Why gaming is integrating Blockchain technology
Watching the gaming industry rapidly evolve due to the use of blockchain technology is massively exciting.
The gaming industry has been undeniably impacted by the rise of cryptocurrencies, however, it’s the blockchain technology that they’re more concerned about.
As a frequent gamer, having the freedom to customize your own in-game items, as well as having access to a more secure and anonymous landscape is important, and that’s exactly what blockchain is able to provide, alongside numerous other things. You can already play games for Bitcoin, but what else are you able to now do in the gaming industry thanks to cryptocurrencies? Let’s find out.
Value Of Gaming Items Are Increased
A large amount of satisfaction that comes from gaming is the possession of multiple in-game items, particularly those that are hard to come by. Frequent gamers will spend hours farming for these items, and if they weren’t already valuable and prestige enough, blockchain is able to now boost the value of these virtual items, in several ways. Firstly, blockchain has provided new ways for gamers to use these virtual items inside and outside of the game, increasing the overall functionality of these items.
Furthermore, there are now platforms set up within the gaming scope that will allow players to cash in those rare items for dollars, giving them a new economic value that which will help to make gaming much more rewarding. Finally, with new networks being implemented to facilities trading and sharing of virtual items, the social value of these items will also increase, making the entire process of earning in-game items highly fulfilling.
It Saves Money On Payment Processing
The gaming industry is indescribably vast, and while you’re able to pay for your bog-standard game with fiat currencies, there are also DLC’s, subscriptions and exclusive items that gamers are willing to pay for. However, there are a number of fees that are often associated with this. With blockchain’s decentralized payment capabilities though, users can make these payments without paying a fee to credit card companies. Instead, blockchain fees are delivered to cryptocurrency miners, and if any fees are implemented, these are infinitesimal.
More Interesting Gaming Universes
One of the biggest satisfactions behind playing online games is the escapism that it provides, so what could be more exciting than having access to even more gaming universes? The distributed ledger that is blockchain can make it possible for gamers to take advantage of their characters and items across multiple games via interlinked environments. In fact, to make the gaming experience even more fulfilling and personalized, in-game algorithms can be used to calculate a player’s gameplay preferences, offering them gaming universes that are tailored to their individual preferences.
Thus far, the implications of this are quite profound – after all, how extreme is reaching level 79547 across multiple gaming platforms? Ongoing character development is something that’s yet to be perfected, however, developers may be able to connect gaming universes using data that are stored in digital assets. Or alternatively, developers could even create parallel gaming universes, which will result in increased loyalty over all interlinked titles.
Watching the gaming industry rapidly evolve due to the use of blockchain technology is massively exciting, and while there are still a few creases that need smoothing out, the potential is huge.