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Blockchain Gaming and the Rise of a Black Market
The Problem of Digital Items in Traditional Games
Blockchain gaming is designed to solve the problem of players creating "black markets" for digital items in traditional games. In traditional games, players often trade tokenized, user-owned weapons and skins, which is a key part of open crypto economies. However, the absence of a decentralized, transparent, and secure platform for trading digital items has led to the creation of black markets.
The Case of Off the Grid
Off the Grid, one of the biggest games in the crypto space, has found itself in a predicament. Despite its plans to launch its Avalanche-based GUNZ L1 mainnet and the on-chain item trading and token that will come with it, the game has a bustling black market where players trade skins and GUN tokens for real money. This underground economy has emerged due to the game’s current inability to allow players to trade their items freely on-chain, as its mainnet launch looms.
The Rise of a Black Market
Avid skin collectors gather in clan Discord servers or trading-specific groups, spamming the chat with messages like "Want to buy GUN tokens with USD" or offering to sell their rare skins in exchange for cash. This activity is strictly prohibited in the game’s terms of service, but for players aiming to secure some of the game’s best loot before on-chain trading is implemented, it’s apparently worth the risk.
The Environment of the Black Market
Two of the game’s largest skin collecting whales, Money Magician and torToro, have not engaged in over-the-counter (OTC) trading, as they believe the skins will be worth more once the GUNZ mainnet launches and items can be freely traded on OpenSea. They have received offers, with one of them offering $60,000 in exchange for one of their NFT items.
The Players’ Perspective
For my account, someone offered $60,000 or something, Money Magician told Decrypt. "Maybe it seems reasonable right now, but I still wouldn’t sell it—because I know where these NFTs are going." These whales own approximately 10,000 and 19,000 NFT items each, both starting their collecting through Off the Grid’s predecessor, a compact mobile experience called Technocore.
The Risks of the Black Market
During the testing period, players who bought the monthly OTG Pro subscription for $10 were handed the Pioneer content pack as a thank you, which included eight NFT items. The community believes that only 550 of each were minted at the time. Thought to be even rarer, however, is the Convict gear and Zippermouth Mask that were available to extract via hexes for a short period of time. The community believes that these are the rarest items in the game, with only 300 of each ever minted.
The Trust Risks of the Black Market
Trust risks aside, there are also potential hazards with listing items on the marketplace at all, as a sniper bot could purchase it—especially if it is an ultra-rare item not already on the marketplace. But some traders still persist amid these hurdles.
Conclusion
Until the mainnet launch, the black market will continue to thrive as community members show clear signs that they’re hungry to trade their skins. If Gunzilla Games can’t offer this yet, then much like in Web2 games, players will continue to find ways to trade.
FAQs
Q: What is the purpose of blockchain gaming?
A: Blockchain gaming is designed to solve the problem of players creating "black markets" for digital items in traditional games.
Q: What is the current state of Off the Grid’s trading system?
A: Off the Grid currently does not allow players to trade their items freely on-chain, which has led to the emergence of a black market.
Q: What is the difference between over-the-counter (OTC) trading and on-chain trading?
A: OTC trading refers to the exchange of one’s items for cash or other digital assets, while on-chain trading refers to the exchange of items on the blockchain, which ensures transparency and security.
Q: What is the current state of the black market in Off the Grid?
A: The black market is thriving, with players trading skins and GUN tokens for real money, despite being strictly prohibited in the game’s terms of service.
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