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Can Blockchain Fully Decentralize The Gaming Industry?

by pallav01
Blockchain

Gone are the days of humble Super Mario on a 16-bit gaming console. The gaming industry has now progressed into an immersive virtual reality experience. To begin with, the characters no longer perish like Mario. Instead, they have evolved over time and now formed personalities. Also, now real-life situations define a majority of modern games.

However, blockchain expert have not yet fully unlocked the potential of the combination of gaming and blockchain. Although the  applications of blockchain technology have increased by tenfold; we are still working on its use, particularly in the gaming industry. 

Nevertheless, as more IT students enroll in blockchain classes, our technology continues to develop. We can surely expect some extraordinary changes in this industry. But, the most significant change might be in the form of decentralization!

Table of Contents

  • The Gaming Industry before Blockchain
  • The Gaming Industry post Blockchain
  • Decentralization and Gaming – How is it Possible?
  • Impact of Blockchain on the Gaming Industry
  • Conclusion

The Gaming Industry before Blockchain

Before blockchain took over, players indulged in console gaming at their homes with no interaction with other players. At most, they could only enjoy the company of people in their geographical neighborhood. Additionally, they were not in control of the games they played. In fact, the game publishers commanded their choices, by deciding which games to publish and how much the players would have to pay for them. In brief, the entire mechanism was highly centralized. 

The Gaming Industry post Blockchain

Blockchain technology has re-structured the gaming industry. The creation of decentralized application platforms has been a definitive game-changer. Blockchain experts have managed to develop new genres of games — for instance, Massively Multiplayer Online Role-Playing Games (MMORPGs) and First Person Shooters (FPSs).

Most importantly, the control and power now rest in the hands of gamers. It has been possible due to the development of decentralized games. Besides exploring different virtual reality worlds, gamers can now purchase and sell game items without passing the central authorities. Moreover, they can even use cryptocurrencies to make these trades.

Further, many gamers are developing their own games as well. It is a profitable investment as the sector will undoubtedly grow. You can also learn blockchain online to design your own virtual world.

Decentralization and Gaming – How is it Possible?

Decentralization of the gaming industry would entail that the games are not owned and directed by the central authorities, but by the gamers and users. However, the players must possess the digital assets of the game. As it will give them more power and control, decentralization of the gaming industry is probably the dream of every enthusiast. Blockchain experts have made this possible by using blockchain technology.

In simple words, a blockchain is a string of data blocks that are situated on a computer network. In addition to being transparent to all its users, it is not possible to alter or relocate a blockchain. Hence, the complete record of every activity is safe and preserved.

Cryptocurrency investors own crypto coins like Bitcoin, Litecoin, and/or others. Similarly, gamers in a decentralized gaming application with its own digital assets in the form of NFTs, for example, a sword, a shield, a bow, or any gear of that particular game. Not only these digital game objects are transferable to wallets, but you can also pass them outside the game.

Every item may seem identical, but it is unique as it carries the history of its usage. Additionally, this knowledge would remain intact in the item’s blockchain data, if sold to another player.

Impact of Blockchain in the Gaming Industry

Blockchain professionals unilaterally agree that cryptocurrency and gaming can mutually benefit from each other. Due to its liquidity, it is extremely easy to incorporate block-chain into gaming. Moreover, gamers are familiar with the concept of tokens, and they can purchase the game items with real and virtual money. Thus, block-chain is the most efficient way to monitor and record transactions. 

Here are a few other examples of how block-chain is advantageous for the gaming industry:

  • Better transparency –

Block-chain has improved transparency by enhancing the interaction between players and game developers. Since the contracts are unchangeable and blockchain-based, the business has become fairer. 

  • Increased security – 

Block-chain is known for its safe encryption technologies. The decentralized system of block-chain has no servers. Therefore, hackers cannot breach or destroy the data. Further, game developers and players enjoy a secure environment in which the industry can further flourish.

  • Improved payment methods – 

Gamers can confidentially buy crypto tokens and use them for trading in-game items. Transactions are safe if the players use their private keys. However, it is best to avoid risky websites and back up your data regularly.

  • Improved game development – 

Players are joining blockchain classes to understand the working of block-chain in the gaming industry. Also, gamers and developers can openly communicate and collectively come up with better ideas. Gamers can also access peer-to-peer platforms and contribute directly to game development. Consequently, blockchain experts and developers will enhance the game if the community agrees with the changes.

  • Cost reduction – 

Gaming businesses can save a ton of money by involving block-chain technology in their methods. Intermediaries play no role since the procedures in a decentralized, blockchain-driven gaming application is automatic.

Conclusion

The rise of block-chain has resulted in a smoother and more enjoyable gaming experience. Additionally, game developers and publishers are now closer to their target audience. Blockchain experts conclude that the development of games with block-chain will ultimately result in less fraud and more transparency.

So, to answer our question, can block-chain cause complete decentralization of the gaming industry? Yes, block-chain has the potential to ultimately eliminate the problems of the centralized gaming industry. Moreover, metaverse and decentraland will have an undeniable impact on the industry.

Although the golden days of decentralized games are close, the sector is developing and would require more time. Video game devotees who are interested in technology, can learn blockchain online and contribute to designing games. You can also join blockchain classes on any reputed platform.

You can visit BLOCKCHAIN COUNCIL to learn more about every blockchain-related topic.

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