What about a game in which players can own the in-game assets and trade them with other users for real monetary benefits?
Yes, it is true! Blockchain technology has made this possible. As a result, game developers worldwide are showing keen interest in leveraging blockchain in game development.
However, providing asset ownership to players and allowing them to trade are not the only benefits of Blockchain technology, there is more.
It’s a lucrative market with plenty of opportunities to explore. Experts predict that gaming is the first trend of blockchain, which will transform the gaming industry and make it more engaging than ever before.
In this blog, we will talk about these challenges, how to solve them, and how blockchain will revolutionize the existing gaming industry. So, without further ado, let’s start!
Blockchain in Gaming: Latest Market Statistics
The following are the latest market statistics for the blockchain in the gaming industry:
- The global blockchain in gaming market size is predicted to grow at a compound annual growth rate (CAGR) of 68.3% from 2023 to 2030.
- According to DappRadar, blockchain gaming hit an average of 1.9 million daily unique active wallets (dUAW).
- As per Fortune Business Insights, North America has the largest blockchain gaming market share.
The statistics show that the blockchain in gaming is gaining the attention of game developers and gamers worldwide. Now, read further to learn more about how blockchain technology will transform gaming.
How Blockchain Revolutionizes the Gaming Industry?
Blockchain technology can revolutionize the gaming sector in the following ways:
- Transparent and Secured In-Game Transactions
Thanks to Blockchain technology, users can carry out in-game transactions more securely and transparently. Every detail of transactions is recorded digitally on the blockchain network, making it tamper-proof and reducing the chances of fraud.
- Enhance User’s Gameplay Experience
You can enhance the overall user gaming experience of the users by adding blockchain technology into games.
In blockchain-powered games, users can have ownership of in-game assets in the form of NFTs. Moreover, they can trade them with other users or use them to buy in-game assets securely.
- Interoperability
Blockchain technology offers interoperability between different games and platforms. This means that players can use their assets across multiple games or trade them with others.
This enhances the interest of users in the game and keeps them retained for a long time.
- Incentives for Players
In traditional games, players get points or rewards for completing levels or winning the game.
However, these points have no value in the real world. On the other hand, by integrating blockchain technology into games, players can earn NFTs, having monetary value.
Users can utilize these NFTs to buy in-game assets, trade them with other players, or use them to buy products or services in the real world, depending on the integration and acceptance of NFTs in broader ecosystems.
- Security
Blockchain in gaming ensures that all the transactions are secured and transparent. It offers additional security layers, such as encrypted messaging and two-factor authentication, to protect user’s sensitive information.
Additionally, blockchain also eliminates the chances of dual payments for the same services as all the transactions are recorded digitally on the network.
Important Terms To Know in Blockchain Gaming!
Key terms that you need to know before investing in blockchain-based game development are:
1. Play-to-Earn
In the majority of blockchain games, the concept of play-to-earn is employed, allowing players to earn money for playing games and also participating in game-based economies that allow gamers to buy and sell game-related items.
Contrary to traditional game ideas like free-to-play games with the purchase of games or pay-to-play games, Blockchain-based games offer players total the ability to control their online assets.
In the course of the system’s positive circle, players are awarded rewards like weapons, skins, and gaming-related items.
2. Pay-To-Earn
Players have to make an initial at-the-spot purchase of an asset, usually an NFT which is a pay-to-earn strategy that is similar to play-to earn.
Similar to the play-to-learn method The item will gain value over the duration and the possibility of profit as a motivator for staying.
3. GameFi
Pay-to-earn and play-to-earn models are generally known as GameFi and GameFi is a term that highlights the potential for earning from gaming.
A successful blockchain-based game needs a solid foundation for blockchain technology, that has high rates of transaction and low fees. Consumers won’t (and shouldn’t) be paying huge sums in transactions when buying or selling items since they’re not usable without them.
4. Asset Ownership In-Game
Gamers are cautious about paying for game assets that aren’t transportable and are controlled by the game’s developer. When an online gaming website is shut down, gamers lose everything they’ve invested in it.
Tokenizing game assets is basically the creation of NFTs, which allows developers to fully own assets.
Moving ahead, let’s discuss this,
How is Blockchain Changing the Gaming Industry?
Blockchain technology can be utilized in game development services due to its inherent flexibility. We will explore some of these possibilities below.
- It Makes Gaming More Secure – Cybercriminals aren’t able to take down an uncentralized network because of the absence of servers and effective data encryption techniques.
- It allows the real ownership of the in-game assets – Blockchain services lets the game’s assets be held outside of games, too, in a secure and transparent method. Digital ownership in the original form is one of the basic principles of gaming that is supported by blockchain as it allows gamers to exchange valuable goods and gain from their successes.
