Blockchain in Gaming Industry Published by : isabellaaria11

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👉🏼 Over the past few years, Cryptocurrencies have widely used in the Gaming Industry. The game developers and players encounter fraudulent activities and problems in the transaction. So, to solve these issues, blockchain-based gaming came into existence

ver the past few years, cryptocurrencies have widely used in different sectors, and one of these sectors constitutes the gaming industry. The game developers integrate cryptocurrencies in their product, and that drives many gamers to adopt it.

The game developers and players encounter fraudulent activities and some problems in the transaction, so to solve these issues, Blockchain-based gaming came into existence.

Blockchain-based gaming offers benefits like streamline payments, decentralization of payments, the real ownership of the players, and safe product trading and cross-game compatibility.

 

⚡️What made the Gaming Industry overgrow in the Global sector

◼️ Game developers needed a secure environment to build and launch games and subsequently make money out of it.

◼️ The players are interested in buying and selling in-game assets in a secure manner, and hence they need a safe platform.

◼️ The players are allowed to create their own profiles and play many games. The players prefer that their profile needs to be inoperable across the gaming industry, and hence blockchain can help in this area.

◼️ The players tend to spend more real money on virtual games. If they are offline, the players should save their virtual assets securely by storing them in a decentralized manner.

◼️ In a traditional gaming method, if a gamer buys any of the in-game assets, the gaming company owns them, not the player. So to address this issue, blockchain made a significant impact.

How Gamers resell their in-game purchase and make money out of it

🎮 Clearly, online gamers purchase many in-game assets like swords, guns, and other add on features. The players tend to buy these in-game assets, and after a period of time, they become a non-transferable investment that locked into their gaming world.

🎮 So to overcome this company like Polyient Games, An investment company that wants to make online gaming to be fairer for players by funding gaming startups that incorporate blockchain technology.

The company’s main idea is to allow players to keep those in-game purchases or migrate them to use it in another game without having to repurchase them.

🎮 Another beneficial idea is some in-game assets cost thousands of dollar-based on scarcity, so through blockchain technology, the player can sell their assets like swords or guns in the open market for fiat currencies.

🎮 In blocking, the in-game assets are represented as non-fungible tokens ( NFT). The NFT is a unique asset that can be tracked using blockchain.

🎮 The Polyient Games mainly focus on NFTs and trying to add more value to it by improving the infrastructure and application layer.

🎮 If a gamer earns an in-game asset like a sword and others, the gamer can sell them to earn real-world money. The main concept behind this is play to earn not pay to play.Conclusion:

It is clear that blockchain technology is incredibly useful in the gaming industry. The global gaming sector was said to have reached a global revenue of 200 billion in 2025. Meanwhile, the game developer and the owner should consider carefully among the different monetization models and choose the best that fits with their business model.

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