Revolutionary technology is re-shaping the world in an unimaginable way. From shopping, dating, gaming, communicating to money transactions everything that was tangible and could only be experienced through real world is shifting towards online platforms, thanks to the digital revolution we are witnessing today. Technological changes sets the trends in the online world and now the latest technological trend bombarding the online world is Blockchain and cloud computing.
Let’s understand the two technical trends, the Blockchain and cloud computing and their impact on the gaming and advertising world.
Blockchain is a decentralized platform where anyone and everyone can access any kind of data from across the world. The essential part of the Blockchain is that it secures and encrypt data transactions making it the safest data sourcing and transaction platform.
Blockchain in adverting:
The advertisers all over the world are putting Blockchain into consideration to identify their target consumers, to source relevant data about them and to understand their behavioral patterns. From the data collected through Blockchain the advertisers can create relevant and highly impactful advertising campaigns.
Block chain and gaming companies:
Gaming world is readily adopting the Blockchain and cloud computing technology to create Blockchain based decentralized gaming apps. The involvement of crypto-currencies and NFTs for the purchase of gaming assets engage consumers on a personal level. Gaming platforms have both casual as well as hardcore customers. The consumers with high disposable income and high brand loyalty are the target audience of both gaming and non-gaming brands.
Advertising and gaming companies.
Both gaming and non-gaming brands want to associate with the gaming platforms through advertising due to the advent of Blockchain in the gaming world. As Blockchain based game facilitates easy data-sourcing, secured transactions and un-editable data records, they help the advertisers to get relevant information or data on their target audience.
Non-advertising brands can reach the gaming audience and their potential consumers in a cost-effective manner through advertising on Blockchain based gaming platforms. Blockchain helps advertisers and brands save their huge time, effort and manpower involved in collection of relevant data on their target audience. Moreover, through accurate targeting the brands can reap greater brand value by creating better engagement points.
The advantages and limitations of Blockchain and cloud computing in advertising:
- No scope of errors in data collection.
- No third-party is involved for data management and verification as the owner and buyer are directly related.
- Data on the Blockchain is un-editable, transparent and secured making it the right platform for advertisers to pick data from.
- Enables better user experience and therefore increased user engagement.
- Advertisers can collect accurate information about the target audience and formulate effective advertising campaigns accordingly.
- Trust building between the customer and the brands gets easier with secure, transparent and safe transactions.
Drawbacks of Blockchain in advertising:
- The Blockchain technology is at a very early stage and cannot be readily adopted by every brand.
- It cannot fit every marketing model as different business have different advertising needs.
Coming back to where we started, gaming platforms, advertising and the Blockchain technology:
We must consider that Blockchain technology is reshaping the gaming world and making it a relevant platform for data collection and storage for both gaming and non-gaming brands. However, not every marketing and business model fits into the Blockchain technology and therefore the existence of traditional marketing and advertising models will never cease to exist.