The State Of Blockchain Gaming

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blockchain and gaming

Blockchain technology is winning. Everywhere it lands, it’s leaving a lasting impact. Speak of logistics, healthcare, finances, and digital identity industries. They are not the same as before. And now, everyone wants a piece of the blockchain.

Any industry would want to have ties to a technology that encourages transparency and improve efficiency and convenience. Today, the blockchain technology is on every investor’s radar at the moment.

Blockchain And Gaming

One industry, particularly involved is gaming. Just as blockchain is, the gaming industry is transforming on its own. And what do you make of two dynamic and mutual beneficial industries? There is no limit to what the two can achieve.

Gaming by itself is enormous. Research by Newzoo in 2018 says that the gaming market’s value stands at $135 billion. To get a sense of these stats, check on YouTube. Game review channels are among the most visited. Fortnite, a survival game by epic games has over 200 million players and leads in the most popular games.

Now, the success of blockchain has not in any way undermined that of video games or vice versa. There have been wild stories behind the emergence of the blockchain. Many of which don’t appease to the gaming community. But what gamers need to know is that blockchain is here to help. And in so many ways.

Blockchain For The Best Interest Of Gamers

First of all, did you know that the average online gamer is more likely to be hacked than the average internet users? Along with crypto exchange users, online gamers are at more risk of being hacked. That’s because gaming is popular and users invest a lot in online profiles. That makes hacking and account stealing prevalent.

And why do they steal your account? So they can sell it to users who value accumulated gaming assets. And guess what the most practical solution to the problem is? You are right;Blockchain technology.

Despite its controversies, it does offer advanced security for your gaming accounts and assets. It provides unique digital assets that are harder to steal or duplicate.

Games Based On Blockchain

Besides blockchain being applied externally to existing industries as the case with gaming, there are games created based on the blockchain. Cryptokitties is one of the games. It’s developed on the Ethereum network. The game became popular, but scalability became an issue, not just for the game, but also for the network.

The game created delays on the network and issues with transactions not being executed properly. In simple terms, the project couldn’t handle the volumes.

However, this hasn’t stopped new projects from attempting to solve the scalability issues. EOS and Tron have tried cracking the same and in the process, have opened up opportunities for dApp game developers.

Decentralized gaming development has fast-tracked blockchain-gaming amalgamation. Here are a few investors who have made big bets on blockchain gaming.

BGA

The Ripple investment department has partnered with Forte, who in their own right continue to advocate the integration of blockchain into gaming.

Forte foresees the XRP foundation and will provide necessary support for the incorporation of ripple blockchain service to games.

Mangrove Capital Investment

Mangrove capital is one example of a venture capital fund that has also gone hard on blockchain games. It has invested $5 million on DreamTeam, an e-Sport platform.

The gaming industry is not about to slow down any soon. On the contrary, the incorporation of blockchain just accelerated it further.

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