Blockchain gaming has an enormous amount of potential to change the way that people play and interact with their favorite games, and the industry at large. Though it’s still in its early stages, blockchain gaming is poised to disrupt the multi-billion dollar industry we know today. There are certain key trends that you should be aware of as you consider how this technology might change your gaming experience. Let’s take a look at some of these trends right now!
Gamers are early adopters
As avid early adopters of new technology, gamers are always on the lookout for the next big thing. And when it comes to blockchain gaming, they are not disappointed. With the advent of blockchain gaming, gamers can now enjoy a whole new level of gaming experience that was not possible before. They can play in an immersive virtual world and earn cryptocurrency rewards as they play!
This development has also opened up a lot of doors for players who want to create their own games with cryptocurrencies as an in-game currency. The possibilities have never been so limitless!
Game developers are on board with blockchain
1. As the gaming industry looks for new ways to engage players and create more immersive experiences, blockchain technology is emerging as a potential solution.
2. Blockchain gaming could provide a new level of interactivity and transparency, while also giving players more control over their in-game data and assets.
3. Some developers are already experimenting with blockchain games, and while the jury is still out on whether they will catch on, there's no doubt that the technology has potential.
4. For example, NFTs (non-fungible tokens) can be used to represent digital goods such as weapons or characters.
5. Rather than having ownership tied to an account or a centralized database, these items have ownership recorded on the blockchain so that it cannot be tampered with or stolen by hackers.
6. Decentralized apps like CryptoKitties allow users to trade unique virtual cats, which are based on Ethereum’s ERC-721 protocol.
7. Blockchain game assets can also be exchanged through cryptocurrency wallets rather than traditional accounts, potentially eliminating fraud and making the game more accessible to those without bank accounts or credit cards.
Corporations are starting to use blockchain for gaming
According to a recent study, 43 percent of corporations are now using blockchain for gaming. This is because blockchain offers a secure and transparent way to manage digital assets. Additionally, blockchain can help reduce fraud and ensure that games are fair. As more corporations adopt blockchain technology, we can expect to see more innovation in the gaming industry. Currently, one of the most popular examples of this innovation is CryptoKitties. Launched by Axiom Zen in November 2017, CryptoKitties allowed users to purchase and trade digital cats. The game’s popularity was so high that it clogged up Ethereum’s network, causing gas prices to skyrocket from $0.2 per transaction on December 7th 2017 to $6 per transaction on December 11th 2017 (a 23x increase).
Online gaming is ripe for disruption
The $100 billion gaming industry is no stranger to disruption. The rise of mobile gaming and the fall of console gaming are two recent examples. But the next big disruptor in the gaming industry will be blockchain technology. It’s not just hype; crypto-based games have a substantial growth rate, doubling from 10% to 20% year over year. In 2018, crypto-based games grossed an estimated $2 billion in revenue—a figure expected to reach $6 billion by 2020. A number of developers and studios, including Ubisoft, Riot Games, Atari and ConsenSys, are already betting on this trend. Cryptokitties, for example, is one such game that is capitalizing on digital scarcity. Cryptokitties allows players to buy and trade collectible cats that exist as data points on the Ethereum blockchain. Some digital cats sell for thousands of dollars at auction or trade hands privately for tens of thousands of dollars in cryptocurrency, making them some of the most valuable virtual items ever created.
How will gamers benefit?
Gamers will benefit from blockchain gaming in a number of ways. For one, they'll be able to trade in-game items with other players easily and securely. Additionally, they'll have more control over their data and game experiences. And because blockchain technology is still in its early stages, there's a lot of potential for new and innovative features that could change the gaming landscape entirely. So if you're a gamer, it's definitely worth keeping an eye on the future of blockchain gaming. But don't worry about learning how blockchain works or programming anything yourself. As the technology develops, many services will be developed that make it easy for anyone to get involved without any programming skills at all. For example, there are platforms like EnjinCoin which allow gamers to buy and sell virtual goods while using smart contracts to keep things safe. They've also created an SDK which helps developers create games with those same built-in smart contracts. It's safe to say that blockchain gaming has a bright future ahead of it - so go out and explore!
How can you get involved?
There are a few ways to get involved in the blockchain gaming industry. The most obvious way is to develop or publish games that use blockchain technology. This option is best suited for those with experience in the game development industry. Another way to get involved is to invest in companies that are developing blockchain gaming platforms or applications. This option is best suited for those with experience in the investment industry. Finally, you can simply play games that use blockchain technology.
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