Reddit’s Alexis Ohanian Believes Blockchain Gaming is the Next Big Use Case Application for DLT
Alex Ohanian is the co-founder of Reddit. He also happens to co-own Cloud 9, which is amongst the most valuable esports teams globally. He has a strong belief that gaming powered by the blockchain will be huge. He shared his thoughts recently in a tweet while sharing an article by the co-founder of Horizon Blockchain Games Peter Kieltyka.
— Alexis Ohanian Sr. 🚀 (@alexisohanian) November 29, 2018
It is the first time a major backer of esports has publicly said that blockchain gaming would be huge. Ohanian made an investment into the Series A round for Cloud9. The round also saw Joe Montana, the Hall of Fame quarterback and outfielder Hunter Pence, both from the San Francisco Giants.
What The Article Had To Say
Kieltyka broke down the value proposition of bringing blockchain tech into the video game world. He talked about true digital asset ownership, mass collaboration, provable fairness, interoperability, and play to earn gaming. Here is a bit more detail on these concepts:
• True Digital Ownership
With the blockchain, it is possible to create a world where players have full ownership of each card, coin, and collectible even when they leave the original game. The digital assets can be placed in a digital wallet, which will give players full control over them. This could lead to a world of interoperability in gaming besides the major economic potential. Players will be able to buy and sell their assets when and how they want.
• Provable Fairness
By its nature, the decentralized world is immune to malicious players. Those who use them consider DApps trustless. This is because each DApp is self-governing. This helps to ensure that the rules are open to all. It is impossible to forge a move with the blockchain, which will ensure provable fairness to gaming.
• Play To Earn
With smart contracts, players can take part in games where they earn assets, which they can then sell for crypto or fiat.
• Interoperable Economies
The blockchain makes it possible to create a standardized economy where apps can build a network of goods, rewards, and players. Thus, players are able to move between the gaming economies with few issues. The in-game items are tokenized items that can be traded or converted for another crypto. In essence, the entire gaming world could be connected by the blockchain.
• Mass Collaboration
The value of the blockchain games is at the protocol level. These games will be open source with the value being in the in-game items. This will allow players to modify games in new and interesting ways.
What Those In The eSports World Feel
While there is a lot of enthusiasm in the crypto world about the potential that blockchain tech hold for gaming, those in the esports world are skeptical. They do not believe that it has any potential. In fact, many think it is merely a money grabbing scam.
Only time can tell if the goals of many blockchain gaming organizations will go mainstream. Despite this, they have at least begun the conversation of in-game assets and their true ownership.