There hasn’t been a better time to enter the blockchain gaming market. With the blockchain development services and a growing understanding of its potential value, game developers increasingly recognize multiple opportunities this new area can bring. According to Forbes, there are also large investments in this sphere. Forte, a company producing a blockchain-based platform technology for the gaming industry, and Xpring, a developer ecosystem initiative launched by Ripple, have recently announced the creation of a $100 million fund to support aspiring game developers. The fund is hoped to accelerate the mainstream adoption and spread of blockchain technology in gaming, which currently attracts more than 50,000 daily active users.
Such large investments generally align with the current expectations. According to a 2019 survey conducted by Statista, 23% of gaming executives reported that blockchain could make gaming more secure, while 19% noted that the technology is expected to contribute to customer trust.
Blockchain in games thus becomes a promising area for development, meaning that there is a growing need to understand how blockchain games work and how to create a blockchain game that would attract gamers’ attention. There are some examples of highly successful crypto games that became very popular among gamers, motivating game developers. For example, CryptoKitties, a blockchain-powered game on Ethereum using non-fungible tokens (NFTs), allows gamers to buy and auction digital cats. It has recently boasted selling the first created digital cat for ~$115,000. Another Ethereum-based game called Decentraland raised $24m via an ICO in 2017 and sold out in no time.
Thus, it’s evident that blockchain-based games are the gaming industry’s future, so the 4IRE team seeks to examine the fundamentals of crypto games creation. In this article, you will learn how such games differ from traditional games, what blockchain games are already available on the market, and what advantages of blockchain in games should be considered. Based on this data, you can make an informed decision to create your own blockchain games to make money. For those of you considering entering this market, this article also offers many practical recommendations that could make it easier to navigate the world of crypto gaming.
Traditional vs Blockchain Games
Unlike traditional video games, blockchain games use blockchain tokens as their virtual currency. These tokens can be transferred, sold, and purchased independently of the service provider. Players using crypto games should first register in the blockchain platform used by the particular game, thus gaining access to the blockchain wallet. Blockchain games are unique in terms of virtual currency use, and they provide an unprecedented degree of transparency and security to the players. Unlike traditional games, crypto games are decentralized, and they offer tangible economic benefits to the players, who can use blockchain games to earn cryptocurrency while simultaneously entertaining themselves.
Advantages of Blockchain Games for Developers
The advantages of blockchain games for developers justify investments in this sphere. Below are the most significant benefits of using blockchain in games, which you need to consider when designing your games:
- Effective data encryption. Blockchain-based games use sophisticated technology to secure crypto tokens storage and use. For developers, it means that the risk of hacking is extremely low. A decentralized blockchain network stores all the data, making it impossible for hackers to modify or compromise players’ transactions.
- Many growth opportunities. The crypto-games market is currently on the rise, meaning that companies investing in game development in this sector can enjoy multiple growth opportunities and have higher chances of earning a market share if they employ innovative blockchain solutions.
- Security and user-friendly experiences. Blockchain games can provide user-friendly experiences by offering a high degree of security and transparency. Tech-savvy gamers value these advantages and can become loyal fans of well-designed, engaging blockchain games.
- Transparency of asset distribution. Developers can also benefit from the total transparency of asset distribution. They can attract players who want to own their assets and be sure that no one would take hold of them. In this way, developers can earn a share of the traditional gaming market by attracting players who had negative experiences with game assets ownership or simply want to feel secure.
Advantages for Players
When developing a blockchain-based game, you need to ensure that your players can utilize the blockchain solutions to their maximum advantage. The main benefits that you should deliver include:
- Greater transparency. As stated earlier, blockchain technology allows for unprecedented transparency of all digital transactions in games. Players have access to all information about transactions, which ensures fairness and contributes to greater trust. Players know the total quantity of assets and are sure that developers do not manipulate them because all information is publicly verified.
- Digital ownership. A unique feature of all blockchain-based games is that they allow players to truly own the content of the games (e.g., an object they earned or purchased in the game). Developers can’t just take away assets belonging to players, and the latter is free to use, trade, sell, or store them as they please. This feature attracts gamers who want to use blockchain games to earn real money.
- Greater security. Due to advanced data encryption used in blockchain games, players can enjoy greater security. There is no risk of the data being compromised and accessed by unauthorized parties, and all transactions are appropriately protected.
- Full control. Another significant advantage of crypto games compared to traditional games is the degree of control given to players.