Business Benefits of Integrating Blockchain into Game App Development
Today, playing games can be a means to earn money in addition to just having fun. We are on the apex of a new digital economy where games are linked to assets and even more cutting-edge technologies as the concept of a meta-universe gains popularity.
One of the most hopeful methods for managing these ecosystems is blockchain. This blog will examine how blockchain can change the gaming industry and how businesses can put those changes into practice. Did you know that when compared to 2021, blockchain gaming activity will increase by 2000% in 2022 and beyond? Blockchain in gaming is a stable commodity that has received more than $2.5 billion in investment from VCs and other international investors, despite the industry’s difficult micro- and macroeconomic conditions.
Also, read How to Develop a Profitable Mobile Game?
How do Blockchain Games Work?
Blockchain games are essentially video games that are created on the blockchain. In other words, they are placed on a blockchain, and the entire cluster of systems that is playing the game owns a copy of it. They enable the players to purchase or sell cryptocurrencies, NFTs, or other elements of blockchain with other players over the internet. With hundreds of blockchain games/cryptocurrency games in the market, a few famous ones include CryptoKitties, Decentraland, Gods Unchained, The Last Will, and others.
How Blockchain Technology Has Benefited the Gaming Industry?
Implementing blockchain in gaming is simple, say, experts, due to its value and the fact that players are accustomed to tokenization. Additionally, because many video games enable players to purchase in-game goods using both real money and virtual currency, experts concur that the blockchain would be the best way to record these transactions. Blockchain technology is believed to interact favorably with cryptocurrencies and video games. Blockchain provides solutions for several enduring problems in the gaming industry. However, let’s have a look at its benefits now.
1. Increased Security
Because of the decentralization and data encryption capabilities of blockchain, it will be very difficult for hackers to access data across the computer. As a result, it provides a secure atmosphere for both game entrepreneurs and developers, resulting in increased productivity. Since there are no servers to compromise, hackers would be unable to bring down a decentralized blockchain network.
2. Transparent Transactions
Blockchain technology provides a layer of assurance for participants in transactions because it is secure and transparent. It is also ideal for games where players transmit susceptible data or virtual assets like NFTs.
3. Improved Trading
Gamers have the option of trading their items for money or other resources. Blockchain technology records each in-game object and its ownership, enabling gamers to exchange. They are aware that neither their virtual possessions nor copies of them will be taken.
4. Increased Customer Satisfaction
Blockchain offers a more effective, secure, and transparent method to conduct digital transactions and gain access to virtual assets, which can help to enhance the user experience overall.
Users have more influence over their gaming experience with blockchain gaming. They can obtain different video games in different versions from anywhere without risking their gaming experience, thanks to this as well.
5. Getting Rewards
By finishing missions and quests, players can receive rewards in the shape of cryptocurrencies. In conventional games, winning participants receive points that have no value outside of the game. However, they can acquire cryptocurrencies through blockchain-based games that they can then use as real money to buy goods from other players or even from e-commerce websites.
6. Gamers with Integrated Profiles
Before they can access the platform’s games and other features, users of the majority of gaming platforms must first establish a gaming profile. On the other hand, users of blockchain gaming apps can set up a solitary, integrated gaming profile that can be viewed and used across a variety of gaming portals.
A singular, integrated gaming profile that can be viewed and used across numerous gaming portals can be created by users of blockchain gaming apps. This technique enhances the gaming user experience by making program interlinking activities more available.
7. End-To-End Encryption
Blockchain technology provides an additional degree of security due to encryption techniques like Secure Messaging and Two-Factor Authentication. Consequently, it is feasible to safeguard sensitive data.
Wrapping It Up
Blockchain is an innovative technology with potential uses across almost all sectors. Though successful game ecosystems have been developed with the aid of new decentralized technologies, the blockchain is most advantageous to players. Among the advantages of blockchain in gaming are true asset ownership, decentralization, transparent gameplay, earning cryptocurrencies and tokens while playing, resilience to censorship, and the absence of a centralized infrastructure to handle developers.
Thanks to the gaming sector, blockchain has a great chance of spreading, and gaming will largely advance to a new level thanks to blockchain. If you want to venture into this world of gaming, then hire a top-notch mobile game app development company that can develop intuitive gaming apps that delights your users and keeps them engaged throughout.
