What Are Blockchain Games?
Gaming is booming at a rate much higher than ever. The gaming business is reportedly worth $173 billion today, with strong indications that it will exceed $300 billion within the next five years. A recent spike of new players, particularly on mobile platforms, is driving this growth, making gaming a far more realistic and widely available experience for the approximated 2.6 billion gamers globally.
However, for many, being online for pleasure seems to be no longer their major motivation. As the cliché goes, time means money, and gamers have undoubtedly noticed that they're investing a great deal of money in virtual experiences with hardly any return. As a result, they've begun to explore ways to monetize their passion. However, outside of the arena of eSports, there aren't very many options for casual gamers to profit from their gaming efforts - until recently.
The emergence of blockchain games has flipped the gaming industry on its head by making gamers, rather than developers, the primary financial decision-makers. Play-to-earn or P2E crypto gaming is a growing trend that should not be ignored. But how do blockchain games work?
What Is Blockchain Gaming?
Blockchain gaming is a type of game that uses genuine item ownership out of the same technology that runs cryptocurrencies such as bitcoin and Ethereum. It is a game-changing invention for gamers who previously approved that their items will be locked in games indefinitely. Typically, gamers are used to wall gardens that prohibit them from freely moving items in and out. To gamers who have been looking up at these Attack On Titan-sized barriers hoping for anything to shake things up, blockchain acts rather like a wrecking ball.
Without the titans, these new systems present intriguing advancements. Blockchain gaming allows gamers to authenticate the rarity of their items and share anything with anybody. This new possibility exists without the need to go through hurdles or sell your whole account to relocate just one small item a buyer wants. This establishes a new player-driven economy in which games shouldn't have to worry about new releases or dubious DLCs and could instead create new marketable content that retains gamers.
Gamers are so accustomed to game-hopping to satisfy an itch that they typically purchase new games almost every other month in an attempt to keep up with fads and buzz. Everyone benefits if they can extend hours of gaming to their best games whilst spending more money in-game. This is particularly useful for gamers when systems allow developers to charge transfer fees to monetize in-game trading.
How Does Blockchain Gaming Work?
A blockchain is a structure that employs cryptography to sequentially connect chunks of data. Because a modification in one block might disrupt the entire chain, every data unit on the blockchain is distinct and unchangeable. The fact that every digital asset in blockchain games is distinct is what sets them apart from other types of games. For these digital assets, a non-fungible token (NFT) is a specific data unit stored on the blockchain.
One aspect of blockchain gaming is play-to-earn, in which a player earns his own distinct NFTs or cryptocurrency via merit-based advances in the game, that he could subsequently convert to real money. Blockchain technology has incorporated the notion of digital asset ownership since each NFT is unique. Previously, a piece of digital art could be easily replicated and used by many without acknowledging the original artist. If, on the other hand, the artwork is stored on the blockchain as an NFT, the owner could assert the power to preserve or sell the artwork to whoever he likes. It's worth noting that this works considerably better for games than for artwork.
Blockchain gaming provides gamers with total ownership over the digital assets they earn or obtain as a result of their participation in the games. Even if a gamer pays real money for digital goods in conventional games, he will lose access to them if the server goes down. Both the money and the game assets would remain in the publisher's or developer's ownership. However, blockchain game players maintain complete control of their digital assets, letting them trade freely with other players, sell items for real money, and even use them across many game worlds.
What Is Crypto Gaming?
Since traditional games are centralized, all things and experience (XP) obtained while gaming can't be utilized in other games. The introduction of blockchain technology into crypto gaming transforms this. Gamers could now utilize their items and rewards on many cryptocurrency gaming sites.
Crypto gaming also allows gamers to make money. This is known as a play-to-earn system, and gamers can engage in it in several ways. This offers a completely new aspect to the gaming industry: the concept that gamers could earn cryptocurrency while playing games. According to Worldwide Asset Exchange, this is a positive move, as three out of every four gamers want to use their currency on other gaming platforms.
What Types of Games Will Be on the Blockchain?
For decades, video games developers have pushed the boundaries of technologies to build larger, longer, better, and more complicated games. In the past year, however, blockchain games became the next big thing in gaming, not photorealistic visuals or next-generation technology. There are now hundreds of blockchain-based games on the market, and that number is projected to grow as more creators and players embrace this new technology.
Cryptocurrency Games
Many blockchain developers include digital tokens into their in-game systems since cryptocurrency and the blockchain work hand-in-hand. Rewards obtained in-game, such as genuine cryptocurrency tokens, are not subject to the same concerns as other digital rewards since the blockchain is decentralized. There are "play-to-earn" cryptocurrency games that let gamers earn for playing, and there are also dapp games that aim to teach players about cryptocurrencies and the blockchain.
NFT Games
Non-fungible token-based blockchain games are the second most common type. As a result of NFTs' rising popularity on social media, several platforms are now dabbling in NFT profile pictures. One of the distinguishing features of NFT gaming is that players can acquire unique digital assets that they could then keep outside of the game.
Crypto RPG Games
Crypto RPG games function just like traditional RPGs, filled with monsters and dungeons. The main distinction is that they are powered by NFTs and blockchains. RPGs, or Role-Playing Games, are a popular video game genre that never gets old. Fantasy themes, fascinating narratives, and complex characters with special abilities are common in RPG games.
Blockchain gaming is here to stay, and it has the potential to fundamentally change the nature of gaming. Building a micro-economy inside a game is one of Blockchain's most practical uses in gaming. The more sophisticated crypto gaming grows, the more gamers will be drawn to it. Blockchain could redefine the future of gaming.
