The gaming industry is overgrowing and is currently valued at $173 billion. According to some analysts, this figure may increase over the next 5 years to $300 billion.
At the exact moment, gamers are a particular type of user. They always positively perceive the release of new products, actively master new game mechanics, and generally are a very loyal audience. This makes investing in game dev especially attractive.
What are blockchain ​​games?
Blockchain games are applications based on blockchain game development services technology that use non-fungible tokens as part of the in-game process. For example, most of the symbols, things, and articles in such a game are NFTs. It indicates that they are special and may only belong to one person at a time.
In addition, fungible tokens are often used to ensure the internal economy in blockchain games, which perform the task of an internal currency to confirm transactions. Depending on the project’s financial model, they can be purchased for cryptocurrency or earned through in-game farming.
In most possibilities, they are constructed around one of three major technicians:
- Mystery Boxes. It applies the sale of “Mystery Boxes” to participants, which, with a specific degree of possibility, may have NFTs of various values.
- Play-to-earn. It is cracked as “play to succeed.” In this circumstance, participants gain the chance to earn real money. When they achieve in-game success, they earn an internal token, which can subsequently be traded on crypto exchanges and withdrawn to cash.
- Pay-to-earn. It translates as “Pay to achieve.” The fact is that players purchase different collectible things in the NFT format – non-fungible tokens. In the future, they can resell them for greater value to other participants in the gameplay.
In some projects, these mechanics are combined, such as in the popular game “Step.” Here, to start earning tokens according to the play-to-earn model, a gamer needs to purchase a starting NFT. In addition, during the gameplay, a person can optionally buy “Boxes” to get a more valuable token.
Benefits of using blockchain ​​technology in games
According to a recent report by DappRadar, since the beginning of 2021, the number of games created based on blockchain technology has increased by 2000%, corresponding to 52% of all blockchain activity. Over a year and a half, such tasks have attracted more than 1.22 million individual active wallets.
Such a surge in popularity for crypto games is entirely justified because they give gamers several significant advantages in addition to the possibility of actual earnings. Let’s consider the main ones in more detail. And read more info here:Â https://unicsoft.com/hire-blockchain-developers-with-unicsoft/.
Speed of transactions and commissions
Transactions within the blockchain network are processed almost instantly, while they do not have a commission, usually charged by intermediaries – traditional payment systems. Thus, in-game payments evolve quite more affordable for gamers, nevertheless of the country in which they live.
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