How the Blockchain Will Revolutionize the Gaming Industry

Constantin Macri 23/03/2023 | 13:25

The blockchain is one of the most exciting and fastest-growing pieces of tech around right now. Not only has it been shown to be far more powerful than we could have ever imagined, but it is also much more versatile.

 

The gaming industry, in particular, has seen and can potentially see massive changes thanks to blockchain. Here are some of the ways it will change the gaming industry in the coming years.

Improved security

Whether you own an online casino or you are building a fun RPG, blockchain technology allows for vastly superior security. The blockchain itself is inherently incredibly secure due to the way information is saved and shared.

There is also a huge benefit for developers. Nowadays, hacks and data theft of gaming code not only ruin surprise titles but also cost developers millions in potential revenue.

Buy & selling of assets

If you have played any video game before, you are well aware of the fact that by completing a game or playing for a certain amount of time, you can unlock items in-game that are incredibly rare and hard to get. However, these items are completely worthless outside of the game.

Developers want to change this by making in-game unlockables and assets into NFTs that players can buy and sell. Not only does this create a game economy that exists outside of the game, but it also rewards players for playing the game by allowing them to make money from what they unlock.

Many gamers have expressed their frustration at things such as loot boxes, which require real-world money to buy but only give you in-game assets that can’t be used anywhere else. Turning these assets into NFTs adds rarity as well as potential value.

New game modes

One interesting change that the blockchain has brought to gaming is the invention of new game modes and ways to play video games.

Traditional or blockchain gaming

One of the most revolutionary forms of blockchain gaming is traditional or blockchain, otherwise known as ToB. This form of blockchain gaming allows players to ease into the genre of blockchain gaming without having to commit fully.

Free-to-play-to-earn

One of the more common models that you will see is the free-to-play-to-earn model or F2P2E. This type of blockchain game combines two aspects of gaming: the free-to-play model, which allows players to download and play the game for free with in-game purchases, and play-to-earn, which rewards players with crypto simply by playing, leveling up, etc.

This model allows players to play and enjoy a game and be rewarded with crypto, enables developers to earn through in-game purchases, and keeps players coming back to their game over and over.

More community involvement

One of the best parts of blockchain and decentralized games is the concept of the players having far more control over how the game plays and what additions and changes are made. Decentralized games involve a voting process that allows players to decide what is and isn’t added to the game.

This level of democracy is almost unheard of within the gaming sphere and will allow gamers and developers to come together and create tailored games that have everything the players want and nothing that they will never play or enjoy.

Many of the games, if not all of them, are open-source too. This means that players can have access to the code of the game and create levels, characters, assets, etc., that can be added to the game.

Challenges

While blockchain gaming is incredibly exciting, it will face a few challenges, with the main ones being demand, maintenance, and resources.

Demand

For something to be popular, it needs to be something that everyone wants; blockchain gaming isn’t there yet. Many gamers don’t want to play fairly simple decentralized games when they can play Call of Duty or League of Legends instead.

Decentralized games are far too reminiscent of mobile or flash games at the moment, and therefore they aren’t drawing in the big crowds and won’t draw them in until they are competing with the big AAA titles.

Maintenance

Maintaining a decentralized game is also proving to be very difficult. Considering many developers of these games are small-scale operations, sometimes even just individuals, being able to keep up with all the maintenance needed is very challenging.

Resources

The last issue that many decentralized game developers are facing is a lack of resources. Decentralized game developers can be viewed as indie developers; they are small teams with very limited funds and little to no power in the gaming space.

Because of this, combined with the issues above, the developers are limited in what they are able to achieve. While this is a temporary problem, if it doesn’t change, there isn’t enough room for growth.

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Constantin Macri | 28/06/2024 | 12:25
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