The gaming industry has always been at the forefront of advancement and innovation, with developers and gaming studios continuously thriving to be the next player in the market. Although the space is highly competitive, so are the millions of professional and casual gamers who play online games daily.
Running parallel with innovation, the recent development in the industry is regarding blockchain gaming. Blockchain is based on distributed ledger technology (DLT), where the data is stored in a digital ledger that is transparent and decentralized, compared to traditional ledgers, which are controlled by third parties.
Blockchain gaming involves the use of technology and its features in developing games, which is bound to push users to have never feelings. Previously, the game servers were controlled by their developers, who stored all the in-game transactions, player data, and progress under their control.
Although they claimed to be genuine, it still demanded that the players trust the game. Also, in the case of any cyberattack or other unfortunate event, the database can be tampered with, distributing the player’s progress and often resulting in frustration. Through blockchain, all the data will be stored on a transparent ledger, where all the interactions, transactions, and players’ identities are visible to everyone.
Blockchain has also given rise to non-fungible tokens (NFTs), which are unique digital assets owned by individuals who have definite proof of their ownership. In the 2021 season, NFTs enjoyed massive success, and following their pursuit, several platforms and artists started minting NFTs, which led to the creation of a multi-million dollar NFT market.
The traditional games too offered the feature of purchasing digital assets like wearables and weapons through money, but their use case was limited to the game itself and once the game stops, their money and effort all go to waste. However, if you purchase any digital asset in blockchain games as an NFT, they can be traded over off-game NFT marketplaces as well, opening several monetary opportunities for players. The concept of play-to-earn has largely been promoted since gamers spotted such opportunities and became professional players. Moving up the ladder, all NFTs are unique and thus more valuable than other Web2 assets that were simply copies of each other.
Metaverse is the concept of imitating our real world into a virtual shared space where players will live, socialize, and engage in commerce and entertainment through their virtual selves, called avatars. It has, over the past few years, seen immense attention and development, with several tech giants investing in the technology, either through R&D or wearable AR and VR gadgets.
Blockchain gaming is stepping its foot into the metaverse as well, with people enjoying games in an infinite world, imitating real-life situations, and following realistic physics through their Avatars. These Avatars will be their unique identity, which they can make unique using several NFTs.
The primary feature will be community engagement, with people participating in the decisions that will affect them. Through this, the Decentralized Autonomous Organizations (DAO) community can vote on future proposals and projects regarding games. Empowering people gives them the personal touch and they tend to be more loyal to the game and vote on honest decisions only.
Although the metaverse is projected to have several use cases, it always finds blockchain games as its flag bearer. The metaverse is not a reality at present and may be years away from actually penetrating our lives; however, the pace of development is sure to turn the stones for technology. The introduction of games is sure to attract a large audience and contribute to realizing the dream of the metaverse.
Artificial Intelligence (AI) is transforming industries, driving innovations in healthcare, finance, autonomous vehicles, robotics, entertainment……
The best crypto presales market has a new rising star – Artemis Coin (ARTMS). This project stands…
In an inspiring display of compassion and innovation, the cryptocurrency community has come together to…
As global awareness of carbon emissions grows, the push for sustainable solutions has become more…
We are excited to announce that Rexas Finance successfully joined WOW Summit 2024 as a Gold Partner,…
Of late, staking has emerged as one of the major weapons for crypto investors who…