The worldwide gaming industry was forecast to reach over $152 billion last year. More competition and progress in blockchain gaming may understate current growth predictions. At the beginning of January, Ubisoft stated that it was focusing on blockchain gambling as one of the two major areas of emphasis in its incubation programme.

The Rise Of Blockchain Gaming

According to the Annual Dapp Market Report, the decentralized gaming industry user base has increased by 162 percent compared to 2018. With an existing user base of a little under five hundred thousand players, the number is less than the conventional game market, with more than six hundred million console players globally.

How Blockchain Technology Is Changing Gaming

Blockchain technology may bring new aspects to the gaming experience, which will enable players to play in ways that were previously not feasible. The system allows real digital scarcity, where players may own all of the things in a game, from unique features to rewarding products. Even if a game is updated to include some uncommon goods, the player still retains ownership. At present, bonuses are available to all new customers on the site as you can check out, but they are not tracked on the blockchain.

What Is The Value Of Blockchain In Gaming?

The Blockchain provides value for its users through digital ownership. Gamers may share an item with others, sell it on the digital asset market or perhaps utilize it jointly in a different gaming setting. Cross-game interoperability is thought to have enormous potential for keeping players engaged for longer periods of time and making virtual currency and goods in many games work properly.

Blockchain Game Development

Blockchain gaming enables developers to build real-value assets that match the incentives for creators as well as players. With large gaming studios each year earning the lion’s share of income and profit, more developers may participate in the global gaming industry as new innovative methods of promoting and engaging gamers come into play.

New Blockchain Games on the Way

CryptoKitties is today’s most widely known game, but fresh entries are worth following. TRON, Animoca Games, OpenSea, Enjin, Robot Cache, and other projects are among them. They will create a new type of Play to earn game on the blockchain. The speed of transactions and user experience still affect the market.

QURAS uses two leading privacy technologies to enable both consumers and businesses to choose the appropriate degree of privacy for every transaction. In March 2020, the QURAS main network will debut at a pace of 1,000 transactions per second and a period of a 15 second block. It has its own native token which may be used in integrated games as a valid method of payment.

Final Thoughts

Blockchain technology is still a major player in the global gaming industry, but the blockchain industry is on the rise. Advances in blockchain gaming are expected to occur first in the mobile gaming area given the scale and worldwide accessibility of this industry. Once established, the blockchain will become a pillar of gaming, and will create a new environment.