What is Blockchain Gaming
The collision of blockchain and gaming developed opportunities for this industry. Apart from traditional, highly centralized games, where the game developers controlled all assets and currency, blockchain games are decentralized. Blockchain games provide game assets to gaming players. A blockchain game or crypto gaming is a video game that added elements that use token-based blockchain technologies. Blockchain technology, like cryptocurrencies and NFTs, is a potential boost for the video gaming industry. Blockchain games are also known to be play-to-earn games where players can earn money full-time for their expenses.
Role of Cryptocurrency in Gaming
Cryptocurrency, like Bitcoins and Ethereum, is secure and used for fast payments for various gaming purchases, like themes, unique artifacts, products, etc. It also allows players to earn rewards or Crypto tokens while playing games.
NFTs
NFTs( non-fungible tokens) are traded or used with blockchain games to buy characters, images, data, videos, and other digital assets. NFT and crypto generation has the potential to enhance gaming economies. Features of blockchains are used in games to include non-fungible tokens (NFTs) that players can buy, sell, and trade, earning the game deducts from every transaction as revenue. In blockchain gaming, NFTs are used for purchasing assets for games. So, a gamer can earn an NFT as a reward, players can get full ownership of these assets, which can be traded and sold in and outside the games.
IS BLOCKCHAIN USEFUL TO THE GAMING INDUSTRY?
As blockchain continues to transform the gaming industry, various large game studios and developers are partnering with blockchain platforms.
The world’s biggest gaming industries are investing in blockchain gaming platforms. Blockchain has several advantages in the gaming industry like
*Blockchain will protect information or data, such as recording winners and losers or the names of players or individuals who bet on games.
*It is also used to build decentralized gaming systems where no group of networks can manage the gaming system.
*There's no dependency of the gaming industry on centralized third-party servers.
* We can organize a tournament where there's more transparency in winning and score calculation.
* There are more secure and transparent transactions.
Key Challenges to Blockchain Gaming
Although blockchain games are spreading worldwide, their growth facing several challenges like:-
* The lack of awareness about blockchain, NFT, or crypto technology.
*People consider them as buzzwords and have not given proper attention to blockchain-based games and their advanced benefits.
*There's some complexity like depending on the type of Blockchain game, a player needs to set up a crypto wallet and buy a certain amount of crypto making it a challenging task.
*Use of cryptocurrencies like MANA, Theta, and more challenge as they are trying to understand how they function and whether they should be used in blockchain gaming
*This gaming industry is very competitive, with new games and platforms constantly released. This can enhance more difficulty in blockchain-based gaming to fight against traditional gaming
BLOCKCHAIN GAMES:-
*CryptoKitties:-
Launched in November 2017, world’s earliest attempts to launch a blockchain-based game.
It is most popular game which is developed on Ethereum.
*Decentraland:-
It is virtual reality platform that uses blockchain technology to create a decentralized virtual world.
*FIFAcoins4sale:-
It is online marketplace that allows users to buy and sell in-game items for FIFA.
TOP CRYPTO GAMES (ANDROID)
*MIR4
*Yulgang Global
*Ragnarok Labyrinth NFT
*Chromatic Souls: AFK Raid
*Golden Bros
Blockchain games are frequently referred to as crypto games or play-to-earn games to their link with cryptocurrency.
November 21, 2024 at 11:35 am
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