The Full Guide to Strategic Fundraising with KOLs in the Crypto Space

Why Blockchain-Based Games Are the Future of the Internet

12 min read
Dec 11, 2021

These days, most games are streamed online. That way, payers worldwide can employ virtual assets to satisfy specific goals and make their dominance visible. Moreover, gaming is gaining popularity as a global sport. And, the gaming industry was worth $138 billion in 2019.

On the other hand, Blockchain technology has made significant development in recent years. However, blockchain isn't all about money. Rather, it has plenty of applications as well. And, gaming is one of them. This post explains why Blockchain-based games are the future.

Are Blockchain games the future of the internet?

There is no denying that blockchain provides its users with value when it comes to digital rights. As such, gamers can share items with others. Moreover, they can trade it for a virtual currency in the marketplace. Also, they can utilize the games in a completely different gaming environment.

The best part is that it keeps the gamers interested for a long time because of the cross-game compatibility. Furthermore, the platform allows in-game assets and virtual currency to be used on a variety of games. Additionally, blockchain confirms the legality of the gamers and ensures fair rules are in effect always.

Blockchain
Blockchain

What is the role of NFTs in Blockchain based games?

NFT's can't be forged and can be transferred to a certain wallet address in the same way as currencies. Hence, an NFT in gaming could be a portion, a staff, a shield, or a sword. In short, they could be anything. Such kinds of digital assets could be yours if you own them.

Also, the scarcity that attaches with the blockchain technology can't be ruled out either. It means that only a handful of those products are available. For example, in World of Warcraft, some things are common, legendary, epic, or special. And, certain items are the rarest like the legendary items.

In blockchain-based games, you can see the number of available legendary items in the game. Also, there could be more of these items available after a certain number has been established. These items could be identical and each of them could be distinct in its way. Moreover, it could be owned by someone who is considered the finest player.

And, the item remains with them always, even if someone purchases it later. But what will happen if the game stops working? If it happens, your items won't perish. The items will get transferred from one blockchain to another in the space called metaverse.

You will still own it and can even utilize it on a new game. Also, you can keep it inside your cryptocurrency wallet. This is what you get with NFTs. Also, they are a special type of content that tends to live in the metaverse.

Game
Game

Is it possible to earn from Blockchain gaming?

The implementation of cryptocurrencies used for in-game assets includes the utilization of NFTs. It allows the users to possess unique attributes that they can exchange with other gamers playing the same game or between other platforms. The play-to-earn concept helps generate money from different exchanges in blockchain games.

This is similar to what you can get in genuine economies. Gamers who have a creative inclination can generate and sell collectible items. On the other hand, gamers with the finest experiences can win remarkable rewards for their specific ideas. The potential for play-to-earn is enormous and game developers are just starting.

 Play to earn
Play to earn

Why blockchain gaming is the future?

Because of the liquidity, blockchain-based games are a piece of cake. Blockchain addresses plenty of long-standing challenges that the gaming industry faced until now. And, it is believed that it will create a positive interaction between video games and cryptocurrency. Here are the reasons why blockchain-based games are the future of the internet.

1. It improves the security of the gaming industry

For hackers, it is near impossible to access the data across servers because of the decentralization provided by Blockchain technology. It has an effective data encryption technology in place.

As such, it creates a more secure environment both for the game developers and entrepreneurs. That way, it results in increased productivity as well. Hackers can't knock down a decentralized network because there are no servers that they can damage.

2. Have control over your favorite games

Certain gaming networks like GameFi are built on Blockchain technology. It means that is not mutable as well. Also, it implies that the game programs deployed by the network and the entire series won't change in the future.

Because of this feature, you get to harness some benefits. The system allows you to download and install your favorite video games regardless of the versions you need. Also, you can access them from any location without compromising your gaming experience.

3. Improves the value projection of certain tangible assets

Whenever an exciting video game is developed using Blockchain technology, gamers tend to prioritize intangible collectibles. And, this is evident after the release of the popular game Crypto Kitties on 28th November 2017.

