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Blockchain-based video games a potential disruptor in video game space

On 11/02/2022 by

The popularity of video games has grown exponentially in recent years, with more and more people of all ages playing them on a variety of platforms. The global video game market was valued at $134.9 billion in 2018 and is expected to reach $196.0 billion by 2025.

With the rise of blockchain technology, a new type of video game has emerged that is based on this distributed ledger system. Blockchain-based games are still in their infancy, but they have the potential to disrupt the existing video game industry.

What are blockchain-based video games?

Blockchain-based video games are a new type of game that uses blockchain technology to power its game mechanics. In a traditional video game, the game’s rules and assets are stored on a central server. This means that the game developer has complete control over the game and can make changes to it at any time.

With a blockchain-based game, the game’s rules and assets are stored on a decentralized network of computers. This gives players more control over the game and makes it impossible for the developers to make changes to the game without the consent of the players.

Benefits of blockchain-based video games

In a traditional video game, the game developer owns all of the in-game assets. This means that players can only access and use these assets while they have an active account with the game developer. If the game developer decides to shut down the game, or if the player’s account is suspended or banned, the player will lose all of their in-game assets.

With a blockchain-based game, players own their in-game assets. This means that they can take their assets with them if they stop playing the game or if their account is suspended. Players can also trade their assets with other players without needing the permission of the game developer. This gives players more control over their in-game experiences and provides them with more options for what to do with their assets.

Blockchain-based games also have the potential to create new kinds of in-game economies. In a traditional game, the game developer typically controls the supply of in-game currency and items. This can lead to inflation and other economic problems. With a blockchain-based game, the supply of in-game assets is set by the code of the game. This means that the game developer can’t manipulate the economy for their own benefit or to the detriment of players.

Blockchain-based games have the potential to change the way we think about video games. They offer players more control over their in-game assets and provide a more transparent and fair economic system. What’s more, blockchain-based games have the potential to create entirely new kinds of gameplay experiences. We’re just beginning to scratch the surface of what’s possible with this new technology.

The potential of blockchain-based games

Blockchain-based games have the potential to change the way we think about gaming. They could provide a more secure and transparent way to play games, as well as a new way to earn rewards. In addition, they could help reduce fraudulent activity in the gaming industry.

There are already a number of blockchain-based games on the market, and many more are in development. Some of the most popular blockchain-based games include CryptoKitties, Spells of Genesis, and Decentraland.

CryptoKitties is a game that allows players to breed, trade, and collect digital cats. SpellsofGenesis is a trading card game that uses blockchain technology to create a more secure and transparent gaming experience. Decentraland is a virtual world where players can own land, build houses, and play games.

Blockchain-based games are still in their early stages, but they have the potential to change the gaming industry. If you’re looking for a new way to play games, or if you’re interested in investing in the future of gaming, then you should check out some of the blockchain-based games that are currently available.

Conclusion

Blockchain is a new and exciting technology that is changing the way we interact with the digital world. Blockchain-based games are just one of the many ways that this technology is being used to create new and innovative experiences. If you’re interested in exploring the world of blockchain-based gaming, then you should check out some of the games that are currently available. With so much potential, it’s only a matter of time before blockchain-based games become mainstream. So, don’t wait – get in on the action now!