- It allows players to control their favorite games – The majority of games that revolve around blockchains are community-controlled and decentralized, which means that the users are the ones who determine future upgrades, features, and the general direction for the program.
- It allows players to earn points when they play – Blockchain-based games are the first in the field that allows players to make money from their game progress and other items without the need for any third party.
- It provides secure payment – The majority of blockchain-based games utilize their native crypto tokens for payment that are not only practical and profitable from an investment perspective but are also always secure since all transactions are logged and verified with blockchain technology.
As you’ve seen the benefits of blockchain technology in the gaming industry; now, let’s move forward and discuss,
The Role Of NFTs in The Gaming Industry
Non-Fungible Tokens (NFTs) are an idea that is relatively new within the gaming industry. However, their influence and potential are unquestionable.
The NFTs represent digital currencies that are unique and distinct from other NFTs. What distinguishes them from other tokens that are fungible is the fact they are distinct in a specific way. Understanding the differences helps them keep their value throughout the course of.
The primary benefit that non-fungible tokens have is their capacity to be traced and verified by blockchain technology.
NFTs can be used as metadata to Ethereum’s Ethereum blockchain, and each token could be traceable via one of the ERC721 smart contracts.
This means that objects like collectibles and tickets for events are able to be traded without restriction on their marketplaces, with no interference from centralized third-party sellers.
Potential Benefits Of Blockchain In Gaming
1. Add Value
Regardless of what gamers think, NFTs are no microtransactions. The players who control the skin or the NFT are the sole owners of certain features in games.
Since NFTs are backed by proof of ownership, an individual can trade the skin. Gamers can earn money through gaming for quite a while however, NFTs provide greater assurance, while also being more flexible. This could create an online market for second-hand games and digital items.
NFTs are also a part of improving gamers’ value by boosting their gaming collection. Gamers generally are keen on owning old items that are of long-term value and NFTs provide a great alternative.
2. The Ownership
In contrast to microtransactions, NFTs have a value that grants players ownership. With blockchain in gaming, the players are able to sell NFTs whenever they want, and even profit from the resale products. The insufficiency of NFT purchases is evident from the immutable record records that are part of the blockchain network that is used to create it.
This proves the uniqueness of every NFT which is appreciated by gamers who tend towards authenticity and rarity.
3. Interoperable Nature
Interoperable Nature NFT is a blockchain-based asset and can be transferred between games that share that same blockchain. Because the skins purchased by the user now belong to the player and not a gaming establishment, they are able to transfer assets across games from the next. This can be an advantage, particularly if a firm decides to end the game completely such as, for instance, the game could be an item that is collectible.
4. Physical Benefit Physical Advantage
NFTs can also be an interface between the physical and virtual worlds. When there are actual events to advertise, NFTs having a valuable NFT card or jersey could lead to having the owner of the actual physical representation of the item.
With the gaming community divided on what the next steps for NFTs and NFTs are, we must be patient and see if major gaming companies will bite the NFT bullet.
The gaming industry is split over how to proceed with NFTs and NFTs, we must be patient and see if major gaming companies take the NFT bullet.
But, NFT game development services are crucial for our future gaming. This is due to the fact that they permit the virtual ownership of game assets including collectible cards, and magical items from the world of fantasy to particular characters’ clothing and equipment.
The NFTs will alter the way that gamers interact with one another by giving them the ability to loan or trade their games’ assets safely and quickly on a Blockchain.
Benefits Of Implementing Blockchain In Gaming
Blockchain is a groundbreaking technology that has had a huge impact on the technology sector. It’s difficult to locate an industry that has not been impacted by blockchain technology, and gaming is not an exception.
The possibilities for developing games are endless if developers accept the advantages of incorporating blockchain technology into their games.
It will also enable gamers to earn money from their properties and assets, purchase or sell virtual items for cryptocurrency as well as participate in games, compete with other gamers around the world, and play games that use blockchain products.
Here are a few ways Blockchain Tech could change Gaming:
- Cryptocurrencies Can Make In-Game Purchases Easier
- Blockchain In Gaming Provides A Safe And Secure Environment For Game Developers And Entrepreneurs
- Blockchain In Gaming Helps In Securely Buying And Selling In-Game Assets
- Blockchain In Gaming Enables Interoperability Profiles Of Players
- Blockchain In Gaming Enables The Projection Of Value On Intangible Assets
- Blockchain Will Let Players Securely Store In-Game Assets
- Blockchain Gaming Allows Players To Truly Own Their In-Game Assets
- Blockchain Allows Players Greater Control Over Their Favorite Game
- Blockchain in Gaming Opens New Territory For Developer
- Blockchain Allows Players To Collaborate With Developers To Improve A Gam
- Blockchain Enables The Creation Of Rarer In-Game Assets
- Blockchain Prevents Fraud
As you’ve seen the top benefits of blockchain in gaming! Now, let’s talk about,
Top Blockchain Games You Should Lookout For
1. Gala
It is worth noting that the GALA token has increased more than 300% since being suddenly listed. In just one week, its value increased between $0.02 to $0.12 which is the highest price ever recorded. According to CoinMarketCap the exchange has been trading for $0.080.
