Article: Blockchain and NFTs are turning gamers into Investors

Blockchain, Digital Content, Innovation

Blockchain and NFTs are turning gamers into Investors

We saw this play out earlier this year when a massive fire in France destroyed approximately 30 servers connected to the hugely popular MMORPG (massively multiplayer online role-playing game) Rust. As a result of the incident, thousands of players lost their saved data, which wasn’t backed up offsite.

The destruction of Rust’s servers helped make the case for more decentralized, blockchain-based gaming models, where external circumstances won’t cause gamers to lose their hard-earned progress or in-game items. As the digital economy has matured, these items have a real-world value, sometimes in the tens of thousands of dollars range or more.

“People spend a lot of money in games. When they quit a game, that money is gone. Your investment is gone. It doesn’t mean anything,” said Gabe Leydon, the former CEO of Machine Zone. “So if people are willing to spend that kind of money in something where if they stopped logging in, it has no value. What happens when, if they stop logging in, they sell what they bought. It will change the whole nature of video games. It won’t be spending anymore. It will be investing. So it totally changes everything.”

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Article: What Is Distributed Ledger Technology? Why Is It Important?

Blockchain, Decentralized Internet, Hardware, Software, Web 3.0

What Is Distributed Ledger Technology? Why Is It Important?

According to experts, digital ledgers can be used in property deed transfers, tax collection, voting procedures, and social benefits distribution. They also stated that distributed ledger technology could be used for processing and executing legal documents and other types of exchanges.

It is also believed that individuals can use distributed ledger technology to hold and control personal information and selectively share pieces of those records when needed.

Furthermore, digital ledgers can help individuals and organizations to better track intellectual property rights and ownership for commodities, art, film, music, and so on.

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