How Can Blockchain Change The Gaming Industry
Blockchain can be simply referred to as an advanced ledger system that is open source and unaltered and hence used in multiple applications just like gaming, banking, supply chain ..etc.
With rightful execution, blockchain can be used in gaming and help improve the below points:
1. Integrated Gaming profile
Traditional gaming platforms require users to create their profiles before entering the game, in order to access the game’s assets and features. On the other hand Blockchain, gaming app users can build an only Integrated gaming profile accessed across numerous gaming platforms.
The Integrated gaming profile can be accessed and viewed on numerous gaming platforms, This method will improve the user experience for gamers by making interlinking activities in programs more accessible.
No time will be wasted in creating new profiles over and over again, just connect your wallet and start gaming.
2. Secure Investment In Gaming
All the game-related data like history, funds, rewards, and profile is generally stored on the game owner’s website which can also have permitted access too.
With blockchain, the data is stored privately and inaccessible to unwanted resources. It also has to be noted that the transactions here are open source and so provided trackable data.
3. Decentralized Storage
Since Decentralized storage runs on the Blockchain your game files, game assets, and data are stored on multiple computers called nodes.
Nodes holding your game files cannot read them as it needs the encrypting key to unlock, which only you will have, and thus only you can access them.
4. Resource trading and Rewards
- Trading
Users can trade or exchange their game items (NFTs, Skins, coins) for making a profit or for other resources.
Since the transactions are made on Blockchain, it creates records of the item every time it is traded or exchanged describing the true ownership, hence Players may trade with total confidence, knowing that their assets cannot be stolen or replicated.
- Rewards
In traditional games, players are rewarded with some points every time they complete a quest, those coins will not have any monetary valve outside the game.
Whereas in Blockchain games Players are rewarded with Crypto tokens or NFTs which further can be traded on exchanges for real money or other resources.
5. Community Governance
By using the blockchain model of work, the community can have a collaborative approach in making major decisions on an application or game.
The users, developers, and other resources can join to vote on any improvements or modifications being done.
6. Globalized Payments
Blockchain games use cryptocurrency as a mode of payment, that makes the payments borderless, faster, and simplified.
Users from any corner can join the games, play, and earn without any payment hurdles.
