All of us have played Video games in the past, and some of us like me still continue to do so!

A video game is a one-of-a-kind experience that is far more immersive than reading a book or watching a movie. It opens up a completely new world for you, a world with limitless possibilities and joys!

A true escape from the boring real world.

But even video games had their humble beginnings, from Mario where the aim to get to the princess in the castle, or Pac-Man where the only aim is to avoid being eaten.

The games of now although, are far more layered, emotional, and immersive.

I mean Uncharted 4 is almost like a summer blockbuster movie. Or last of us will make you feel the deepest of emotions.

The single-player, story-driven video games are still a niche in today’s time, but the vast multiplayer experiences like PUBG or Battlefield games are the mainstay of the decade.

The majority of these games are streamed online, and players employ virtual assets to fulfill specific goals and prove their dominance. Gaming is gradually gaining traction as a global sport.

As of 2022, the industry is worth more than $300 billion!

The use of blockchain has only exploded in recent years and it’s only a myth that blockchain is useful in creating just cryptocurrencies.

Its reach and applications are far more than assumed. Blockchain is slowly touching and revolutionizing every industry and the gaming industry is no exception.

blockchain technology will change the way games are created, managed, and played in the future.

Blockchain in gaming

A blockchain is essentially a chain of data blocks on a computer network that is visible to all users and anybody else. It can’t be changed or moved.

This preserves a complete record of everything that has happened on the network in connection to the data.

The system is decentralized, which means that the game is not owned and governed by a single entity, but rather by users who own digital assets and game objects.

The players would hold a certain type of digital asset called NFTs on a gaming blockchain, just as you hold bitcoins on a cryptocurrency blockchain.

These will be game objects that you will be in possession of and they will only be yours till you want them.

NFTs in gaming

To understand how blockchain technology is affecting gaming, it’s important to understand the term NFTs.

NFTs are one-of-a-kind, unforgeable, and may be transmitted to a wallet address much like currencies.

An NFTs in the context of gaming could be anything, a sword, a shield, a character mask, a house, etc. Any digital asset that is within the game, you can own and it is yours only.

There’s also the issue of scarcity with blockchain technology, which implies that only a limited number of these things are available.

In any RPG game, there are items that are common, uncommon, rare, and legendary.

Now if there are only 35 legendary items then that is all there will be.

Even if these 35 items are identical, each one is distinct in its own way since it might include the entire history of how that item has been used.

It might be owned by the game’s finest player, and this knowledge will always remain with the item, even if it is purchased by someone else.

But what if the game you’re playing suddenly stops working? What’s more, guess what? Your item, on the other hand, will not! Because it can be transferred from one blockchain to another in the metaverse.

It is still yours to keep and possibly utilize in a new game. It is possible to keep it in your cryptocurrency wallet. This is the charm of NFTs!

My Newsletter

Sign Up For Updates & Newsletters