How Is Blockchain Changing Traditional Gaming?

Players are now rewarded for their participation in the games ecosystem.

But weren’t players always rewarded for their time?

Not monetarily.

Traditionally, players have dumped thousands of dollars into games and received cosmetic items. These items have no way to be resold on an open market and possess no real benefit other than visual and potential in-game advantages. When the next game comes out, gamers go repeat the same process and leave their assets from the previous game behind.

But blockchain gaming is changing this all. Through NFT ownership, providing true in-game ecosystems, and provable fairness, blockchain gaming is going to revolutionize the way we play video games.

NFTs Create Real Digital Ownership

The video game industry sees hundreds of billions of dollars yearly in revenue, largely in part to microtransactions. NFTs are looking to disrupt this in the gaming industry. Players no longer have to dump hundreds of dollars into items only linked to their accounts. Instead, these items go into a non-custodial wallet for players to import into games.

What does this mean for players?

It means that you can buy items on the open market and use them for the duration of the time that you are playing the game. After they either finish the game or find another that interests them, they can sell their items on the open market for real value. No longer are your assets locked into the game you buy them in. You can exit at any point and at least extract a little value that you put in. If you’re lucky, did your research, or are good at the game, you could potentially leave with more value than you put in.

Take the Biggest P2E Game, Axie Infinity, for Example

What can an Axie Infinity player do to make money in-game?

Axie Infinity players collect NFT pets which they can then breed to produce new ones. These new NFTs may have better properties or may be a rarer type. Players can sell them on the open market or use them to battle in tournaments for $SLP and $AXS. All of which players sell on any major exchange.

That’s only a glimpse into the value-generating opportunities available in Axie Infinity.

Provable Fairness in Video Games

Additionally, the blockchain also finally provides provable fairness in video games. Since everything is run on the blockchain, anyone can vet what the devs promise. For example, if the devs announce 100 exotic NFTs are being released, the community can be sure that this is true because it can be vetted on-chain.

Players can be sure what the devs say is what is actually happening in these games. It’s usually all open-source, meaning anyone can go in and vet the odds and economics of the video game. This creates the fairest games for the community and allows people to actually know what they are playing and putting their money into.

Do some research into games that interest you. Investing early in blockchain gaming will only be beneficial in the long term!

Something to consider: Remember always to do your research, make your own decisions, and invest in projects that interest you!

Follow our new Altcoin Buzz Public NFT Wallet to keep an eye on collections we’re buying, selling, and holding! Use this as a jumping-off point for your research.

Join us on Telegram to receive free trading signals.

For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.



Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.