Crypto Gaming and NFT Gaming: They Are Booming The Gaming Industry?

There used to be a time when we simply played different games which included the death of characters in case of failure to reach a definite goal or characters robotically entrusted to do a definite something but the scenario today is a changed one. Gaming has become more personal and characters are more emotionally attached and consist of real-life dynamics. A gamer can personalize the character and choose the gaming accessories in personalized form. The games have become undoubtedly close to real life but with passing time there are noticeable problems arising in the case of users and game developers. 

Personalizing characters involves the rising of a market. The newly formed market needs to have transparency which is lacking because of the one-sided ownership of the economy by the developers. The advent of blockchain in the gaming market has solved the problem to quite some extent. Blockchain has provided a trustless market environment providing unchangeable transactions between strangers across the world.

NFT in Gaming

NFT is a boon in the gaming industry. The online game community previously feared the loss of their gaming account or money but with the introduction of NFT in gaming, players can own and control the game and also retain the initial value of items. NFT workings depend upon a secure ledger of Blockchain to secure digital items. The recent developments in games via NFT enable players to create and own NFT avatars and transfer them in case the game gets destroyed somehow. The non-fungibility aspect makes it equivalent to a certificate of authenticity. NFTs are indivisible and the purchase and selling of NFTs happen as a whole, not in fragments. One can usually depend on NFT development services to launch their own NFT marketplace, games, tokens, etc.

The necessity of Blockchain in Gaming

Blockchain has ushered high hopes in the gaming industry, let’s take a quick look at the benefits:

• Modern games need various props like art, character, guns, ambiance, etc which can be purchased with real world money but the transparency of transactions seemed a problem so far. With the development of Blockchain, there is an increase in the trust factor. Blockchain allows tokenization of gaming assets and sets a fair price for all. There is the web wallet called ‘My Ether Wallet’ and hardware wallet like Ledger Nano S.
• The assets issued on a Blockchain give a clear idea of the scarcity. Block ledger enables one player to verify the total quantity and act accordingly.
• Assets in the most valuable gaming account are also liable to get stolen but Blockchain assures the safety of digital gaming assets because in this case there is no server to destroy. ‘Proof of Work’ looks after the security.
• Blockchain stores via NFT as well making assets easy to sell and purchase on an open market.
• The Decentralized exchange makes the process transparent and smooth and resists exposure to scammers.
• Blockchain reduces the time of transactions across the globe. Instant payments happen without restrictions.
• With the unique public address that Blockchain provides, players can easily transfer their address from one game to another.
• The digital collectibles of the game get easily stored in crypto wallets and Enjin wallet helps particularly in this matter.
• Collaboration between the Developer and the Player has become easy.

Disadvantages of Blockchain gaming

The transfer cost takes a huge toll on gamers’ earning and a large portion of it gets invested there. Also, there is a large expense behind maintaining rewards for network handlers. Apart from these, one faces problems regarding the user interface.  The blockchain gaming experience is not smooth for all and then there is existing code complexity as well. The money transfers involving foreign banks through NFTs are often considered as one source of crime. The prime issue regarding Blockchain is that out of the three options Blockchain provides- Decentralization, Security, and Scalability, one cannot enjoy these all three aspects together; the choice always circles around any two. Blockchain is often unable to cope with transaction load. The speed is another issue that Blockchain needs to work upon.

Future of Blockchain in gaming

Games today are rapidly getting developed and created on Blockchain technology. It is expected that the worldwide popularity of Blockchain will attract more and more developers to integrate Blockchain within the system to create a sustainable environment for gamers. Blockchain promises to open new frontiers before players where one can explore digital assets using a single universal gaming currency. Blockchain has surely enabled one to take a giant leap from virtual currencies to ownable digital assets.

The amalgamation of Blockchain and gaming hold great potential. Coming together with these two industries is a blessing for the economy. Blockchain has to deal with certain issues hindering the path before diving deep into its full potential. There is still room for improvement and Blockchain gaming is expected to shine brighter in the near future.

with the growing popularity, Non-fungible token companies are also focusing on NFT gaming and it can be hoped that gaming industries will utilize the assets in the best possible way.