In the beginning, the centralized infrastructure of the digital world denied players the privilege to control gaming assets and rewards as owners.
Right now, the web world is advocating decentralization. This has resulted in the arrival of advanced technologies like Blockchain, Metaverse, NFTs, IoT, etc. in the gaming industry to grant surplus opportunities to players.
We have already briefly touched on the topic of blockchain and NFT in the previous post- What are the 5 biggest mobile gaming technology trends 2022?
Currently, the objective of this post is to discuss:
What is Blockchain in Gaming?
It generally denotes games that run on blockchain technology. Such games serve users with a decentralized environment. As a result, they enjoy multiple privileges like gaining asset ownership and control, creating or modifying gaming content, etc.
These games let users make money in cryptos, NFTs, and real cash either by selling or exchanging their earned rewards and assets quite securely.
The arrival of blockchain in gaming has resulted in the emergence of new business models known as Play-to-Earn or Play-to-Win gaming. It is allowing developers to explore new opportunities in the gaming world.
What are the Key Benefits of Blockchain Technology in the Game Industry?
Blockchain technology is serving the gaming world with enormous prospects. Presently, the market size of blockchain gaming is $4.6 billion. In 2027, it will grow to $65.7 billion (Source: MarketsAndMarkets).
This is indeed a golden chance to make money which you should execute with the help of a professional blockchain game development company.
It is time to explore the benefits that Blockchain brings to the game world:
1. Own and Control Game Assets
Previously, developers only used to own and regulate gaming assets and rewards.
Blockchain gaming is also letting users directly own and control game assets and rewards. Moreover, it also empowers them to create new game assets and sell them to earn money either in cryptos or real cash quite smoothly.
2. Smooth Retrieval of Assets and Rewards
Initially, players never had the option to claim their earned rewards and assets when a game no longer exists.
The entry of blockchain in gaming is aiding players to smoothly retrieve their earned rewards and assets even when a game ceases to exist.
As blockchain is a decentralized ledger, it lets you find the records of your earned assets and rewards in gaming quite conveniently.
3. Track Genuine Owners and Items
Sometimes, hackers tend to lure you in the disguise of a developer to purchase stolen or fake game items and rewards. In the process, you end up sharing your personal and financial information with the wrong person.
But in blockchain games, you do have the chance to verify the ownership of every user who approaches you to buy their in-game assets and rewards in advance before spending the money.
Moreover, you will also have the scope to verify whether all items that they want to sell are NFT tokenized or not. It will easily help you to know whether these items are genuine or not.
4. Promote Interoperability
Using assets of one game on another gaming platform was previously an impossible task. Now, with the entry of blockchain in gaming, users do have the opportunity to utilize assets of one gaming platform to other gaming applications quite smoothly. This ultimately elevates your gaming experience quite superbly.
Besides, blockchain also lets you create a universal profile. This eventually saves you time and lets you instantly connect with blockchain games to receive surplus amusements quite consistently.
5. Massive Collaboration
Previously, players hardly had the scope to directly involve in gaming projects. This was due to the existence of a centralized authority in the digital world.
Now, the scenario is completely different. The arrival of blockchain technology has ensured greater collaboration between players and developers to optimize gaming quality.
Blockchain technology is allowing players and developers to come up with innovative gaming ideas and concepts that are eventually implemented on a consensus basis to improve the end-user experience at the highest level.
6. Secure Transactions
When making money from gaming, you have to take precautions to safeguard your earned wealth from unauthorized access. Seeking assistance from a professional blockchain game development company will help you to securely and smoothly transfer your earned money comprising cryptos or real cash.
Is Blockchain Technology the Future for Online Games?
Blockchain has equipped gamers with plenty of opportunities and privileges. This is ultimately revolutionizing the end-user experience pretty magnificently. According to the Huboi Research Institute, the integration of blockchain into the gaming world will strengthen player engagement and create new earning alternatives subsequently.
The institute has also published a report named “The Future of Blockchain Games: An In-Depth Analysis” where the long-term potential of blockchain technology in the gaming world is evaluated from the perspectives of developers, gamers, and other stakeholders. The report also assessed how new earning opportunities will uplift the quality of blockchain-based game development blending creativity and cutting-edge technologies.
As the era of Web 3.0 is closely approaching, the deployment of blockchain technology will allow users and developers to jointly involve in the gaming world to make money or boost game quality with unique content.
In this context, the senior manager of Huboi, Walter Lee commented, “Overall, the transition from Web 2.0 to 3.0 for gaming applications will open up a whole new range of creative models as players will be empowered with true ownership of digital assets through blockchain technology (NFT), this is game-changing indeed.”
Why Choose Us?
At Red Apple Technologies, we are committed to serving you with result-oriented solutions depending on your project complexities. We are quite aware of how the technology landscape is rapidly evolving with time. Hence, we keep ourselves always updated with the latest technology trends to meet your expectations and requirements with perfection.
Our specialization covers game and app development, software development solutions, e-commerce solutions, art, and design, etc. We have also successfully executed projects on trending technologies like Blockchain, NFT, Metaverse, IoT, etc. on time.
Our talented professionals will help you to build immersive blockchain games from scratch. They will offer you invaluable guidance to choose the best blockchain game ideas to boost revenue generation. We prioritize client satisfaction for which we are always prepared to walk the extra mile until meeting the desired objectives.
Do you want to build blockchain games?
We will be indeed happy to fulfill your requirements using cutting-edge resources. Talk to our representatives now.
The game world is gradually serving users with a decentralized environment. The purpose is to create a win-win situation for developers, publishers, and players. This concept of decentralization has gained momentum with the arrival of blockchain technology. This technology has granted players the privilege to attain ownership of their earned rewards and assets. Moreover, it is also letting them exchange assets across gaming platforms running on blockchain technology. Finally, to make money from this gaming segment, you need to hire experienced blockchain developer professionals.
How to Start Playing Blockchain Games?
Answer: You have to first purchase crypto coins and store them in a digital wallet. Right now, the majority of blockchain games are based on Ethereum which you have to buy first. Now, it all depends on your specific requirements
It will be worth consulting a reputed blockchain game development company. It shall guide you to choose the right blockchain platform to make money in this gaming segment.
What are the Benefits of Blockchain in Gaming?
Answer:Integrating Blockchain technology in gaming will grant you privileges like:
- Game asset ownership and regulation
- Smooth exchange of assets across gaming platforms
- Boost creativity through the collaboration of players and developers
- Secure transactions
- Assessing ownership records, etc.
How to Explore Blockchain Game Ideas?
Answer: When looking for cool blockchain game ideas, you just have to concentrate on factors like:
- Study Your Competitors
- Consult a blockchain expert
- Selecting blockchain platforms
- Work on a unique gaming concept
- Payment gateway options, etc.