virtual pets and monsters, so they actually had a viable use as the core gameplay mechanics for both Cryptokitties and Axie Infinity focus on trading, breeding and battling (in the case of Axie Infinity) Kitties and Axies. That hasn’t stopped either of the games from crashing, though, especially the value of Axie’s cryptocurrency Smooth Love Potions, which is used to breed new Axies. Unfortunately, blockchain technology has been a casualty of the NFT crossfire. As the data (usually just the metadata, very rarely more) for NFTs is stored in a blockchain ledger, many people see NFTs and blockchain as being completely indistinguishable. Ultimately, this means that when people think about blockchain, they also think about NFTs and immediately think, ‘oh, this is going to be a scam,’ or, ‘it’s going to create value that doesn’t have any utility.’
This is a shame, as there are plenty of viable uses for blockchain technology within the video game industry, especially as blockchain technology (when it’s used correctly) can be one of the most efficient ways of embracing the creator economy and ensuring creators get paid for their work.
Let me explain. The complex ownership structures and rights agreements that exist within the video games industry can make managing rights and royalty payments challenging. These processes are also incredibly lengthy. As an example, it used to take Microsoft Xbox 45 days to distribute royalties to its partners. Now, this process only takes four minutes, thanks to the Smart Contracts deployed through the blockchain technology they implemented back in 2020. So, Microsoft Xbox has been utilizing blockchain technology to ensure game creators are paid more efficiently, but mention blockchain to gamers in 2022 and the first thing that most people will assume is you’re trying to sell them NFTs or cryptocurrency.
Now that the NFT bubble has burst and the static
noise from crypto enthusiasts has dissipated, there’s an opportunity for the wider video game industry to tap into the full potential of blockchain technology and see its value. Current NFT standards are poor, and they’ve failed to evolve and expand their utilities over the years, utilities that are essential to make these digital assets relevant to game development. As it stands, the backlash from gamers toward NFTs is justified because they offer no use other than being a very expensive digital collectable. And with these poorly implemented uses of NFTs
out of the picture, I hope it opens up an opportunity for gaming audiences to educate themselves on the use cases for blockchain technology within video games, and understand that the words blockchain, NFTs and cryptocurrency can be completely separate from each other. Using decentralised systems will create a gaming environment for creators that provides ownership and the right tools to establish new forms of monetisation, independent of closed systems.
The long-term vision for the ecosystem we’re creating at Fragnova is to allow payments to distribute royalties to other people involved in game development through our improved contracts, such as artists and designers. One example of this will be seen through any mods that are sold through the Fragnova marketplace in the future. As well as the creators (directly or indirectly involved) of these mods being able to take payment, the original game’s creators will also take a cut of any mods sold that have been created for their game(s). Ultimately, we believe the future of the video game industry is in the hands of the creator community, facilitated by a decentralised asset store that allows them to trade scripts, 3D models, audio, games, in-game items and so much more. There’s a reason why companies such as Epic are rolling out creator tools for games like Fortnite; they recognise the important role that creators and developers play in shaping its future. We want to facilitate that same vision but at a wider
level through the Fragnova network, allowing everyone to access and share the tools they need to do this. Yes, this will involve blockchain technology, as it’s the most efficient way of not only keeping track of this information but ensuring the creators of these tools are fairly compensated. More importantly, it will prove that blockchain technology has a viable use within video games and there doesn’t have to be a Bored Ape or Doge in sight!
September 2022 MCV/DEVELOP | 7
Stick another NFT on the fire, lads, it’s gonna be a long night.
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