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- 1 Blockchain gaming allows individuals to own in-game assets which enhances the gaming industry.
- 2 Though many gaming industries are against blockchain gaming, blockchain is still thriving amidst all.
In traditional gaming, individuals play games like video games to pass the time. Blockchain is extending its opportunities to gaming. Blockchain games enable players to earn money by just playing. Many understand that blockchain only supports financial industries as it involves transactions, storing, and sending cryptocurrencies.
Gaming in cryptocurrencies is becoming a crucial sector where investors and individuals can make money. Developments are being made for better user experience in the gaming sector. Read on to understand the future and potential that blockchain gaming is surfacing.
Blockchain Gaming: Overview
Blockchain gaming is a new wave that gamers are embracing nowadays. Blockchain offers opportunities to players by allowing them to earn NFTs while playing. The decentralized application supports transactions after players have used their NFTs and cryptocurrencies to buy in-game items which are then changed to real physical money in real life. Additionally, there are certain games that enable users to earn cryptocurrencies after completing levels.
For example, My Pet DeFi is a blockchain game that allows individuals to develop virtual pets and then sell them or buy them. Users here can create the NFTs pet and then trade or sell them on any blockchain market platform.
Additionally, blockchain gaming is decentralized gaming that allows players to own their players or characters. Recently, Call of Duty experienced technical errors and most of the gamers lost their players in the process. If CoD was integrated into the blockchain, players who were lost would have been minted as NFTs.
This would ensure that players were not lost but rather stored in players wallets. Besides, it is not easy for hackers to interfere with security, and blockchain gaming encourages the security process. Security is developed in blockchain since players are stored in the encrypted ledger.
Future of Blockchain Gaming
Blockchain gaming has not gained popularity since big gaming industries are still opposing it.
Industries like Sony were seen making moves towards blockchain gaming, it filed a patent for an NFT gaming framework. Sony went on and stated that “The digital asset may be used, via the NFT, across different computer simulations and/or across multiple different computer simulation platforms.” We have yet to learn how Sony plans to use this patent. However, it could indicate their interest in in-game item interoperability.
The future of blockchain gaming is crystal clear. For instance, it is trying to break the entry barrier of users and big organizations willing to incorporate blockchain gaming. Building a gaming application around DeFi models is the other dream, where the focus will be on developing games in a decentralized system.
Emerging market games like CryptoBeast have joined hands with blockchain gaming which allows players to own their assets. This will enable individuals and organizations to participate in blockchain gaming thus, breaking the entry barrier.
Additionally, more developers are willing to cooperate with blockchain to enhance gaming in blockchain. Developers like Square Enix are developing NFTs for some of their most streamed games.
Potential of Blockchain Gaming
By integrating and accepting blockchain gaming in our society we open various doors, we prevent limitations that were witnessed in traditional gaming. For instance, blockchain gives its users ownership and authenticity. NFTs give players ownership and power of their in-game assets. Moreover, blockchain gaming eliminates bad actors and individuals with bad intentions. They employ NFTs in their games to verify players and eliminate players with bad intentions, this ensures that the environment is safe for use by newbies.
Additionally, Blockchain-based games allow players to earn cryptocurrencies while playing. This enables them to earn money while playing. Players in blockchain-based gaming applications design their own players through smart contracts that have value. That enables players to earn cryptocurrencies and later change them to real-life money.
Interoperability is another potential activity that will enhance blockchain games. By increasing interoperability, one can enhance communication. Interoperability is the exchange of information between blockchain networks. Therefore, if interoperability is increased in blockchain games, communication between networks will be improved; allowing players to use their in-game assets on multiple platforms. Moreover, it will increase user experience and create a seamless environment.
Conclusion
It is clear that blockchain gaming is revolutionizing the gaming industry. Although many are against the advancement, there is no doubt that it will offer innovative and new experiences to users and developers. Besides, it encourages players to play and earn cryptocurrencies. By selling and buying digital in-game assets, players can generate income.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
