the way we game, but the industry.

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Blockchain technology is at the forefront of this shift. The technology encourages owners of powerful gaming PCs and GPUs to “rent” their servers to those who lack the required hardware. This technology and exchange of service works for both parties. Gamers will no longer need to invest in expensive gaming consoles and with the introduction of cryptocurrency, “miners” who rent their hardware receive payment for doing so.

However, it’s not just ease of access that makes the idea of a decentralised gaming system so appealing. Blockchain technology aids in the speed in which the ecosystem can scale and progress. This ultimately puts the power back into the hands of the gamers and out of the hands of the corporations.

Not only this, but the technology also aids in the sale of gamer-earned goods – the earning of a reward or item as a result of the time and effort they have invested in to the game, which they can then sell on for a monetary reward. Further integration of blockchain technology and cryptocurrency in to the gaming industry, is to offer cryptocurrency as an incentive to reward in-game achievements. Blockchain makes such payments a simplified process and therefore creates a genuine means of income for those ready to embrace the technology.

However, the appeal of earning from expertise is not the only reason why we should embrace blockchain technology, or why it is the future of the industry. One of the biggest attractions of this technology is the level of transparency it can offer. All parties involved within the decentralised cloud gaming ecosystem are able to see the movements of their cryptocurrency and a decentralised gaming platform, such as Playkey, will depend on the exchange and investment of cryptocurrency – such as the Playkey Token (PKT). By utilising blockchain technology, owners of the token are able to exchange and trade worry-free.

Although the full potential of blockchain technology has yet to be revealed, the current known advantages significantly outweigh any negatives. The level at which it is possible to scale, the earning of crypto and the removal of intermediaries are only just a handful of the benefits this technology can bring to an already booming industry. Blockchain is a willing participant in transforming the gaming industry for the better, as it hands the power back to the people who have created such a widely successful industry to begin with.

 

By Egor Gurjev, CEO at Playkey

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About the author: Andrew Beck