![]() ![]() ![]() One way to think about the emergence of blockchain is through Carlota Perez’s framework for technological surge cycles. As we will discuss, NFTs can offer several potential benefits to both gamers and developers. One of the most prominent use cases of blockchain technology for gaming has been the emergence of non-fungible tokens (“NFTs”). cryptocurrencies such as Bitcoin), decentralized finance (“DeFi”), and decentralized autonomous organizations (“DAOs”). These include facilitating stores of value (e.g. Since then, other blockchains, such as Ethereum, have emerged allowing for a range of interesting use cases. The idea behind blockchain technology was first described in 1991 and gained prominence when a person (or group of people), using the pseudonym Satoshi Nakamoto, used blockchain to serve as the public transaction ledger of the cryptocurrency Bitcoin. Simply put, a blockchain is a trust platform. This allows clients in a network to reach a consensus without having to trust one another. Most blockchains have a few key characteristics: 1) the past is immutable 2) they are transparent and open for all to see and 3) transactions on the network are verified and maintained in a decentralized manner. Before exploring the opportunity of introducing blockchain technology into gaming, let’s define what blockchain is and where we are in the adoption of this revolutionary technology. ![]()
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