Written by :
Published on :
SEATTLE - FlowPlay, creator of the most powerful immersive gaming platform, today announced its strategic alliance with Dragonchain, the open-source blockchain platform originally developed at Disney. On the heels of its investment in Dragonchain's Initial Coin Offering (ICO), FlowPlay plans to license and leverage the company's blockchain technology to develop an in-game monetization platform for casual social games. In addition to integrating blockchain into its current game suite, FlowPlay is exploring further opportunities to create and power games with cryptocurrency.
Now accepting nearly every crypto currency
Blockchain has quickly become one of the most promising technological breakthroughs in secure item transfers across many industries and is poised to revolutionize the $109 billion gaming space (Newzoo). Blockchain and cryptocurrencies are a natural fit for the games industry, which is often fueled by early adoption of emerging technologies, and the need to enhance player experiences to remain competitive. Through the addition of a blockchain platform, game developers can increase security and transparency for their players, and eventually promote the universal exchange of in-game digital goods across the entire gaming ecosystem.
"Dragonchain and its technologies have the potential to make a huge impact in the games industry by introducing a simple and secure way for players to earn and trade cryptocurrency through a decentralized blockchain system," said Derrick Morton, CEO of FlowPlay. "With the technology's roots in loyalty and rewards programs, we see several key areas of our business that can be enhanced and expanded through the Dragonchain platform."
"Dragonchain was developed to provide companies with an easy-to-use blockchain platform that allows users to retain complete control of their data, providing a level of security not available in any other platform on the market," said Eileen Quenin, President of the Dragonchain Foundation and Vice President of Strategic Partnerships with Dragonchain, Inc. "By using our turnkey solution, FlowPlay is breaking ground in bringing cryptocurrency to an industry that traditionally deals exclusively in virtual goods. FlowPlay's implementation of blockchain will set an example for companies in their space looking to optimize their businesses through cryptocurrency in the future."
In a multi-billion-dollar industry where players spend nearly as much money in games as they do outside of them, developers are faced with the challenge of creating a secure platform that supports the fair trade of virtual goods. Many gaming companies are failing to eliminate risks for their player communities and effectively compete with others that provide sophisticated payment options. The use of blockchain technology within a gaming platform will limit security vulnerabilities, boost the potential for virtual economies and give game developers the control they need to adapt to an evolving landscape.
"We are a platform company at our core, and as such are constantly looking for new ways to innovate and enhance the experience of our community of players around the world," Morton said. "By strengthening our monetization platform with blockchain, we are exploring ways for our players to earn freely tradeable cryptocurrency in-game and use those rewards as tradable goods, to redeem for cash or in a variety of other ways."
FlowPlay will solidify its uses for Dragonchain's platform across its suite of games in the coming year.
