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Palm, an Ethereum Project to tokenize Video Games

Pooja
Pooja

A new and promising trend emerged in blockchain industry is the creation of decentralized applications(Dapps). Palm, an Ethereum based blockchain project is planning to provide a platform wherein developers can easily tokenize in-game purchases within video games.

As per creator, Palm makes it very easy to integrate smart contracts with gaming development environment such as the Unreal engine.

Unlike other platforms, Palm makes use of ERC-721 tokens which are non-fungible.This means that contracts used in application represent a unique and individually-owned metadata.

To elaborate more on that this feature enables gamers to have complete control over ERC-71 tokens. This is similar to withdrawing coins from cryptocurrency exchange and selling it to other players or use it in other video games.

Creator Tim Clancy, a grad student from University of Pennsylvania said in reports that,

“As a gamer and blockchain enthusiast, I want to see this kind of integration take off. Imagine being able to bring your favorite weapon or virtual hat from one game and into another,” Clancy said. “The idea is in its infancy, but I’m sure that some developers will find even more clever ways to integrate with the blockchain.”

Furthermore, Clancy stated that the convincing point about this platform is that it doesn’t follow traditional Microtransaction business model which involves real money of players being invested. Instead, players can purchase and truly own their in-game content.

Talking about security aspect the creator concluded by saying,

“Instead of spending time developing or securing their own item sale platforms, developers can easily deploy item sale contracts and rely on the correctness of the underlying blockchain”

Let us know your thoughts about this new gaming project in below comment section

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Pooja

Lead writer at Wolfcone.com and avid reader. My interests lie in everything and anything related to technology. I firmly believe cryptocurrency has the power to revolutionize world economy and blockc