Though blockchain technology has not been accepted as mainstream, it has reached every corner of the world today. The word bitcoin is constantly getting mentioned in the news as it shows its influence on the global economy. Meanwhile, every time a technology emerges, the first industry to try it and take it to the masses is the Gaming Industry. Be it digital video gaming or even Virtual reality. Today Blockchain based NFT games is now the trend among the gaming community. Isn’t blockchain related to cryptocurrency and decentralization? How can they be incorporated into a video game? What are these blockchain based games, and how are they transforming the gaming industry?
It is indeed important to know everything about these new games as they are now becoming the basis for the future generation of technology- the metaverse. Here is a blog to deal A to Z about games that use blockchain technology and how Metaverse games are slowly mushrooming!
Blockchain in games!
Blockchain is a network that is completely decentralized. Any information stored in the blockchain or any transaction on the blockchain is unhackable, unchangeable, and transparent as well. That is, anyone can access the blockchain and see the information on the blockchain. How is blockchain incorporated into games?
When Non Fungible Tokens came out, the gaming industry embraced them, replacing in-game items for them. These Non-fungible tokens on the blockchain are unique and one of a kind tokens made for any asset on the blockchain, giving them tradeable ownership.
Gaming Platforms took up these NFTs for in-game items and formed a new range of gaming in the name NFT games. Gamers were fascinated by the fact that they could sell their in-game items, which had never happened before. This made not only gamers but also NFT and crypto traders look into these platforms.
During the NFT boom in 2021, a lot of games mushroomed with NFTs for their in-game assets. You might have heard the number of games, particularly the Cryptokitties, which was the first popular NFT game that went viral online. It was then followed by other games Axie Infinity, Decentraland, Gods Unchained, and the Last will and what not.
Though all these games improvised the basic crypto kitties, they all opened the gates for a new range of games for the developers and a way to earn for the gamers as well.
The new range of games
The concept of web3 is something that you should know before getting further into these blockchain based NFT games. Web 3 is the next iteration of the internet. The current internet we use is web2 which is centralized, and web3 is trying to bring decentralization globally through blockchain technology.
With this, blockchain technology is trying to bring decentralization to every industry in the world. The concept of web3 not only brings forth decentralization but also compensates the users for the time they spend on the blockchain in the form of cryptocurrency.
That is when Play to earn NFT games on blockchain began to bloom in the gaming industry. These are games where the in-game items are NFTs, and the gamers get rewards and benefits in the form of in-game cryptocurrencies or NFTs.
Gone or the days when only top ranking gamers get to earn through games. With these play to earn games, every gamer who plays the game will have an opportunity to earn real-time money. This concept has made a large number of gamers play these games for a passive income.
The game became a huge trend, and gamers started to play them full-time. Gamers even abandoned their full-time job to get into these games as they are providing a huge fortune for them. Are these games so big that they are getting this much attention from people all over the world? Well, they do get negative comments for various reasons. While keeping them aside, it is important to look into the reasons why people are getting into these games!
Why blockchain games?
There are many reasons why people are interested in games which, include NFTs and blockchain. Some of them are listed here
- Though the thrill of the game and the gameplay is the most important factor in a game, people do get attracted to the earning opportunities through the game.
- Owning a digital asset on the blockchain while having them play a game is a utility that is attracting a lot of NFT lovers to these platforms
- The concept of selling the in-game assets to other players in the form of NFT is also an important factor that is attracting a lot of gamers here. In general, the Player to player trading concept or transactions on the blockchain ensuring anonymity is the key.
- Secured transactions on the blockchain and less probability of failed transactions and asset loss are one more reason for people to consider this new range of gaming.
- The global market’s interest in getting into play to earn games is also an important factor that is making gamers try something new. There are billions of mobile gamers and PC gamers who play games that are tending in the gaming community.
- The new creator’s economy is creating more opportunities for gamers to get into gaming more progressively. Streaming gameplays online, blogging, and many other ways are also becoming a part of income for gamers!
The future with blockchain!
As mentioned earlier, Metaverse is something that is gaining momentum as the future generation of gaming platforms. Metaverse games use NFTs as their basic element and use up the blockchain to bring decentralization and transparency.
With the metaverse, it is possible to bring out a digital world to experience everything digital in real. With big shots like Facebook, a.k.a Meta, Microsoft, Nvidia, Roblox, and many others going into metaverse and blockchain, the technology will be the future.
Games based on blockchain are slowly making to the masses. Though there are flaws, technological breakthroughs, and everything happening around this industry, this sector has received an enormous investment in the first two quarters of this year. This is opening the doors for many small scale as well as huge gaming projects to come out targeting gamers, crypto traders, and NFT enthusiasts as well.