What Is Blockchain ​​Gaming?

No matter how you feel about blockchain and everything related to it, games using blockchain technology are a reality that contributes to the global gaming industry. And if you are planning to register a company for crypto activities and use it to create games or just looking for ideas to create a crypto business in Europe, America, or Asia, this article is for you.

Here we will look at how blockchain is used in the gaming industry. But already now, looking ahead, we can say with confidence that although they are popular, blockchain games still need to be mainstream due to the low spread of technology. To find out more, read on.

Also Read: How to install Minecraft on Ubuntu

General information

The use of blockchain technology in games consists of its operation to maintain the operation of the in-game payment system - the use of virtual currencies based on the blockchain protocol (Bitcoin or Ethereum, for example) to pay for in-game items, various property, equipment, etc.

From a practical point of view, all this is similar to using a regular bank card; however, today, games are starting to be built on blockchain protocols.

Blockchain game development technology is used to create games because it is suitable for creating, recording, verifying, and monitoring transactions. In-game inventory is a token with its hash inside the blockchain. The nature of the technology makes the entire inventory scarce and unique and, accordingly, adds excitement and involvement to the player.

Examples of games using blockchain

The most striking example is Cryptokitties, a game where you have to buy, sell and breed virtual cats. No matter how it looks at first glance, take your time concluding - the cost of some copies of cats reaches 200 thousand dollars, but in general, the game has collected the equivalent of millions of dollars.

There are also more familiar games, like football management or sports car racing. And although the games themselves seem traditional, participants often compete for prizes in the form of cryptocurrency, which creates food for thought about the background of gambling.

Prospects for the use of blockchain technology in games

As regulators are aware of the impact of gambling on similar elements in the market, they will likely begin to look at blockchain games. And while game developers are prudently structuring their products to avoid gambling laws, for blockchain games to become truly popular, digital wallets and cryptocurrencies need to be more widely adopted by gamers.

Conclusion

In general, game developers can now take a strategic position in a niche and develop their products as the industry develops and increase their influence in the market. However, it must be understood that the project will likely be long-term and require significant investment.

Suppose you need to learn more about the use of blockchain technology in game development and the potential of using the technology in existing projects. In that case, p2e game development specialists are ready to provide you with consulting services. And also offer support at any stage of obtaining a license for cryptocurrencies and gambling or registering a crypto company in Switzerland, the UK, the USA, and other countries.