On Ludos Protocol, Gamers Actually Own Their Items

Ludos Protocol is designing a gaming economy that will improve gamers’ experiences in ways they weren’t even aware of. As the industry pivots to blockchain-based business models in the coming years, Ludos is already introducing features that allow players to take full advantage of their in-game valuables. This will guarantee that the space grows on a path where decentralization actually favors them.

Every gamer knows how it feels to grind endless hours for a coveted item, skin, in-game currency, or even a title in recognition of their achievements. These assets are of great value to them. However, many become disappointed when a game operator arbitrarily decides to issue rare items en masse, create new top-tier equipment, introduce severe inflation, or alter the statistics of game characters to the detriment of players’ collections. It’s as if they have no real ownership over the fruits of their hard work. Even blockchain wunderkind Vitalik Buterin has shared how similar frustrations with the MMORPG World of Warcraft influenced his early work.

Even worse, players have a hard time transferring the value they’ve created from one game to another. After deciding to switch to a new game, they often have to start from scratch with no way to transfer their productivity in the previous game. There is no universal token or any way to transfer their skills, let alone trade goods they might have no use for anymore. A lack of better options has sometimes resulted in a virtual black market where gamers resort to alternative ways of transacting that aren’t always secure or transparent. This is currently one of the most underserved areas in the gaming industry, with a real demand that could be catered to by services such as LUD Pay and other features of Ludos Protocol.

The development of what Ludos Protocol calls an incentivized DApp ecosystem will create these and other new economic possibilities for gamers who participate in it. Some of the most important include:

Game assets management wallet

Gamers will retain full control of all their digital assets through an ownership mechanism that bypasses game operators. This is possible thanks to blockchain technology’s ability to create something called non-fungible tokens or NFTs. It means that a player will have a single wallet to store any currency, item, skin, or title regardless of the game where they were earned.

Decentralized game assets exchange

These same unique, non-fungible assets will be traded in a decentralized marketplace. Here, gamers interact in a peer-to-peer fashion to find a varied supply of other players’ in-game collectibles as well as demand for their own. More so, their authenticity will be guaranteed by smart contracts that prove their provenance.

Decentralized game distribution platform

This feature implies massive changes for the gaming industry as a whole and there are important aspects of it that improve the experience of gamers specifically. The most salient of these is an unmediated relationship between game developers and the gaming communities that enjoy the developers’ products.

On Ludos Protocol, gamers can support their favorite games through crowdfunding. This model increases their engagement with developers who will respond directly to wishes and concerns about the game. The Ludos Protocol economy runs on its own LUD token, which enables fast and secure payment networks between the two parties.

It won’t be surprising to see small and independent developers flee to Ludos Protocol. The move would make economic sense since they would no longer have to cede equity to venture capital funds. Gamers will notice the benefits of this new business model as the platform becomes increasingly populated with high quality, crowdfunded games.

Ludos Protocol is a forward-looking effort to put gamers first by giving them full control of their assets and an increased participation in the development of the games they love. At the same time, it is one of the few blockchain use cases that satisfies an immediate need. The DApp ecosystem developed by Ludos Protocol is a novel workaround that brings security to the operations already taking place in the gaming community. A decentralized gaming economy is the logical next step for the gaming industry.

About Ludos Protocol

Ludos Protocol is a purpose-built blockchain infrastructure project for the gaming community. As only the third blockchain project to be backed by Japanese investment giant Softbank, Ludos Protocol addresses numerous shortcomings in the existing gaming landscape. Its main chain + multi-sidechain architecture allows games to run entirely on their own blockchain, preventing scalability issues that have plagued previous blockchain-based games. Additionally, the Protocol seeks to create a gamer-friendly ecosystem whereby game developers and gamers can come together to easily crowdfund and build on the platform. The use of non-fungible tokens (NFT’s) within the ecosystem will allow gamers to swap assets in one game for assets in another. Finally, through their partnership with FullPay Japan, Ludos Protocol will give gamers the chance to use LUD tokens that are earned in-game to shop and buy at a range of retail stores in Japan and later the world.

Ludos Protocol Links

The post On Ludos Protocol, Gamers Actually Own Their Items appeared first on Bitcoin Garden.

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