Providing Genuine Digital Ownership

In 2019, the video gaming industry generated more revenue ($150 Bn) than the film and music industries combined. The total value of existing virtual gaming goods is estimated to be $50 billion in the blockchain space. It is expected to grow to a little over $190 billion within a short span of five years.

In conventional blockchain games (either P2E or M2E), the players buy some form of gaming assets, including but not limited to skins, character upgrades, and war elements. Most players think they own these digital in-game assets, but the harsh reality is that they don't. Regardless of the investment, their ownership over the assets can evaporate at any moment.

The ownership of the majority of virtual goods is an illusion. The gaming assets are provided as a licensed service. They are subjected to restrictive terms of service implied by the gaming company. We mean that you don't truly own the assets and that you are not allowed to use these assets outside of the game where they are provided. This is merely renting the gaming assets and not taking ownership of them.

The renting of gaming assets or virtual assets limits the potential of blockchain-based games by reducing user engagement. This results in a low conversion rate, i.e., only 3% of the total players will shift from free play to paid players. Why would users want to pay for something that they never actually own and that can be taken away instantly when a game publisher decides to shut down the game or alter its terms of service?

Heroum as a gaming publisher, has successfully carved out powerful leadership in the fast-growing gaming space. Heroum offers gamers true digital ownership. Heroum develops and launches NFTs that will last forever, independent of other assets in the digital world. Heroum increases the conversion rate by offering true digital goods that can deliver direct value and ownership, increasing user engagement.