Gaming is the fastest-growing form of entertainment in the world with revenues increasing globally at around 9.7% per year. Video game revenues totaled $139 billion in 2019, and the market is estimated to be worth nearly $200 billion by 2022. Such development is being accelerated by the introduction of blockchain technologies into the industry and the growing application of virtual and augmented reality.
The merger of blockchain and virtual gaming is giving new perspectives for the gaming industry, allowing games to become more immersive and provide more vivid experiences to gamers.
VR has spawned a new level of interaction in gaming and its merger with blockchain is a natural move towards bringing cryptoeconomics to the virtual world for fairer gameplay and greater interaction.
Gamers are increasingly complaining about the advantages that wealthier users have in the gaming world as a result of greater access to exclusive in-game purchases.
The blockchain is being called upon to make this access more cross-board, giving users with less real-world money the chance to make crypto revenues and spend it within games. With gamers also complaining about the slump in the quality of games from leading publishers and developers like Bethesda, decentralized platforms could breathe new life into games and detract attention from their money-making purposes for corporations.
The inclusion of a more diverse user base means that blockchain ecosystems can grow and develop more rapidly.
One of the more shining examples of the progress blockchain-based games have made since the advent of their first generation of incarnations like Cryptokitties is the Age of ILCOIN: Retribution game – a twenty-year leap from Tamagochi style basic playable games to the world of Virtual Reality.
AoI, the first iteration of the game, gave users the chance to experience in-game purchases and a cryptocurrency themed game, while AoI: Retribution further drives gameplay by adding VR as a set format. First-person shooting and a semi-open world give users greater mobility and expanded use in-game that is the true mark of blockchain functionality within videogames.
AoI: Retribution is a joint development of the ILCOIN and SYDYG development team, SPECTER, FOKAGAMES and NEON SAVAGE. The core development team oversaw the creation of the main storyline and characters.
The game is already available on the Steam gaming platform and on the Oculus store, and the ILCOIN team is in talks with companies to adapt the game for consoles.
With the VR and gaming markets providing ample opportunities for visualization of exciting gaming experiences on the blockchain, AoI: Retribution is aiming to make full use of the combined power of the technologies and offer gamers a unique mix of a fair internal game economy and compelling storyline built on the basis of engrossing gameplay mechanics.
AoI: Retribution was designed with the best aspects of its genre at heart and is set to combine multiple elements of the best titles on the market to give players hours of gameplay.
The ILCOIN development team is confident that the gaming market provides great opportunities for those who provide innovation and those capable of giving new experiences to gamers.
As such, the project team is currently in the process of developing a line of other games and its roadmap includes the building of the joint future of VR games and blockchain technology with the Age of ILCOIN being the first step.