Blockchain and virtual good assets
We now live in a world where the most valuable assets are no longer physical. While virtual assets have been in existence for years it’s only recently that these digital goods have emerged as a new asset class. Blockchain and virtual good assets.
Now with the combination of blockchain technology virtual assets have the opportunity to no longer be limited to traditional use cases such as gaming.
In today’s sharing economy as more assets, both physical and virtual are tokenized a new kind of protocol is necessary to ensure security, transparency, ownership, liquidity and shared use.
Blockchain technology is changing different industries and the $100 billion gaming industry is no exception. Blockchain is here to change many aspects of video games that billions of people around the world are playing.
Virtual asset market
One of the benefits of blockchain technology in gaming is that it will increase the value of these virtual assets. By making digital in-game purchases rare and unique with cryptography, the community of gamers will create a virtual asset market. Some of the ways DLT will do this is by:
- Providing gamers a way to use virtual items in and out of games will increase their value.
- Creating platforms that will allow a gamer to sell the items for fiat will also increase their economic value.
- Building a healthy marketplace for items will increase their social value.
All of this will change the name of those items from virtual items to digital assets.
Blockchain will make the purchasing of items and games faster and will ensure the payments are secure. Developers face many issues selling their software outside of app stores, which leads to huge commission fees and loss of control over the customers. Additionally, blockchains enable micropayments which allow developers to receive direct payment and enable them to make a larger profit margin.
A new era of investing
Blockchain projects like Naga give developers APIs that make it easy to digitize in-game items and other non-tangible assets and make it possible to trade them outside of the game or virtual environment. Such functionality tears down the barriers between investors and those with investable value, making tools like Naga Coin a good token to hold in one’s portfolio, complementing traditional investment assets like stocks and bonds.
In the very near future, one will be able to profit from their work in reality and digitally in equal measure and without limitation. Strong infrastructure for virtual asset trading will encourage more growth in virtual assets themselves. As inputs of all kinds are increasingly able to also produce outputs, innovative blockchain companies will be the ones to help people invest in them.