[UDC Report] A plea to moms: playing games can pay off
[UDC Report]-8 Digital assets in games that take time and effort to create could soon have real-world value through blockchain technology. Games that allow players infinite freedom in a limited environment and often require imagination and effort are called "sandbox" games. These games give users a near-god like status, allowing them to make buildings and even create something of their own by combining existing game items. For example, Minecraft gamers can build items within the game. Users are able to create a version of the game that the original developers couldn't imagine. Creations locked up in the sandbox Although sandbox games fulfill the creative desires of gamers, there is one major limitation: the creations stay inside the game. Newly crafted items cannot be saved in the game's central database, staying within the user's game, and cannot be sold. Massively Multiplayer Online Role-Playing Games that surfaced in the mid-2000s are similar to sandbox games, however, they succeeded in translating the marketplace of items within the game to have real world value. Digital assets start to have real-world value Socio-economic activities within games can now translate to actual value through Non-fungible Tokens (NFT). Limited items within games can be converted to such tokens and their rarity gives them more value. For example, CryptoKitties is an Ethereum-based game that allows users to create digital cats. Each cat has its own original identity tag based on the Ethereum development standard ERC-721. This limits copycat cats in the game and, through blockchain technology, users can prove their ownership of the cat as it is recorded on the blockchain, which cannot be forged. If a user creates a unique cat, they can sell the cat to other users with Ethereum tokens. As the tokens can be converted to real cash through exchanges, we have now reached an age where digital cats are up for sale. Into the real world Online assets and the work put into to creating them can now be translated into real-world value through NFTs and cryptocurrencies. “One of the areas where blockchain can be best utilized is digital recording and proving ownership,” said Son Woo-ram, CEO of Reality Reflection, a developer of augmented-reality (AR) game Mossland at the Upbit Developer Conference (UDC) 2019. “Areas that weren’t thought of as assets and the time and effort that was put in now can be given value,” he added. Mossland issues NFTs on buildings in the virtual world. The buildings are sold on its auction program, which became famous after professional StarCraft player Hong Jin-ho took part. The program also boasts the highest number of transactions among all global decentralized applications (DApp). Mossland also released “The Hunters” game early this year, which shows buildings and landmarks on the map through GPS and users try to find the building using the GPS. Beyond the real world and into virtual reality It is also possible to convert objects with real-world value into assets in games. Superbloke, introduced at UDC 2019, operates “FC Superstars,” a blockchain-based football card collecting service. The service develops real-world players based on their actual match performances and records. Users can select the football players to play games and can even own them as a digital asset. As the players are real people, the service signs an intellectual property contract with the teams. Lamda256, under Dunamu, currently provides technical assistance to FC Superstars and is planning to help establish an NFT marketplace. The combination of blockchain and games through NFTs give value to items in the virtual world. NFTs can eliminate the disparity between the real and virtual world and also put a price on items in games that was previously not possible. ※UDC 2019 videos and presentations can be found at https://udc.upbit.com/program/detailed_program, also the full report can be found at https://static.upbit.com/reports/udc2019_report_en.pdf. This report was sponsored by Upbit, and the information in it is based on the Upbit Developer Conference held at Grand Hyatt Incheon on Sept. 4 and 5.