Blockchain technology as another revenue stream model
Crypto and it underlining blockchain technology in general is moving from proof of concept to real world application. A good example is is how Walmart tracks food with blockchain technology. Facebook recently announced moving to a blockchain technology to make there platform more secure. Personally I will probably use some other emerging social platform built on blockchain. The point is Blockchain Technology is coming.
Enjin just announced a partnership with Samsung and in the same week announced their SDK with Unity in going live on march 15th. VR uses Unity for their Pantheon game engine. What I don’t want is to have Pantheon items to be melted down and transferred into Crypto-Kitties. However the ERC-1155 standard is no joke and can solve problems and I want to talk about it.
What is enjin coin? COO of Enjin Lilia Pritchard explains
VR can use the Enjin blockchain without allowing players to transfer items out of the game into personal wallets. From what I have research, VR could mint their own ERC-1155 token and set value for it for this example let say 1 enjin coin = 1000 VR plat. This is all hypothetical so my point is not to do number crunching, just establishing some form of value. VR owns their coins, they don’t belong to players. Just like all your loot in EQ/EQ2 ..or whatever, is not yours, you stop playing all your gear remains in game.
Why do it? VR can serialize unique items and track them. Though I can’t quite explain it but from what I read it can prevent 3rd party sellers. They can offer players incentives and discounts by melting items into credits towards of VR products and services. Essentially removing items from the game and use it as another tool to control the game economy.
Also as the value of Enjin coin goes up, so does the value of “VR-Plat” Enjin is at $.20. In a year it can easily be $1, now there is charge to mint your own coins, but your also using the blockchain to track and secure a lot of game information. They are leveraging the technology in a way that saves manpower hours trying to develop and maintain a different solution.
But basically the 1000 VR plat goes up with the price of Enjin coin. I am not suggesting let the player remove assets from the game. What I am suggesting is VR needs to stay profitable to keep Pantheon alive long term. The VR-plat becomes equity. So a rare sword could be worth 1000 VR-plat ($.20) or 10,000 VR-plat ($2.00). VR would control that. The VR-plat turns into a a savings account for VR based on the value of the Enjin token.
If I got any of the facts wrong that’s fine, cause there is a lot of conjecture on my part. I am not a ERC-1155 architect. There are probably a lot of great advantages I am not aware of. And some pitfalls I am not aware of.
I am kind of surprised no one has an opinion on the topic of block-chain technology. It will be the next technology rise since " dot coms".
From what I understand now about blockchain technology is that it is not specific to currency or coinage. That bitcoin touts using blockchain does not associate blockchain with currency value. This makes sense in why walmart would use it to track items as that si what blockshain is good for- tracking from start to finish what was made/done, who touched it next , who it got passed to or transferred to every step of the way. Carfax could be blockshain technology just by firtue of the VIN- whreas the monetary transaction is seperate. Blockshain may also be able ot track the amoutn spent on each exchange as well but is not a point og value itself. My understanding is blockshain provides information that can be useful, so no more "fell off the back of the truck" stuff. Couple this with FBI clawbacks that they do for ponzi schemes, and once you buy that TV from the white van in the parking lot and once you attach cable- the cable service provider ID's the TV send that information and FBI sees it, knows its stolen property, and comes as seizes it from you and demands your compliance (under penalty of whatever) to identify who you bought that TV from. As a result, no more insurance. Its not needed for business with the exception of property damage replacement.
Elrandir said: This isn't a valid application of blockchain technology, which is probably why you're not seeing any opinions on it. VR implementing something like this would impose a monetary pressure to add/ remove items from the in-game economy based off the valuation of an external currency? That makes no sense and could only be harmful to their product in the long run.
I would have been nice if you could have offered some of your research on Enjin coin and the lack of validity. The lack of interest is basically just the fact that Blockchain technolgy is still very new. It is high risk / high reward. Enjin Unity SDK is out.
If they have the level of control to mint and control their assets without granting player ownership, then it just a unique item inventory system. VR sets the value fo an item they have full control. Yes they are spending some seed money upfront for minting a VR coin. but it what you do in cryto, you buy and hodl.
Pantheon being a different MMO, could be looking for answers in 5 years on how to increase interest in the Pantheon world. As Block-chain Techology Industry and the "Gaming cryto space" grows, the enjin blockchain market could be pulled into Pantheon lured by item ownership. Sure you could have player interesting in melting down there rare items into Enjin coin and leaving, but in an item centric game, I see VR tapping into the Enjin market that will be well established.
If it doesn't work out, then they are out the seed money they used to mint, but I don't see it losing value. The Blockchain market is only going to grow.
Caine said:I would have been nice if you could have offered some of your research on Enjin coin and the lack of validity.
Hi Caine,
Sorry if my initial post came off as harsh, it wasn't intended to be. I haven't done any research into Enjin, what I was saying is not a valid implementation of blockchain is the purpose you were suggesting.
Caine said:Why do it? VR can serialize unique items and track them.
The whole purpose of blockchain is to track and validate transactions without a centralized source of authority. But VR *is* the centralized authority when it comes to in-game transactions and they would have no need to mint items as Enjin coin as they already log every transaction that takes place in Terminus. The introduction of blockchain technology would add no value and introduce unnecessary overhead.
Elrandir you not coming of harsh. I think block-chain technology is very new to everyone it not easy to form in informed opinion on the topic. Your are right about the decentralized nature of block-chain technology. But that is not my point. My point was another revenue stream for VR.
I had around 550 bitcoins I remember roughly sitting in a wallet I bought at around $1.60 for stuff...
that computer fried and i lost the wallet long before it even hit $2.. I think it was actually at a lower price than I bought it. I was more pissed I had to buy a new PC than any thought about the bitcoin until years later
i was crying during the boom. felt like I lost a winning lottery ticket.
Just thought id like to tell the story and go cry again.
my teacher also told me to buy google stock and I said ‘I know right?’ When people would rather ask Jeeves or use altavista, But I was saving to buy a car.
i have won $80 on a scratch off once so my life hasn’t been a total failure