Why Crypto Gaming Could Be the Future of the Global Gaming Industry
By mid-2020, the global gaming sector is set to exceed $150 billion. It’s remarkable how far games have come from Pong and Snake. If you’re really into games and are an aspiring developer, there are a lot of things that you will need to be aware of. One of the most exciting emerging trends is crypto gaming and we really think that this is going to be the future of the global gaming industry as we know it. Let’s find out more.
Very Easy to Purchase In-Game
All of the latest exciting video games have functionality that allows players to make in-game purchases. When you incorporate crypto into this, players do not need to bring in third-party companies to process payments, instead, people can make easy and instant purchasers of items. This is truly remarkable and is in gamers’ interests because they can save on fees. All the latest blockchain start-ups are trying to incorporate this kind of technology and are cashing in on this opportunity in the gaming world. People are looking towards incorporating SDKs, crypto wallets and game plug-ins that facilitate payment gateways. What the time to be alive!
Taking the Power Back
The crypto gaming world is allowing gamers to buy and sell tokens within games. Users can purchase and sell different assets using cryptocurrencies such as Bitcoin or Euthereum. Essentially, gamers can take the power back by making various transactions without third parties, plus they can keep their digital currency in a safe manner within a crypto wallet. All that needs to be done is to secure your private key within the wallet and any transaction will be completely safe. It’s not always smooth sailing but avoiding strange websites, backing up your data regularly and not keeping too many kinds of currency in your wallet are all things that you will want to practice when it comes to proper computer maintenance. This stuff is easy enough to do.
Safe and Secure
Most blockchain platforms incorporate data encryption technology so that everything can be safe and sound. It’s unsurprising that blockchain is very difficult to hack and the encrypted and anonymous nature of the blockchain is great to incorporate in the gaming world. So how does it all work? It’s a complicated digital architecture, but that essentially prevents people from being able to hack easily because there is no single server. All transactions are incorporated in a ledger and every person who uses the technology as this larger which contains every transaction that ever occurred. If you’re trying to develop games, you can keep things very secure and safe when incorporating blockchain tech. It’s all good!
There’s A Lot of Money to Be Made
If you are doubting whether blockchain gaming is lucrative, you only need to look at games such as CryptoKitties. People have spent over $6 million in CryptoKitties since their launch in 2017. It is a shocking statistic that highlights just how lucrative this field is. It makes sense as well because people can protect the real value on any collectible items that they require within games. All you need is to create a really unique, fun and interesting games which allow users to make instant crypto-related transactions and disband on in-game items. Once you’ve got this architecture, the sky’s the limit as to how much money you can make. Think about how many interesting things could be purchased in games – guns, custom skins, maps, levels and so much more.
Blockchain Technology Allows Players to Improve Games Together
Communication is opening up between both developers and gamers. In a blockchain, app development is driven by consensus and doesn’t rely on any top-down measures. Players and developers can both come up with brilliant ideas to enhance games. Enhancements can be made but only if the whole community is in agreement. Because nobody owns cryptocurrencies centrally, it can make development very community based and this is great for everybody. The future is proving that these are times where not only a few people at the top are calling all of the shots.
Fewer Cases of Fraud
Modern cryptographic technology and blockchain consensus algorithms can protect users from hacks and fraud. Although it can be possible for a hacker to exploit bugs in blockchain technology, it is generally very safe. Public blockchain tech means that everyone is able to read every single transaction and so an entire community can easily and quickly determine any hacks. Most of the time in the instance of hacks and fraud, money can easily be refunded when the culprit or problem has been identified.
Remarkable Gaming Industry News
The gaming industry has really caught on to crypto technology. There are a lot of exciting developments ahead and we think that the trend will continue for some time. After all, it’s making things a lot more interesting, say and fun for gamers. From mobile games to the latest computer RPG, many more game companies are going to get on board with crypto-gaming.
Do you think the mobile gaming industry is likely to catch onto blockchain technology? Tell us your thoughts and opinions in our comments section below.