According to a recent report, Hong Kong’s sole representative at The Global Digital Entertainment Summit 2018 (the “Summit”), will use its core blockchain technology to revolutionise the industry ecosystem of the popular tourist hotspots, which have over a hundred million people visiting annually, such as Macau, Singapore and Las Vegas, by bringing a brand new, professional and unique insight to the industry.
Headquartered in Hong Kong and the Greater Bay Area, the distributed blockchain-based computing platform’s team comprises technology experts and university professors from both China and abroad, as well as the advisory team that includes entertainment gaming groups and investment funds from Europe and the US.
Currently, product development has successfully entered the testing stage. At the summit, the CEO of the company delivered a speech on “How can blockchain technology change the gaming world”, where he described the future development of the US$200 billion entertainment gaming business and conducted a demonstration of the blockchain-based product.
The size of the global gaming market is expected to exceed US$130 billion in 2018, of which more than half comes from e-sports and social interaction games, representing a year-on-year growth of 25%. Gaming entertainment, also a sizeable entertainment industry, recorded a revenue of US$129 billion in 2016.
With the ever-growing trend of globalisation in e-sports, it is expected that there will be an explosive growth in the number of gamers. With e-sports and gaming entertainment possessing similar stimulating and competitiveness, the company combines these two aspects in terms of gaming formats, players and marketing via blockchain in order to enhance the industry’s competitiveness.
At the Summit, the company’s CEO stated that the global gaming entertainment industry is set to climb to US$200 billion. New technologies such as 3D and VR are widely applied in the industry, but the market remains frustrated in its efforts to develop new clientele. The rise of blockchain technology, however, will break these hurdles and usher the global entertainment gaming industry into a new interactive era.
He noted that, currently, communication difficulties among the interchain still persist in blockchain technology, plagued with issues such as slow transaction processing and low capacity. In addressing these issues, he said that the company provides a brand-new solution while serving as the bridge that allows blockchain mutual support and transaction, effectively consolidating e-sports and all entertainment gaming venues, integrating the online virtual environment with the physical environment, creating a world of entertainment with 100 million participants annually.
As for the company’s development strategy, digital assets are also an important aspect of the company’s development. Traditionally, digital assets are fully owned by game developers, but with blockchain technology, it is possible to truly achieve player ownership of in-game digital assets such as tools, gifts and avatars.
In the future, the players may be able to take their e-pets to offline arenas and engage in competition with other players or even integrating their collections of various assets earned in different areas.
The company is a Hong Kong company focused on blockchain technology. Its management team has solid experience in gaming technology development, channel distribution and compliance assessment. The company achieves the application of the token economy with the use of blockchain, and will gradually expand to relevant businesses such as e-sports and the management and regulation of the digital asset market.
The company has now obtained backing from several top funds and follows the footsteps of the major Japanese gaming giants as the third Asian technology company to join the U.S. GSA, as well as being the first blockchain technology company to be a member of GSA.
In the future, it is expected that the company and GSA will work with government regulatory authorities, continuously driving the development of blockchain in the entertainment industry.
