EMPOWERING THE METAVERSE THROUGH THE INTERNET OF GAMING (IoG)
Online video games are a multi-billion dollar industry, and their worth is increasing exponentially: the gaming and technology ecommerce industry is currently worth $150 billion. By 2025, it will have doubled in value, while the metaverse is predicted to be worth $2.5 trillion by 2030.
So where does all the money go? Who benefits from the passion, energy and dedication of the almost 3 billion gamers around the world?
The average gamer spends around 16 hours per week playing video games, according to a recent report by Accenture, while aspiring pro-competitive gamers may spend considerably more. Apart from pure enjoyment and adrenalin, what does he or she have to show for it, in financial terms? Zip. Nada. Nothing.
So who is the gaming industry designed to benefit economically? You guessed it: the gaming industry. It has been built by centralised corporations, focusing purely on competitive advantage.
Centralised corporations and traditional businesses — the “big fish” — which dictate the industry are motivated purely by profit. They don’t seek the invaluable input of those with the greatest insight and in-depth knowledge — the gamers themselves — to improve and develop the experience.
Gaming is highly fragmented. Currently, there is no cohesive ecosystem of gaming that can embrace the diverse variety of user types, from Achievers to Killers.
And what about the cost? Competitive gaming is not a cheap activity — it is expensive to participate in, and gamers have little ownership or control over data and assets. Opportunities to monetise — earn money from their gaming — are extremely limited.
What’s more, the situation as regards the technological infrastructure of gaming is far from ideal, with a poor allocation of energy resources, lack of sustainability, and weak verification and security adding to the downsides.
So what if this time spent on the gamer’s favourite tournaments was to earn him/her money?
And this is where Banger Games comes in.
Banger Games is a Play2Earn gaming ecosystem that works as a monetisation tool for gamers, creators, and businesses. Allowing them to white label automated SMART tournaments and mint NFTs to create a transparent and decentralised economy.
You may have heard of IoT (the Internet of Things). But have you heard of IoG, the Internet of Gaming?
Empowering the metaverse through IoG, we will restore ownership and control to gamers, enabling them to earn money from their achievements and participation — finally resolving an age-old problem. We will shake up the industry.
Our revolutionary vision is a decentralised infrastructure which will power the future metaverses run by gamers.
This infrastructure will connect and reward players, icons, brands, and publishers for completing objectives within the industry through a highly innovative currency.
We are creating systems that, instead of being dictated by suits, will be built by communities of gamers, the ones who should govern the gaming industry. This will revolutionise the industry’s economy in favour of its users.
As Accenture says “Gaming is no longer product-centric. It’s a service industry and, as cross-platform and social interactions become increasingly pervasive, what users see and do will make all the difference.”
In addition, as you’d expect within an entirely new and user-driven ecosystem, participants will also be rewarded for contributing to the growth of the IoG network. The Accenture report says that, as well as gaming, gamers spend six hours per week participating in game forums and communities.
With the increased use of Web 3, cloud gaming, and blockchain, gamers will no longer merely be users; they will not be winners or losers but instead will become the architects of the system.
A solution built by gamers, for gamers.
So how will it work?
The Internet of Gaming (IoG) of Banger Games has three principal elements: Play2Earn Bomb coins (Banger Games’ crypto-currency), a decentralised gaming ecosystem, and a P2P cloud and network.
- Bomb coin is the global gaming currency that will allow gamers to monetise their time spent gaming, rewarding players for matchmaking, improving skill levels, and winning tournaments.
- Bomb coins will create a new economic system to reward all user types and will be easily exchangeable into any other gaming currency.
This is the first global gaming currency that can be earned, transacted, shared, connected, and burned within the communities operating on the IoG network.
- Our decentralised gaming ecosystem within the metaverse will connect and reward all user types within the industry for completing objectives and contributing to the growth of the IoG network.
- Our P2P cloud and network will allow gamers and other industry users to contribute capacity and network resources from player to player through proof of service, thereby decentralising current cloud and server models.
Our blockchain-based platform brings gamers transparency, ownership and security — and infinite possibilities.
Look out for more articles coming soon on Bomb coins, Web 3, the metaverse, how to become a member of Banger Games, and how you can reap the benefits of this new Play2Earn ecosystem.
