Ethereum, the second most famous cryptocurrency after Bitcoin, has proven to be much more versatile than most digital currencies. So much so, that several of its protocols have been adapted to meet the needs of an industry that is increasingly related to digital tokens: video games.
The protocols of Ethereum multiply with great speed. Due to this, some have been able to adapt to operate in the gaming sector. In particular, there are two protocols that can be the key that revolutionizes the world of video games.
These ETH protocols would give each game the potential to become an open economy, where users are able to buy and sell items or "items" within the game; The big difference, is that the gains obtained within the game can happen to reality.
The cryptocurrency platform in question, which is based on Blockchain, has a feature called "Smart Contracts", which allows it to execute programs as they were configured. The "Smart Contracts" are part of the secret by which Ethereum can be used to meet different objectives, although the most common so far is that of issuing tokens.
At this point, it is important to clarify that each type of token is governed by a different protocol, which determines its interaction with the rest of the Ethereum network. This is where the games make their appearance, since two types of tokens have been increasingly used in this industry.
The first one is the ERC 20, or "Ethereum Request for Comment", it is the most used protocol to issue fungible tokens, that is, those that are used as means of exchange. These are usually used to buy items within the games.
Then there is the ERC 721, which is presented as an alternative to the previous protocol. Unlike the ERC 20, the tokens of the ERC 721 are non-expendable; This means that its value depends on the item being negotiated.
For example, when collecting letters from an album, one that is difficult to find has a value totally different from that of a common one. This is based on the principle of non-fungibility.
A clear example of this is the popular blockchain based game, CryptoKitties, where each token represents a collectible single kitten, so the value of each item changes depending on its characteristics.
What is the great revolution?
The video game industry has been characterized by being extremely centralized, where users are limited by the borders that the companies that develop the games place. Therefore, it does not matter that so many hours have been spent finding an item, it can not be sold or moved to another platform; Even, most likely, it ends up deteriorating and losing its quality in the same game.
However, the ERC 721 totally changes the panorama. This protocol guarantees that the player can keep their collectible items, as well as certify that it is unique in its type.
Another advantage offered by this protocol is to give the opportunity to exchange the items without restrictions, which gives the user full control of their object. This opens up the possibility of opening a new parallel market where each digital good can become an asset for its owner.
The possibilities that the Ethereum network offers to the world of videogames have barely begun to be explored. The speed with which the technology advances allows us to predict that the ERC 721 tokens and possibly new protocols developed by the network create a new reality for videogames that can even be used for other industries.