A new blockchain based online gaming company has answered the calls made by millions of online gamers by offering a platform that allows players to resell games they have already purchased.
It is true that when we touch on the subject of online gaming, the name Valve always seems to show up. That’s because the software gaming provider has become a household name within the online gaming industry via its Steam application.
In an earlier report here on The Blockchain Land, we mentioned how Valve is competing with the Blockchain and how the gaming giant needs to start to embrace what seems to be the inevitable takeover of online gaming by Blockchain tech.
The company offers players the chance to purchase online games using its Steam application. Those games can even be shared with friends that also have a Steam account, but there is a limit on how many people it can be shared with. Game sharing is a great feature, but there are still some issues with the way Valve’s Steam app deals with ownership.
Buying a Game on Steam Does Not Give the Account Holder Ownership
Once a member has purchased a game on Steam, it may seem like the account holder now owns that game, but actually, this is not the case. The game is stuck on Steam, and it cannot be resold. The only flexibility that players have is that it can be shared with a limited number of people.
Back in the day when PC and console gaming first hit the tech industry, people used to buy a game and they would physically own it. The game would come in a box with a CD much like the games we see played on consoles like PlayStation. The advantage of this is that once the gamer has finished playing the game, he or she can resell it to a friend on Amazon, eBay, or wherever sales channel he or she sees fit.
Blockchain Tech Start-up Robot Cache Gives Gamers Full Ownership Rights
Not being able to resell a game that has been paid for does not seem fair. It was inevitable that a blockchain start-up would eventually give gamers a solution to their woes, and Robot Cache provided the answer. The platform uses blockchain based technology that puts the ownership of any game purchased in the hands of the buyer.
Since online gaming has taken the World Wide Web by storm and technology has advanced, everything is becoming more digitalized. For example, we used to take pictures and process Kodak film, but now people store their photos on digital devices. There is currently no need for masses of paperwork and folders as documents and user manual are all stored on a hard drive or in a cloudscape. Even bank statements, cable bills, and telephone bills use digital invoicing these days.
This exact digitalization of goods has happened in the online gaming industry. The off-chain gaming companies such as Valve, Origin, Gog Galaxy, and Itch have never come up with a solution that solved the issue of ownership of the games their members purchase.
Now with the emergence of Robot Cache, it could be too late for the likes of Valve to change since Robot Cache literally puts the digital asset into the hands of the buyer.
Robot Cache Smart Contracts Govern Online Game Ownership
Digital assets are a key blockchain feature nowadays. Putting ownership in the hands of the individual has become a fundamental concept of disruptive technology – you can read more about how an individual can digitally own their medical records. Now the idea of digital asset ownership by the use of smart contracts and a private key is possible with online games.
Players purchase their game using the Robot Cache platform in the form of IRON tokens.
- A smart contract is opened when the buyer confirms an intention to purchase
- The buyer provides his or her public key
- The seller provides a public key of their own
- Both the game and tokens are placed inside the smart contract
- The smart contract completes the transaction
At step 5 of the smart contract, tokens are passed to the seller and the game to the buyer. The buyer then has the game stored under his or her private key. This also means that when the buyer wants to sell that game, he or she will need to find a buyer or advertise the game as for sale on Robot Cache’s platform.
Gaming Developers and Game Distributors Pay Just 5% Commission
On platforms such as Steam and Origin, every game purchased is charged to the developer or the distributor at a rate of roughly 25% commission. On Robot Cache the percentage is only 5%.
Valve: $100,000 Gaming Sales = ($25,000 Valve) + ($75,000 Game Distributor)
Robot Cache: $100,000 Gaming Sales = ($5,000 Robot Cache) + ($95,000 Game Distributor)
If the Robot Cache platform goes viral and becomes as popular as it looks like it will be, then the company will have truly revolutionized the way in which the online gaming world operates. The way in which the company deals with ownership of games via smart contracts is similar to the concepts being used so online gamers can own other digital gaming assets.