The potential of blockchain in gaming extends beyond powering virtual economies: There are also other limitations associated with this model, including lack of transparency and potential for manipulation of game mechanics.īlockchain introduced for the first time decentralized and fair virtual markets, where players have a real say as gaming companies no longer have total control over the entire gaming experience. Since it's all owned by one entity, players have no real ownership of their accounts and items. That's because for most of gaming history, developers followed a centralized model which means that they've had full control over game dynamics, from the storyline to the game assets collected by players. But they might not own any of it, even if they paid real money for it. Typically, most games will have marketplaces where users can purchase and exchange items, like weapons, avatars and loot boxes. Blockchain powers cryptocurrencies, like Bitcoin and Ethereum, opening a world of possibilities across virtual economies - and game developers have certainly realized the potential. A network's transaction history is, in principle, publicly available. But before we get into the details, it's worth understanding how it all works.īlockchain is a form of ledger technology that functions as a recording and storing system for information and it can’t be hacked, tampered with or otherwise altered. The rise of blockchain games has turned the tables on the gaming industry by making players, and not developers, the main financial decision-makers.Play-to-earn (P2E) crypto gaming is a trend that shouldn't be overlooked. However, beyond the world of eSports, there haven't even been many opportunities for casual players to cash in on the effort they put into gaming - until now. So they’ve started looking for ways to monetize their hobby.

As the saying goes, time is money and players have certainly taken notice that they're making a big investment in virtual experiences with little return. Behind this boom is a recent surge in new players, especially in mobile platforms, which have made gaming a more practical and easily accessible experience for the estimated 2.6 billion gamers worldwide.īut for many, being online just for fun is no longer their primary driver. The gaming industry is currently valued at $173 billion, with very positive indicators showing that it will surpass the $300 billion mark in the next five years. Gaming is growing faster than ever before.

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