How gaming and the blockchain are a match made in heaven
Q: As an expert in the crypto currency market would you be able to give me an update on your view of the current situation in the cryptocurrency market?
A: Yeah so as most viewers and yourself know that we've been in a real slump for the last few months. And we've gone from you know all-time lows to into an all-time low as far as a drop goes in the market. And I think this is reflective of markets in general today. I think we are looking at tougher times than we have in the past and the bubble has popped definitely for cryptos. That's a good thing I think, because: What remains behind are the companies that are actually building real value. That are doing projects that really can turn into businesses that make sense and can move on. And I certainly believe that we're going to be one of those companies. So I think it's really all uphill from this point on.
Even if the crypto currency markets don't increase appreciably in let's say the next year. I think our businesses are still going to do quite well and are going to have quite good returns on the investments that we have put into them. That's really what matters at the end of the day.
Q: We are following you for a while and we could see that you have been working really hard on different mergers and different diversifications. For example your merger with X2 Games. First of all: Congratulations on that deal. It's really nice to see. Gaming is a big industry. Maybe you could give us an update on what's coming up in the next coming months for X2 Games?
A: Gaming is a very big industry and it's actually one of the industries that's adopting blockchain technologies more than others. And it is actually adopting it at a really fantastic rapid rate. Right now all the big companies are now very much involved with moving their in-game assets, scoring, commerce - and everything really - to blockchain. So fortunately for us this is something that I've been really myself believed in a lot.
As well that the gaming and digital assets and blockchains really go together really nicely. So very early on in blocks a lifetime we started a lot of gaming initiatives. And I had a chance to meet Nolan and Zai very early on. And we became quite good friends with them. They collaborated up with us on a number of fronts. And we proposed this merger which really made sense. And they agreed that together our synergies really add up to more than 1 + 1 and that's really where we're at.
So Zai and Nolan will be running global blockchain and they will be taking over our gaming initiatives. And they will be looking at our entertainment initiatives in general. And our media initiatives in general. So it's very exciting times. In addition to that, I mean global is also not just the blockchain company anymore. It's a gaming company who also has a major initiative in the blockchain space. And that's very important distinction to make because I think we have to understand that eSports and gaming are just really starting today. And people are watching games on Twitch for example more than they're watching American Idol. American Idol has like on a good day 18 million viewers. Ninja on Twitch has many multiples of that at times and that's really something. And he's a well-known gamer. And that just shows you where audiences is spending time and really putting their attention on. It's online media. Gaming is a huge portion of that. So I only see great things in 2019 for the gaming industry. And I'm really think we're really lucky to have brought on such an amazing team to run the company and really lead its business development efforts going forward.
Q: So could you give us an example of where exactly blockchain could be used during gaming. So others can understand in more detail what it's used for?
A: Absolutely. So in-game assets are a big business today. They're an 80 billion dollar business. I suspect because of blockchain technologies they're going to be a trillion dollar business very soon. And you know you talk to your average 14 year old kid. He doesn't trade cryptocurrencies. But he does trade in in-game skins as they call them in game assets like swords, bikes, whatever. It's a big deal to them.
There are many kids who want PlayStation gift cards for example. They don't want crypto currency gift cards per se and that's the big deal. Because in-game assets or are going to be a massive industry. And now that they're tradable - now that they're going to become tradable, I should say - and you know between different games between people freely tradable. It's going to completely change the landscape. And it's gonna make them a lot more valuable. That's only one facet. Keeping track of scores is a big deal. Identity management is a big deal. Payments for tournaments is a big deal. All of these can be helped by blockchain technologies. You can actually give out rewards as blockchain assets. Even if the asset is a US Dollar backed token.
Those systems can create massive federated games, decentralized games where you can move from one world to another. And what not that really are you haven't had that ability before to have different teams collaborate and create games within games. That will revolutionise the gaming industry.