When people think about the blockchain they usually think about tokens and smart contracts, but there are so many other possibilities for the blockchain that haven’t been explored yet. The blockchain is nothing but a decentralized database at the end of the day and can be used to store any kind of information. It can also be used to run complex applications. And it is set to have a profound impact on the world of gaming through blockchain gaming. Let’s take a closer look at what blockchain gaming is actually and how it’s going to change the world of gaming as we know it.
What is Blockchain Gaming, Exactly?
Simply put, blockchain gaming refers to games that either run on a blockchain or use the blockchain to store data. The blockchain can be used to record things like stats for players or in-game purchases but can also be used to denote ownership of assets in games or even game elements. This is when things start getting interesting.
In a regular game, the assets you own pretty much remain the developers’ property and unless they have a system that allows you to sell items, they are useless to you outside of the game. But with blockchain games, it’s not uncommon to be able to buy and sell items on an open marketplace and make money that way.
Another interesting thing about blockchain gaming is the ability to move assets from one game to another. For example, if you play an adventure game and earn XP points and want to use them for another similar game on the same blockchain or even another one if the game has cross-blockchain capability, then you could carry those points over to the other game and accelerate your process.
Blockchain Gaming and NFTs
NFTs are what allow players to buy and sell items over an NFT marketplace. The non-fungibility of NFTs allows people to prove ownership of the items and the integrity of the blockchain over which they are transacted will ensure that the same items aren’t sold twice or replicated. This gives players opportunities to earn money from their assets and make sure that whatever they’re buying is unique.
We can expect more of these marketplaces to start popping up as blockchain gaming becomes more popular.
Blockchain Gaming Allows Players to Earn Money in Multiple Ways
Another interesting thing about blockchain gaming is all the monetization opportunities. You can not only earn money from NFT sales, but many of those games will allow you to make money from playing, reaching certain benchmarks, or even watching games.
Some games like Axie Infinity, for instance, will allow you to earn SLP, or Smooth Love Potion, by completing daily tasks. You can then trade those SLPs on cryptocurrency marketplaces like Binance and turn them into real hard cash.
Blockchain gaming is very promising, and we could see mainstream manufacturers and developers entering the space as well. This could force a major shift in the gaming industry and transform the way gaming companies develop, distribute, sell, and monetize their games.
