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What Blockchain Brings to Gaming
What Blockchain Brings to Gaming

What Blockchain Brings to Gaming

Blockchain is becoming a household term in the gaming industry. The flexibility that it offers to gaming platforms, and the ease of participation that it provides for users form some of the major tailwinds behind the adoption of blockchain technology by gaming companies.

One of the key benefits of blockchain technology is the inclusiveness that it provides for communities where it is applied. By adopting a P2P permissionless blockchain network, the segment of the population that may have been previously excluded from various tools now has unlimited access without the need for intermediaries.

In this version of The Punters’ Pick, we highlight some of the growth that the gaming industry has experienced as a result of blockchain implementation. We detail the kinds of barriers that blockchain has enabled users to overcome in their quest for inclusivity in the gaming industry.

CryptoPunt Development Update 1 – Jackpot prototype refined

Over the past week, we rigorously tested the game design and user flow for the Jackpot prototype. The design and flow has greatly improved, providing a smoother gaming experience. Over the coming week, we will focus on enhancing the visuals and user journey. We will also implement key development components to improve the all-round performance of the game. This improved framework can also be transitioned into other CryptoPunt games.

CryptoPunt Development Update 2 – Wallet connection

The ability to connect wallets has been integrated into the profile settings. We have implemented a private blockchain for this purpose. The private blockchain will allow for easier testing of smart contracts.

We have also deployed a query index in a smart contract. This index will enable us to deliver data directly from the blockchain to the CryptoPunt UX, allowing users to easily monitor their activity on the underlying chain.

Happy Friyay!

Every Friday we have a 360-degree team review, where each developer presents their weekly progress and key learnings. We have a transparent review and analysis session to celebrate our achievements and identify areas to improve.

Restrictions inherent in traditional gaming industry

The gaming industry is a global one whose disbursement throughout the world is propelled by emerging technologies. A few factors have strengthened the success of the global industry. These include the spread of internet infrastructure and the availability of affordable technical tools like smartphones and other electronic gadgets. The ability to settle payments is another key factor that is behind the spread of online gaming, especially as provided for by the use of blockchain technology.

At the global level, there are parts of the world that have suffered from the lack of payment settlement infrastructure. In these regions, where settlement gateways were available, they came with very exaggerated fees and cumbersome procedures.

In sub-Saharan Africa, a country like Nigeria has a huge online population of over 104 million internet users. However, the use of PayPal and other payment protocols is commonly restricted on the continent. Despite a lack of payment processor options, the gaming market has recorded robust growth and this growth is likely partly attributable to the proliferation of blockchain technology.

(Source: Statista.com)

Blockchain adoption spurs growth in online gaming

Growth in the Nigerian gaming market corresponded with the period when blockchain technology started making waves within the region, around 2016. With the introduction of blockchain-based gaming, more netizens could circumvent the restrictions imposed by domestic governments. Gaming platforms like CryptoPunt pride themselves in facilitating such ease of access, as users can quickly access blockchain-based games with no registration or KYC process.

The Nigerian example is replicated in different parts of the world where regulatory and bureaucratic setbacks have formed barriers for online interactions including gaming. Blockchain technology is dissipating such barriers. The technology is set to completely restructure the online gaming industry by facilitating permissionless access and making it possible to create vibrant in-game economies where users maintain complete ownership of their assets.

The evidence suggests that blockchain technology has helped propel the growth observed in the online gaming industry. With blockchain technology receiving more mainstream attention in 2021, it is likely that the technology will become even more embedded in the global gaming industry.

About CryptoPunt

CryptoPunt is a next-generation gaming and gambling Dapp. Underpinned by the Ethereum blockchain, CryptoPunt is positioning itself to be the leading blockchain-based gaming application. Users can start gaming in less than one minute with no KYC or registration process. CryptoPunt will offer a broad suite of games, including an option that has a virtual world and in-game economy.

Stay tuned, and learn more!

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Alex

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From scaling up businesses from scratch to launching online products, and from balancing client relationship to being a reliable face for the organization, Alex is everything a new-age startup needs. CryptoPunt is delighted to have Alex as its strategic director & CEO!

Dan

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The role of a technology officer in a tech startup can’t be stressed enough! Fortunately the person handling security, cryptography & maintenance at CryptoPunt is none other than Dan Krusto. Dan has been working on Blockchain, Smart contracts & Ethereum development way before they became mainstream! We’re sure his past experience in the field would be beneficial for Cryptopunt & its users alike.

Sam

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Gone are the days when Blockchain based gaming was analogous to clunky UI & UX. With Sam honing the creative side of CryptoPunt, her past experience in Fortune 500 companies & startups is bound to match and exceed the GenZ gamers’ expectations!

KVESTOR

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KVESTOR has always been a visionary and it’s illustrated by the fact that they began accepting Bitcoins way back in 2012! Possessing a bulls-eye intuition for spotting future trends, KVESTOR founded VYSYN ventures in 2015 which since then has been at the forefront of disruptive Blockchain projects. CryptoPunt is looking forward to their valuable mentorship in the future.

Tone

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Tone is someone who has experienced IT world in its entire length & breadth. From working with Salesforce as a developer and consultant, to taking a dive in online poker websites business and then finally shifting full time to cryptocurrency industry in 2017, few people would be having a diverse career as him. Navigating the seas of crypto gaming market would be cakewalk with Tone at the helm!