The gaming industry has a long history of introducing innovative elements. Continuous innovation has led to the creation of extremely powerful graphics cards, the emergence of virtual reality, and the development of engaging gameplay. Now, game developers are beginning to recognize blockchain technology’s benefits in the gaming industry.
Blockchain combines finance, non-fungible tokens, and gaming to enable users to earn passive income via its play-to-earn (P2E) framework and to interact with other users, such as investors and creators, via GameFi and NFTs.
With the introduction of blockchain technology, the gaming industry has shifted from a pay-to-play and free-to-play model to a play-to-earn model, and now to a play-and-earn model. Just like web3 games, there are different types of game development companies that help you to build the best games in web3, just choose the right crypto game development company which helps you to execute your actions into reality.
Application of blockchain technology to gaming:
The advent of blockchain gaming has created a brand-new, largely unexplored gaming economy with real-world implications.
– Interoperability between different games
In a variety of games, players create their profiles, construct their characters, and purchase in-game assets. They desire interoperable profiles and characters across games, which blockchain gaming can facilitate.
– Returning control over in-game assets to the players
In conventional games, the publisher or developer owns both the money and the game assets. Players invest real money in digital assets; if the game is shut down, they lose access to those assets permanently.
By emphasizing player value creation, blockchain games alter the rules of traditional gaming by leveraging blockchain technology. Due to the immutability and dependability of blockchains, players can legitimately claim ownership of all blockchain-based digital in-game items. Gamers of blockchain-based games are not reliant on publishers’ or creators’ permissions or rules, and they are free to sell any non-fungible tokens they own on secondary NFT marketplaces both within and outside the blockchain game.
– The utilization of cryptocurrencies can facilitate in-game transactions.
By permitting the use of cryptocurrencies for payments and the acquisition of assets, game developers can streamline the process of purchasing in-game items. Instead of waiting for third-party payment services to process their fiat currency transactions, players will be able to purchase game collectibles directly from a cryptocurrency trading platform if they are available.
– Secure Transactions
Blockchain is a secure, immutable, and transparent technology that prevents double spending and fraud in transactional data. It increases users’ confidence in digital transactions. This makes it ideal for blockchain-based games in which players possess in-game tokens or digital assets, such as a rare NFT-based weapon.
– Earning Rewards
By completing tasks and missions, players may receive cryptocurrency rewards. In conventional games, players earn and receive rewards with no actual value. However, players of a blockchain-based game can exchange in-game cryptocurrency for real-world goods sold by other players or acquired from online retailers.
– Creating Characters and In-Game Assets with NFTs
NFTs make digital goods exclusive and scarce online. Proof-of-ownership supports many areas of commerce and is now transforming in-game items and incentives into assets. Non-fungible tokens based on cosmetics and weapons will power in-game economies. Most of these assets can be traded outside the game.
Top Blockchain networks for Web3 Gaming:-
Ethereum is a blockchain network operated by the Ethereum community that enables the Ethereum cryptocurrency and thousands of decentralized applications (DApps). Additionally, it is the first blockchain network that permits the creation of non-fungible tokens.
Ethereum has been the best choice for a long time for building any kind of DApp, including blockchain games, because it is flexible, secure, and can work with other apps. It also has a large and active developer and builder community.
There are more than one thousand daily users of blockchain games based on Ethereum, and daily transactions in these games total close to one million dollars. Additionally, Ethereum is the second-largest and most-used blockchain platform in the cryptocurrency industry, after Bitcoin.
Worldwide Asset eXchange, or WAX, is a free-to-use asset exchange. The Proof-of-Stake network was initially introduced in 2019 with the purpose of handling payments for online purchases. But a thriving web3 gaming ecosystem has emerged on the Wax blockchain. Players can find engaging blockchain-based games on the Wax network. Several Wax games have seen significant user growth despite the bear market in cryptocurrencies. An interactive, dynamic gaming experience powered by the decentralised Wax model is possible.
Polygon has become the go-to platform for building out Ethereum’s infrastructure and making it more scalable. Developers and users have always liked Polygon because of how well their Layer-2 blockchain-based DeFi dapps worked with Ethereum. The blockchain protocol started out as a network focused on applications for decentralized finance (DeFi), such as decentralized exchanges (DEXs).
But when Polygon Studios and their own gaming ecosystem came out in July 2021, the Polygon network shifted its focus to blockchain gaming. CEO of Polygon Studios Ryan Wyatt thinks that the Polygon network is the future of blockchain gaming.
Promote Your Cryptocurrency Games:
A blockchain game’s quality is irrelevant if no one plays it, so it must be developed and promoted.
For many publishers of blockchain-based games, attracting new players is most difficult when communicating the game’s core concept in an engaging and informative manner.
Marketing your blockchain game, on the other hand, does not need to be difficult; with our guide 6 Ways to Market your Blockchain Game to Mainstream Gamers, you can get your game closer to gaining the momentum it deserves.