Mystery boxes, also known as loot boxes, are a controversial feature in many online games, mobile apps, and e-commerce websites. Some people criticize them as a form of gambling and others question their transparency and fairness. One solution to these concerns is to bring mystery boxes on-chain and create a global marketplace that uses smart contracts to ensure security and transparency. Blockchain technology provides a secure and transparent platform for digital transactions, and smart contracts allow developers to create programmable agreements that are self-executing and enforceable.
Bringing mystery boxes on-chain means that users can purchase them with cryptocurrencies, and the transactions are recorded on the blockchain. Smart contracts can be used to ensure that the mystery boxes are fair and transparent, with the odds of winning a rare or valuable item disclosed upfront and the items randomly generated. Creating a global marketplace for mystery boxes would allow users to trade and exchange the items they win, creating a secondary market for rare and valuable items, which could potentially increase their value over time. It would also enable developers to create a standard for mystery boxes that could be adopted by different games and apps, making it easier for users to understand the mechanics of mystery boxes and compare them across different platforms.
One app that is already exploring the use of blockchain technology for mystery boxes is “Tilted” by Qglobe, which allows creators to launch their own “Tilted boxes” that are verified on the blockchain to increase security and transparency. By using smart contracts, the app ensures that the odds of winning a particular item are clear and that the items are randomly generated, creating a fair and trustworthy platform for users to engage with. Viewers can directly purchase these Tilted boxes either through a live stream or previously posted content, creating a more interactive experience for users and providing creators with a new revenue stream.
Tilted also offers users the opportunity to purchase mystery boxes on live streams hosted by Tilted’s creators, including popular NBA stars, rappers and game streamers. By purchasing a mystery box on Tilted’s live streams, users have the chance to win rare and valuable items, such as signed merchandise from their favorite NBA players or exclusive in-game items from popular game streamers. As these items are stored on the blockchain, they can be easily resold on the marketplace as their value increases over time. The creation of a global marketplace for these items provides users with a new revenue stream and a platform to trade and exchange rare and valuable items won through the purchase of a Tilted box.
In summary, bringing mystery boxes on-chain and creating a global marketplace using smart contracts and blockchain technology can address concerns around transparency and fairness, unlock new monetization and engagement opportunities, and potentially avoid legal challenges and regulatory scrutiny. While there are still challenges and risks to consider, the potential benefits are significant, as seen in the example of the “Tilted” app by Qglobe.