The gaming industry is constantly changing and evolving following the latest world trends. Games have become quite realistic and interesting to play, so it’s no wonder why so many people spend a few hours a day playing one game or another. Research in 2018 showed that almost 211 million people across the US play video games on a device. Another study also showed that gamers spend an average of 12 hours each week playing video games. This results in huge revenue streams for game designers but does little other than offer entertainment for the players. This is where blockchain technology comes into place. Below is a list of gamer numbers across the world.
| Region | Gamer numbers |
| Asia | 1.48 Billion |
| Europe | 715 million |
| Latin America | 420 million |
| North America | 285 million |
| Mena | 168 million |
| Africa | 144 million |
| Oceania | 32 million |
Blockchain Games
Cryptocurrencies have become a hot commodity since their inception, but gamers were among the first to use them and recognize their potential. Gamers were already used to virtual currencies, as they used them in games to make purchases or trade with other gamers. On the other hand players at online casinos embraced the technology and used crypto to play their favorite games such as video slots and American roulette table games. So it was only a matter of time before blockchain technology would enter the gaming market.
There are a number of benefits that blockchain brings to games. One of the most notable ones is ownership of virtual items. Every gamer with tell you that the worst thing about regular games today is the fact that you don’t actually own your in-game items. This is not the case with blockchain technology. Here players have full ownership of the items they have and they can exchange these items with other gamers. On some platforms, you can even exchange items across different games.
This has a beneficial effect on the players. They can spend more time playing the game and earn items which they can later sell for real money. This way instead of just playing the game for fun they can be productive at the same time.
Another crucial factor in blockchain games is security. These games are highly secure making it virtually impossible for duplicate items to be created and accounts to get hacked. In some games in the past, this was a major issue as hackers would easily gain access to players’ accounts and steal their items.
Blockchain games are also known to be very generous towards their players for simply doing everyday tasks. You can earn tokens for playing the game, leveling up or even sharing game posts across social media. The technology makes it easy to trace all of this, so the player is rewarded based on his activity.
A great business detail in blockchain games is the creation of limited items. The company can decide to create a rare item, which can reach very high prices due to its scarcity. A perfect example of this is Genesis Cat by Crypto Kitties, which reached a staggering price of $115,000. Some other examples of NFTs selling for staggering prices are:
- Angel from Axie Infinity sold for 300ETH
- Dragon by Cryptokitties sold for 600ETH
- VOXIE #7893 sold for 80ETH
- Hyperion by Gods Unchained slot for 137ETH
Setbacks in blockchain games
There are currently many hurdles blockchain games have to go over before they can be a part of the main trends in the gaming world. The main problem is getting enough players on the platform for the game to be sustainable in the long run. Many blockchain games faced this problem after launching and were quickly forgotten. But as the crypto craze continues to rise blockchain games are sure to get a bigger audience and eventually become sustainable for players.
The younger generations are more open to virtual currencies and trying out new games. So as they come of age, there is a good chance they will fuel the games. For now, things in the blockchain games industry are running slow but steady. It remains to see what the future brings and whether these games will get the necessary support to become the latest trend.
