Gaming has evolved from simple to complex technologies. Gaming has leap-frogged from the 80’s gaming consoles like the game boy, atari lynx & game gear to games powered by modern, advanced technologies, i.e. Facial recognition, Virtual reality, Augmented reality, Voice control, among many others.
The gaming industry is advancing at a fast pace & revolutionizing the gaming experience by integrating different, intriguing technologies to improve user gaming experience. With the invention of blockchain, many expectations and changes are happening within the gaming & game developers communities.
Bitcoin ushered in the age of cryptocurrencies and blockchain, and for a long time, blockchain has been closely associated with cryptocurrencies. But, that appears to be changing because blockchain is a vital technology across all industries. In the gaming industry, some of the earliest implementations of blockchains were through tokenization and virtual currencies.
The current adoption of blockchain technology is motivated by liquidity & the blockchain structure. In 2020, the global digital gaming industry was estimated to be worth $152.1 billion and is set to reach $256.97 billion by 2025. The industry is lucrative. With blockchain smart contracts, the industry integration with the blockchain crypto industry allows it to be part of a larger blockchain ecosystem.
On one aspect of crypto gaming, decentralization might influence games to be completely run from a blockchain ecosystem. The developer cannot alter the game without a go-ahead from the gaming community. While on another, crypto gaming could be a hybrid model where the game runs from a central server while some features and gaming assets are traded over a decentralized, blockchain-powered marketplace. In either model, blockchain processes the in-app assets into valuable, legitimate blockchain assets with permanent value.
Apart from the above, blockchain has a lot more to offer. Here are some of the solutions that blockchain has to offer the gaming industry;
1. Solve item theft & fake in-game assets by granting valuable, immutable ownership of gaming assets.
2. Tying assets to the player rather than the game. Ensuring that the players’ time and financial investment are protected regardless of the developer’s decisions.
3. Players can encourage creative user content and games’ longevity by participating in developers’ decisions directly and preventing undesirable actions by the creators.
4. The gaming industry can refocus game efforts to benefit both players and creators by changing the measure of success from revenue to in-game currency.
Gaming has come a long way, and the future of gaming is set to increase in value through the integration of modern technology trends. Blockchain, on the other hand, is infamous for the transfer of value and digital assets. Both industries and technologies share a desire for digital assets in the spirit of a trusted ecosystem. Blockchain offers solutions to existing problems in the gaming industry. Blockchain games benefit from Dapp features, e.g. the use of non-fungible tokens and transparency. The technology has introduced the future of immutable data, which might contribute to the imagination of game narratives, and blockchain games provide a solution to most issues faced by the industry.
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