A gaming platform which promises to address the issue of property in a digital age has today been revealed.
Using blockchain technology, BitGuild aims to give the user ownership of their in-game items, allowing them to maintain their digital possessions even when an online game shuts down.
As with cryptocurrency, the aim of BitGuild is to decentralise the data, granting ownership to the user, rather than a game developer or publisher. Games on BitGuild will be built from the ground up to make every character, item, and asset completely unique, and therefore tradeable.
Where previously in-game items were intangible data on a private server, using BitGuild, these items would belong to the player in the form of a token on the blockchain.
BitGuild is led by virtual currencies and gaming veteran Jared Psigoda. Before founding BitGuild, Psigoda was CEO and co-founder of Reality Squared Games; he has since founded Livestar, a development studio focused on bringing live streaming and other social media apps.
"We watched the gaming industry deteriorate over the years, as developers had to make more addicting and profitable games in order to survive. A lot of times this came at the cost of player experience and game lifespan," said Psigoda.
"Games like Crypto Kitties are all pretty basic in nature, but they very clearly demonstrate their ability to solve problems that have plagued both gamers and game developers for years. The implications of having a true gaming network built on the blockchain are nearly limitless."