Blockchain Gaming’s Empowerment to Virtual Worlds and Its Advantages

Blockchain technology has entered the gaming industry, revolutionising how players engage with games and virtual worlds. Blockchain games, powered by decentralised technology, offer users the ability to own in-game assets, trade them with other players, and even earn cryptocurrency by completing game challenges. 

This article explores how blockchain gaming shapes the metaverse, a virtual universe where players interact in a 3D environment. It highlights the features of the metaverse that affect gamers and discusses the advantages of blockchain technology in the gaming industry. Additionally, real-world examples of blockchain adoption in gaming are provided.

Also read: Crypto for Financial Inclusion

What Are Virtual Blockchain Worlds?

Virtual blockchain worlds (VBWs), often called the Metaverse, are social platforms made up of virtual land parcels owned by players, companies, and investors. Unlike traditional virtual worlds or games, where companies own everything and control the rules, VBWs empower players with ownership rights and creative freedom. 

Users can buy or rent land in VBWs and build various experiences like museums, casinos, art galleries, and more. Blockchain technology ensures the security and transparency of transactions within VBWs, creating a new paradigm of digital asset ownership.

How Do Blockchain Games Manifest Metaverse?

The metaverse, a virtual universe existing in digital space, is being shaped by blockchain games. These games allow players to own their in-game assets, which can be utilised across multiple games and platforms, including the metaverse. 

Players can collect assets from various blockchain games, such as weapons, armour, and virtual real estate, and use or sell them on other platforms. Blockchain games introduce a sense of ownership and value among gamers, expanding cryptocurrency trade and the metaverse.

5 Advantages of Blockchain in Gaming

Blockchain technology has introduced several advantages to the gaming industry, including:

#1. True Ownership

One of the key benefits of blockchain in gaming is the concept of true ownership. In traditional games, players do not have real ownership of in-game assets. However, blockchain games provide players with ownership rights by storing their assets on the blockchain. This allows players to transfer, sell, or trade their assets.

#2. Interoperability

Blockchain technology enables interoperability among different games and platforms. Assets created on the blockchain can be used in multiple games, creating a shared gaming economy. This means players can use their assets across different games and platforms, enhancing their gaming experiences.

#3. Scarcity and Value

With blockchain technology, game developers can create limited and unique in-game assets. The scarcity of these assets increases their value as players compete to acquire rare items or complete specific challenges. The concept of scarcity drives player engagement and adds a layer of excitement to the gaming experience.

#4. Decentralised Economy

Blockchain-powered games create a decentralised economy where players can earn cryptocurrency by participating in the game or trading their assets with others. This allows players to monetise their gaming skills and efforts, offering new economic opportunities within the gaming ecosystem.

#5. Transparency and Security

Blockchain technology provides transparency and security to gaming transactions. The decentralised nature of the blockchain ensures that all transactions and asset ownership records are tamper-proof and publicly verifiable. This level of transparency and security builds trust among players and developers.

Blockchain Brings Value to Metaverse and Gaming Industry

Integrating blockchain technology into gaming projects brings significant value to developers and players. Let’s explore the advantages of each:

Advantages for Developers:

#1 Increased Monetisation

Blockchain technology allows developers to monetise their games in various ways. They can sell in-game assets, collectables, or virtual land. Additionally, developers can earn revenue from transaction fees or create a marketplace for players to trade assets. This opens up new revenue streams for game developers.

#2 Community Engagement

Blockchain games foster a strong sense of community and player engagement. The ownership and trade of in-game assets create social interactions and economic opportunities within the gaming ecosystem. Players become invested in the game’s community, increasing player retention and loyalty.

#3 Open Development

Blockchain technology enables open development, where developers can create games and virtual worlds that others can expand upon. This collaborative approach can lead to the rapid growth and innovation of the gaming ecosystem. Developers can leverage each other’s work and build upon existing games, creating a vibrant and evolving gaming landscape.

Advantages for Players:

#1 Economic Opportunities

Players can earn real value from their in-game assets and skills. By participating in the gaming economy, they can trade assets, earn cryptocurrency, and potentially generate income from gaming activities. This introduces a new dimension to gaming, where players can turn their passion into a profitable endeavour.

#2 Cross-Platform Portability

Blockchain-powered assets are not limited to a single game or platform. Players can use their assets across different games, platforms, and virtual worlds, enhancing their gaming experiences and options. This flexibility gives players more control over their assets and allows seamless integration between different gaming environments.

#3 Enhanced Security

Blockchain games offer enhanced security compared to traditional games. The decentralised nature of the blockchain ensures that assets and transactions are secure and resistant to hacking or fraud. Players can have peace of mind knowing that robust cryptographic protocols protect their in-game assets.

Predictions on Blockchain Gaming in Virtual Worlds

Blockchain gaming and metaverse adoption are expected to increase significantly in the coming years. Some predictions include the following:

#1. Mainstream Integration

Blockchain gaming will move beyond early adopters and gain broader acceptance among mainstream gamers.

#2. Expanded Virtual Worlds 

The metaverse and virtual worlds will continue to grow and offer diverse experiences. Players will explore various games, social activities, and economic opportunities within these virtual environments.

#3. The Emergence of NFTs 

Non-fungible tokens (NFTs) will play a crucial role in blockchain gaming, allowing for creating and owning unique in-game assets, collectables, and virtual land.

#4. Evolving Gaming Economies

Blockchain technology will transform gaming economies, enabling players to monetise their in-game activities, trade assets freely, and participate in a decentralised gaming ecosystem.

#5. Interoperability Across Platforms 

Blockchain-powered assets will become more interoperable across different gaming platforms, allowing players to use their assets in various games and virtual worlds.

Frequently Asked Questions

Are Blockchain Games Only Playable Using Cryptocurrency?

While blockchain games may involve cryptocurrency for trading assets, completing challenges, or earning rewards, they are not exclusively playable using cryptocurrency. Players can participate in blockchain games using traditional payment methods as well.

Can I Earn Real Money by Playing Blockchain Games?

Yes, in some cases, players can earn real money by playing blockchain games. By trading valuable in-game assets, completing challenges, or participating in the gaming economy, players can accumulate cryptocurrency that can be exchanged for real-world currency.

How Secure Are Blockchain Games?

Blockchain games offer a high level of security due to the decentralised nature of blockchain technology. In-game assets and transactions are stored on the blockchain, making them resistant to tampering, hacking, or fraud. However, players should be cautious and follow best practices to protect their personal information and digital assets.