People all around the globe believe that there is a lot of space in developing a business based on blockchain technology and gaming. Due to this, Unitopia is developing blockchain for games, similar to Steam based on blockchain technology.

Unitopia has collected $5 million in funding from a group of investment and financial services companies, local media firm published on April 22.

Unitopia is basically a blockchain research lab of video game developer Electronic soul which has grabbed strategic investment from Shuimu Fenghua Fund, Link Hui Capital, Jun Joint Venture, Digital Chain Capital, and Super Brain Fund.

The main purpose is to form a digital distribution platform with a strong user base and Steam is the model which is used by the developers at the movement. On the platform, all the games will function in a decentralized manner and revenue would be collected and divided automatically with the use of smart contract technology.

Many firms are also taking the same path as Unitopia

Unitopia's idea is unique and exciting however there are various other companies who are trying to achieve the same thing now, and here we are neglecting the Epic Store. Epic Store wants to become popular without accepting blockchain technology.

For example, blockchain game developer Lucid light grabbed $6million to develop a blockchain-based game platform. The firm plans to use the Scarcity Engine, which was built to power games through blockchain for consoles, mobile devices, and computer alike.

Blockchain firm Animoca Brands declared in March that it has made a global licensing agreement with Formula 1 to launch a blockchain game based on the world-renowned racing series. Animoca ensures that the blockchain game will attract new users and the collaboration arrays with the Formula One Owner Liberty Media's purpose to enhance fan experience through constant investments in new technology.

Unitopia's road ahead to become a blockchain-based game streaming platform will be difficult. As there are various competitors in the market and people opt for either one or two platforms, hence the company has to put a lot of efforts in order to become popular in the industry.