How GameFi Is Changing the Interactive Entertainment Industry
Nostalgia elements in the crypto industry sound unusual, right? Not anymore. As a new chapter of the fairytale, Atari Chain, the renowned video game publisher, is stepping into the crypto industry. Soaking in nostalgia, Atari Chain aims to revamp the way video games are perceived by the multitude.
With decades of experience, Atari understands the concerns of the various actors in the video game industry at the grassroots level. Atari has returned with an innovation that uses blockchain technology and cryptocurrencies to eliminate challenges.
The Dire Need for Innovation and Incentives
Apart from more realistic graphics and improved accessibility, the current gaming industry has very little to offer its users. There are also negligible financial incentives for gamers. Furthermore, the small piece of the pie is once again concentrated in the hands of a few players in the ecosystem’s creamy layer.
One major reason for this is the gaming industry’s lack of standardized payment mechanisms. Compensation for the gamers’ efforts and time is scarce in the absence of a credible means of payment. Despite the fact that gaming is a multibillion-dollar industry, only a small percentage of its players monetize their game time. The gaming industry is shooting itself in the foot due to a lack of incentives for players.
Furthermore, the development and publication of video games are under tremendous strain. Game design and production costs are skyrocketing. A wide range of stakeholders is involved in the development process, from the designer to the back-end tester and they add up to a colossal overhead cost.
When these factors are combined with the rise of monetizable social media platforms and mobile games, interactive entertainment is on a downward spiral.
Crypto and Smart Platforms as a Fix to the Grave Concerns
Crypto and blockchain technology are potential solutions to fill the void in the gaming industry, and Atari is leading the way in this revolution with Chain Games, a blockchain-based gaming company. The project has introduced the Atari token ($ATRI) to bring financial inclusivity to the gaming industry.
Atari Chain aims to be the gaming industry’s one-for-all token, providing financial opportunities to all industry stakeholders. Moving on, Atari’s first use case is a crypto-casino where players can stake their cryptocurrency as a wager. With decades of experience, Atari understands the concerns of the various actors in the video game industry at the grassroots level.
Atari Chain is also working on giving players the ability to earn real-world money for their virtual game time and efforts. Tokenization of in-game resources, characters, skins, and similar assets can make them more easily traded for cryptocurrencies. This paves the way for the gaming industry’s growth and maturity.
To inject efficiency into the video game development process, Atari proposes smart contracts as the solution. By defining terms beforehand, smart contracts can facilitate testing and code reviews with immediate compensation. This removes the need for time-intensive paperwork and brings transparency to the fore.
For both smart contracts and in-game trading, cryptocurrencies, and in particular, the Atari Token will be the pivotal point. The revolution has already been initiated with popular game publishers and developers being negotiated to integrate Atari tokens into their games and services.
Insights into the $ATRI token; The Future of Gaming Industry
Atari Chain is working towards ensuring the Atari token will be recognized as the cryptocurrency of reference in the gaming industry. To realize this vision, the $ATRI token is being empowered with several utilities.
The end-users and gamers can use Atari’s token to conduct in-game microtransactions. Alongside, in-game digital assets will be represented with Atari as the token of value. It shall also be used to participate in Atari’s crypto-casino. For professionals working in the gaming industry, ATRI shall be used to decentralize the operations. With smart contracts, task-based outsourcing of the game development process is possible.
The utility of Atari’s token reflects the overarching vision of the project to revolutionize the gaming industry. Moving on, Atari Chain aims to be the propeller of a decentralized economy with high liquidity and ease of global access. Atari is scripting the future of the gaming industry and to call this wait ‘exciting’ would be an understatement.
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