The crypto space often asks what is the killer app? What is it that’s going to catapult crypto into the mainstream?
The killer app might be gaming.
Gaming is huge. Worldwide, it’s expected to be a 152 Billion Dollar market in 2019. And it’s only getting bigger… fast.
“Fortnight is registering half a million users per day… and that’s exactly 20 times the total amount of wallets with dai on them.”
Matias Nisenson and his co-founder Luciano Bertenascotook a leap of faith, 18 months ago, that the technology they knew they would need would be there, when they were ready to launch and it is. So they’re using the Loom Network’s sidechain technology on the Ethereum Blockchain.
Their game Crypto Wars is revolutionizing the gaming model. Instead of players buying skins or guns or other assets that only they can use, the whole game being built on a blockchain using NFTs allows users to purchase, unique, valuable, tradeable assets.
Because these assets are unique, and therefore scarce, they will go up in value as the game grows in popularity.
Users can purchase NFTs like swords, cars, skins and sell them to other users for a return on their investment. And as the technology expands, these NFTs will at some point be able to be interoperable so they can be moved from game to game.
And within the game, players can also earn crypto.
“What we’re doing at crypto wars is basically giving the power back to the users. They are not spending money anymore in games, but what they’re basically doing now is they’re investing it. So, they could actually monetize their time while having a lot of fun at the same time.”
Matias explains how the gaming economy resembles the real-world economy.
“You will have some users that want to spend time, and you will have some users that want to spend money. The users that want to spend time can farm all these resources and can sell them to the users who want to spend money. So, it’s basically like a real-life economy just translated into a game.”
It may sound futuristic that people in real life will want to purchase NFTs for a whole lot of money, but it’s happening now. One of the Crypto Kitties kitties sold for $140,000 and Matias tells me about a Formula One NFT by Animoca that sold for $100,000.
Animoca Formula One NFTs
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