The gaming industry is well known for its digital evolution. With the development of virtual reality gaming, the industry is now engaging in accuracy and preparedness in the multiverse.
There are mobile app games that have popularly broken all kinds of records. For instance, PUBG (Player’s Unknown Battlegrounds),
a popular MMO (massively multiplayer online game) where the players get to customize their avatars, and Mario, where
the players have emotional stakes very close to real-life dynamics.
These games are streamed digitally using virtual asset resources to
achieve specific goals.
With the estimation of the global gaming market reaching $268.8 billion by 2025, the industry is clearly on the verge of becoming a world sport.
However, with the emerging audience and popularity, new problems have arisen.
The major hurdle is the lack of trust and transparency between the game players and developers.
These games have a specific economy inside them, which is completely controlled and rotated by the developers.
The players demand transparency when it comes to ownership of assets and digital transactions.
Now, under these circumstances, there is only one technology we can
think of that offers encryption, protection, transparency,
and authenticity in all kinds of digital transactions. We call it Blockchain.
Blockchain in Gaming Industry- A Boon
Mobile applications have e
xclusively adapted to Blockchain to shape the future of various industries. As per recent studies,
investment in Blockchain-based gaming apps is projected to reach a total of $10 billion by the end of 2022. Blockchain specializes in preserving a complete record of every data transpired on the network when it comes to transparency.
The entire blockchain system is decentralized, which means that the games will not be owned or monitored by any authority or developers. The players get complete ownership of the assets and the digital objects purchased.
Another fun fact with Blockchain-based gaming is holding NFTs (Non-Fungible Tokens), which are similar to owning any other cryptocurrency like Bitcoin, Ethereum, or Litecoin. These are transferable not only to the wallet but also outside the games.
Even if your game stops working, your digital assets will not.
You can transfer your assets from one Blockchain to another in the metaverse and possibly utilize them in new games.
Now, what other ways can we apply Blockchain to the gaming industry? Let’s find out.
Applications of Blockchain in the Gaming industry
Experts state that because the gaming audience is used
to the concept of tokenization and liquidity, implementing Blockchain in gaming has become a piece of cake.
Gaming enterprises and business owners are investing heavily in blockchain development services to keep up with the positive interaction of long-standing gaming audiences.
Blockchain-based mobile app games allow users to buy in-game items with both virtual and real money. Blockchain, on the same side, keeps track of all
What more can Blockchain do to the mobile gaming industry?
1. Increased security of the gaming market
Online hackers have no possibility of breaking into data across the server because of the Blockchain’s decentralized system and high data encryption protocols. As a result, there is a secure
ecosystem for both the gaming community and the enterprises, which leads to engagement and productivity.
2. Increased value projection of intangible assets
With the launch of several cryptocurrency-based games, digital players prioritize intangible digital collectibles.
Many online surveys suggest that players are willing to
place real value on intangible digital collectibles if the blockchain mobile app game is interesting enough.
3. Increased ownership of in-game assets
By bringing standardization and legislation to the gaming industry, Blockchain is also helping gaming developers and enterprises with in-game asset ownership.
As a matter of fact, digital ownership is one of the main elements of Blockchain-supported mobile app games where the players can
exchange scarce goods and profit.
4. Improved payment method
We all are familiar with the privacy and security of cryptocurrencies. While in the gaming business, it’s common for hackers to breach networks, take players’ credit card information, and sell it on the black market. This isn’t quite the case with blockchain gaming applications.
In Blockchain-based gaming apps, the payments are made using local or similar crypto tokens, resulting in a better transaction experience.
A real-world example is two popular names in the gaming industry, Twitch and Steam, that have experimented with cryptocurrency payment and are now providing a safe transaction path to their audience.
5. Integrated gaming profiles
Most gaming platforms and applications ask players to create a gaming account to access the platform games and other features.
Blockchain gaming app users can easily create a single integrated gaming profile that can be accessed and run across various gaming portals.
As a result, Blockchain gaming apps have improved the user experience for the players by interlinking the programs and making them more accessible.
We are currently witnessing a revolution in gaming and Blockchain.
When combined positively, they create an ecosystem that works seamlessly for the
gaming businesses and the players.
Moreover, with advancements in VR and the metaverse,
the experience is going to be even better for the audience.
Therefore, before it’s too late, gaming businesses can
positively invest in blockchain to tap into the world of decentralized games.