Why are Blockchain Games the Future of the Video Games Industry?

Introduction Today, everyone can monetize their hobby with the right approach. Video games are no exception because new technologies make this process possible to the maximum. In addition to earning money, the issue of data protection and unquestionable ownership is equally important. One such technology is blockchain.  And yet, why is blockchain the future, and […]

Date published:

8 November 2022

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Date modified:

8 November 2022

Introduction

Today, everyone can monetize their hobby with the right approach. Video games are no exception because new technologies make this process possible to the maximum. In addition to earning money, the issue of data protection and unquestionable ownership is equally important.

One such technology is blockchain. 

And yet, why is blockchain the future, and how to make money on it?..

What is blockchain gaming?

Blockchain gaming is a new approach to creating video games that aim to completely decentralize the game world and thereby provide the player with ownership of game items. 

In conventional video games, the ownership of game tools is limited by the closedness of the game space. In the blockchain, there is the concept of a meta-world in which players can freely move game items between various mini-games. 

Thus, each blockchain game is a decentralized product in which the rights of players are not limited in any way, and everyone can get digital ownership of the asset.  

Important Terms To Know in Blockchain Gaming

In order to start playing blockchain games, you should learn about the basic terms that describe the technology:

  1. Play-to-Earn

One of the main advantages of blockchain gaming is the ability to earn during gameplay. Usually, players receive rewards for basic actions performed during the game. 

This format not only brings profit but also provides control over your own digital assets. 

  1. Free-to-Play

Usually, in order to start playing blockchain games, you should have initial NFT avatars or specific tokens. However, due to its decentralization, this rule does not apply to all games.

There are blockchain games that you can start playing with only a crypto wallet. But at the same time, you can earn real digital assets in the process of playing. 

  1. Pay-to-Earn

Unlike the previously described term, this type of game is based on the mandatory possession of a digital asset before starting the game.

For example, having a certain NFT avatar at the beginning, you can upgrade it throughout the game, during which its value will increase. Thus, you can earn money in the game. 

  1. GameFi

In general, this term indicates the earning potential in blockchain games. In addition, it describes a financial policy in blockchain in which users do not have to pay large fees during transactions for buying/selling game items.

The Role Of NFTs in the Blockchain Gaming Industry 

According to Dapp Radar, the amount of NFTs sold in the past quarter of the current year 2022 is $24.3 billion. Such figures look promising and lead more and more gaming companies to blockchain technology. 

NFTs play an important role in shaping the popularity of video games on the blockchain. After all, in addition to their uniqueness, they are completely free to move within a certain meta-world and can be sold on foreign markets. 

Each NFT has a smart contract, the data of which cannot be fabricated or changed, so the value of the token cannot be lost by substituting it. 

How is the gaming industry transforming using Blockchain technology?

Blockchain has been able to interest many people who see a prospect in it. Technology has given a second life to many areas and the gaming world is no exception. Here is what blockchain has given to gaming:

  1. Secure and transparent transactions.

The security and transparency of blockchain transactions play an important role in building players’ trust. After all, it ensures confidential data security and protection against the counterfeiting of NFT digital assets.

Unlike conventional video games, when players need to develop a mutually trusting relationship to purchase a game tool, which can take a long time. In blockchain gaming, this problem simply does not exist because these transactions cannot be fabricated. 

  1. Improved user experience.

The transparency of the blockchain allows users to quickly interact with each other and improve their own user experience. Thanks to blockchain features, such as creating your own characters, scenarios, and even games, users can control the UX on their own. 

Also, most games on the blockchain allow users to play in the browser version, having only access to the Internet. 

  1. Trading resources.

Thanks to the detailed description of each object in the blockchain, players can buy or sell game resources without any fear. The blockchain stores information about each transaction, so players can quickly check past sales or purchases of their NFT to make sure it has not been stolen or copied. 

  1. Earning rewards.

One of the main advantages of blockchain games is the ability to earn digital assets. Usually, they are issued to players in the form of native tokens, for which you can later buy game items or make a profit. You can receive such rewards for the time spent in the game, for completing quests, and for other basic actions in the game.

In conventional video games, players also receive bonuses for certain victories, but these bonuses are worthless outside of the specific game, unlike blockchain gaming.

  1. Creating integrated gaming profiles.

To simplify the user experience, blockchain technology allows players to have one gaming profile that they can use on different platforms. This approach is the best solution for player adaptation and fast in-game transactions. 

Examples of implementing blockchain in gaming

Given all the advantages of blockchain, developers are trying their best to implement them in the game world. Below are the blockchain games that are considered the most successful and have a significant community. 

Axie Infinity

Axie Infinity is a breeding, card, and PVP game that has long been a leader among the best blockchain games.

In the game, you need to raise, collect and fight with fantastic and cute creatures called Axie. Each creature has personal qualities and skills that are formed based on genetic memory. Therefore, the possibilities for combining rare and unique qualities are simply endless! 

In order to start playing, you need to own the game NFT. The game has an internal token $SLP. You can earn by performing basic actions: grow rare tokens, attack dungeons and build your own land kingdom!

The Sandbox

The Sandbox is a F2P (free-to-play) game that combines the genres of mini-games, open-world, and virtual world. 

The Sandbox is a full-fledged metaworld in which players can own LAND.

LAND is a digital plot of land that you can buy or rent. Each plot of land is an NFT created on the Ethereum blockchain.  

In the Sandbox metaverse, anyone can create a mini-game. 

$SAND is an internal token that you can earn by leveling up your characters, winning mini-games or completing quests. 

Alien Worlds

Alien Worlds is a play-to-earn game on the WAX blockchain, in the genre of card and DeFi. The essence of the game is to mine NFT using Trillium currency (TLM). 

In order to start playing, you do not need to invest in crypto or NFT. Free tools are provided for mining in the game. If you wish, you can purchase premium gaming tools. 

You can earn in-game tokens by exploring planets and mining them for NFT. 

Age of Rust

Age of Rust is a fierce first-person adventure shooter in which you have to solve interesting puzzles to explore new territories!

You do not need to invest in digital assets to start playing. However, the game is only available on Windows. You will find yourself in a post-apocalyptic world where you have to solve mysteries to earn money. The scenario of the game is a dark sci-fi future, in the conditions of a captured galaxy. 

The game has internal tokens $RUSTBITS, which you earn for exploring new worlds, and solving puzzles and mysteries. 

Decentraland

Decentraland is another blockchain game, in the format of virtual reality and mini-games. The concept of the game is similar to Sandbox, and it also enables digital ownership of game areas. 

The game is F2P, which means that it does not require any investment to start. In Decentraland you will explore the metaverse, buy or sell digital real estate and play a variety of mini-games.

The in-game token is $MANA, which you will receive for your actions in the game. Usually, it is winning mini-games, selling real estate, or exploring the game world.

Summary: How will Blockchain Games become the future of traditional video games?

Given all the above features of the technology, it is not difficult to conclude that blockchain is the future. Due to the decentralization and security of the system, the popularity of the blockchain will only grow. After all, when the user has a choice: to spend time in a regular video game, to have a lot of game tools, but to be limited by the game space and not be able to monetize the gameplay or to earn digital assets for performing game actions, to pump your character in order to sell his NFT avatar on the foreign market, the choice becomes obvious! 

The growth of the blockchain community will contribute to the fact that investments in the development of blockchain gaming will also grow. This means that over time, gaming corporations will begin to pay attention to changing development concepts in the direction of blockchain. 

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