During a Unitize digital conference panel focused on games, Mike Termezy, vice president of token economics at technology services company blockchain Forte Labs, explained that blockchain can alter the ecosystems of the games market.
Blockchain can set more clearly defined scarcity parameters in games
During the panel, Termezy, along with gaming expert and Gossamer Consulting Group director Eric Kress, discussed several points about the current gaming scene. Topics included commentary on various gaming communities, the digital products companies sell, and other aspects of gaming.
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After observing a number of points in the blockchain application in the games, Termezy highlighted the economy surrounding the games and the value that blockchain brings.
„When you allow ownership and you have a market, the dynamics of the market will begin to govern what people consider rare and what people consider extremely valuable, versus what people consider relatively common.
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Ownership means authenticated assets in the game, transferable out of the game
By mentioning ownership, Termezy is referring to a digital product or aspect in the game supported by blockchain, which makes that aspect of the game, essentially an asset, marketable while showing its legitimacy and value through blockchain data.
Termezy referred to this as a token economy, with assets even available for transfer out of your specific in-game world for Bitcoin Revolution trading, etc. An asset from this world, for example, could be a football player from a FIFA game linked to the blockchain.
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Referring to the scarcity of assets in the game and market activity, Termezy added:
„A developer can clearly influence this by the amount of assets of each type that are coined, but ultimately allow players to express themselves, what they consider valuable.“
Blockchain in general has seen significant traction in game implementation, evident through several headlines, including game giant Atari and its recent activity in the industry.24