The WAX Advisory Council: Bringing together the greatest minds in tech, video gaming, and entertainment

Inside the Virtual Item Economy: How True Ownership of In-Game Digital Items is the Future of the $100 Billion Video Game Industry

Dec 6, 2018
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Video gaming has become much more than a hobby for players around the world - from professional eSports players, to influencers with lucrative streaming careers. Today, there are over 2 billion global gamers worldwide actively buying into the games that they play. As a result, gamers are spending over $100 billion annually, and the majority of these sales stems from the purchase of in-game virtual items.

However, players don't actually own the items that they're buying, even though they can be spending hundreds or even thousands of dollars on them. That doesn't seem fair. But thankfully that's starting to change as both players and game developers are realizing the benefits of allowing players to truly own their items and buy, sell, trade, or use them however they wish, as we found in a recent survey of 500 video game developers and 1,000 video game players in the United States.

The WAX Team calls this true ownership of in-game items and it's a concept we've spent decades perfecting. With the Worldwide Asset eXchange, it's now becoming a reality. True ownership gives players full control over the items they are purchasing, and gives game developers a unique (and free) acquisition tool for gaining new players.

For an in-depth analysis, download the full report, Inside the Virtual Item Economy, here: wax.io/true-ownership-digital-items

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