Mike Termezy – VP of token economics at blockchain tech firm Forte Labs – reportedly provided his explanation on how blockchain can create a profound impact on in-game asset supply and demand economics.
Specifically, Termezy, together with gaming expert and principal at Gossamer Consulting Group, Eric Kress, have reportedly shared his remarks on various ideas regarding the existing gaming ecosystem, particularly on various gaming communities, the digital in-game products companies sell, and other aspects.
Following his remarks on blockchain-based apps in gaming, Termezy deep dived into the economics revolving around games, and the development blockchain can offer.
“When you allow for ownership, and you have a marketplace, then the market dynamics will start governing what people regard as being rare, and what people regard as being extremely valuable, versus what people regard as being relatively common.”
Upon discussing ownership, Termezy reportedly claimed that with the support of blockchain for a digital product or in-game aspect – particularly an asset – will grant said asset the tradable feature, and simultaneously displaying how legitimate and valuable the asset is, through blockchain insights.
Termezy has reportedly used the reference “token economy” for this, with transferring activities concerning the asset will also be carried out, beyond the scope of their specific in-game world.
“A developer can clearly influence this by the number of assets of each type that’s minted, but ultimately it allows for the players to express themselves — what they find to be valuable.” Termezy further claimed regarding in-game asset scarcity and market activity.