Microtransactions - How Gaming has Evolved from Bitcoin to SuperOne
In the memories of those who make up the older echelons of the millennial generation, there was a time when games cost money. Quite a lot of money. Classic games from around the year 2000 like Half-Life, GTA, Resident Evil, Super Mario Galaxy, or The Sims would have sold for between $40 and $60 on average.
This meant saving your pocket money and taking time. However, developers cottoned on that there’s more money to be made when the consumer has the carrot dangled in front of them but is ultimately left wanting more.
Once you’d shelled out $50 on a game, it was completely yours and the onus was then back on the developer to bring out a sequel as quickly as possible to get you running to the shops and delving back into your wallet. All this changed with microtransactions.
What about giving someone 90% of the content for free to get you hooked, and then offering bonuses and add-ons for tiny sums of money the consumer wouldn’t even notice paying? Seventy-five cents here, $1 there, maybe another $1 the next time you play. You see the pattern.
Before you know it, you’ve paid the money you would have spent anyway — and more on top. Fortnite, for example, is completely free to download and is so popular it’s now a global phenomenon. Crucially, it’s also notorious for getting its players to spend money.
A report into in-game spending by LendEDU found the average Fortnite gamer was spending around $85 a year on microtransactions which is more than they would have spent purchasing the game new. According to data from the Entertainment Software Association (ESA), the video game industry in the US alone reached a record of $35 billion in revenue in 2019.
The marrying together of gaming and microtransactions is fascinating and has led to cryptocurrencies genuinely being the future of the whole gaming industry. Why? Never before have gamers had the chance to earn serious money just by gaming.
Now, their hobby could be their profession by competing against one another and winning financial rewards instead of just online kudos. What’s more, thanks to crypto gaming, the gaming industry now has a safe and easy means of making money too.
This is mostly through Bitcoin and other forms of cryptocurrency, but what platforms are out there for people looking to get on board? SuperOne — remember the name. It’s the new benchmark in crypto gaming, resurrecting the power of networking in the transparency of this pivotal blockchain era.
The rapid advances in blockchain technology have allowed new business models to emerge and SuperOne is leading the way with a transformative direct ownership concept where game profits are distributed in the form of tokens. The enormous boom of emerging blockchain ventures mostly involves these tokens, a new form of “digital shares”.
Tokens are owned and held via crypto wallets for easy inter-wallet transfer or sale via marketplaces. SuperOne operates a tokenized business model that diverts game profits to tokens as pay-outs.
The revolution of microtransactions in games led to the evolution of blockchain technology.
Games like Fortnite set the bar, but SuperOne has taken the baton and is running with it.