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Blockchain Gaming Sets Record Amidst COVID-19 Pandemic

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Animoca Brands, the arm behind the scenes of the blockchain-controlled gaming, The Sandbox, F1 Delta Time, and Crazy Defense Heroes, has given a report  that in the COVID-19 pandemic, unaudited sales were $7.43 million in the first four months of 2020.

The first quarter was the strongest quarter in Animoca Brands history, with sales of $4.33 million, followed by a record month with sales of $3 million in April.

At the end of April, Animoca Brands had $6.08 million of legal and crypto assets. The approximately $770,000 the company holds include Bitcoin (BTC) and Ether (ETH), as well as various altcoins of $1.12 million.

Animoca attributed the increase in cryptocurrency to the successful sale of non-fungible tokens (NFT) titled The Sandbox, F1 Delta Time and Crazy Defense Heroes.

NFT Promotes “property rights revolution”

The founder of Animoca, Yat Siu spoke about the discovery of NFT in 2017 after acquiring a small company called Fuelpowered in Vancouver. The company’s co-founder, Mik Naayem, was also a co-founder of CryptoKitties.

Yat Siu compares the impact of NFTs on the game with the introduction of property rights in feudal Europe and says that owning items in the game compensates for the time and energy that players invest in the game.

The entrepreneur also discussed the company’s strategy with loyal users to acquire established game companies and offer them the benefits of blockchain technology. He said that the acceptance of mainstream blockchain in the gaming environment may depend on the design of smart games that hide the complexity of blockchain technology.

COVID-19 Effective Impact on Gaming

Gaming

Yat Siu pointed out that while the coronavirus pandemic is a short-term catalyst for a large increase in game users, the number of users may decrease as the world returns to normal.

However, Siu believes that the coronavirus lockdown has fostered a “change in behavior” among many new and ‘born-again’ gamers that will last into the longer-term — with gaming becoming a cornerstone of their entertainment-seeking rituals.

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