The game business has gone a long way since its humble beginnings. There was a time when simple 2D video games or a 16-bit gaming machine were the norms. It has grown into a behemoth with 3D games and compelling AR and VR-enabled games that may emotionally engage you. Due to meticulous planning, the games are now constructed with precision.

An unprecedented expansion fueled by simple yet effective factors.

Gaming has a market capitalization of over $162 billion. This figure is predicted to nearly triple to nearly $300 billion in the next five years. Remember the classic snake game on old cell phones? The dedicated gaming crowd initially considered traditional mobile games as a passing fad. However, with over 2.5 billion mobile gamers worldwide by 2020, these mobile games have amassed a massive valuation. In fact, it has been a major driving force in the gaming business.

Gaming is gaining popularity as a global sport. Many of these mobile games for Android, iOS, Linux, and other consoles are now streamed online, with players using virtual assets to complete objectives or advance to the next level. Blockchain technology has recently caught the attention of the gaming industry. For years, it has been quietly affecting the field. Continue reading to learn how blockchain technology can be used in NFT game creation.

NFT Game Development Transforms the Gaming Industry with Blockchain:

When Bitcoin and cryptocurrencies exploded in popularity in 2008, Blockchain became an instant hit. The gaming industry was the next successful blockchain milestone. This isn’t only about replacing paper money; it has a lot of other uses as well. Blockchain technology has completely altered the gaming industry and has recently erupted. How? In the future, Blockchain will transform the gaming industry in terms of how games are made, maintained, and played.

Understanding the blockchain technology

Blockchain is a computer network that consists of a chain of data blocks that are entirely transparent to users and others. As a result, one can keep track of everything that has happened on the network. It cannot be changed or replaced in any way.

League of Legends, Fortnight, Minecraft, Dota 2, and Crossfire are among the most popular video games, and their success is impossible to match. Nonetheless, blockchain technology has drawn a large number of gamers to cryptocurrency games. Immutability, decentralization, increased security, and transparency is four critical characteristics of blockchain technology that may be felt in any field where it is used. These characteristics are also transforming the game business.

Decentralization in Gaming: The Most Important Blockchain Features

Items that a player buys or wins in one game can be used efficiently in another game, thanks to decentralization. When a gamer meets one of the aforementioned conditions, such as reaching a goal or purchasing an asset, ownership of the digital item is instantly transferred to the gamer. The gamer will become the genuine owner of the object and will be able to sell it for profit.

Transparency

Transparency is another benefit of incorporating blockchain technology. Transparency allows gamers to learn everything there is to know about a digital asset, including how to acquire and sell it. Players must purchase resources such as swords, tanks, cash, equipment, housing renovation materials, fishing gear, and so on in order to achieve a few objectives. You will discover that some goods are either unavailable or extremely expensive. This is where blockchain integration comes in handy, something that most modern games lack. Gaming equipment is tokenized on the Blockchain, which creates a decentralized gaming market. As a result, players’ trust in the game grows.

Immutability

Immutable transactions are made possible via Blockchain. This prevents ownership and purchases of digital assets from being modified or erased.

Also, read – Everything you need to know about Crypto Gambling

Increased Security

Finally, cryptography and blockchain technology can assure the increased security of payments and other data. Additionally, using Blockchain in games can prevent any unlawful asset transactions.

How are NFTs advancing gaming?

A gamer can hold digital assets, also known as NFTs, on the gaming blockchain in the same manner that they can own Litecoin, Bitcoin, or Ethereum. These look like they belong in a video game. However, they are held in the same way as cryptocurrencies and can be transferred to a wallet and other games.

So, What Is the Crucial Role of NFTs?

Are you unsure what NFTs are? These are valuable, unforgeable, and unique digital assets that resemble money. A bow, a sword, a shield, a portion, a staff, fishing gear, and so on are examples of NFTs. If you own them and meet specific qualifications, you can have them all to yourself.

NFT games combine traditional gaming elements with unique gameplay techniques to give players more ownership and control over gaming assets such as weapons, characters, and skins. Axie Infinity, Gods Unchained, Sandbox 3D, Splinterlands, Alien Worlds, Battle Racers, Gold Fever, Neon District, Crypto-Snake, and Sorare are some of the best NFT games.

Gaming’s Biggest Trends Blockchain

So, how do you see Blockchain revolutionizing the game industry? Several significant changes in the gaming industry have only become possible due to blockchain technology. Play-to-earn mode, tokenization, and the above-mentioned NFTs are only a few of the exciting trends. Decentraland, Nine Chronicles, Age of Rust, Lost Relics, REVV Racing, and a few other blockchain-based games are unbeatable.

Tokenization

Blockchain has made asset tokenization possible, which means that any actual or digital asset can be converted into tokens. Tokenization can be used to tokenize digital goods like tools, weapons, currencies, gems, skins, or any characters. Convertible assets like these can subsequently be sold on gaming exchanges. Gamers can become owners of such assets and transfer or sell them with total transparency, all of which can be safely documented on the Blockchain. You can also check the validity as a player.

Earning Prospects

Is it a real deal to earn cryptocurrency by playing games? After all, why not? You can exchange NFTs on digital marketplaces after obtaining them. CryptoBlades is a beautiful example, where players earn SKILL tokens by beating adversaries, fighting monsters, and ultimately completing raids. After the game is done, you can trade your tokens, such as characters or unique digital things, on the marketplace.

Industry Challenges Addressed by Blockchain

The future of gaming appears to be brighter with Blockchain. Let’s read about the tremendous advantages of the gaming industry:

• It provides you with complete control over your favorite video games by allowing you to download and install them. Enforcing data encryption to improve the gaming industry’s security.
• Increasing digital asset ownership by allowing you to trade rare things and profit.
• Enhancing non-physical asset value projections by assigning a real value to them.
• Earning incentives through trading tokens.
• Because cryptocurrencies are secret and secure, they are used for secure payments.
• Using gaming profiles to gain access to games and other platform features.

Takeaway

Would you like to investigate the possibility of incorporating blockchain technology into the gaming business through the creation of NFT games? Consider Juego Studios if you want to learn more about such lucrative opportunities. Juego Studios has evolved from game design to a complete technological solutions supplier throughout the years. Juego Studios’ experienced professionals dabble in AR/VR, IoT, AI, game development services, and other emerging technologies. Visit Juego Studios’ website to look through an incredible portfolio of games. Visit Juego Studios for additional information and to submit your questions or requirements right away.