Blockchain technology has revolutionized many industries, bringing a new and effective platform for money exchange, data storage, and communication. The blockchain’s decentralization enables transparency and security, which is a key factor in gaming. The advancement in blockchain technology and the adoption of NFTs has paved the way for a new form of gaming, Blockchain gaming, where players can convert their in-game assets to real-time value. The ability to play games without relying on a central entity and the potential for gaining valuable assets that have worth outside the gaming world makes blockchain games different from traditional games and is the main reason for the increasing number of players on such platforms. In this article, we’ll get you to know what are blockchain games, their key features, how they work, their limitations, and more.
Understanding Blockchain Games
Blockchain games are video games that integrate blockchain technology and utilize smart contracts to provide players with complete control over their game and game assets. These games are not monitored by a central authority, instead, they are controlled and governed by the members of a decentralized autonomous organization (DAO). Players can participate in the games and collect in-game rewards, which can be traded within the platform or outside the platform, giving players an opportunity to earn while playing their favorite games. These games store player information on a central server and NFT and other in-game rewards in the decentralized distributed ledger.
This games are similar to traditional video games but they utilize the advantage of blockchain technology to boost the player’s gaming experience and earn valuable assets. Let’s analyze some of the factors that are included in blockchain games that make it different from traditional video games.
1. Decentralization
Blockchain networks are decentralized, which means they are not controlled by a central entity. The gaming platforms are controlled and monitored by DAO, and all the participants get equal rights on the platform.
2. Complete Ownership
These are decentralized, hence the players get complete control over their game assets. They can buy, sell, or trade game collectibles outside the gaming platform if they want.
3. Interoperability
Players can transfer their in-game assets to different blockchains, allowing them to use the same assets on different platforms, increasing opportunity and flexibility.
4. Earning Opportunity
Playing blockchain games enables players to earn game collectibles, crypto rewards, NFTs, and more that have value in the real world. By selling and trading these items players can make passive income.
How Blockchain is Utilized in Gaming?
The use cases of blockchain technology are effectively utilized in blockchain games opening a new gateway for the gaming industry.
- NFTs: Non-fungible tokens are digital representations of unique assets in a blockchain. It offer players with NFTs, which can be traded in and outside the gaming platform. Players get complete ownership over their NFTs and can gain real-time financial value by selling them.
- Play-to-Earn: The play-to-earn model enables players to earn rewards by playing the game of their choice. The higher one plays, the higher the game collectibles they earn, which increases their in-game assets as well as their profits from the game.
- Gaming Economy Model: By utilizing blockchain technology, developers generate fungible tokens that have real-time value. These tokens act as in-game currency which is essential for buying in-game items, and other collectibles. The in-game currencies can be brought from crypto exchanges and other trading platforms, creating a new gaming economy.
Some Popular Blockchain Games
- The Sandbox
- Gala Games
- Virtual Protocol
- Axie Infinity
- Wreck League
What are the Limitations of Blockchain Games?
Till now, we have seen the bright side of this games, but it doesn’t mean that there is no dark side for them. As every coin has two sides, It also have advantages and limitations. Major limitations include,
1. Entry Barrier
Unlike traditional games, accessing blockchain games is not easy, players have to purchase in-game currencies to access in-game items and collectibles, which makes gaming expensive.
2. Frauds and Scams
Though blockchain games are protected by robust security features, the involvement of crypto and NFTs increases the risk of fraud and scams in the platform.
3. Lack of Features
Blockchain games lack the technical features that traditional games hold. With changing technologies, the platform will achieve more sophisticated features, however, as of now blockchain platform lacks advanced technical features.
Final Thoughts
These are still evolving and there is more to go. These platforms provide players with an alluring opportunity to earn valuable in-game assets with real-life value. However, this games don’t offer a similar user experience and speed as that of traditional video games. The need to have a basic knowledge of blockchain and web3 platforms hinders the wide use of this games. Choose reliable and trusted blockchain games to keep yourself safe from scams and frauds linked with blockchains.
