Adoption of Blockchain in Gaming Industry

The gaming industry is probably the biggest innovator, so it was no surprise that it adopted blockchain so quickly. But how does blockchain technology affect the gaming experience, and will the world witness another trick from the sleeve?

In this article, we will review how blockchain gaming will revolve in the new metaverse.

What is decentralized gaming?

Before we discuss the role of Bitcoin and Ethereum in the gaming world, we need to see what exactly is "decentralized gaming" and what change it brings.

Gamers are familiar with the term "asset" when it comes to video games. These assets could be in-game currency, items, or even characters that are used to increase the player's abilities. Blockchain gaming brings this concept outside of the virtual world, into the real-world economy. When a gamer obtains an asset from a blockchain game, they now have something of value in their hands.

In traditional games, developers have total control over the distribution of items and currency. Which sometimes might be a problem, if they decide to ban a user or give someone bigger rights. But if you buy BNB to purchase an asset (like a skin or something), you will use real cryptocurrency, thus you will have a legitimate investment.

What is NFT, and why is it essential in the blockchain gaming experience?

A non-fungible token, or NFT, is a digital asset stored on the blockchain that pairs with a virtual or physical asset. The term "non-fungible" means each token is unique and cannot be replaced. This digital token can be paired with your favorite video game character or any other form of digital property, from houses to diamonds.

Non-fungible tokens, or NFTs, are unique digital assets that can't be duplicated or forged. NFTs can take many forms, such as the magical sword you use to slay monsters or the arrow that takes down your prey from afar. NFTs are a rarity in the world of blockchain games and other digital assets because they're scarce by nature: you can only hold one at a time.

For example, if there are some very powerful items that are only 10. You cannot get access to more, thus you have to buy one of those 10 to be able to use them. In traditional gaming, game owners could manipulate the rules, thus giving their favorite players access to more powerful items that are unavailable to other people.

Since blockchain games run on the Ethereum network in most cases, game developers cannot make something without being seen. Transparency keeps the game fair for all.

Make money from playing games

Play-to-earn games have given way to blockchain-based play-to-earn games. In these, gamers can earn rewards by playing the game and engaging with others, just like they did before the existence of cryptocurrency. However, there are a few key differences that set them apart from traditional games.

Way 1: Sell earned items

User X is looking to sell his rare item because he requires money to upgrade his equipment or because the item has no value to him anymore. User Y is an avid collector who would love to add this item to his prized collection and is willing to pay for it because of its availability and desirability.

Way 2: Earn cryptocurrency and sell it

Gamers are starting to look for ways to use cryptocurrency in games. One example is Sandbox, which launched a cryptocurrency called $SAND that could be exchanged for fiat currency if earned in-game. This allows gamers to earn real money while playing online, but it also pushes developers to include cryptocurrencies in their games to gain more players.

Metaverse games

The term "metaverse" refers to the digital space where people connect and interact in a multitude of ways. It includes services like augmented and virtual reality, gaming, and video. For example, with virtual or augmented reality, apps can change the appearance of real-life spaces to fit their imagery. In virtual reality, apps can transport people to new locations and sightsee from there.

Obviously, creative game designers could utilize this piece of tech to gain a massive presence in the virtual space.

Which is the most played blockchain game?

Splinterlands. It is a decentralized collectible card game that lets you use blockchain technology to interact with other players, build up your own collection of cards, and battle them whenever you want. The game is similar in concept to those of Magic the Gathering or Hearthstone - you can have fun and challenge others across the globe.

But unlike those games, Splinterlands lets you actually control your digital cards and trade them however you want without any interference from an outside entity. It has over 290,000 users.

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