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reason. Blockchain games: Future of the internet - Lunarstrategy
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Tim Haldorsson
December 11, 2021



WHY BLOCKCHAIN-BASED GAMES ARE THE FUTURE OF THE INTERNET

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


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


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


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


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.


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Tim Haldorsson
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.
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