Blockchain technology and cryptocurrency have been around since 2009, alongside the introduction of Bitcoin. Since then, the cryptocurrency market has exploded, and more people than ever before have invested hard-earned cash in cryptocurrencies. Blockchain and cryptocurrency are affecting all areas of life, including in the world of gaming. Blockchain technology, which makes cryptocurrency so secure, can be used to create decentralized apps (dapps). Many dapp developers have built games that operate on blockchain systems and run off cryptocurrency. These games are typically easy to play and involve completing basic tasks to win small amounts of crypto. Although the area is new, games made on blockchain systems will have a bright future. Throughout this article, we will tell you how the future of blockchain gaming will look.
What is Blockchain Tech?
Blockchain technology refers to a string of computers that all have equal status to each other. Data contained on a blockchain system is simultaneously updated and encrypted. When data is encrypted, it means that the information is unreadable unless a device has an access key. The reason that blockchain tech is appealing comes down to its security and decentralization. If anyone makes an unauthorized change on a blockchain, the change would be caught because it can be viewed by all computers on the chain. Decentralization, another blockchain perk, means that there is no one sitting at the top of the chain looking to profit. Blockchains are run for the public and by the public.
Dapps that run on the blockchain often allocate a paid-for slot, and players will carry out simple activities to earn cryptocurrency. Dapp games are usually not high-tech because of the processing limitations of blockchain tech. That being said, there is a rapidly growing market for crypto games, as we discuss below.
Crypto Casinos
Cryptocurrency and blockchain technology is having a knock-on effect in all areas of gaming, including online casinos. With the growing popularity of cryptocurrency, sites offering popular casino games with bets running on cryptocurrency are quickly growing in number. You can find out everything there is to know about crypto casinos here. These cryptocurrencies offer security, transparency, and privacy to the end-user – which is why they are becoming popular. With these factors, combined with the ever-changing shift of land to online casinos, there is a likely chance that cryptocurrency will be the go-to choice for casino providers.
There isn’t enough evidence to suggest a complete takeover of crypto casinos. Still, there are issues with blockchain casinos. One of the largest is monitoring and verifying casinos by bodies, including the UKGC. These are issues that aren’t present at OnlineCasinos. They only review and recommend 100% verified and UKGC registered casinos, which means your money and identity are safe with OnlineCasinos.
NFTs Enter The Gaming World
NFTs stand for Non-Fungible Tokens, which are forms of digital artwork that have unique code written into them. They are non-fungible because they have no cash value in the real world. However, people pay millions for underwhelming NFTs, so there is clearly a market out there. Recently, NFTs have blended with blockchain gaming to create NFT gaming. Characters, items, and other interactive elements in games are created using NFTs, which prop up the cryptocurrency they are built on.
2021 was an enormous year for NFTs in gaming, with an estimated $2 billion invested. In particular, the NEAR network has openly shared its dedication to funding the creation of NFT games on their system. Further, blockchain game Inite breaks ground with their mental wellbeing game. The idea is that players will be given daily tasks to keep their brains active. The game allows for collaboration between like-minded individuals. The tasks on the game are designed to push user creativity while allowing the opportunity to earn tokens (NFTs). Metaverse games using NFTs like this are set to become huge over the coming years. Although many games are quirky and different, there are quality shooter games designed on the NEAR network using Unreal Engine 5. In the game Battlemon, characters are created using rentable NFTs.
Play-to-Earn Games
Play-to-earn games are one of the largest blockchain game types in existence. Typically, these games will allow players to complete tasks and earn crypto in return. As well as this, players can invest crypto in NFTs and trade them with other players. In 2021, OP Games, which is built on the NEAR network, revolutionized how people are trading, owning, and buying valuable in-game items. Their change means that players can buy assets and own them outside of the OP Games platform. Further, as well as making these changes, OP Games has made allowances for people to co-own the projects they are invested in. Investors in games on the OP Arcade will be able to have a say in the future of the game. OP’s aim is to have an arcade of games 500-strong all running on the NEAR network by the end of 2022.
Social Media Meets Blockchain
Social media games are huge, with millions of players jumping on board the farming crazes on Facebook back in the 2010s. Now, with the increasing expansion of blockchain tech, developers are looking to create massively multiplayer online games through the blockchain system. One of the best examples of this type is Near Lands, which is a pixelated social game that’s a completely open world. Players can make their way through the world, creating items and customizing their characters, which can all be done while communicating with fellow gamers.
Blockchain technology is 13 years old, which makes it relatively young by technology standards. Blockchain has come a long way, and cryptocurrencies are starting to be more accepted in the mainstream. One of the most interesting parts of the blockchain revolution is its impact on the gaming world. NFTs are being made a prime focus for developers on networks including NEAR. Play-to-earn games will always remain popular on the blockchain, with game volume only projected to grow. Finally, social media will collide with open-world multiplayer games as developers create social games on blockchain tech.