Gala Games has recently expedited the development of its games, notably Town Star and Spider Tanks. They have, for instance, introduced TownCoin their own cryptocurrency to their initial project. For Spider Tanks it has now entered closed beta testing, which the players have praised.
Thanks to these functions, Town Star has been very popular among players of blockchain. If you also want to develop the same game, then partnering with the top blockchain development services would be beneficial for you!
2. Smooth Love Potion (SLP)
Axie Infinity is one brand you’ve seen in the world of blockchain gaming or cryptocurrency.
No?
This is among the most played cryptocurrency games played in the Philippines that has young people quitting their jobs in order to earn an impressive $2k per month.
In the game Axie Infinity, players are able to earn $SLP by participating in this game. In addition, AXS is the token of governance and is the most like owning shares within a corporation. AXS holders can vote on and make modifications for Axie Infinity. Axie Infinity platform.
3. Decentraland (MANA)
It’s yet another fascinating blockchain game that we think will soon grow to become among the played games on the platform.
Decentraland is an Ethereum-based software designed to build an international network of users to control the virtual world as a whole.
The users of Decentraland are able to explore, interact with, and even play games within the virtual world while purchasing as well as selling their digital property. The platform now allows interactive apps, real-time payments as well as peer-to-peer communication because of the platform’s development.
4. The Sandbox (SAND)
Sandbox is an Ethereum-based gaming and metaverse platform that lets users develop, distribute and profit from in-world assets as well as gaming experiences.
The users of The Sandbox have complete control over their worldwide creations since it’s designed to shake up the current gaming industry. platforms control and manage user-generated content and gamers’ and artists rights are stifled.
A Sandbox is a place where anyone can play. In the Sandbox, anyone may develop a game, make fashionable characters, and go through quests to earn SAND tokens. Every person in The Sandbox participates in the game’s ecosystem which means that everyone wins. This is a true pay-to-play business model.
5. Plant VS Undead
Plant VS Undead lets players be actual farmers, and also makes Light Energy tokens (LP) the game’s currency that can be exchanged to Plant vs Undead Token (PVU). In order to earn Light Energy tokens (LP), players must engage in farming activities like harvesting seeds, watering plants, and the completing of other daily tasks.
Furthermore, the platform offers its own marketplace where users can sell and buy NFT plants and land. The game is based using Binance Smart Chain that can be linked to the MetaMask wallet.
6. Gods Unchained
Card game players are bound to be enthralled by God’s Unchained. It’s an NFT card game that permits gamers to exchange cards in order to engage in a battle with their opponents. When trading cards, it implies that players must buy the card from other gamers. Cards are purchased and sold by using the immutable X marketplace.
The GODS token is God’s Unchained native currency. It’s an ERC-20 token that can be used to make NFTs and to vote on the game’s governance plan. Thus, players have to make use of Ethereum with wallets that are supported, like Metamask.
7. Illuvium
Illuvium can be described as an automated battle. The players must fight to beat the opponents by completing daily challenges and increasing their levels and receiving LIV tokens as rewards.
Additionally, players can gather Alluvials which are NFT creatures, and allow them to fight in the battles. Illuvial are upgradeable and can also be traded in the marketplace too. Additionally, Illuvium is run on Immutable X which means players do not have to pay for gas.
8. Age of Rust
Are you interested in treasure searching? A new game called Age of Rust lets you take the challenge of searching for 24 hidden Bitcoin by solving puzzles.
Age of Rust is an interactive crypto game based on a story using the ENJIN protocol. It transports you to a post-apocalyptic world, where players are required to solve puzzles to win tokens. The story is set in a futuristic dark future in which Artificial Intelligence has overrun the universe. The Age of Rust is a unique game that is certainly worth the time to play.
9. ZED RUN
Are you a horse racing fan? We have something unique to offer you.
ZED RUN, is a game that uses blockchain technology in which NFTs represent horses. Since every horse has its own strengths, you may end in a stallion with the best qualities or your horse might be more suited to becoming an equinassary.
Four games that will affect the next generation of gaming on blockchain and you ought to be looking out to trade these tokens on our exchange.
