Virtual worlds similar to the OASIS in Steven Spielberg’s upcoming film Ready Player One may be closer than we think – and provably scarce, blockchain-based digital assets could provide the leap forward that gets us there. Already, developers are testing early implementations.
Since CryptoKitties launched at the end of 2017, promptly causing a traffic jam on the Ethereum network and proving that crypto-collectible “games” leveraging blockchains can be a hot commodity, a number of copycats have sprung up.
While interesting, this first generation of blockchain games has been a relatively simple series of experiments. Meanwhile, developers have taken note of the potential synergies between blockchain-based digital assets and the mass-market video game and virtual/augmented reality space. As they explore potential ways of using blockchain technology to make virtual worlds and interactions more immersive and to build better bridges between in-game and real-world commerce, there are a number of legal issues to consider.