5 Ways Blockchain Technology Can Help Your Gaming Business
The igaming business has come a long way ever since its origins. Those of us who remember playing Mario on a 16-bit console know how this once-simple industry has grown into a treasure trove of emotionally charged, engaging virtual reality games that reward precision and planning./n Because their characters are tailored to their own personalities, massively multiplayer online games like PlayerUnknown's Battlegrounds (PUBG) require players to live in a fair universe. Any abuse of the character reflects badly on the player./n Characters do not perish like Mario, nor do they chase a distant objective like a princess in a castle. These games are based on real-life circumstances and have a lot of emotional implications.
What Does Blockchain Mean for Your Gaming Business?
The majority of the games are streamed online, where players utilize virtual assets to accomplish specific goals and prove their dominance. Gaming continues to gain popularity as a global sport./n Due to the need for a new system that can replace the faults that are present in the existing paper money system with something entirely new and revolutionary, the adoption of blockchain technology has exploded in recent years.
Here are a few ways in which blockchain technology will help your gaming business:
Creatix.tech blockchain developers say that blockchain is easy to use in gaming because it is liquid and because gamers are already used to tokenization./n Furthermore, because many games allow players to purchase in-game content with both virtual and real money, we agree that blockchain is the ideal way to track these transactions./n Blockchain technology will almost certainly have a positive impact on cryptocurrency and video games. Blockchain addresses a number of long-standing challenges in the gaming industry.
1. Increasing the gaming market security
Hackers won't be able to get into data on the server because blockchain has the power to make it decentralized and has very good ways to encrypt data./n As a result, it provides a safe atmosphere for game creators and entrepreneurs, resulting in greater productivity. Since there are no servers to hack, hackers would not be able to shut down a decentralized blockchain network.
2. Increasing the value of in-game assets
Blockchain technology can help with in-game asset ownership by bringing more transparency and legislation to the gaming industry. Actual digital ownership is one of the most important parts of games that use blockchain technology. This will let players trade rare items and make money from them./n All transactions in a blockchain-based game are handled by smart contracts. Smart contracts are run on pre-programmed parameters and are irreversible. So, when you launch a blockchain-based game, all in-game assets that users get through smart contracts are sent right away to their public address accounts./n Aside from that, smart contracts are managed without the use of a central authority. No one has the ability to modify the public address where the in-game assets are kept, and no one has the ability to change the private ownership of those assets. They will remain the property of the player that owns them in the game.
3. Improving intangible asset value projections
Gamers had invested around $6.7 million by December 6th after Crypto Kitties were introduced on November 28th, 2017. Based on these numbers, when a fun game is made on the blockchain, gamers will value digital collectibles that can't be touched./n If you design an entertaining blockchain game, players will be eager to pay real money for intangible digital commodities. When you combine cryptocurrencies with fun and interesting video games, your investment will almost certainly go up.
4. Take Command of Your Favorite Video Games
These blockchain-based gaming networks are immutable. This ensures the continuity of network-deployed game programs and series in the future. This also means that you can download and install different versions of video games from anywhere without affecting the way you play.
5. Trading resources and earning rewards
Through blockchain gaming and play to earn techniques, gamers and developers can create resource-rich games and apps, as well as update game versions and receive awards. This allows them to contribute and earn tokens while enhancing the app's user experience.
Conclusion
We can now see how emerging cryptocurrencies with video games can provide a more fun, secure, and fluid gaming experience. The cryptocurrency gaming industry is still in its early stages. As a result, users will be able to try out new games in the following years./n The gaming industry has never disappointed its customers. Even though the internet helped the gaming industry grow, it couldn't keep unscrupulous people and bad gamers out./n Fortunately, blockchain-based gaming is the next step toward safeguarding video games and establishing a long-term industry standard. As things stand, cryptocurrency and video games could change the gaming industry forever.
