How will Counterparty be used for gaming?
With all the hype around finance, contracts, and "liberty", the video game industry is often overlooked. Nonetheless, the potential for efficiency in this industry is ...
Three, two, one. What's up, party people? Woo! Chris DeRose here, community director the Counterparty Foundation. And in today's video, I want to talk about how Counterparty is going to be used for gaming. I think this is one of the best scenarios right now that is really looking at our future for applications of Counterparty technology. It's kinda new, it's kinda something we've been talking about in the chit chat for awhile and certainly it's a usage case that I think has so much potential. Right now, as it is, the very first project, certainly the one of many that we expect, is the Spells of Genesis project.
And I've talked about them on my channel before and you can look them up. It's a card game. It's a card deck-building game. On this game, what you can do is leverage Counterparty assets which represent cards in the game. So, it's very analogous to the real-life printing of cards, where you maybe play Magic the Gathering, and you have cards that are representative of like, the Goblin of the Sherlock Mountains or something, I don't know. And there's a fitted number of them and you hold them in that piece of paper form.
Well, with Counterparty, you can create these cards as Counterparty assets and then when you log into the game - there's a number of ways that it will probably be done - but you login with either your Counterparty wallet or you import them into the bank that is holding that game. It's holding cards and value in the game and you can play with those cards from there. But I don't think that's where it will stop. I think what will start to happen is that a lot of gamers are gonna want to export their tokens, their value from their games and they want to use it in other sites. So, they'll wanna use it on forums, or they wanna gamble with it, maybe they'll wanna tip with it, maybe they want to sell products for it. Or maybe they'll wanna sell in-game items outside of the game.
Right now, it's a check encumbrance. Right now, there are all kinds of scenarios by which sellers can defraud people, by which the interface is kinda clunky. Even though we like our game interfaces and such, HTML, HTTP, is really efficient and really good. And then, of course, the biggest problem you have is that you can't exchange goods for one game with another game. If you have something in World of Warcraft and you want to exchange that for Diablo goods, there's no way to do that. And you can't enable price discovery across these markets and there's no depth to these markets because it's all in a vendor silo.
So if you export that value out of your game and into a system that is non-denominational as it's disintermediated from everyone's concerns, you can make some really cool applications, really efficient technologies. And so I expect that what we'll see is that as some games try to stick their toe in the water, I think other game developers are gonna start to take note. I would foresee APIs of a kind that will facilitate easy access to Counterparty information. And who knows, maybe the guys at Tokenly will do it or somebody else. Certainly, there's a number people that are looking at this field, and I think that we're gonna be successful. I think that what we'll see is a lot of games are gonna start allowing users to export their value.
Export their value to the Counterparty system, to other exchanges by way of the Counterparty system, and even just back it up on paper, which is kinda cool, too. You never know. Maybe you wanna go take your cards from Spells of Genesis and use them at an actual game at a building with your friends. At a convention or something. These are all things you can do with Counterparty, and these are all things I think will be done with Counterparty. And that's how I foresee a major use case for Counterparty going forward that's outside the typical financial networks.
And in all that, too comes with all the efficiencies of smart contracts and things like that for which we're just now starting to get the basics of. But you can see all kinds of neat stuff happening there in games that take place outside of the game, but by way of the smart contract system and facilitating really cool stuff. So, we shall see what develops from here, but I'm really excited about gaming with Counterparty. I think that it's a really great growth avenue for us. Certainly it'll get a lot of developers on board. And that can only be good.
So, I don't know. What do you think? Is gaming important? Do we care? Should we be encouraging this? Am I missing out on some games or technologies that are out there? Why don't you leave a comment below? Or tweet me on Twitter. My handle is @derosetech. If you like this video, check out the rest of the channel and subscribe if you like what you see. Later, party people! like a Heineken. Yeah! It's gonna be on porno, dude.
Yeah, it's gonna be a porno. Perfect. Take shirts off, anything. I don't care. I gotta preserve my baby You look good, dude. Hey, what's the YouTube channel, though? Chrisderose.
com, you'll see me. Chris DeRose? Chris DeRose It's gonna be some fucked up, dude. It's all right. It's porn, dude, it's fine. Aw, hell, yeah!