Gaming Tokenization and Carrier Billing – The Easiest Way to Purchase and Play?
22 June 2021
Blockchain games is one of the fastest growing mCommerce verticals and allowing players to sell their in-game items to other players or use them in cross-platform play via tokenization can empower players and increase engagement.
We explore how carrier billing can add another layer of convenience with in-game assets charged directly to a player’s mobile phone bill. The result is uninterrupted gameplay, even for players who don’t have access to traditional payment methods.
More than ever, people across the globe are exploring alternative ways to access products and services and the rise of blockchain technology is driving a new wave of innovation.
Tokenization, where account details are replaced with data useless to fraudsters is on the rise, and Juniper Research reports annual revenues from tokenized mobile payments will exceed $40 billion by 2024.
Non-fungible tokens (NFTs) stored on the blockchain are being used in entertainment, sports and real estate industries and could have a big future in gaming, with NFTs revolutionising the way gamers think about online gaming and in-game asset purchases.
Traditional purchases of in-game virtual items on mobile and console is restrictive for players. In 99% of titles when a player buys an in-game asset (such as weapon, armour, or avatar clothing) they don’t actually own it. It remains locked in a virtual environment, only licenced for use within the game.
But what if the player could trade or sell these items to other players, or transfer them between gaming environments? This is where tokenization comes in. Games can use the blockchain to allow players to actually own the items they buy as ‘crypto collectables’.
Assets are tokenized, registered to the player on the blockchain and are theirs to keep (or sell if they wish). Liquid assets are favourable to players and generate a greater sense of engagement and are also more secure as each asset generates a permanent blockchain record upon purchase.
Tokenization and eSports
Asset tokenization could also attract a whole new wave of investors while simultaneously unlocking benefits for the world’s 2.5 billion gamers.
Teams, players, brands and practically anything else can be tokenized. This has the potential to encourage new investors in the eSports industry, while bringing fans closer to their favourite teams.
Blockchain technology can help eSports teams with new funding initiatives, sponsorships, tokenized-merchandise sales, contracts and more, which could potentially allow fans and other investors to partially own the team.
The Role of Mobile Operators
Games such as Blockchain Cuties and Axie Infinity are already adopting this new way to play. But with the rise of blockchain games comes a unique opportunity for mobile operators to help make blockchain-based content and crypto currencies mainstream, with carrier billing having a crucial role to play.
In-game assets don’t have to be bought with crypto currency, buying crypto can be puzzling if you don’t know what you’re doing and unfamiliar players will be searching for alternatives.
Games such as Reality Clash are already allowing these types of purchases through credit and debit cards. But what about unbanked markets? Buying tokens via carrier billing could well be the answer, and what’s more, it will bring added convenience to players. After all, are virtual purchases really all that different from other types of digital content?
By assigning blockchain-based tokens to in-game assets game developers can offer an increased sense of value, utility and longevity in purchases, empowering players and increasing engagement.
Adopting a simple payment solution such as carrier billing for in-game assets can streamline the entire process with added convenience, making it easy to purchase and play time and time again.
Get in touch with us today and find out more about SLA Digital’s carrier billing solutions for gaming.