The ever-exploding gaming industry has been booming for years now with a value of over $33 trillion USD in 2020. With the mobile gaming industry reaching a value of over $74 billion USD in 2019.
Now the cryptocurrency market has set a new course towards carving a piece of the gaming industry bringing new technologies that allow gamers and game developers to capitalize in new ways with in-game content based Crypto-trading and supportive eco-systems.
Bringing Cryptocurrency into the gaming industry has become an all new trend in recent years, that is picking up fast due to the development of infrastructure technologies such as Non-Fungible Tokens (NFT’s) based on Ethereum.
The year 2021 is expected to present the first platforms for in-game virtual goods and items using Ethereum NFT technologies. The purpose is to incorporate two huge existing industries (Cryptocurrency and Gaming) under a single umbrella.
Several years ago, Ethereum introduced Smart Contract infrastructure to the Crypto-World for the purpose of securing the rights of content owners and consumers. Only now are new emerging coin-based platforms beginning to embrace the reliable blockchain technology and implement it in platforms.
The blockchain based smart contracts offer security to the content developers (to receive secure financial transactions) while ensuring consumers enjoy the benefits of NFT’s. This essentially means the consumer will have permanent ownership over their virtual goods and items.
Some big players have already taken a swing with these promising financial instruments, including Microsoft`s Minecraft, Roblox`s Sandbox, Decentraland, Atari, Epic Games Unreal, Immutable`s Gods Unchained and many more.
Combining the human need for ownership with the long existing custom of trading in a capitalistic digital universe has become the new finance frontier. A vision that now attracts giant players into the NFT`s based Crypto-capital market.
Playfuel Crypto Combines Gamers & Developers
For example one such platform that seems ahead of the curve for allowing game developers and gamers to harness the robustness of these technologies is PlayFuel.
PlayFuel is a Korean crypto based company that presented an Ethereum token (PLF) with a comprehensive ecosystem for game developers including a dedicated marketplace. The crypto eco-system allows for game developers to build next level in-game monetization platforms.
The platform additionally offers gamers to develop games on the free open source Unreal Engine with the opportunity to profit from revenue of up to $1 million USD with no commissions or strings attached.
Also, developers have the option to increase their profits from in-game PLF based NFT profits – which are not limited by the eco system. It is for this reason the NFT is said to bring a new level of utilization combined with an existing eco-system and innovative marketplace, and ultimately why PlayFuel`s PLF token shows real potential in leaping the joined industries forward in 2021.
The key ingredients to a successful gaming eco system requires trust, vision and innovativeness. These elements are clearly embedded in the DNA of Playfuel, which is chaired by Al Weiss (former president of worldwide operations for Walt Disney Parks and Resorts business). Mr. Weiss has vast experience in crypto technology eco-systems, and currently presides as chairman of Global Blockchain Ventures.
According to a statement released by Mr. Geun-Woo Lee, “Al Weiss helped introduce 1.3 billion Chinese to the modern leisure industry and entertainment experience by opening Disney Parks in Hong Kong and Shanghai. His outstanding leadership as Disney‘s President of worldwide operations for resorts and theme parks, combined with unrivalled expertise in crypto business will surely give a powerful impetus to PlayFuel.”