Blockchain technology has greatly impacted the digital world. Even though bitcoin plus finance, in general, will pop up in some peoples’ minds when they think about this tech, the truth is it has gone beyond these two. The global gaming industry, which makes millions of dollars each year, has embraced it. Take a look at how blockchain is reshaping gaming.
Gamifying Real-Life Activities
Blockchain is likewise combining reality with a kind of virtual reality. Think about this: you going exercising then you gain some digital coins provided that you spend them on the web, in crypto gaming or playing book of ra. You do not have to picture all this because already there exist applications that can transform your everyday activities into some sort of game. With this game, you’ll be rewarded for your hard work with coins which are then used in another virtual platform.
New Territory is Open for Game Developers
You might be a skilled developer with an awesome concept for a particular game that you think is going to greatly impact the global gaming industry. Nevertheless, you lack the necessary experience in this field. Centralized gaming establishments work in an extremely cutthroat environment, and being experienced is a prerequisite for them. You’ll probably wait for some time before you get the opportunity to create your game. With blockchain, there’re various resources that will assist you to develop a decentralized game. It has brought about the development of blockchain-based games. You might already have an idea regarding CryptoKitties. On the other hand, games such as Decentraland enable you to purchase a parcel of land in a virtual blockchain space to do whatever you want with it. Eventually, the game unravels into a universe the same as ours with things like businesses and real estate.
Blockchain Technology Can be used for Payments
Nowadays, you can do some customizing with most games. For instance, some characters might fight better with a unique weapon or you could unlock a bonus level after paying something. Cryptocurrency payments, purchases are done in-app can be achieved since micropayments are able to transfer directly from players to the game’s developer. This is achieved because the blockchain technology is secure enough.
Blockchain additionally brings value to developers of games, be it regular online games or even bitcoin gambling. Rather than publishing to a central market space such as the Google Play Store, game designers can directly reach consumers via a decentralized marketplace, thus eliminating the ‘middle man.’ Blockchain technology facilitates faster plus cheaper purchases.
Blockchain is Improving eSports Betting
Similar to casino gambling, eSports betting gains from blockchain tech. This technology establishes a trustless and secure system for betting with low fees beyond the control of a focal party. It opens up areas which are that are known to be strict on betting, for instance, bitcoin gambling to an entirely different community of gamblers.
It Can Detect Fraud
Loss of revenue as a result of fraud is a major issue affecting the global gaming industry. Since some gaming platforms don’t have ways of sanctioning players plus exchange they make on the system, it enables fraudsters to wreak havoc. In the absence of a dependable framework when purchasing and exchanging virtual assets, it becomes difficult to trust other players and keep away from scam. Nonetheless, blockchain can alter this by giving all the fundamental info to verify authenticity. It’s transparent, thus making it difficult to be hacked. Its privacy features guarantee exchange that is devoid of fraud.
Guarantees Equality in the Industry
Some players believe that the house always wins. However, with Blockchain, it’s not the case anymore. Blockchain has brought about equality in games. Smart contracts, blockchain tech, plus cryptography have all joined forces to come up with a system that guarantees equality in any game, for instance, popular mobile games in the mobile gaming industry, etc. that have their technology.
Blockchain-Based Games Enable Gamers to Actually Own their In-Game Assets
Another advantage of blockchain technology in the gaming industry is that you as a gamer get to won your assets. A blockchain game will utilize smart contracts to manage transactions within the game, thus making the difference. Smart contracts are automatically executed when conditions coded in them are realized. When a blockchain-based game is launched, every in-game asset which your players purchased using smart contracts is transferred to their public address. Moreover, smart contracts enable each player to view the regulations.
As evidenced by the info above, blockchain technology has impacted almost every facet of gaming. It has opened a new frontier for developers, payments have been made faster, cheaper, and safer, gamers get to own their in-game assets, plus it is gamifying real life. The future of the global gaming industry is amazing.
Are there any other ways in which this technology is transforming the gaming world? What about mobile games; is the increase in mobile gamers something worth noting for the big game developers? Let’s keep the discussion going in the comment section.