Steem-Engine Allows For Another Layer Of Value Creation

Source

Having the ability to create tokens is an enormous breakthrough for the Steem ecosystem. I do not think many realize the monumental step this is.

Most of us were awaiting the release of SMTs which did not come into being. Nevertheless, the team from Steem-Engine took it upon themselves to develop the SCOT, which is based upon the SMT White Paper and the code on Github.

Obviously, creating a token for different businesses and communities is important. However, there is another use case that I want to highlight that could be vital to this ecosystem.

Ultimately, when it comes to tokens, we are looking at economies being constructed. I recently came across a post that talked about a novel way to do this.

Gaming is an enormous industry. That much we are aware of. We also know not everyone is into gaming. There are many who are not participants in the likes of Splinterland or NextColony. Does this mean people are shut out of them?

Not necessarily.

On the Steem-Engine exchange, there are a couple tokens called DACH and UE. They were put out by @dachcolony. These tokens are separate from the game yet pertain to it.

Part of the game is buying planets that enhance one's standing. Not being a gamer myself, I am not sure of the details. The two things I know is that, when it comes to popular games like this, certain assets provide the players with a big advantage, hence why they pay for enhanced powers. The second thing is these can be worth a lot of money depending upon the success of the game.

What @dachcolony is doing is creating digital real estate. The DACH is a token that is used to represent the asset that is acquired. The value of this is held based upon the UE holders. It is the resources of the group that are open to trade and use.

The idea is to form groups outside the game (and the developers) to participate. If a number of groups form, people can trade the digital assets and resources among themselves. This adds an entirely new layer to the game.

Here is a write up explaining things in greater detail.

https://steempeak.com/steemengine/@steem-eng/the-brilliant-way-dach-and-ue-is-empowering-gamers

Here is the @dachcolony page:

https://steempeak.com/@dachcolony

This is an entirely new concept that could be applied to any game. We could see the formations of many new economies using this concept. Digital assets are like real estate in the sense they can be owned by many different people. Developers typically built in scarcity models into their games with certain items being rare. These tend to go up in value because they are highly desired.

Tokenization allows for fractional ownership. This is ideal for this type of situation. Hundreds, even thousands, of people can belong to a group participating in the activity even without being a gamer.

This is very exciting news. We see another way that people are innovating on Steem. The ability to construct new economies around different digital assets is groundbreaking for most people. Think of existing applications that are built and what digital assets they have. It opens up a world of other possibilities to those who are involved.

Blockchain along with cryptocurrency is going to be the greatest wealth generation system the world ever saw. We are only at the beginning stages of the innovation that is going to take place. Ideas like this can be multiplied many times over enhancing the entire industry. As more people are exposed to these concepts, usage will increase.

Imagine if someone created a couple tokens on here for some of the major games that have millions of people playing them.

What would that do for the ecosystem?

---

If you found this article informative, please give an upvote and resteem.