Blockchain is already planning various significant industries. But a particular sector, specifically, developed for a symbiotic relationship with blockchain technology.
The Gaming industry is a $100 billion industry that can bring about the massive quantity adoption of blockchain technology. And blockchain tech can move gaming to greater heights.
Blockchain is already becoming increasingly widespread, mainly through the onset of Bitcoin, blockchain gaming can comfortably become a wonder itself.
A few years ago, blockchain became a trendy topic in technology, with more familiar brands actively taking an interest. In the previous year, the Los Angeles Dodgers released the first-ever Crypto Bobblehead Night at Dodger Stadium. Currently, Lucid Sight is bringing officially licensed Star Trek ships to the game to be auctioned as digital collectibles during a limited-time event.
Blockchain Game Basics and the Key Features
Blockchain games are using several levels of decentralization as part of their mechanics. Through the tokenization of gameplay and smart contracts, they provide absolute ownership of digital items. Blockchain technology also allows cross-game interoperability, player-driven economy, and also play-to-earn gaming models.
The Key Features of Blockchain Games Include
- Player Driven Economy
- Non Fungible Tokens (NFTs)
- True Digital Ownership
- Decentralized Assets Exchange
The Current State of Gaming
Blockchain gaming, like other standard blockchain solutions, must be observed on its advantages and selected separated on its defects before it can be decided if it is the future of the space. The increment of the blockchain gaming market also requires to be weighed on its ability to integrate, as well as prevail, traditional hurdles.
The blockchain is already viewed as a potentially valuable tool in this current gaming world. It can offer a decentralized asset exchange, confirmable scarcity of virtual objects and collectibles, quick and safe payment networks, and a tendency for developers to monetize their creations accurately.
Because gaming assets are quite as significant and valuable as tangible assets, the blockchain provides detectable proof of provenance of certain virtual items. Furthermore, the digital tokens from blockchains add massive payment advantages, especially beneficial for esports, developing native in-game tokens, and driving uninterrupted transactions on decentralized exchanges.
But, blockchain is no more just an ordinary tool for the gaming industry to use and incorporate. It has also become a market unto itself, with various companies actively pursuing the development of high-end gaming experiences based on blockchain support.
Games Available Using Blockchain Model
Age of Rust
This sci-fi adventure game puts the player in the role of an explorer. You make your way through different environments, such as space stations and caverns. While playing, you can earn cryptocurrency.
This game is impressive. Your greatest reward is getting crypto for solving puzzles and discovering the hidden treasure.
Crypto Space Commander
CSC’s motto is ‘mine, trade, battle, craft,’ and you’ll do absolutely that. Set in space, CSC evokes imagery of No Man’s Sky in the blockchain universe. You’ll journey to various solar systems, find resources, and even battle pirates.
Referring to itself as the ‘world’s first AR combat game, ‘Reality Clash puts you in that sweet position of increased reality to battle friends and computer AI.
You can defend and navigate around your location. Defending local points like that are something out of Hardcore Search and Destroy in Call of Duty. The notion is inspiring.
Sadly, the three countries it’s not currently available in are the United States, China, and South Korea. However, they’re soon coming, and the rest of the world has instant access to the game.
The motto of this game is ‘Where games and art collide.’ This is truly an unusual title in that it exhibits artwork from users and shares them with the other art community.
This is an advancement not only for gaming but for art and art criticism. It’s one of those titles that will benefit an individual in several ways. Individuals were probably self-conscious about their work, but this game helped them finally show it.
It’s an opportunity for growth and also has a gamer-centric decentralized experience. They will have contests and artist competitions within the community for an extra layer of immersion.
Spreading across 26 different continents, Evolution land puts its players in the blockchain model of gaming by handling cross-chain transactions.
Players will mine the land, find resources, set tax rates on the land, buy, and sell the land, etc. It mashes up several types of gameplay, such as auctions, micromanagement, combat, etc.
The different continents will later transform into different nations, unavoidably causing conflict between the countries. Trade wars and everything that comes with conflict will be made available.
Blankos Block Party
This game is pure fun. Presented in a cartoonish style, players must collect the avatars or Blankos. They’re all unique, giving players an incentive to receive everything.
Players will use their Blankos in the game to level them up, in turn making them extraordinarily unique and valuable. Besides, there’s a skin based on the Golden Ticket that only one person in the world will have.
How Blockchain is Advancing Gaming Sector?
The initial tastes of blockchain gaming involved either card games, digital breeding cats, or digital casinos with games of chance benefiting from a deficiency of centralized control. But game producers are currently taking huge and ambitious steps into the domains of multiverses and MMOs. The benefits of decentralization and asset origin become important when one starts enlarging the gaming sector into world creation, where no actor can manipulate the rules.
Since games have become more multiplayer and co-operative in this internet age, there has been a major focus on fairness and trust. It is a common narrative where when there is a big assembly of various players from a broad spectrum of the global society, centralized control is usually avoided. It is simple to become discriminatory.
This is similar for games, particularly those that enter into the MMO (massively multiplayer online game) where characters’ avatars become the extensions of themselves and seek fairness and inclusivity.
This process of centralized control in games, where those in charge and running the servers are all-powerful and undeniable. So, the decentralized nature of blockchain becomes attractive in this space once more.
How Blockchain in Future Gaming is Going to Contribute to Market Growth?
The gaming market is massive, and blockchain has drawn many investors who are currently moving the industry’s enlargement to new levels.
Presently, there are over 2 billion gamers who either play games through computer devices or smartphones. Games and esports analytics firm Newzoo estimate that the total number of gamers is 2.5 billion, mentioning that 1 in 3 people play video games. Towards the end of this year, people would have spent a total of $152.1 billion on games, which is a 9.6% increase similar to 2018.
Presently, the Gaming industry is one of the fastest-growing industries in the world, and blockchain plays a vital role in refining its image by contributing a new set of possibilities through a more accessible and reliable environment. This, in return, allured investors, lots of whom are specifically searching for gaming firms that adopt DLT.
Some eminent blockchain-oriented investors have been adding gaming firms in their portfolios. For example, venture capital firm SVK Crypto has invested in Mythical Games, Azarus, and High Fidelity. The former is a VR platform co-founded by Philip Rosedale, the founder of the popular game Second Life that utilizes blockchain technology to maintain the ownership of in-game assets and currency.
Generally, blockchain-oriented institutional investors don’t want to stay apart from the increasing growth of the gaming space. So, they might play a significant role in moving the industry’s expansion.
Whenever blockchain technology is added to a new sector or industry, the question required is whether it is a tricky use of the technology or a vital step in the right direction. Primarily, in the gaming space, it is the decentralization and crypto Incentivisation that is presently topping as an argument for its improvement.
One could then debate that, because it is just a game, decentralization is not as important as centralized control of a game that makes it simpler to run and manage. Although, with how the gaming ecosystem is moving, as a severe sport, past time, and source of entertainment, the notion that people should bow to the whims of game creators is passing quickly.
People are presently more thoughtful about their games and gaming life than ever, and the fact that the industry makes more than $100 billion in a year implies the significance of the ecosystem. It would be disrespectful to say that blockchain is wasted on the gaming space, and it would be daring not to pursue growing the industry with this developing technology.