Tech companies are starting to take a hint from the gaming world and integrating blockchain technology into their business models. Blockchain is making its way through sectors including finance, healthcare, retail, travel – you name it! But what about games? 24 of them have raised $476 million in just six months according to InvestGame’s data analysis report.
Blockchain has been used for many things outside of tech industry applications such as tracking diamond sales or even securing records like property deeds. The same can be done with video game platforms by creating an immutable ledger that provides verifiable ownership over virtual items. And more than two dozen startups working on this concept already exist today thanks to venture capital investments totaling $47M so far this year alone.
In a Silicon Valley-based crypto game world, Forte raised $185 million and Animoca gathered $88.888 million in just one week of deals as tech investors joined the lucrative industry led by gaming pioneers., while LA startup Mythical Games banked on its successful company Blankos Block Party raising an impressive sum of 75 milion dollars from Westcap Investment Partners.
Blockchain-powered gaming is still in its infancy, but it might just be the next big thing. There are high economic and technological barriers to entry that make casual gamers wary of diving into this space. But for those who want something different from traditional games, blockchain has great potential as a way to experiment with new gameplay mechanics without losing money on frivolous purchases or investing too much time in building up rare NFTs like Aavegotchi eggs.
Blockchain gaming tokens are already making waves in the industry, and that popularity is only expected to grow as entrepreneurs continue to challenge conventional norms.
Blockchain has become a very popular trend among gamers lately: after all, 9% of game investments were made through blockchain games over the first six months of 2019! It’s still too early for us to know if this will be sustained or not but considering how innovative these projects have been so far it would seem like there’s plenty more growth ahead.