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Blockchain’s continuous expansion has propelled it to the realm of the gaming industry. Since then, fledgling and established companies have tried to integrate the technology into their own platform to draw in gamers and investors alike.
In a recent announcement, one of Japan’s biggest internet providers, GMO Internet Inc., said it is planning to launch a Bitcoin-based app as a means to reward gamers, according to Cointelegraph. Called CryptoChips, the app will serve as a platform to incentivize players for completing certain missions and challenges.
The digital tokens will be first applied to the GMO-developed real-time competitive game "Whimsical War." The Japanese internet giant said that CryptoChips was created as a means of payment for players that will be delivered through the gaming app, with the tokens debuting in August.
“CryptoChips can be mounted on the game application and allows players to receive cryptocurrency as remuneration within the game – like a ‘secret pocket money’ – depending on the players’ rankings or when players have achieved missions or acquired items,” the company said in the statement.
This is GMO’s latest venture in the crypto market. The company is already running its own crypto exchange and mining enterprise, and even partially uses Bitcoin as remuneration for their employees.
This is but one of the many companies across the world trying to leverage blockchain tech to create platforms as a form of reward system geared towards gamers. One of the biggest players in this niche is Play2Live.
Several weeks ago, P2L concluded its "Hearthstone" tournament following its successful Counter-Strike Global-Offensive event where the champions received $100,000. What makes P2L among the top-tier platforms in this gaming niche is that users can take advantage of 15 different forms of revenue sources, with content creators able to monetize their work in 11 various ways. Other services in this industry only have four or five of these options.
