What are the Latest Blockchain Gaming Trends and Benefits to Know in 2024?

The emergence of next-gen Web 3.0 technology like Blockchain is allowing enterprises to come across many new opportunities in gaming. This is helping them to attract more players to attain a secure, transparent, and rewarding gaming experience. Currently, the global market value of Blockchain gaming is $4.7 billion which is forecasted to register an impressive growth of $181.12 billion by 2029 (Source: Maximize Market Research).

Let us first understand:

What is Blockchain?

Blockchain is a decentralized ledger that operates on the peer-to-peer (p2p) network. This high-end digital ledger is known to safely and efficiently preserve every kind of data whether transactional, personal, corporate, or inventory, etc. that cannot be accessed or viewed by unauthorized people without approval from specific peers or groups who are controlling the blockchain platform.

From Fintech to Healthcare, and E-commerce to Logistics, Real Estate, Media, and Entertainment, etc. the importance of blockchain technology is sharply rising across industries besides gaming.

Key Trends in Blockchain Gaming in 2024

Developing a blockchain game needs vast industry experience and robust skills. Hence, to establish your presence in this segment, you must seek help from a leading blockchain game development company.

It will also let you discover top Blockchain game ideas for entrepreneurs to attain a competitive advantage. Moreover, to impress your target users, you also have to identify the current trends in blockchain gaming that will gain visibility in 2024.

Let’s have a look:

1. More Use of Cryptos and NFTs

The deployment of cryptos and NFTs in games has gained prominence with the release of decentralized platforms like Upland, Axie Infinity, Splinterlands, etc.

It is anticipated that in 2024, the incorporation of NFTs and cryptos in blockchain games will tend to rise. No doubt, this will serve establishments with an unlimited scope of profitability by engaging a huge player chunk.

2. DAOs (Decentralized Autonomous Organizations) Will Continue to Rise

The arrival of blockchain has also resulted in the formation of DAOs that refer to autonomous entities that are not governed by a single authority but by a group of individuals. It allows people to join and participate in the decision-making process on various issues.

The role of Decentralized Autonomous Organizations will also gain prominence in Blockchain gaming in 2024 and beyond. It will substantially refine the quality of blockchain game development services as more users will have the chance to join the game development process. Subsequently, this will also help many firms to incur surplus dividends and returns by serving their target users with high-quality blockchain game applications.

3. Launching AR/VR Games

Already games that are developed using Augmented Reality (AR) and Virtual Reality are enjoying immense response from players across the world.

No doubt, the integration of blockchain in these immersive 3D games will empower entrepreneurs to deeply engage their user segments by offering an unforgettable gaming quality with plenty of reward-earning options.

4. More Effort on Community Building

What makes blockchain games more appealing is the decentralized architecture that ensures massive end-user participation. It not only enriches the experience of gaming but also widens the scope for enterprises to promote their games with the help of a vast community of users.

In 2024, building communities in blockchain games will also emerge as one of the major trends for establishments to boost their market reach, improve the quality of blockchain game development services, and accomplish other objectives pretty smoothly.

What are the Major Benefits of Blockchain in Gaming?

The popularity of blockchain games is steadily rising with the rapid advancement in technology. As of now, the global population of blockchain gamers is over 37 million (Source: Udonis). This is substantially encouraging investors to join this segment with the incorporation of fresh ideas and thoughts. Besides there are reasons why these games are emerging as a leading investment option for enterprises around the world.

Let’s break into some of these causes:

1. Secure Game Assets

Blockchain games always come with a secured protocol that runs on a peer-to-peer network. This often enables enterprises to prevent duplication, replication, and destruction of their in-game items by unauthorized persons quite efficiently.

If you need assistance when using the secured network of this technology, it will be wise to communicate with an experienced blockchain game development company.

2. Stringent Verification and Monitoring

Previously it was impossible to verify the identity of users when buying, selling, or leasing in-game assets. As a result, hackers acquired these items in the disguise of fake buyers and used them for the wrong purposes.

Now with the arrival of blockchain technology, establishments have the scope to engage with genuine buyers and sellers through proper verification. Moreover, this technology also allows them to actively track the condition of their sold game assets as genuine owners to prevent identity theft and claim a creator fee for every new transaction.

3. Boost User Reach

Blockchain games not only allow businesses to earn dividends but also enable players to evolve as creators to improve the gaming quality with the incorporation of new storylines, characters, levels, etc with massive earning options.

This eventually attracts a huge segment of users across the world to join this decentralized game segment to showcase their creativity and earn surplus rewards.

On noticing this huge impact of such games on players, many firms have started to hire blockchain game developers to only to increase end-user engagement but also to ensure robust profits throughout the year without compromising the gaming experience of players.

4. Ensure Transparency in Transaction

Before the arrival of blockchain technology, it was very difficult to ascertain the quality and market value of various game items. This tended to delay the overall transaction process as players also had to spend time verifying the price and quality of a game item before the final transaction.

The entry of blockchain in gaming is letting players quickly verify the price and quality of every in-game item with the help of an immutable database that contains a detailed and accurate record of all items that are compiled under distinct segments. This eventually allows users to confidently buy genuine game assets with legitimate price tags.

How Do We Help in Blockchain Game Development?

At Red Apple Technologies, we constantly strive to elevate your gaming experience to the next level with the deployment of leading-edge technologies like AR/VR, Metaverse, Blockchain, NFTs, and so on to transform your vision into an amazing reality. At present, we have successfully executed over 1000 projects blending innovation and perfection.

As a leading blockchain game development company, we do have a strong team of experienced and dedicated professionals who are equipped with robust skill sets to bring out cutting-edge next-gen blockchain game applications of various types. They constantly update themselves with the latest industry and market trends to serve your business with a result-driven outcome throughout the year. For all your blockchain gaming requirements, connect with our enterprising team to receive the right service based on your project scope and objectives.