Integrating blockchain technology will invoke a lot of potential in the gaming sector. With the introduction of cryptocurrencies, game assets can be made more secure and payment transactions can be made a lot faster than anticipated. It is already making immense improvements in the gaming industry and frees game developers of certain shackles that have plagued the gaming industry for a long time.

Let us check out how the integration of cryptocurrency and blockchain technology is influencing the gaming industry.

Enhanced game developer tools

A number of blockchain platforms are targeting game developers (like Magnachain) which allows developers to create tokenized ecosystems and games on the blockchain platform. These platforms are meant to support developers who are not fluent with the blockchain specific languages and want to dive into the blockchain gaming bandwagon. Other blockchain platforms (like the CryptoZombies) allow developers to include blockchain technology into their game from scratch so that they can explore potential use cases for blockchain gaming or integrate the technology into their existing video games.

In-game purchases

In-game purchases are getting popular day by day and the integration of blockchain technology will make the purchases more secure and faster than ever before. More players will be able to access the games globally if games start incorporating cryptocurrencies as a payment method for in-game purchases. Blockchain technology will eliminate the need for fluctuating exchange valuations. When making micro-transactions, it won’t need any intermediaries which will be beneficial for the players. Already, there are a couple of games that accept transactions with cryptocurrencies. With cryptocurrencies, online casinos won’t have to support dozens of payment methods. Players will be able to access their favorite games irrespective of the global currencies that are supported by online casinos in the UK like Monster Casino. Tokens can be provided that will also allow players to buy several in-game items. The possibilities are almost endless.

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Better gameplay experience

Blockchain technology and gaming go hand in hand and can offer ways to players to generate income, create a sense of community and enhance the player experience. There are several Blockchain platforms (like Plair) which allow players to connect better with like-minded individuals and bring streaming under a decentralized platform. This will allow players to reward viewers and streamers alike for their participation. Players can make a steady income from the platform by cashing in on the rewards from several gaming aspects like the time spent on the game. Imagine getting rewarded for playing a game for more than 4 hours. Wouldn’t it be awesome?


More collaboration among players

With cryptocurrencies, players will be able to collaborate with other players on every aspect of the game. They will be able to customize and send in-game items to another player in a different game and more. The best part is that the entire process will happen seamlessly without the need to log out and log in. Player loyalty will increase as more and more players start utilizing cross-platform gaming. Cross-platform gaming will create a boom in creativity and with blockchain technology, it will get even better.

Ownership

Cryptocurrencies and blockchain technology will ensure that the game assets of the players belong to them and them only. He or she is the true owner of the assets and it does not belong to any centralized authority like the game publishers. It will aim to improve the way how players interact with their games and ensure authentic item ownership with the help of smart contracts. The information in these contracts is publicly audit-able. As players will understand that their assets and game statuses are protected with the blockchain technology, it will bring back the trust among the game developers and the players which is crucial in the gaming industry.

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As the middlemen are cut out completely, the technology will allow players to run their personal marketplaces and make the process cheaper for players.  Freemium games will benefit the most by adopting cryptocurrencies as the games are based around commodity purchases. In the coming years, this interaction without intermediaries will ensure transparency and security due to the distributed ledger.

Collectables

There are several games in the market that uses blockchain technology to collect virtual items that are unique in nature. You won’t find any duplicate of that particular item anywhere else in the world. You will find a game called Cryptokitties that is popular among blockchain users and allows players to collect unique cartoon cats due to their DNA like breeding. It utilizes the smart contracts of Ethereum and has impacted the popularity of Ethereum to a great extent. It has shown how cryptocurrencies can be utilized for innovative uses beyond online cash transactions. It is similar to owning digital art.


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