Real Money Trading (RMT) in the games industry has been a significant issue for decades. Could blockchain help to solve the problem in a way that doesn’t hurt the players? Find out in Mint One Podcast episode 70.
Token Gamer and NFT Insider have decided to combine forces to launch a weekly podcast, Mint One (formerly WAX Lyrical). John Nichols of NFT Insider and I will discuss a new topic every week, as well as feature special guests. If there’s a topic you’d like us to cover, make sure you let us know through the Token Gamer Discord or Twitter, or the NFT Insider Discord or Twitter.
In last week’s episode, we discussed the pervasive phrase “Steam of Web3”. This week, we stay on gaming, but move our attention to the problem of RMT and blockchain’s role in its future.
Mint One Podcast, Episode 70: Can Web3 Solve RMT in Gaming?
I will openly admit it, I have engaged in RMT in games — games that it’s against the terms and conditions of — on and off since 2003. I’m certainly not one of the heavy hitters spending thousands, but on occasion, I have bought bits and pieces on the grey market for the games I’m playing; in-game currencies, skins, and so on.
This is a problem far too deep for even one podcast episode, let alone a summary article, but there is one element that stands above the rest as an indicator that a change is coming: the publishers don’t earn from grey markets. With blockchain, the developers and publishers can earn from every transaction as it is moved from grey to white markets, which not only can keep players safe from scams, but enables the economy that inevitably forms around every popular game.
In this episode, we take a look at games like CS:GO and World of Warcraft that see inordinate amounts of grey market activity, as well as what the industry might look like if the most popular games used marketplaces.
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