By Admin February 16, 2023 5 minute read
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Posts » Gaming Is Only The Tip For Blockchain’s Mass
Adoption. Agreed?
Table of Contents
·
Uses of blockchain in the gaming
sector
·
What motivates
the mass adoption of blockchain gaming?
· Bottom line: The
future of blockchain gaming and mass adoption
It does feel nostalgic
when we look back at simpler times when we used to play 100-in-1 PC games.
Although the graphics and other features were dull and not that interactive,
Super Mario and Pokemon revolutionized the gaming experience for millennials
back in the 90s. Coming to the 21st century, the gaming industry has been on a
rollercoaster ride ever since. Today, gaming and blockchain technology have
shaken hands to give users an unimaginable gaming experience. Keep reading to
know if gaming is only the tip for blockchain’s mass adoption.
Let’s start with the
basics.
What is blockchain?
Blockchain is a type of
database that has a unique way of storing information. The data in a blockchain
is structured differently when compared to a typical database. The information
is gathered in groups called blocks. Each block has a predefined storage limit;
once filled, it will be chained with the previously filled block. When new data
is presented, a fresh block is created, within which the additional data is
compiled, which is added to the chain. This creates a virtual chain of blocks
and, thus, is called a “Blockchain.”
For more detailed
information about blockchain and its pros and cons, click here.
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What is blockchain
gaming?
Blockchain gaming is a
kind of online gaming that uses blockchain technology to create decentralized
and transparent gaming environments. In this, the game assets and transactions
are stored on a blockchain network, enabling players to have ownership and control
over their in-game assets.
Blockchain technology
enables the creation of Non-Fungible Tokens (NFTs) that represent unique
in-game assets and are secured and transparent. Players can also purchase,
sell, and trade these assets in a decentralized marketplace, giving them more
control and ownership over their assets.
Blockchain gaming has
created a new economy within the gaming industry, where players can earn money
while playing games. This has led to the emergence of blockchain-based games,
such as CryptoKitties, Decentraland, and Gods Unchained, among others. These
games have also attracted a lot of attention from gamers and investors,
creating a new gaming ecosystem that uses blockchain technology.
For more information on
blockchain gaming, click here.
Uses of blockchain in
the gaming sector
· Play-2-Earn (P2E) games
The rise of blockchain
technology has given birth to a whole new version of video games, also known as
“Crypto-games,” which are developed using blockchain technology. Crypto games
are different from traditional video games as the players get rewarded in
Cryptos for winning a game or clearing a stage. With these Crytpo rewards,
players can exchange them for real money or utilize them to buy other in-game
assets.
If you have started
playing P2E games, you’ll get Crypto rewards that you can use according to your
personal choice. To put it simply, the goal is to hook the players to the
dynamic gaming experience, where they can earn rewards and boost engagement
with the gaming environment.
· Non-Fungible Tokens
(NFTs)
Non-Fungible
Tokens (NFTs) are virtual assets whose ownership history is
stored on an immutable distributed ledger. NFTs can be any art form, ranging
from a simple piece of art to a song. They can be purchased by Cryptos that are
supported by blockchain technology.
Regarding NFTs and
blockchain gaming, players can completely own their virtual assets with NFTs.
This removes the need for an intermediary, like another player, and it also
gives the players complete control over the disposition of these assets.
· Virtual events
Would you continue
playing your favorite games if they don’t have challenges, tournaments, or mega
virtual events? For over a decade, people around the world have taken part in
huge prize pools, virtual competitions, and other tournaments to win rewards.
No matter how much you want to participate in these games and virtual events,
there have been various limitations that have hugely affected user
participation. Huge registration costs, bandwidth, and cybersecurity are a few
limitations that are faced by the players of online gaming. Adding to these
challenges, there’s also a struggle faced to keep a check-in-balance on the
verification process, which means ensuring that the players are getting their
rewards.
So, to fight all these
limitations and challenges, blockchain plays an important role. It provides players
with secured transactions and stores all the related information. By using
blockchain technology for NFT-based games, players can easily participate in
virtual events and tournaments without having a second thought about the
security of earning the in-game rewards.
What motivates the mass
adoption of blockchain gaming?
Blockchain technology
has experienced a surge in popularity across various industries in recent
years, including web3 game development, where it is credited with fueling
creativity, boosting productivity, and creating new value. The gaming industry
has jumped on the bandwagon and is benefiting from what this innovative
technology offers. Let’s check what is motivating the mass to adopt blockchain
gaming.
· Enhanced security
Blockchain technology
excels in minimizing double-spending and other scams in transaction data done
on android blockchain games because it is secure, transparent, and immutable.
It’s suitable for iOS
blockchain games wherein players can exchange virtual assets (such as NFTs),
providing users with a greater sense of security when trading online.
· Integrated gaming
profiles
As blockchain games gain
popularity, several profiles can be readily created. As a result of its
cross-compatibility, users can enjoy a unified experience on all of their
devices, with one profile that enables them access to all of their games and
purchases. In contrast to more traditional games, blockchain-based games, such
as iOS blockchain games, are already dominating the gaming market.
· Crypto rewards
As players accomplish
the missions and quests in their android blockchain games, they are rewarded
with crypto, resulting in a massive crypto gaming experience. Traditional game
prizes have little monetary value in the real world. Blockchain-based players,
on the other hand, can trade their crypto awards for real-world assets.
· Transaction verification
A blockchain-based
gaming platform can ensure the authenticity of all transactions between users.
Scams are one of the most common issues with today’s gaming platforms; this
helps to reduce that risk.
Companies can use
blockchain to confirm that no duplicate payments on iOS blockchain games have
been made and that each individual has been rewarded for the services or
commodities provided.
This brings us to the
concluding part: the future of blockchain gaming and mass adoption.
Bottom line: The future
of blockchain gaming and mass adoption
Blockchain gaming
is still in its infancy era. Based on an analytics report, around 2,000 gaming
software have only integrated blockchain. Looking at the wide variety of games
on the app stores, we can say that blockchain gaming still has a long way to
go. Before going big in the market, the development cycle of any game takes up
to years to complete and highly depends on the infrastructure, technology,
development tools, promotional strategies, and product design. All these shows
that gaming is only the tip for blockchain’s mass adoption.