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Is this video game the killer app for cryptocurrencies?

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This article was originally published on Fool.com. All figures are in US dollars unless otherwise noted.

Every new technology needs a breakthrough before it can truly be successful.

The computer gained attention with early spreadsheet programs such as Lotus 1-2-3 and VisiCalc. Where would the Internet and its gigantic economy be today without the Mosaic and Netscape browsers of the early 1990s?

Digital video streaming is currently stealing market share from cable, satellite, broadcast and theatrical video options, and Netflix (NASDAQ: NFLX ) started this revolution ten years ago. You get the drift. A single innovator (or sometimes a small group of them) provides the early excitement that makes the target audience sit up and take notice.

Cryptocurrencies still looking for that magical moment after a string of false starts. Rumored to be a video game developer Take-Two Interactive (NASDAQ: TTWO) could add initial fuel to large-scale crypto fires.

What is the matter?

Grand Theft Auto 5 (GTA 5) is the second best-selling video game of all time, having sold 165 million units since its release in 2013.

Even now, nine years later, GTA 5 remains one of Take-Two’s most important and profitable titles. According to GamesIndustry.biz, GTA 5 was the best-selling game in Europe in August 2022. Yes, nine years after its initial launch.

Gamers crave the next portion Grand Theft Auto, of course. You can’t leave them hanging forever, even if the current title continues to sell well.

Whenever Take-Two manages to release the next game in this dominant franchise, you can bet that it will break records and set standards.

Okay, so what does Take-Two do?

Last February, Take-Two confirmed that its studio Rockstar Games is actively working on the next part of the game. Grand Theft Auto series.

“Our goal is to always go far beyond what we’ve delivered before,” the developer studio said at the time. “We look forward to sharing more as soon as we’re ready.”

Making the next big move is quite difficult, but there are rumors that Take-Two may be up to the task.

GTA 5 includes a simplified stock market with about 80 tickers spread over two stock exchanges. Players can invest money in games and over time earn or lose their (often ill-earned) money.

This system is tied to real dollars because you can always buy a lot of play money for a little cold hard cash.

One hundred thousand dollars GTA 5 cash costs $3 and an $8 million cash infusion will cost you $100.

It is more difficult to go the other way around. So-called Shark Cards change hands in online marketplaces, for example eBayoften for less than half of Rockstar’s official prices.

Other game companies have refined this idea over the years, led by Roblox (NYSE: RBLX) and its sufficiently liquid currency Robux. In games like Roblox, you can make a living by creating in-game items and experiences that other players want to buy. The Robux system is the lifeblood of this company’s business plan.

Against this backdrop, Take-Two could significantly change the real-world crypto market by building blockchain features into the next Grand Theft Auto.

How can cryptocurrencies work in Grand Theft Auto?

Crypto may appear in the new GTA games in several different ways. First, Rockstar can rely on actual ledgers to track game data such as items, money, and rewards.

Unique characters, vehicles, digital assets and weapons can be featured non-fungible tokens (NFT). In this way, the company will create a very real trading platform for its fictional assets.

With or without cryptography-based gaming features, a game can reward gamers for playing the game by sending out small amounts of real-world cryptocurrency.

This idea could be similar to the Brave web browser, which shows additional ads on some pages in exchange for sharing ad revenue with the browser’s users.

For example, I earned four Main signs of attention (CRYPTO: BAT) last month for frequent use of the Brave browser. At the current exchange rate, that’s worth about one dollar, but Take-Two could raise the game with a richer revenue distribution stream. After all, gamer loyalty is important and valuable.

And of course, Rockstar could abandon real cryptocurrencies altogether and just laugh at the crypto market.

Rockstar can even increase its own fortune by signing a sponsorship deal with an organization such as Coinbase or Crypto.com. It would be entirely in the spirit of dry humor Grand Theft Auto games.

This would be the least profitable form of cryptocurrency inclusion, but the company would still be discussing the digital asset in front of a huge user base where many gamers seek to interact with the gaming world on a daily basis. It is still valuable to the crypto market.

Fingers crossed for one or two major cryptocurrency features

The rumor mill has found no consistent evidence of future cryptocurrency functions Grand Theft Autobut I’ll be shocked if this game hits store shelves without even mentioning the popular cryptocurrency sector.

Rockstar and Take-Two could become the standard bearers of the next generation of blockchain gaming, or they could laugh and smile at the idea. But there will probably be some crypto content, and that’s enough to make a big difference.

Keep in mind that only the in-game tokens and play-to-earn ideas would make the game a killer cryptocurrency app. Otherwise, it will be more of a missed opportunity that will leave the innovation in the hands of another innovator. Either way, crypto should get its first real killer app pretty soon.

Crypto may not look interesting right now, but history is likely to change again in the next year or two.

I think it would be a shame if Take-Two Interactive didn’t take this opportunity to write a real-world story. Grand Theft Auto 6 could become the VisiCalc or Netflix of the crypto market for millions of people.

This article was originally published on Fool.com. All figures are in US dollars unless otherwise noted.

https://www.fool.com.au/2022/10/15/is-this-video-game-the-killer-app-for-cryptocurrencies-usfeed/

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