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5 ways to monetize and improve your life with the blockchain

Once hesitant onlookers have started dipping their toes in the turbulent yet powerful waters of emerging blockchain technology, and increasingly, established companies and technology upstarts are beginning to explore decentralization as both a business philosophy and as a way of structuring their technology. The gaming industry especially, under heavy strain from corporate dominance and a saturated market, is seeking new avenues for growth opportunity, and is pursuing decentralized and open platforms with an increasing fervor.

But simply jumping on board the blockchain train without having anything to offer would be both counter-productive from a business perspective, and a disservice to the movement towards a free, open, and decentralized internet.

To understand why we are passionate about providing broader access to dApps we’ll take a look at some of the diverse ways in which technology startups are implementing blockchain technology in an effort to discover new methods of monetization that will compel the public to inhabit and interact within these networks, including our own technology, BlockHub, a digital distribution platform, marketplace, and community environment that will serve as the home for established dApps, and those still in development.

1. CryptoCountries

CryptoCountries is currently the most successful dApp in Ethereum’s network, overtaking the recently thriving CryptoKitties by achieving a $45-million-dollar-transaction volume within one week. The premise of the game lies in the real ownership of definite, individual pieces of a digitized copy of the world. However, at 4.5 ETH, the barrier of entry is extremely high. In compensation though, because of the finite and very small supply, prices rise incredibly quickly and a profit, at present, is almost always a guarantee.

2. Etherbots

Among the multitude of collection and trading-based games within the ecosystem, EtherBots stand out as the only one that actually provides a gameplay which does not feel like a cuter version of a digital stock exchange. The game fails to offer the “discovery” and “breeding” monetizing appeal that CryptoKitties and CryptoCountries have but it makes up for this by integrating legitimate game-like elements such as customization and battling.

3. Enjin Coin

Purchasing and trading cryptocurrency can be too technical of a task for most, but Enjin Coin may rid that barrier with its linear and user-friendly Enjin Wallet. The “wallet” enables the conversion of fiat currencies to crypto and vice-versa. This would stand as the preliminary foundation of all transactions conducted using the ENJ currency.

EnjinCoins posits several modes of monetization anchored to its “wallet” system. Primarily, it introduces the concept of multi-game tokenization within a single market. Several games within its jurisdiction would be able to have their in-game assets and items tokenized into ENJ coins. Consequently, gamers within the same ecosystem would be able to liquefy their assets into ENJ coins and use it to purchase other items from other games. This fluidity of transactions and ease of asset trading can potentially become a core model for all other platforms to follow.

4. BitGuild

Roughly similar to EnjinCoin and DMarket’s market fluidity, BitGuild introduces its own market and corresponding cryptocurrency — the platinum token ( PLAT). Serving as its fluid currency, the PLAT could easily replace a presently strained payment system. In addition, PLAT could also allow developers to list their games in BitGuild’s platform to sell them, with BitGuild taking less than 10% as its cut.

5. BlockHub

BlockHub will simplify the monetization potential of games by allowing developers to ‘tokenize’ any aspect of their application. What makes BlockHub unique is the fact that the platform will not only host applications but it will also offer developers the necessary tools to easily build, deploy, fund, and market their products while giving the consumer an easy way to discover and support applications that they love while benefiting from their potential for monetization.

And as we’ve seen, the potential for blockchains is huge and only growing by the day. To not take advantage of the fact would be a missed opportunity. It is our hope that by spreading the word, we may foster a growing audience that is not only crucial for the development of the industry but also critical to its future.