DMR Business Statistics predicted that by 2020 the blockchain industry will be worth approximately $60 billion and cryptocurrency has been identified as the solution to making in-game transactions easier and safer.
Brands such as Red Bull, Swarovski and PayPal have started using tokens to gain insights from audiences and also as a tool to reward their employees. There are a number of small companies in gaming who have attempted to implement the illegal practice of online gambling using cryptocurrencies in order to avoid licensing and working with banks.
KamaGames also carried out a token sale in 2018 but unlike other companies, their move into blockchain/crypto had very little association with money. The sale was in actuality an attempt to access the blockchain industry and also to discover whether the demand for purchasing tokens was as extensive as they were being led to believe.
Another area of focus for the company was to increase revenue and alongside this improve player loyalty and retention.
The token was built in such a way that the players would receive bonus chips daily and also receive tokens. The token to in-game virtual chip rate would see a constant growth of 25% per month and users would get daily bonuses for the first 6 months.
The result of this was similar to many other tokens that had been tracked previously. The sale results were less than the most pessimistic projections and it would be detrimental to develop a social casino on blockchain. This is mainly because casino players require simplicity and speed both of which are not in the least bit aided by blockchain technology. Another hindrance to the technology`s success in this sector is due to blockchains inability to handle large transaction volumes that other apps such as Pokerist handle.
Lastly, KamaGames has an efficient certified RNG (random number generator) and blockchain could potentially make this more predictable.
According to this research and experience it seems that cryptocurrencies and blockchain will not be widely adopted by the gaming industry anytime soon.