Time is money. So, what would the world eventually be like if you could spend time playing your favorite games and earn a living? And we’re not talking about the future, but the present; as millions of dollars are being invested in games operating on the blockchain with NFT tokens delivering real value and unique ownership of what you win.
So, P2E (play-to-earn) crypto games have turned the tables on blockchain game development, placing players in charge of their own financial destiny instead of developers.
Cryptocurrencies, DeFi, and blockchain game development are buzzwords in today's tech world, but what do they mean, and how are they evolving the gaming industry? The questions and concerns don’t end here.
We also wonder whether blockchain crypto has revolutionized the gaming landscape. And it’s worth asking whether blockchain development companies are in danger of losing market share. Well, hold on a bit. Take a deep breath and explore some details.
Identifying the latest trends in Blockchain game development and where the technology is headed is the first step toward addressing these questions. So, let’s delve in to determine the impact of Blockchain's future in the gaming industry.
Blockchain technology has been around for years but didn’t draw the attention it deserved until much later when the need for accountability, traceability, and better security became mandatory across several verticals especially Finance. But what does that have to do with gaming?
With Blockchain Integration, Gaming is Taking Off
Blockchain technology has prepared the path for the future of gaming by democratizing the flow of money movement as well as data and identity protection. Experts predict that the mainstream adoption of cryptocurrency, DeFi, and NFTs will significantly impact the blockchain game development landscape.
Furthermore, regulatory pressure may lead financial organizations, both incumbents and fintechs, to adopt blockchain technology. The thing is that Blockchain has brought a drastic revolution to every domain, whether it's finance, medical, cryptocurrency, or games.
So why is Blockchain now a part of the gaming industry?
The answer: That’s because of its decentralized nature and the fact that it ensures uniqueness and asset ownership in terms of your awarded tokens and other in-game rewards you earn.
Is Blockchain a futuristic technology?
Yes, yes, it is. This groundbreaking technology is set to bring about revolutionary transformations to the virtual gaming experience. Also, with dApp development services, developers worldwide have begun exploring and leveraging this technology.
Blockchain as a Gaming Mechanic
A growing market for blockchain gaming goes beyond cute digital representations of cats. There is an emerging side market that could help the industry grow or even compete.
A standout example of a video game based on Blockchain is CryptoKitties, released in 2017, drawing enough excitement and making a big splash in the world of games. This game is perfect for cat lovers as it allows you to purchase, collect, breed, and sell a variety of virtual cats.
Blockchain is disruptive!
We are at a juncture where blockchain tech has begun gaining traction, and innumerable possibilities can be foreseen. Bitcoin was the first generation of currency on the blockchain, and blockchain tech gained popularity once Bitcoin was introduced.
Then, Ethereum came along with its Smart Contracts built with blockchain support. The smart contract immutability makes it more challenging for anyone to add a fraudulent entry.
You can get more in-depth information about Blockchain-based Smart Contracts, right here.
Figures don't lie:
Video gamers are estimated to number over 1.8 billion globally, according to Newzoo, if you include those playing on mobile devices, which adds another 500 million to that already staggering figure. Similarly, the gaming industry was already valued at $137 billion in 2018. This represents an increase of 13.3% from the year before, or $16.2 billion. With $125.3 billion in revenue, digital games will comprise 91 percent of the market.
Top 3 Blockchain Game Development Platforms:
Let us discuss the three essential blockchain platforms for crypto gaming; Tron, Eth, and Eros. Each of these blockchain networks has special features for crypto collectibles because they all use NTFS-based storage, competing against each other.
1. TRON (TRX)
Tron (TRX) is a blockchain platform that enables the development and deployment of decentralized entertainment ecosystems. Also, it aims to facilitate the creation of decentralized content apps to expand the market.
With TRON, TRX is the official cryptocurrency, and the code was based on Ethereum. Comparing Tron's transaction system to that of Bitcoin and Ethereum, Tron can handle 2000 transactions per second compared to Ethereum's 25, and Bitcoin's 6 transaction per second.
TRON’s architecture comprises three layers; the core, the storage, and the application layer:
1. The core layer includes smart contracts, account management, wallet APIs, SDKs, and consensus.
2. GPRC block’s storage, and state storage resides in the storage layer.
3. Finally, the application layer allows developers to build TRON apps and customize TRON wallets easily.
With TRON, you will be exposed to the most cutting-edge blockchain technology, which is poised for more potential milestones in the near future.
Boom time, Ethereum is now over $4,700 per Ether.
This is another notable blockchain platform that has reached a new high in recent weeks, breaking numerous barriers and speeding up transactions. With Ethereum, an extended online support community keeps everyone updated concerning product implementation and other important aspects.
EOS is another blockchain platform was developed to address the scalability problems of other blockchain platforms like Ethereum and Bitcoin. It offers a decentralized operating system allowing millions of transactions per second, without transaction fees, and rapid transactions.
Monster EOS, OxWarriors, and EOS Knights Blockchain Cuties are the most popular games on the EOS platform that significantly benefit gamers.
Traditional Gaming vs. Blockchain Game Development
Decentralization Promotes Freedom
With blockchain games, players experience a different gameplay experience compared to traditional games like FIFA and Grand Theft Auto. In contrast to conventional video games, blockchain games allow you to analyze all your actions and those of your opponents.
With blockchain games, players and developers both experience increased freedom and security. Moreover, game developers have an innovative ecosystem to create, which provides more for gamers to enjoy.
Customer acquisition equals revenue generation, but you'll find yourself spinning your wheels and getting frustrated if you get the wrong support, won't you? But with the right tech experts and an experienced blockchain solutions company, you can conquer the competition.
Blockchain Game Development Company
Creating a game is a fantastic idea, but you need to have a robust game app development process to ensure success. Without an optimized process, you may end up facing issues with the transaction process in your game. What transpires should you choose to launch a game with such flaws is unreliability that breeds customer distrust. The ultimate fallout is financial loss and brand disrepute.
Every year, the game development arena faces a significant incidence of failure, and we don't want you to be a part of that list. Instead, choose an expert that has enough knowledge and blockchain game development experience, as well as proof of outstanding customer satisfaction for innovative products they have built.
Why Cubix? Our work speaks for itself.
“We worked with Cubix for the development of our video game app, “Tissot Hoops” and the experience far exceeded our expectations. They were professional, knowledgeable, and very accommodating to our timeline and goals. The talented group of developers and marketing staff in the company make Cubix a great company to partner with to reach your digital objectives.”
Carole Bardasano, Digital Marketing, Swatch Group, US
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