Blockchain technology and its revolutionary potential has gone beyond the financial sector. During Covid-19, and the world-wide lockdown, the ecommerce and gaming industries outgrew all other business categories. Online gaming is finally surpassed online shopping as the fastest-growing industry sector. And in 2020, this sector saw a bigger growth spurt, than Cryptocurrency T-Shirts and Amazon Fire Sticks.
As more people were forced to stay indoors in order to comply with the pandemic regulations, gaming has seen growth unlike anything in years.
The best part is that gamers are always up for the best new trends in the industry. We can all agree; no one would want to engage in the same pattern gameplay for years. That is why the gaming industry has seen remarkable innovative breakthroughs that have brought a vast reshape.
These reshapes in the gaming industry are bringing a whole lot of trends ready for experimentation. Blockchain has been one of the latest breakthroughs in the gaming industry. With this technology, gamers will get one of the safest gaming environments. But that’s not all! There is more to blockchain technology in the gaming industry. Stick around to find out more!
1. Blockchain Will Allow Creation of Rare Game Assets
The creation of rare in-game assets is an already established gaming trend that will only get more pronounced with Blockchain technology. In 2021 we will see more digital collectibles that will attract great prices and drive-up revenue in this sector. The blockchain smart contracts will create the conditions to produce rarer in-game assets. However, all these rare assets will be based on the interactions.
2. Blockchain Technology Will Give Players Better Control Over their Favorite Games
In 2021, we already have CryptoKitties, which is a DApp. Generally, the DApps come with specific unique characteristics that set them apart from any other games. The DApps are run on a decentralized blockchain, and the app is run autonomously. That means the user community must reach a consensus for significant modifications to be made on the DApp.
Therefore, the game can’t be shut down by any other means unless the community comes to a consensus. That gives the players better control over their favorite game and its future. There will be no more heartbreak from their favorite games being shut down abruptly.
3. Blockchain Will Give Players Secure Storage of their In-Game Assets
Centralized servers have one major downside; they are more hacker-prone. That means the centralized game servers are always a hotbed for hackers, and as soon as they break their encryption, they can take away all assets stored on the server.
That’s where the blockchain technology comes into play. It will change that, and we are going to see more of it in 2021. The players can now buy their digital assets and securely store them on their crypto wallets.
4. Blockchain Technology Will Enhance Secure Buying of the In-Game Assets
Most people have garnered a lot of interest in cryptocurrencies. The good is that the selling and buying of crypto tokens are now easy easier. With blockchain technology, the players in each game will buy and sell their digital assets more securely.
The players will now have access to some of the best web and hardware wallets to keep their digital assets. As long as the player’s private keys are secure, all their transactions will be safe.
5. Blockchain Will Give the Developers and Entrepreneurs a Secure and Safe Environment
One of the best developments that blockchain technology will bring to the gaming world is the high level of security. Unlike the traditional streams, blockchain platforms have extremely powerful data encryption technology that will help to secure the token transactions. Such technology will be complex for any hacker to crack.
Besides that, it will be impossible for these hackers to destroy the decentralized blockchain network as there is no central server to destroy it. That’s because blockchain technology introduces nodes that store the data in distributed databases.
In addition, it will be impossible to either delete or modify any information that already exists in the blockchain. Essentially, all this means that both the developer and the entrepreneur have a secure environment to develop their games.
6. Blockchain Technology Will Enable Interoperable Player Profiles
Blockchain is changing the rules of the game by enabling interoperability in the gaming industry. What do I mean? Essentially blockchain network makes the public addresses of the investors, and crypto traders can be used to transact on different networks on the blockchain.
The same thing will happen with games based on Blockchain. Once the developers create a game, players will be able to take their unique public address from their previous game to the new one.
What’s more, gamers will be able to transact with their cryptocurrencies from their public address to various games. Such interoperability in the gaming world is definitely going to take things a notch higher.
7. Blockchain Will Allow the Gamers to Collaborate with Developers to Improve Games
Blockchain is completely changing the gaming world by fostering open communications between the developers and the players. The development of games based on blockchain is driven by consensus.
That means players or developers could come up with incredible ideas to enhance the game, and if the community at large agrees, then this change will be made. This development will help to build better collaborations between the game developers and the players themselves in order to improve the overall gaming experience.
As we have seen from this article, Blockchain is quite helpful to the gaming industry. This is the kind of technology that has the capability of creating decentralized games that no company controls the system. That means no malicious agents can exploit loopholes in the systems.
In 2021, we are likely to see more Blockchain developments in the gaming industry that will revolutionize gaming as we know it. Blockchain and gaming have proven to be natural partners. In fact, if you have any plans of building the next viral game, you should consider doing it on the blockchain network. This is the next big thing in the gaming industry; there is no reason why you should miss out.