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On January 8, Youjiu Games (stock code: 600652) announced that it will use blockchain technology to conduct cross-border attempts with the gaming business. Its subsidiary Youjiu.com will launch a blockchain game channel to conduct in-depth tracking, evaluation, and recommendation of game products based on the underlying blockchain technology that are currently being launched in the market, and to connect to blockchain game products.

According to Youjiu Games, the domestic game industry previously had problems such as distribution channels being monopolized by giants, real traffic being scarce and expensive, game R&D CP share ratios being extremely low, game life cycles getting shorter and shorter, and serious player losses. At the same time, How to protect players' virtual property, how to resist the risk of disappearing at any time, and the lack of credit mechanism in the game also restrict the development of the industry. Solutions can now be found on the blockchain.

The global games market has grown at double-digit rates in recent years, with revenue reaching $91 billion last year. Blockchain has become the hottest topic in the U.S. technology industry as early as 2017. Its non-tampering and distributed storage characteristics make people think that its application prospects are very broad. Industry insiders pointed out that just like the introduction of the iPhone, users began to understand that mobile phones are not just for making calls, blockchain is not just a payment tool, but a new infrastructure for the future Internet. Therefore, this technology may also bring new growth momentum to the gaming industry.

The most popular example of the integration of blockchain and the gaming industry may be the recent virtual electronic cat game "CryptoKitties" based on blockchain technology. After it was launched on Ethereum, it generated nearly 2 million US dollars in transactions in just one week. Well, accounting for 14% of the Ethereum blockchain transaction volume. According to incomplete statistics from the Financial Associated Press, as of today, 10 Chinese Internet companies, including Xunlei, Qvod, Baofeng Group, Renren, Tianya, Qihoo 360, China Online, JD.com, Meitu, and NetEase, have already deployed or Blockchain projects are being laid out.