Blockchain? Is it a game, a gamble, a goldrush ?

We are getting ready for our 3rd IMGA Southeast Asia. This edition will be part of a conference about the integration of cryptocurrencies and blockchain in the Mobile Gaming Industry. Thus, we think it’s high time to explain to you what blockchain and cryptocurrency are. In the following weeks/months, we’ll provide you with insightful interviews and relevant articles explaining above topics. If you’re an expert in one of the topics and would love to share your two cents, don’t hesitate to contact us.

If you are not an expert, let me try to explain..

Here is the black and white definition of the blockchain. “A digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly”.  That is according to online definitions.  Ok, cool, I understand that, but, what’s a cryptocurrency? I have an answer for that too. “Cryptocurrencies are a new asset class that enables decentralized applications.”

Does this make any sense to you?

Well, let me just give you the definition for decentralized applications then. Amongst the sea of explanations to be found online, I thought this explanation to be clear and easy to understand.  “Creating apps/ things that you can distribute online without needing a middleman”. When speaking of blockchains, crypto, and decentralized Apps, whether you like it or not, you’ll have to include ICO. Initial Coin Offering, ICO in short. It basically means offering some units of a new cryptocurrency in exchange for other cryptocurrencies like Ethereum or bitcoin.

I hope that the definitions given above are clear and understandable. However, if you find yourself in need of more profound and detailed information, please read this article by Adam Ludwin or this article by Paul Gadi.

How do above-given definitions impact the Mobile Gaming Industries?

Imagine playing Rovio’s hit game Angry bird revolution. What if you could transfer all your coins and the achievements you worked hard for onto another version of Angry bird?

Blockchain makes the effortless transfer of virtual assets into different games. Transferring your files without a middleman being involved. No more having to publish your games/Apps to a centralized place like the Appstore. Allowing game developers to reach consumers directly through a decentralized marketplace. This allows you, as a player, to pay less for the game. It permits developers to sell their game at a lower cost. The middleman, a centralized selling place, would have been cancelled. That’s exactly what our friends at altio.io did. They saw the potential blockchain had for the gaming industry and decided to launch their game platform, altio.io.  They help game developers use a new item-based economy by putting game assets on the blockchain. That makes these items transferable across games and have provable digital scarcity.

In the weeks to follow, we will post a series of articles related to above-mentioned topics. If you an avid player, a blockchain expert or experienced in any of those topics and working on something exciting for the games industry, contact us as we would love to interview you. Also, don’t forget that you can still submit your games for this year’s edition of the IMGAWARDS SEA. 

Next article will be an interview with the guys behind altio.io.