Blockchain is a decentralized and regulated digital ledger that validate safe transactions and sustain records. Blockchain App Developers Selangor curated a state-of-the-art gaming experience for both businesses and players who use cryptocurrencies and NFTs to gather in-game assets to be exchanged for real-world money.
Role of Cryptocurrency in Gaming
Cryptocurrency is a digital currency that applies cryptography to assure and ease transaction. It has also grow with its fame in the gaming industry. Payments can be made online without going through conventional payment systems.
Validation of safe and quick payments with Cryptocurrency like Bitcoin and Ethereum for in-game purchases, like avatars, themes, etc. Rewards or Crypto tokens can be won by players when during the games.
The evolving cryptocurrency trends has eliminated the whole gaming market with a remarkable resonate in the gaming industry. There are different ways in which Blockchain Mobile App Development Malaysia is being used in the gaming industry with the upsurge in blockchain games or crypto games which includes:
Non-fungible tokens, which known as NFTs, can be traded or used within blockchain games to buy characters and other digital assets. These tokens build a mechanism for gamers to own their digital assets truthfully. Besides, NFTs let players to own more capability over the items and makes them hassle-free to trade and sell as there’s no demand for an liaison like another player.
Play and Earn
When Blockchain induced a new sub-genre called “Crypto-Games” which are distinct from conventional games as they grant players to earn cryptocurrency or digital currency by playing the game. The cryptocurrency turn into tangible money to let players buy brand new items in the game. When you play a crypto game, a cryptocurrency is given an award to you that can be used outside the game in the real world we are living. This can motivate gamers to carry on with playing by rewarding them an incentive in cryptocurrency. Incentive can be redeem by gamers for real-world goods and services.
Virtual Events and Tournaments
Virtual events and tournaments are a condemning element of the overall gaming industry. Virtual events which need a number of resources to run for event place, teams and prize pools, have been assembled worldwide for decades. There are challenges faced like cybersecurity, bandwidth, costly registration cost, etc. It is hard to validate the rewards the participants earned. Blockchain Application technology can ease the process by keeping an eye and verifying who has received the rewards. Blockchain technology is decentralized and provides safe transactions among users. The data will be tracked instinctively with this technology from any network where it is implemented. Therefore, gamers can easily participate in virtual events and tournaments using blockchain technology.
How is the gaming industry transforming using Blockchain Technology?
It is distinguishable that Blockchain technology has been around for some time, in spite of that, it recently gain more attention for its potential to transform various industries. In recent years,Blockchain Technology in Malaysia is identified as the top choice for the gaming industry due to its interest in the different division,
What are the benefits of Blockchain Technology?
The benefits of Blockchain that are helping transform the gaming industry and build blockchain games includes:
Safe and Clear Transactions
Blockchain is a safe, clear, and well established technology, which guarantee no double-spends or fraud in transaction records occurs. It includes a layer of confidence to users when engaging in digital transactions as well as makes it perfect for games where users collaborate sensitive data or virtual assets, such as in the case of NFTs.
Blockchain enhanced security where it an protect sensitive data such as player information, game data, and user transactions from being interfered with or hacked considering that Blockchain proposes an supplementary layer of security by using encryption set-up such as Safe Messaging and Two-Factor Authentication.
Improve User Experience
Thirdly, blockchain improve user experience by identified that a more efficient, safe and clear way to engage in digital transactions and approach virtual assets. Users have more dominance over their gaming experience with blockchain gaming. This trend has manifest itself in several ways, from granting players to build their characters, storylines, etc. Nonetheless, it allows them to download different video games in different versions from every location without putting the gaming adventure in risk.
Besides, a blockchain gaming platform helps certify the verification and authorization of all transactions and interactions between individual parties. This helps prevent fraud in modern-day gaming platforms. Businesses can also use Blockchain to guarantee that no individual has been settled up twice for the similar service or goods given since each transaction is recorded in order to verify transactions.
Moreover, players can trade their product for profits or other supplies. Players can deal with outright confidence, seeing that their product will not be carried off or replicate in acknowledge that Blockchain generate a record of each item and its ownership. This also let them to put up for sale or buy in-game assets from other players.
On the other hand, players can collect rewards in the form of cryptocurrencies by accomplished expedition and missions. Players are rewarded with points that have no financial value outside the game itself in conventional games. Players can collect cryptocurrencies to use as real money to purchase items from other players or nonetheless purchase products on e-commerce websites with blockchain-based games.
Constructing integrated gaming profiles
Furthermore, it is possible to build a streamline community where users can access different games as the blockchain games are the new talk of the town. It let users to have one profile that they can use across different platforms. User experience is enhanced and it is easier to access different games and purchase items.In contrast to conventional gaming, blockchain games have taken charge of the entire gaming industry. However, there are some limitations as well.
Limitations of Blockchain Technology in Gaming
The use of blockchain technology has provided new opportunities for various businesses but also created new challenges like:
Complexity happens when the pains of playing crypto games found not in their storylines but in the gaming activity. To kick off a game, a player needs to create a user account. A player needs to set up a crypto wallet and purchase a certain amount of crypto making it a challenging task depending on the type of Blockchain game.
Besides, regulatory hustles occur when the use of cryptocurrencies like MANA and Theta poses a challenge as licensing bodies are still attempting to understand how they function and whether or not they should be used in blockchain gaming.
Furthermore, the gaming industry is extremely competitive with constantly released new games and platforms. This can make it demanding for blockchain-based games to take part against traditional games. If you’re looking to create a game, Digitalfren who are known to be Blockchain App Developers Selangor will be happy to guide you on the right path.There are numerous Blockchain-based games assembled in the industry and let’s look into real-world examples of top Blockchain games.
Real-World Examples of Blockchain Games
There are a few popular ones with nearly hundreds of blockchain games in the market which includes:
CryptoKitties launched in November 2017 and it is one of the world’s earliest ventures to launch a blockchain-based game. It has become one of the most well-known games built on Ethereum currently. CryptoKitties aims to create a new generation of kittens with unique attributes to maximize their value. Players can market their kitties through an open marketplace or store them till they get valuable. Each kitty’s personality is based on genes speak for different traits like fur pattern, eye shape, etc.
Decentraland is a virtual reality platform which let users to create, experience, and monetize application and content that utilize blockchain technology to build a decentralized virtual world.Users have the permission to walk around and tour as well as buy different properties owned by other users. They can even pay to enter clubs, play games, enter space adventures and test out all the different experiences that builders worldwide fantasize.
Gods Unchained is a collectible card game that uses Ethereum for its cards’ ownership tracking. Gods Unchained cards are digital assets that are distinctive and valuable which cannot be copied or modified without the permission from the owner.The cards can also be traded directly between players without going through the game’s marketplace, and the Ethereum blockchain secures them from hackers.
Future of Blockchain in the Gaming Industry
The future of Blockchain Mobile App Development Malaysia in the gaming industry looks bright. We can expect to see more games and platforms that use Blockchain in the future with growing businesses exploring blockchain technology in Malaysia. Nonetheless, we can look forward to get a glimpse of more applications and features for Blockchain in gaming, including quick and safer transactions, decentralized platforms for virtual worlds, and new digital assets structure as the technology continues to grow and become adopted widely. Thus, the social aspect of gaming is gradually more important to gamers’ overall experiences with the growing gaming community. Connect with us and be apart of the entire process of developing a Blockchain Application in Malaysia.