What is Kronoverse? Blockchain-Based eSports Platform
Kronoverse is a company that is working on an innovative blockchain system for eSports. The eSports market is red hot, and becoming more popular all the time. Like most gaming, eSports is dominated by a few major companies that control the marketplace. If you want to use their platforms, you have to play by their rules.
The problem is when a company is in control of a platform, and there is no transparency, there is a big risk of corrupt activity. We aren’t saying that the biggest eSports platforms in the world are out to shake down their clients. Far from it. But when there is a lot of money on the line, and very little in the way of platform transparency, something crooked is going to happen sooner or later.
Blockchain is one way to make sure that eSports platforms give their clients a fair shake, but blockchain can also offer eSports gamers (and gamers in general) a whole lot more. Kronoverse sees the potential that blockchain has in the gaming sector, and has some great ideas about how it can help to create more transparency and accountability in the industry.
Kronoverse Sees Blockchain as a GameChanger
There are many reasons to embrace blockchain in the gaming industry. As eSports become more popular, more people want to make sure that their accounts are safeguarded. Unfortunately, this is nearly impossible when a company controls the entire ecosystem, which is a market dynamic that Kronoverse is working to change.
According to the company:
“For players to financially interact within a blockchain game’s ecosystem, they’ll rely on in-game tokens which will serve as in-game currency. This type of ecosystem within the blockchain is also known as Tokenomics. Compared to traditional centralized games, you never really own items you purchase in-game. You risk losing all of your items if your account is suspended or if the server goes down. Blockchain games allow you to keep your items since they stay in your wallet and you could trade them even if you can no longer use your account. The value of a token varies per blockchain game and can be used according to the rules of the blockchain game.”
Kronoverse clearly understands that gamers need to have more rights when it comes to how their digital assets are stored and traded, and blockchain could be one of the best ways to accomplish its goals.
The real winner in all this is the gamers, which may be why the big gaming companies have resisted any sort of systems integration. As gamers begin to realize that blockchain empowers them in a way that no other technology ever has, things may start to change in the eGaming industry.
New Ways to Create Efficiency
Kronoverse’s platform will help to create a public record of what happens on popular eGaming sites so that anyone who wants to make sure that all the rules are being followed can do so. There are other areas where the Kronoverse platform can help as well. Know-Your-Customer (KYC) regulations help to make sure that tax laws and financial security regulations are enforced.
According to Kronoverse, its platform:
“Offering full Know Your Customer(KYC) + Anti Money Laundering(AML) screening for player onboarding as well as payment processing for deposits including credit cards (fiat) and crypto. Game developers can now natively offer cash tournaments inside of their game so players can win money. Cash-out to players bank accounts included with full 1099 support for US players.”
Making sure that taxes are paid and legitimate entities are using a platform is very important. Tax cheats cost governments billions every year, and online gaming operations are a perfect place for criminals to launder their ill-gotten gains. Kronoverse is giving the eGaming industry a realistic solution to these problems, and a lot more.
The Kronoverse platform also creates the ability to do analysis of eGaming platforms with ease. These abilities could be used in many different ways, and gaming companies wouldn’t be able to withhold data anymore (it would be on a public blockchain – thanks Kronoverse).
Kronoverse commented:
“Players and games are intrinsically linked together by a mathematical model to create a gameplay ledger that cannot be altered after a move has been performed, allowing on-the-fly audits. Having massive amounts of game data such as what games are played, how they are being played, the number of people wagering on a specific player, even down to the exact player movement can now be analyzed and used for any purpose.”
Kronoverse is Already in the Field
CryptoFights is an upcoming 1v1 PVP game that is working with Kronoverse. Unlike some projects, Kronoverse is ready to be used by gaming companies to develop new products. The world of blockchain gaming is very new, and Kronoverse has a product that is ready to help roll out new games.
There are some big advantages to allowing players to own their game items, and the impact of blockchain technology in the gaming industry may be underestimated at the moment. The reluctance of major game developers to embrace open systems could be an issue for them, as gamers wake up to the fact that there are new options out there.
Blockchain Creates an Ownership Culture
People feel empowered when they have legal rights. In the world of eGaming, these rights simply don’t exist, and there is no reason why gaming companies would cede control over their kingdoms. Now blockchain is creating an incentive for gamers to demand rights, as they are the ones that support gaming platforms with their hard-earned money.
An ownership culture is vital to ensuring that people are treated fairly, and powerful entities don’t abuse the rights of people that trust them. Gamers should see that a platform like Kronoverse is here to help them, and stand up for their rights.
When a gamer spends money on a digital item, it should be their sovereign property. Game platforms have been able to control the digital items that exist in their games, and remove the rights that any sane person would demand in a commercial transaction.
Blockchain is a way forward for gamers, and platforms that allow the ability to own digital items should be popular with anyone who understands how important ownership of assets is to freedom and accountability.
Keep an Eye on Kronoverse
Kronoverse is creating a multi-faceted platform that will allow game developers to use blockchain. The benefits of this move are hard to overstate, especially from the perspective of gamers. Not only does blockchain create the possibility of an ownership culture in digital gaming, but it also helps to make sure that a nation’s rules and regulations are being followed.
While the blockchain gaming sector is still small, like any new technology, it is finding ways to show consumers how much it could help them. Kronoverse has one of the most complete blockchain gaming solutions in the marketplace, which should help the company to secure a first-mover advantage.
If you would like to learn more about why blockchain makes so much sense for eGaming, click right here.
Kronoverse is also ready to be incorporated into gaming platforms, so if you want to learn more about how you could use the platform in a game, contact the company directly via its website.
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Nicholas Say, @Khareem Sudlow