Mike Fiuk on Warpcast

Content pfp

0 reply

17 recasts

17 reactions

Mike Fiuk pfp

Gaming is one of the best applications of blockchain technology today. A common view is that Web3 & blockchain tech are solutions searching for a use case. That's frequently the case. But gaming is a natural fit for the actual value prop of blockchain tech. How? (1/x)

3 replies

1 recast

7 reactions

Mike Fiuk pfp

Blockchain technology actually solves many of the pain points gamers have experienced for years / decades. Namely, gaming enabled by blockchain tech unlocks: ✅ Proof of Ownership 🤝 Ease of Transferability 💰 Monetization ⚙️ Composability 📜 Immutable Record

2 replies

0 recast

2 reactions

Mike Fiuk pfp

Before looking at the value add, it is worth asking - is gaming even broken? Does it need a better solution? The answer is unequivocally yes. Look at RS gold farming, selling of CS:GO skins on illegal marketplaces, and the broken promises around asset longevity (CoD, etc.)

1 reply

0 recast

3 reactions

Mike Fiuk pfp

Gamers will jump through hoops & deal in black markets to participate in an economy using their in-game assets & deserve to know if their assets have a future. Rather than escaping existing structures to do this (gold farming), blockchain can create the organic infra for this 🧠

1 reply

0 recast

2 reactions

Mike Fiuk pfp

So what does blockchain unlock? ✅ Proof of Ownership In-game assets & gear on-chain creates a verifiable way for a gamer to know assets belong to a particular character or account. And, critically, that they're entitled to the benefits & use of said assets.

1 reply

0 recast

2 reactions

Mike Fiuk pfp

No need to worry about exploited items or "fake" images or stats. The proof is stored securely on the blockchain and I can verify you own said asset. Proof of ownership is critical for transfers too - I need to be sure you own the item if I want to purchase it off you.

1 reply

0 recast

3 reactions

Mike Fiuk pfp

🤝 Ease of Transferability Gamers spend tons of time and take significant risk trying to transfer items outside of existing systems. Gold farms, illegal third-party marketplaces, high risk peer-to-peer transactions, etc. You name it, gamers have tried it.

1 reply

0 recast

2 reactions

Mike Fiuk pfp

If you "own" an item/currency in a game, you want to be able to trade it or sell it It's a simple concept, but difficult in today's closed-universe games Blockchain tech creates inherently transferable digital assets, with underlying standards (i.e. ERC) providing the framework

1 reply

0 recast

2 reactions

Mike Fiuk pfp

💰 Monetization In addition to trading assets, many gamers would like to be able to sell (and buy!) gear, mounts, and other in-game items for value outside of the game world itself. Just look at the (virtual) gold-mining industry - billions spent in 2021 alone 💸 💸

1 reply

0 recast

2 reactions

Mike Fiuk pfp

Blockchains often have the built-in utility of a native protocol token. Think ETH for Ethereum or $MATIC for @polygonnetwork. This creates a liquid monetization option for assets & items stored as NFTs. Gamers don't have to circumvent the system to sell items - it's inherently built-in.

1 reply

0 recast

2 reactions

Mike Fiuk pfp

⚙️ Composability Gamers love crafting - items, armor, vehicles, weapons, etc. It's a huge part of many game ecosystems and plays a prominent role in RPGs and MMOs in particular - which are some of the most popular genres of games.

1 reply

0 recast

2 reactions

Mike Fiuk pfp

Rather than worrying about what a studio or a specific title will allow, blockchain enables crafting at the root layer. The assets themselves are composable, and have set parameters for what can be changed. The possibilities are defined on-chain, not by every 3P preference.

1 reply

0 recast

2 reactions

Mike Fiuk pfp

This also unlocks a world of possibilities for building on top of existing assets. A sword, with speed & damage criteria built-in, can have a unique class or trait added in another universe. Permissionless composability, while retaining the original values - think Loot or @lootrealms.

1 reply

0 recast

2 reactions

Mike Fiuk pfp

📜 Immutable Record Blockchain allows all of this to be stored on chain, in a record that can't be wiped or overwritten by a subsequent release or patch. Your assets, items, and in-game stats & achievements can live forever. Yes, even that time you carried your entire LoL team.

1 reply

0 recast

2 reactions

Mike Fiuk pfp

This unlocks a world of possibilities, but critically helps protect the history and culture of games. No more being at the mercy of the game studio or publisher. If it happened in-game, it will live on on-chain. Forever.

1 reply

0 recast

2 reactions

Mike Fiuk pfp

What does all of that mean for gamers? Gaming is the most obvious use case for blockchain tech today. Rather than being fearful of it, more gamers should embrace the possibilities it unlocks & the value it adds (like Zynga). True utilization of the tech, and truly better games.

1 reply

0 recast

2 reactions