Virtual F1 Car Sold for $100K: Blockchain Gaming’s Dawn

Spread the love

When people hear about blockchain gaming, there’s really nothing except crypto kitties that people can think of.  When it comes to gaming and its growth, blockchain games are ages behind. The new F1 Delta Time game, hopes to increase the interest in blockchain games with its recently sold $100K virtual F1 car.

A little over than 15 years ago, worldwide gaming competitions had total price pools of about $50K. Gaming and esports have intensively grown in popularity since then.

Streaming has also become a very profitable career for popular gamers and/or retired pro players. One Hearthstone streamer, even received donations worth 20BTC over the course of a single stream. With the current bitcoin price, that’s over $172K in one single stream.

The virtual F1 car had a lot of bidders

So, this virtual F1 car was bid on in Wrapped Ether. The last call made was 415.9 Ether which is a little over $110K with the current prices.

This is where blockchain gaming begins to differ from mainstream gaming. While still in a very early phase, blockchain gaming introduces the concept of non-fungible tokens.

The tokens allow players to hold an actual stake in the entire chain’s value. This inevitably leads to the creation of markets which gives value to the amount of time players spend on the game. Unfortunately, this ties blockchain games to the Pay-2-Win (P2W) concept that is very disliked in mainstream gaming genres, especially MMORGs.

This virtual F1 car is a very extreme example.  There aren’t many players who are willing to spend $100K on an in-game item. In order for the player to have any chance of winning back those funds, the game has to see an immense rise in popularity.

Many aspects of entertainment could eventually incorporate blockchain elements. Access to monthly subscriptions could be sold if the client gets tired of it. Additionally, smaller systems can be created for sub-leasing in order to suit individual client needs.

Streaming and streaming services in general are already making waves. Amazon and Apple are the most reliable services at the moment and each of them have many different services in their respective platforms.

If people are willing to pay $100K for a virtual F1 car in the dawn of blockchain gaming, what can we expect 20 years from now?

Know More:

The post Virtual F1 Car Sold for $100K: Blockchain Gaming’s Dawn appeared first on CoinStaker | Bitcoin News.

Related posts