An Empirical Analysis of Player Behavior in Blockchain-based Game : Is It A Game or Speculation?
Moonkyoung Jang, Byungjoon Yoo, John J. Lee · 한국경영정보학회 학술대회 · 2018
Blockchain technology has been adopted to various fields. Gaming industry is one of prominent industries which apply Blockchain technology. Still, people are worried about speculative aspect of Blockchain-based games. This paper examines the effects of speculative and enjoyable aspects on users’ playing behavior in Blockchain-based games. For this, we developed a web crawler and collected data from Cryptokitties, one of very first and successful Blockchainbased games. Fixed panel regression was conducted to test our hypothesis. The result shows that the external aspects of the game are negatively related to item selling, and the internal aspects of the game are positively related to item selling in the Blockchain-based game. This result implies that playing Blockchain-based games is mixed behavior with enjoyable and speculative aspects. Therefore, it is hard to say users play Blockchain-based games is just for fun or a speculation.