Computer Game Industry and Economy Growth: A Study on How Blockchain Computer Games Make Impact on Current Economy Crisis in Sri Lanka

Abstract

Globally computer gaming industry is a vast industry which rapidly changing with new technology. At first, gaming was just for entertainment purposes. Over the years people played games but did not earn money from them. Cryptocurrency and blockchain technology are game-changers here and created the economic system around the computer gaming industry. At present gaming industry is growing rapidly changing with these new technologies and gamers are allowed to earn income from playing games. On the other hand, introducing this play- to-earn game model for computer game developers and game development companies increased and still increasing their annual revenue. Here the game changer is the blockchain gamification known as NFT games or W3 games. Blockchain gamification created an entirely new economic system around the globe and created a direct impact on economic growth. Meanwhile currently Sri Lanka going through an economic crisis and need solutions to become normal and grow back. The researcher’s goal is here to identify the impact of blockchain gamification on the economy, and how to implement and identify what is the business model suitable for Sri Lanka. Implementing blockchain gamification gives a solution to the current economic crisis and changes the current economic ecosystem. Globally even in covid 19 pandemic other countries started blockchain gamification and even business owners moved to it to earn their daily income and succeed. With the current situation in Sri Lanka, as a solution to the economic crisis, people can move to blockchain games, earn income, and help Sri Lanka’s economy.