The gaming sector is one of the fastest-growing industries due to the development of technology. They’re always among the first to include technology innovations. That’s why it was easy for blockchain to enter the gaming industry.
Gamers started seeing new ways to enjoy gaming. Gamers can be professionals or earn rewards that have real-world value. Even online casino game enthusiasts can easily find crypto casinos among the top 10 blackjack sites. They can wager multiple cryptocurrencies beyond popular ones like Bitcoin and Ethereum. And developers have found many other ways to include blockchain in their products and platforms.
The Current Blockchain Gaming
Online gaming has always tried its best to keep up with cutting-edge tech. Like every other innovation, the gaming industry often dives first to test and find creative ways to utilize new tech. Blockchain, as the newcomer, was included among the new tech that the gaming industry has been exploring for the past few years.
GameFi and Web3 gaming are no longer mere experiments. They’ve gathered a significant following, both of which are considered to have a billion-dollar market valuation.
By 2025, blockchain in gaming will have seen a staggering growth. There are massive accomplishments, despite some challenges. Still, online gamers see progression.
Blockchain-Based Games and Digital Ownership
The emergence of crypto games changes how players see in-game assets’ values. They’re now used to seeing non-fungible tokens (NFTs) and blockchain-based tokens implemented in the games they’re playing. This makes virtual items like weapons, skins, or digital lands have real-world value.
With blockchain integration, players get total ownership of the in-game assets they’ve obtained throughout the gameplay. This may come from an in-game purchase, completing quests, winning a battle against other players, and more.
These items aren’t tied fully to the digital ecosystem anymore. Players can sell them for money or trade them to other players for another in-game item they want. For most games, players can also bring their owned items over to another game.
Factors Influencing Crypto Gaming Market Growth
The crypto gaming business has many reasons why it can gain more popularity over the years. Here are some of the key triggers that have contributed to crypto gaming’s market growth.
Increased Investment
The crypto gaming industry has undeniably gathered much attention from multiple parties. More users are adopting cryptocurrencies, and they’re turning their attention to crypto gaming. This high interest helped grow the sector’s value in the eyes of venture capitalists.
They started putting down investments. Major gaming studios also follow in their steps and contribute. With demands getting higher each day, investors see great potential in blockchain’s hold over the gaming industry.
Player Empowerment
For players, the allure of getting true ownership of their in-game items is significant. In this digital era, games are no longer a means of entertainment. It has grown to be something that gamers can make a career of. Allowing players to monetize their playing experience is essential for the industry’s growth.
Technological Advancements
Blockchain thrives on technological advancements. Its scalability and user experience have opened more ways for developers to integrate more complex gaming mechanics. With decentralized technologies, developers have more freedom to provide a unique gaming experience.
As technologies will keep improving at an immense speed, blockchain will have many ways to expand. They can bring innovation after innovation that further shape the gaming industry.
The Future of Crypto Gaming
Cryptocurrencies and blockchain in the gaming sector are still relatively new. However, judging based on the current trend, it’s likely that we can expect a few things coming from blockchain-based games in the future.
P2E (Play-to-Earn) Evolution
Currently, some games have thrived due to their P2E model. However, it’ll likely evolve in the future. It has been growing from a video game basic prize system into a full economic structure. There are multiple ways users can earn money through a blockchain-based game.
Players can lock funds for return, farm more rewards, and benefit from DAO collaborations. Going forward, players will find more ways to monetize their gameplay.
AI Integration
AI has been steadily expanding recently. It’s no longer sold as a simple tool, but as a feature that users can utilize for many things.
Developers have already been exploring AI these days to create a more immersive, engaging game. The technology is mostly useful in increasing the gameplay quality, but it can also assist in adjusting in-game trading models.
For immersion, AI can handle NPCs to give more natural behavior. On the other hand, learning machines will help detect game economy patterns.
Metaverse Expansion
Metaverse has always been one of the ultimate goals of technology. It aims to bring virtual worlds closer to the real world, giving a complete immersion in gaming. Currently, many parties are putting their hands to grow the metaverse.
Crypto gaming can be the perfect foundation of the metaverse. It’s capable of connecting multiple game assets and economies, allowing players to move freely between different titles without losing their in-game assets.
Enhanced Security Measures
For games where the players can monetize their assets, ensuring developers can provide security is the key. The good news is that blockchain is known for its enhanced security and transparency.
Programmers take advantage of them, leveraging self-owned identities and advanced security methods to protect game property. This also includes securing players’ data, so they can play in a safe gaming environment.