Will Blockchain Help in Game Development?
Blockchain technology has proven to be a paradigm shift in this ever-changing era of digital technology. With the introduction of Blockchain Development, an optimum level of transparency, flexibility, and real-time transaction settlement has been achieved in running a digital economy, without the interference of third-party.
As per the statistics report for the Global Gaming Market is expected to reach a whopping USD 314.40 by 2026, forecasting a CAGR of 9.46%. This blog walks you through the future of the digital gaming industry with the emergence of Blockchain technology.
Before we jump into the deets of these, let's infer the problems involved in centralized gaming platforms and how blockchain game development can make a difference.
Cross-Out the Cons in Digital Gaming
The economy of digital games is highly controlled by game developers. With the centralized server system, it has very little room for transparency over transactions within the game, making it vulnerable to fraud and unfair ownership. The players have no security towards gaming assets nor they can trade any of those in case of digital exchange. It brings about a point that digital assets in gaming don't hold any value, and are not secure enough, unlike blockchain.
Hence, Blockchain makes sense in improving the fundamentals of online gaming with innovative, transparent, and secure exchange on a computer network.
Let's walk you through the benefits of Blockchain in Game Development Service, an innovation that is equally favorable to players and blockchain game developers.
Benefits of Blockchain Gaming
Assets Ownership
The traditional gaming system has various collectible props which can be earned by winning through levels or by purchasing them through real money. However, these digital assets are virtual and hold no value to be traded. On the contrary, Blockchain games offer real ownership of collected items based on the same technology of cryptocurrencies like Ethereum and Bitcoin.
Blockchain gaming ensures that the players can move and sell items to create valuable transactions. The contribution of Blockchain technology enables asset tokenization across the decentralized gaming platforms making it transparent and fair to all the players.
Collection of NFT
Once the player has a set of game collectibles, Blockchain has a system to store them in the form of non-fungible tokens known as NFT. These tokens represent the assets or items inside the gameplay and hold unique value. NFTs are easy to manage, store, and trade in the crypto market with reasonable transactional fees.
For instance, an NFT works as an analogy to represent a weapon, shield, character, or art in the game. Even if the entire game dies, the player still owns the item and can store it in a cryptocurrency wallet.
Enhanced Security
The traditional online games are deployed on centralized servers and the transactions made are likely to have security concerns. The gaming accounts can get hacked and the items in the wallet are likely to get stolen. Blockchain developers integrate the most protectable way of storing valuable digital assets, reducing the risks against fraud, and enhancing security.
Transforming the Digital Gaming Industry
Online game development has become an independent industry genre of its own. Over the last five years, the advancement of blockchain technology in digital gaming has become a platform for owning gaming economies for items that you earn inside the game with valuable transactions. The gaming economies work cryptocurrency or digital assets, not limited to the wallet but also outside the game.
Blockchain technology facilitates transparency in the ownership of these assets by offering a trustless environment. Hence, the economy in the traditional game development which was controlled by the top game developers is now managed in a decentralized manner. It increases the trust between game developers and the players.
Final Words
The decentralized gaming system will revolutionize online game development and the entire play with the introduction of extraordinary features. The immediate future of technology is stepping small steps towards decentralized gaming systems and sooner or later it will have a major impact on revamping the current Game Development Service.
We hope this blog turned out valuable to you in getting a sneak peek into the world of online gaming with blockchain’s revolutionary solutions. Get in touch with a Top Blockchain Development Company to develop a blockchain-enabled online game and become a part of this revolutionary ecosystem.