Game industry is primed for blockchain tokenization
Prime for blockchain / tokenization
Game & Social Network – are areas where the value of tokenization can be readily unlocked. Gaming as an industry bypasses current regulatory restrictions (imposed to cryptocurrencies/blockchains) and already has a large adoption/user base. This suggest a massive untapped growth potential for Eden. By focusing on gaming DApps, Eden will be able to sidestep regulatory requirements and focus on tech development and adoption.
Korean gaming industry takes up ⅕ of global market share
Global game market is projected to grow rapidly
We identified the Korean gaming industry as an indispensable growth driver of the global gaming market. Gameplay items, or “tokens” have seen massive growth despite a maturing gaming market. This signals the expanding potential of gameplay assets that can synergize with blockchain security or crypto marketplaces.
As a Korean blockchain project, Eden is well positioned to tap into the growth of the local gaming industry and provide tokenization or a trading economy.
Gaming as a Starting Point
DApps that can adapted to other use cases
Our research has shown that gaming DApps provide an excellent testbed for blockchain adoption. It has a global audience which is coincidentally, similar to the current crypto demographic. This means that EdenChain will be able to tap into our existing support base for adoption.
Enterprises, who generally need a complete business and technical solution, will have the unique opportunity to experience “first hand” our DApp and platform capabilities. This offering is unique vis-à-vis our competitors.
In addition, games will allow EdenChain to experiment different with coin utility, “game-nomics” and marketing strategies without the burden of regulatory concerns. All these will be fruitful experiments to help in the design of future DApp utility for our partners.
Game provides good experimental environment with huge market potential
There are many ways to adopt tokenization in gaming platforms. The common use cases are formed around game play, game items and trading of assets, etc.
In Eden, we find the greatest token utility lies in web board games categories, where it can be used across betting, gifts, items, probability, etc.
Therefore, our first gaming DApp will be a web-board based game.
Web Board provides biggest token utility
Web board gaming can be implemented in a short period (in 1 or 2 months) allowing our in-house developers to quickly refine platform usability and scalability issues while developing new solutions to improve stability and performance. EdenChain will be using these applications as a springboard towards teething issues for enterprise adoption. A successful web board DApp will be able to generate attractive token usage, utility and marketing which could be used to reward token holders.
Web Board can be easily adopted and receive feedback
Gaming DApps challenges the 2 major limitations in current blockchain’s capabilities: scalability and security.
Popular games will likely run into “high traffic” due to high number of users, transactions or clicks. Security issues will intensify as hackers may compromise the games to “cheat” or simply to plunder funds from wallets.
Eden is a high availability platform that is scalable and secure. A viable and successful game product will be a complete platform to showcase Eden’s high scalability and security, which can be adopted to different industries, such as IoT, Energy and Content.
Gaming will be the first designated use case for Edenchain, and we plan to adopt this knowledge to other industries in the near future.