A blockchain-powered VR game has launched on Steam for the first time — and now, developers are hoping to win a prestigious award.

Age of ILCOIN is set in a futuristic sci-fi world, and the player’s mission is to protect their cryptocurrency from space alien pirates.

The game, which uses the Oculus Rift VR headset, offers an immersive, 360-degree experience, with blockchain technology adding another dimension to in-game purchases.

It was developed by SYDYG, the owner of ILCOIN, and there are ambitious plans to roll out the game to additional platforms — including the Oculus app store — in the near future.

Ramiro Faro Vélez, SYDYG’s CEO, said the company has several games in the pipeline, and he believes the VR market holds great opportunity.

He said: “The gaming industry is a market already worth several billions of dollars in which an effectively working blockchain technology could achieve great results since the gamers pay countless times for new experiences during the games. Why not make these transactions in cryptocurrency?”

According to PwC, revenues generated from VR games are forecast to reach $1.1 billion in 2020 — rising to $2.4 billion by 2024.

Zooming out to the global gaming market, Newzoo research suggests the whole sector will generate revenues of $159.3 billion in 2020, up 9.3% on the year before. By 2023, this is anticipated to pass $200 billion for the first time.

Norbert Goffa, co-founder of the ILCOIN blockchain project, added: “In the blockchain sphere, the inclusion of a more diverse user base means that the blockchain ecosystem can grow and develop more rapidly. This will highlight the potential both in the blockchain itself and in blockchain within the gaming sector.”

Spreading the word

It’s hoped that the release of Age of ILCOIN will help introduce this innovative blockchain to gaming enthusiasts who might not be familiar with the technology.

The fact that the game is supported by the Oculus Rift headset also has significance. In November 2019, ILCOIN’s blockchain project created a 5GB block on its live network… using the RIFT Protocol. This technology has been described as the first two-layer solution that is capable of effectively handling an enormous amount of data.

More insights from ILCOIN here

It took 18 months of development work to create Age of ILCOIN, and Unreal Engine was used to bring the game to life.

Developers say there is a growing synergy between cryptocurrencies and gaming, not least because these two worlds overlap in many ways. Indeed, several projects have now started to embrace nonfungible tokens, including some of the world’s biggest brands.

Ramiro Faro Velez added: “There is so much work in Age of ILCOIN, which is a lot more to us than a simple game. The gaming market provides great opportunities for those who can show innovation and who are able to give new experiences to gamers.”

Full Steam ahead

Steam is a popular platform for distributing PC games — and as well as offering titles that can be purchased and downloaded, it also allows users to livestream to other players too.

Unlike other games on the site, Age of ILCOIN is free to play. Focka Games, which was also involved in the title’s creation, has also released a range of other VR titles, including DMD Mars Mission.

Age of ILCOIN is hoping to win best VR game of the year at the upcoming Steam awards. Last year, the prize went to Beat Saber, a rhythm game where players slash beats of adrenaline-pumping music as they fly towards them.

As for ILCOIN, it remains determined to continue tackling the scalability problems that have stymied the blockchain industry’s development in recent years. Through RIFT, blocks are synchronized simultaneously — preventing bottlenecks in the system during peak periods and enhancing overall transaction speeds. ILCOIN claims that 5GB blocks mean hundreds of thousands of transactions per second can be processed, paving the way for mainstream adoption.

Learn more about ILCOIN

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