Gamers have invested nearly $6.7 million in the game to improve their gaming experience. Players worldwide are always willing to put a real value on intangible collectibles when developers create an interesting Blockchain game. Combining cryptocurrency with interactive games results in the growth of investments.

Ownership
Ownership

4. Ownerships over in game assets improves a lot

By implementing legislation and transparency to the gaming industry, blockchain technology helps the owner when it comes to having in-game assets. One of the most important characteristics of blockchain-based games is that they allow digital ownership for the players.

That way, the gamers can exchange goods and profit from them. Blockchain-based games utilize smart contracts to take care of all transactions. Smart contracts are irreversible and run on a set of pre-programmed parameters. So, when you launch these games, the assets that are purchased by using smart contracts get transferred to the player's accounts.

Conclusion:

Blockchain-based games are more secure, enjoyable, and provide you with a smooth gaming experience. Because the cryptocurrency gaming industry is still in progress, users can try a lot of games in the future. Blockchain will become the backbone of the gaming industry in years to come.

Tim Haldorsson
CEO
CEO of crypto and Web3 marketing agency Lunar Strategy, involved in the crypto scene since 2017. Provides forward-thinking Web3 marketing insight as a contributor to Cointelegraph, Rolling Stone, Daily Coin, NFT Plazas, and Finance Magnates.
Jack Haldorsson
CMO
CMO at Lunar Strategy. Been in the crypto space since 2017. Jack leverages his know-how of the blockchain ecosystems and strong KOL relationships to execute result-focused strategies that amplify brand storytelling, drive awareness and grow the project sustainably with the help of Influencer relations.
Adam Westerén
Head of Sales
Adam's passion is to create self-sustainable communities in the Web3 world. He enjoys when you create a Web3 community that can grow by itself. This is what he does in his current role as Head of sales.
William Rejström
COO
As a Community Manager at Lunar Strategy, I'm passionate about finding new ways to connect people, add value and build strong community relationships.
Shann Holmberg
COO
As head of growth at Lunar Strategy, I understand the significant shift away from traditional marketing strategies that Web3 projects require.
Nick Ballanutsa
Crypto Content Creator
Crypto Content Creator, Nick is creating engaging Twitter threads & posts for leading crypto & NFT companies.
Vide Haldorsson
Influencer Manager
Influencer Manager at Lunar Strategy.
Johnny Pedro
Head of Partnerships
Head of Partnerships at Lunar Strategy, creating win-win solutions for Web3 companies. You might have heard his music on Tomorrowland from his previous ventures in the music industry.
Jarrod Frankel
Head of Community
Jarrod is responsible for the teams that provide both engaging social media content and enticing and informative articles for our clients.
Tayler McCracken
Editor at Coin Bureau
Tayler McCracken is the Editor-in-Chief of the Coin Bureau, a leading publication that provides cryptocurrency education.
Vineet Nair
Writer
As a web3 storyteller, Vineet brings a wealth of experience in content, journalism, and management, with hands-on knowledge of metaverses, NFTs, AI, and finance.
Hassan Shafiq
Lunar Strategy
Lunar Strategy.
Mairead Finlay
Writer
British writer specialising in NFTs, luxury lifestyle & travel based in Portugal. Previous publications include Business Insider, LoveEXPLORING, The Guardian and My French Country Home Magazine. Previously the SEO Editor of tech & startup website TechRound.
Sandra Vukovic
Content & Marketing Specialist
Content & Marketing Specialist at Lunar Strategy.
David Kevin Jeppesen
Lunar Strategy
Raised in the spring of technology, solving problems and finding simple digital solutions is part of my nature. I’m a teachable individual who is always eager to learn and develop as a person.
Julieta Ose
Crypto Content Creator
Crypto Content Creator at Lunar Strategy.
Gino De Graaf
Google Ads Specialist
Google Ads Specialist at Lunar Strategy.
Sam Runge
Media Manager
Lunar Strategy.
Your Guide to Crypto & NFT Influencer Marketing For Your Next Project
Your Guide to Crypto & NFT Influencer Marketing For Your Next Project
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