The Abyss, a distribution platform for online video games, has partnered with Waves to bring a decentralized marketplace for goods and in-game collectibles. As per the announcement, the Abyss will become the first platform to use the Waves platform for a trustless marketplace, September 5, 2019. Users can buy and sell goods on the platform using Abyss tokens, which also helps game developers monetize their creations.
Video Games and Blockchain
Many observers believe that video games can be a driving force for cryptocurrency adoption. Projects like The Abyss and Hoard are building on this very thesis and attempting to bring in a new set of users to the space.
Abyss tokens will be integrated on the Waves blockchain, which allows users to integrate the functionality of the token directly on their Waves-based games. It goes without saying that this comes with a technical SDK and professional assistance.
Games on the platform will be able to leverage the Abyss distribution network. This gives them the opportunity to launch their game to a much wider audience.
Waves Founder and CEO, Sasha Ivanov, stated that he recognizes gaming as a high potential segment, with a current size of over $100 billion. Both projects are extremely confident that this will be a state of the art digital marketplace from which many parties can benefit.
Development has already begun for the integration and necessary APIs and like will be added to the SDK once this is complete.
Blockchains have ushered in a new era of trustless exchange, but does every industry and company need to be decentralized?
Some projects are better off staying fast and efficient rather than becoming trustless.
Tokenization is a radical new idea that can actually make things more efficient, but if a token isn’t needed, it actually just slows the entire process down.
Every project in the space is launching their own token, and the logic hardly ever ties together. Utility tokens aren’t meant to be held, they are simply meant to facilitate exchange; that’s the entirety of their role.
On that note, there are still positives to this entire process. Since most tokens are converging to the ERC-20 standard, they act more like fuel for a sub network within a larger network (the Ethereum state). They can be likened to a separate sidechain on a blockchain network, or a department in a large conglomerate.
The potential for synergy is high, but they still do trade off a fair amount of efficiency just to have a token.