Blockchain Gaming: The Intersection of Technology and Entertainment

Gone are the days when people used to say we cannot make a living by playing games. Well, influencers like PewDiePie changed the scene. The next biggest game-changing moment is the Play to Earn stuff! Blockchain in the Gaming industry has options to earn while playing games. Gamers can earn real-world assets and NFT assets or other gaming elements which have real-world monetary value. Blockchain gaming is an emerging trend that combines the technology of blockchain with the entertainment industry. Binds the world of gaming and the decentralized nature of blockchain technology to create new and exciting gaming experiences.

One of the key features of blockchain gaming is the concept of non-fungible tokens (NFTs). 

What is NFT?

In Q1 2023, almost 800,000 blockchain gamers were involved. In generic NFTs, buying and selling digital assets, Herein Blockchain gaming  NFTs represent in-game items, characters, or even virtual real estate. These assets are stored on the blockchain, ensuring their scarcity and authenticity.

How does blockchain gaming happen? 

Unlike traditional centralized games controlled completely by the gaming company, blockchain Game developers create decentralized virtual worlds/3D game props, furniture, cars, and builders where players have true ownership and control over their in-game assets. Players can buy, sell, and trade these NFTs, giving them a sense of ownership and value in the gaming world. Blockchain in gaming integrates smart contracts which are self-executing the predetermined contracts written into code, which enable automated transactions and interactions between players.  

For example, Axie Infinity is a popular blockchain game where players can collect, breed, and battle digital creatures called Axies. The game has gained significant attention for its play-to-earn model.

The Sandbox is a user-generated content platform where players can create, own, and monetize their own voxel-based gaming experiences. It leverages blockchain technology for true ownership and decentralized asset trading. 

For example, players can engage in peer-to-peer bidding/stalking/trading of in-game assets without the need for intermediaries, concept of play-to-earn, Blockchain in the game uses a decentralized network which is tamper-proof, blockchain records each level of the game earning transaction in a secured and transparent methodology this invokes gaming industry to implicate blockchain in gaming, rewards the loyalties with accuracy.

How do the players are rewarded? 

By participating in blockchain-based games, NFTs -Players can earn in cryptocurrencies which can be exchanged for real-world currency or used within the gaming ecosystem. So, the gamers have the option to stake their NFTs and sell their rare NFT gaming elements like weapons and other accessories.

Advantages of Blockchain gaming 

• Makes games safer from hackers

• More accessible and decentralized

• More Secure

• Good earnings and  investment and 

• Letting players manage their assets more easily 

Overall blockchain gaming builds trust, transparency, security, and the traceability of data shared across a business network — and delivers cost savings with new efficiencies. Furthermore, blockchain gaming upholds transparency and fairness in gaming. The decentralized nature of blockchain ensures that game outcomes and transactions are recorded on an immutable ledger, eliminating the possibility of cheating or fraud. This creates a level playing field for all players and enhances trust within the gaming community. Are you a game developer /gamer who wants to build your gaming application using blockchain? reach BSEtec – a leading blockchain development company that can build your dream gaming with blockchain. 

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