May 29, 2019 21:23 UTC
Jun 3, 2019 at 21:31 UTC
Pixelbit – The digital currency for gamers
Good News for gamers! PixelBit has developed a universal digital currency for gamers and game developers
PixelBit- an Ethereum blockchain based cryptocurrency has been developed to serve as a foundation for in-game purchases, unlocking additional content, as well as an ingenious system for earning actual, inherently valuable currency while playing games.
Reports have shown that the online gaming industry is growing at a double digit year on year growth rate. It is the fastest growing segment in Media and Entertainment Industry across Globe. In 2018, the market was expected to be worth about 115 billion US $ and the industry is expected to surpass 138 billion in revenue by 2021. With increasing access to fast Internet as well as dissemination of information, the number of gamers and game developers has seen an exponential rise over the years.
With competitive gaming gaining in popularity worldwide, especially over the course of the last 10-15 years, turnover of the gaming industry has skyrocketed. E-sports is a recognised term borne years ago. Tournaments in popular online competitive games such as Counter Strike, Dota 2, League of legends, Starcraft 2 and many more have set huge price pools. As the industry is growing, so are the ways to generate revenues through it which includes micro transactions of some sort, usually involving some kind of virtual currency: gems, rubies, silvers, ncash and so on.
There has been no cross platform system for monetisation and there are many issues with micro transactions. Over the years the gaming quality have been declining and the competition among gamers have increased immensely. Reviews does not hold credibility because of the bias ness associated with them. With the emergence of Blockchain Technology and Cryptocurrencies, new possibilities of the way transactions- both financial as well as data- can be handled emerged on the horizon. Current gaming industry, rely heavily on micro transactions; Blockchain can open new doors to the sector.
PixelBit is trying to disrupt this industry with its unified currency which is targeted towards both gamers and game developers by incentivising them to play and create. Gamers can earn currency during gameplay. They are allowed to spend that currency for in- game rewards as well as additional content which will make gaming more lucrative, enjoyable and worthwhile. At the same time, developers have the opportunity to handle their in-game purchases via an actual, inherently valuable digital currency that is compatible across all kinds of platforms and games. This may result in several measurable financial and logistical benefits for developers and publishers. PixelBit has been built from the ground for maximum cross platform interoperability.
A set of tools and APIs will be launched, both tailored towards certain third party game engines like Unity, Unreal etc. as well as custom solutions. While the total stock of PXB tokens will be fixed at 100,000,000 PXB and will be available through the in-game APIs, certain amounts will be sold on public exchanges. Early adopters has the opportunity to get into PixelBit as well as provide reliable timeframes to implement the PXB platform.
So far, owing to centralized and monopolistic structures, only big game studios were benefitted. With PixelBit, both gamers and game developers benefit from the unlimited possibilities of decentralisation- developers will have the chance to be more independent of publishers, which receive all the credit for the success of a certain game, and gamers will benefit from the motivation of game developers to focus more on quality than on quantity.”
In the Blockchain market, PixelBit is one of its kind project. Most blockchain projects in the industry are focusing either on creating blockchain-games or using the benefits of the technology such as transparency and speed in the areas of content creation but PixelBit has come with this unique value proposition which can change the existing scenario of gaming industry.