The world of finance has recorded a great milestone with the coming into existence of cryptocurrencies and digital finance. Digital finance, along with the coming of cryptocurrencies, introduced to us the blockchain technology. The blockchain is the gamut upon which the cryptocurrency values are entered and stored. These digital innovations have been monumental advancements in our world. There is yet another milestone recorded in the digital world as even cars and game racing are about to go fully blockchain-enabled. This is the concept brought about by the cryptocarz. With the fusing of the blockchain, virtual reality, and E-Sports, Cryptocarz is coming to transform gaming.
The place of blockchain in gaming
Gaming is not about to be left out in the wave of technological advancements the world is experiencing currently. Fusing gaming unto the blockchain will enable gaming to take a whole new dimension. Consumers will now be able to access their favourite games as digital assets. These new blockchain enhanced gaming technology makes use of assets known as Non Fungible tokens (NFTs) – these pieces of assets are easily traded like commodities. Just like digital assets, such as cryptocurrencies, use protocol, so also do these games. Each digital platform has its preferred and most suitable working protocol. For cryptocurrencies such as the Bitcoin and Ethereum, they make use of Fungible tokens. The most preferred protocol for cryptocurrencies is the ERC 20 protocol. But for the gaming platforms, the case is different. They make use of non-fungible tokens. The most suitable NFT for the cryptocarz technology is the ERC 721 protocol. It is specially crafted for blockchain based games such as this one. With this, gamers can purchase their favourite games and pay for modifications of their cars very easily.
The fusion of Gaming and E-Sports
Statistics show that E-sports is taking the center stage in entertainment today. With over 350 participants and over $650 million made in profit, the world’s entertainment industry is largely dominated today by digital gaming. The fusion between these two areas will bond a great partnership that will be a gold mine in revenue generation in the next few years to come.
Virtual reality in the world of gaming
Ever taken time out to consider what the virtual reality is and what it is all about? Virtual reality gives people the opportunity to create and bring alive their imagination. Operating in a completely virtual environment, participants are able to come closer to their competitors, contestants, and other challengers. How much more fun could one possibly ask for? Sitting in the comfy relaxed confines of one’s home in Philadelphia, with the aid of Virtual Reality, one is able to participate in all national and international car racing championships across the globe. For the Formula One drivers, this is a great opportunity to go around the world, virtually, having a feel of the excitement of these competitions.
Cryptocarz has given a new dimension to gaming, fusing it with the power of the blockchain technology, the E-Sports, and Virtual reality.
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