10. Alien Worlds
WAX is a blockchain-based Alien Worlds is among the most fascinating play-to-earn crypto-games within the world of the metaverse. It is necessary to mine NFTs using the Trillium (TLM) money to play this game. Alien World coin is based using Ethereum, WAX, and Binance which adds to its value overall.
You don’t have to spend a huge amount of money, at first you can invest 0 dollars using mining tools that are free. If you choose to invest in premium tools, you’ll be able to invest between USD1 and USD3.
To play, select the location to begin mining (irreversible) and then use the equipment available or purchase If you’d like to, and then begin mining the hidden NFTs.
11. Farming Tales
Agriculture in the Metaverse? Farming Tales have created quite an experience for players. The game play-to-earn is built on blockchain technology. Players can take advantage of NFTs by using tools within the crypto farm. It is necessary to have an NFT set or a single one to begin farming and gain real-world experience of farming.
There are a variety of farms located in Farming Tales where you can begin your farming venture. Land can be purchased for as little as USD100 or Water Tower (water supply) for about USD45. Owning your own land means that you don’t have to worry about the farming schedule or entry points.
12. Splinterlands
Splinterlands is a game that is simple to play to earn quick cash. It allows you to trade and swap cards for rewards. Splinter Land has its own token called Dark Energy Crystal, or DEC for short. It is required to fight in combat, complete quests, and purchase assets.
Start by registering an account and purchasing spellbooks. To be a winner, you’ll need to create an account, and collect cryptocurrency-convertible gaming cards (there are over 500) which you can use for online marketplaces like OpenSea, and then choose your army wisely.
Splinterlands is a great game. Splinterlands’ game is a blast because it is compatible with third-party software, so there are no limitations.
13. League of Ancient
One of the things that make League of Ancients a top crypto game is its exclusivity in the market for crypto gaming. It is home to more than 117 million monthly players. League of Ancients is a play-to-earn MOBA game with a lot of features. Players earn rewards and earn money in real time.
The League of Ancients has its currency, LOA BEP-20 and you get it when you win. You can pick your heroes and each one has a specialization. You can trade your heroes with NFTs through open crypto exchanges.
The outcome is contingent on the hero you choose and your strategy. You must beat the other team to earn rewards.
14. Sorare
Metaverse wanted to prevent fans of football from enjoying themselves by introducing the so-called NFT game. It’s a highly football-based game and almost all teams in football (180) are part of it, as registered members. This includes betting, and players are rewarded with ETH-backed credit cards.
There are four cards for free for football players selected randomly during the game. they’ll be playing on the field for you. Each league win will earn you points or NFTs, in any case. The difficulty of the game determines the highest reward. You’ll be able to play with rare, precious iconic cards you play.
If you’re curious, check out the full article on So rare to find out more about it!
15. MicroPets
MicroPets is a game in the metaverse featuring the most adorable NFTs on the market. It’s based on the Binance blockchain and users must invest in mysterious boxes to bet on their currency.
MicroPets is an online gaming experience, NFT marketplace, and metaverse all in one. If you decide for MicroPets runners, then you’ll need to gather pet tokens [PETS] and power-ups, such as speeding or resurrection to fight off monsters.
It is important to select rare pets to get a higher APE, which can be as high as 555%, and the most affordable is 100 percent. MicroPets are exactly what you would expect from a lazy farmer. It will block your NFTs for a period of 30 days, giving you security.
16. Stephen
STEPN is a Web3 lifestyle app with integrated Gamefi and SocialFi components that include move-to-earn mechanisms that encourage walking, running, and jogging.
To begin, players must purchase NFT sneakers from STEPN through GMT tokens, which is the management token for this game. The players can get GST game tokens. This is the game token that can be used in unlimited amounts by working out.
Through games, STEPN aims for millions of users to lead better health and be connected to people on Web3.
17. Star Atlas
Star Atlas is a virtual gaming metaverse based using the Solana blockchain. Players can buy a spacecraft to play the role of an astronaut. You can also purchase other equipment and even land to find other planets or fight other players in an online game.
The game uses two kinds of tokens, including ATLAS the governance token, and POLIS the game token.
Planning To Invest In The Blockchain Gaming Industry?
If you’re planning to build your next game that is going viral, think about the advantages of blockchain technology to distribute games, and partnering with top blockchain app development companies, along with other benefits.
If you’re in need of skilled hire blockchain developers to build your blockchain-based game with success, Quytech, as a prominent blockchain-based game development company can help you. We are a group of skilled blockchain developers who have created a variety of blockchain solutions that are competitive in the market.
Please submit your initial blockchain game design requirements in the short request form, and our tech specialists will contact you to discuss this further.
