Blockchain gaming sounds odd but it has skyrocketed revenue for the online gaming sector. Players are earning rewards in Bitcoins or Tether and generating passive income. The in-game assets are moving out of the game. There are some macro and micro economic challenges but since 2021 the blockchain gaming sector has escalated by 2000%. It has attracted $2.5 billion in investment.
Blockchain gaming is a pioneer in using Blockchain, which has followed mass adoption. Many businesses are trying to make online gaming more creative, but it is still emerging and is encountering some blockage or challenges.
What’s blockchain and how it is used in gaming?
Blockchain is a public ledger, where data can be added but no one can delete the data. Data stays there and you gain ownership freedom. Your data is stored in the public ledger and is not shared without your approval. A new entry is linked cryptographically to the last entry and a block is created. In this way, a chain of events is formed. So, technically it is called a blockchain.
In the gaming space, blockchain enables interoperability, which allows the player to translate their fantasy into a dream character. The players own their character as it is stored on the blockchain. The players win in-game assets and royalties, which are rolled into the next game. In-game assets allow for unlocking advanced levels. These assets are trackable with the player’s approval as they own them. If you are interested then visit https://joystickgaming.io/ to learn winning strategies like which is the best P2E game and how to gain an edge.
Blockchain gaming has offered P2E [play to earn] players micropayment opportunities. Some players are interested in winning rare things like collectibles or trophies.
Brightside of blockchain
- Secure & transparent – With domain names, digital wallets, and NFT characters, blockchain gaming technology allows a safe environment for players to share and trade their in-game assets.
- Improved security – Encryption system and two-factor authentication are used to strengthen the security of sharing game data, interests, and personal details and it even prevents hacking or data tampering.
- Better user experience – Players are empowered to control their overall gaming experience. Players can get creative and build an army as well as choose who they desire to play on their side.
- Verification – Players need characters, guns, props, cars, plans, and art. Players can purchase these assets with fiat currency or earn as they win more levels. Blockchain validates verification via tokenizing the assets. As the ledger is public trust increases and there is a fair price market built.
- Integrate gaming profiles – In interactive gaming communities, the player can contribute their viewpoints. For participating in the centralizer community, you can integrate your gaming profile. Game development companies can possibly hire you for games review.
Challenges of blockchain gaming
P2E games have attracted certain players to earn passive income. Unfortunately, for some the entrance fees are expensive for every game, so they are unable to play. The involvement of the crypto economy means players will fight against bots.
According to an anti-bot protection app, it was revealed that in web3 games 40% of the gaming player base is bots. Passionate players need the freedom to play – it doesn’t matter if they win or lose!