Are you a crypto fan with a special interest in the gaming industry? If you are, this article will intrigue you. Ever since the first currency was launched in 2009, many industries, including gaming, have been benefiting from this technology. And if statistics mean anything, Markets and Markets estimated the blockchain gaming market to be $4.6 billion and anticipate it to grow to $65.7 billion – a growth of over 70% CAGR.
As you well know, cryptocurrencies have been a subject of discussion across different sectors, and staying updated on recent trends can be very helpful. And thanks to technological advancements, you can always tell the current Solana price from any place as long as you are connected to the internet. Reading this article, you will discover recent crypto trends shaping the retro gaming industry and other details that will intrigue you.
Recent partnerships
Just recently, in July 2024, Edia, a major IP holder, entered a deal with Oasys, which would make Oasys its exclusive blockchain partner in offering hundreds of retro games released in the ‘80s and ‘90s on Web3. The partnership was intended to onboard more mainstream gamers to the Web3 platform as Oasys is to recreate all of Edia’s retro games and present them on the chain.
On the other hand, Edia is supposed to facilitate all the public relations and marketing strategies in an effort to enhance awareness of the possibility of combining retro games with blockchain technology. Imagine enjoying the popular Gaiares of 1990 in a new environment altogether. This collaboration will definitely introduce the games of the late 20th century to a whole new generation of gamers.
The regions that might benefit more include North America, Japan and Europe since Edia already has several classic games released in these markets. These games, which have initially had a cultic following, will likely draw many more Web3 gamers as they are set to enhance the gaming experience while maintaining their original appeal. Edia’s partnership comes just a few months after Oasys collaborated with SBI NFT to foster its hold of the NFT industry.
Atari’s collaboration with Base
Atari has been taking advantage of blockchain technology until 2022, when former CEO Fred Chesnais departed. In their recent collaboration with Base, an Ethereum layer-2 scaling blockchain, Atari was set to bring their Asteroids and Breakout games to the blockchain network. The collaboration will allow players to compete for rewards and developers to receive fair compensation from the game sales.
In response to the partnership, Tyler Drewitz, director of the Atari Club and Atari X, highlighted that blockchain technology was convenient for their business as it allowed them to interact with stakeholders in new ways, including rewards, social activations and partnering on new products. As of now, players can participate by buying Asteroids for as low as $5 and competing for leaderboard positions.
It’s noteworthy to mention that you must connect your wallet and mint an NFT access pass, which you will use to play and record scores. And the good thing is that you can buy up to 1,000 passes. While some sites allow you to play Asteroids for free, the fee on the AtariX platform ensures you can play against other players and potentially access Atari gift cards.
Are there more examples?
Just at the beginning of 2024, the Super Nintendo Entertainment System (SNES) emulator was inscribed on a satoshi by creators at the Bitcoin Ordinals portfolio tracker Ninjalerts. The project, called Pizza Ninja, allows players who buy Piza Ninja assets to legally use the emulator to participate in public domain games. The developers later used recent Ordinals compression technology to insert a more sophisticated Nintendo console on Bitcoin.
During an interview with Cointelegraph, Trevor Owens, CEO of Ninjalerts, said inscribing game emulators on the blockchain network is part of their efforts to keep these highly endangered games. The CEO thinks that the blockchain network provides a platform to immortalise data in a way that was not possible before.
In another place, a pseudonymous developer, Mini Doge, employed the Dogecoin Ordinals protocol, Doginals, to achieve something similar. Do you remember Doom, a ‘90s first-person shooter game? Mini Doge inscribed it on the network – which made it possible to access the game on mobile or computer via the Dogecoin blockchain.
Final thoughts
At the beginning of this article, we quoted research showing the possibility of the blockchain gaming market increasing by a CAGR of more than 70%. And it is clear enough that the recent partnerships between gaming companies and blockchain-based organisations have a role to play in this growing statistic. Blockchain technology offers many benefits like decentralisation, which appeal to the needs of most modern developers.
Owens, for instance, suggested that this technology provided a more convenient way of immortalising data. And since several retro games are endangered, we can expect more developers to turn to blockchain in the future.