Blockchain technology has entered various industries. With Blockchain technology, the gaming industry is all set to transform the gaming experience. With the rise of Blockchain, DeFi, NFTs, & Web3.0, I firmly belive blockchain gaming is the future of gaming.
Blockchain uses Technologies like NFTs to make owning in-game assets easy, inexpensive, and trustworthy. The endless possibilities of blockchain technology in the gaming industry attract millions of investors and gamers from across the globe.
According to market experts, in the last decade, from a zero-value size, the blockchain gaming industry has blossomed into a $3 billion market in 2021. The industry is forecasted to touch at least $39.7 billion by 2025.
This is made possible due to the benefits and opportunities that blockchain creates in the gaming industry. Apart from improved security, Blockchain decentralizes the games and makes the assets a useful commodity.
Traditional games are highly centralized. The developers control all the assets and currency. Blockchain games disperse in-game assets to the players, pushing a decentralized gaming approach.
Earlier, the users would spend countless hours playing the game, and there were no monetary return other than streaming your live game. Users even had to pay to buy and play the games. With Blockchain, the users can own the in-game assets and sell them to earn monetary returns.
Games can earn from commission from these transactions and thus, it can make the games free. Asset owners can earn cryptocurrency or real-life money in exchange for their assets. The rarer the asset, the more you can earn.
Blockchain in gaming is still a new concept, and I believe that we have just scratched the surface of the possibilities that blockchain holds in gaming. In the coming years, more and more blockchain concepts in gaming will emerge, and blockchain gaming will reach new heights. I would personally suggest the young and emerging developers to start experimenting with Blockchain as even a small new discovery can shape a new gaming experience.