In a modern world we live in, people look for various ways of earning more money every day. Blockchain technology is just one of the possible ways of making your way to the top and being the best. It is a revolutionary and ingenious invention – it is allowing digital information to be distributed, but not copied, and, today, it has been created for the purpose of the cryptocurrency Bitcoin. And, with a growing popularity of a huge number of cryptocurrencies, it is no wonder that blockchain technology is slowly finding its way into the gaming industry, especially sports video games. FansUnite Social Sportsbook is just one of the examples of how blockchain technology can revolutionize sports betting and gaming industry. By utilizing cryptocurrencies to facilitate payment processing and bringing fees lower, making bets will be improved, including using betting bonuses like the FansUnite Social Sportsbook welcome bonus. Blockchain will also reduce the time necessary for transactions to happen.
Virtual currency vs. Cryptocurrency
Not so long ago, sports games implemented a digital currency to use when making purchases within the game – a compensation for the goods and services provided. Today, that kind of currency is called cryptocurrency. The implementation of the blockchain technology into sports video games will mean that the game itself will have a blockchain-based engine which can be used for trading and collecting digital items within the game. For example, if you play a football manager game and you need to make a transfer of a player from one team to another, blockchain technology will make it easier to send funds to another player or to make a purchase within the game.
Change in business models
Today, the models used in sports video games are related to streaming, standard compensations and sponsorship. With the occurrence of the blockchain, there will be a shift in the model – from a centralized to a decentralized one. A direct link between the players and their sponsors can be created, and the changes could affect the game developers, as well. For a small fee, independent developers could find their place working on major sports video game titles – by using building on common frameworks that blockchain technology offers.
Benefit for the developers
If someone wants to exchange something virtually, there needs to be a marketplace within the game to make that possible. That is an opportunity for the developers and players who always wanted to control the game they play. Developers could help by building and implementing token payments, and skilled players could build and take ownership of the game. Not-so-skilled players could pay a developer with tokens to make something and build it inside their favorite game. The final product may be a sports game party designed by the players who actually play it.
Every type of a new technology is compelling, however, people need to be cautious. Since blockchain is a rather unexplained technology, it should be dealt with great care – looking before leaping is crucial, especially since financial standings of game companies might be affected.