Blockchain Technology and Its Importance in The Gaming Industry

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Written By Ishika Chauhan

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Are you interested in Blockchain technology and how it can be used to improve video games? This is a huge market that offers many potential opportunities. Experts believe that Blockchain will first be used in the gaming industry to alter it and make it more enjoyable than ever.

How Gaming overcomes remaining challenges will serve as a model for other companies looking to adopt blockchain technology.

Gaming is growing at an unprecedented pace. The value of the gaming sector will surpass $300 billion in the next five years, according to indicators.

This is due to an increase in players, especially on mobile devices. Mobile gaming makes gaming more accessible for approximately 2.6 billion gamers worldwide.

What is Blockchain Gaming?

A type of video game called blockchain games, also known as NFT games and crypto-games, is one that uses blockchain technology to protect its users. These types of games often offer blockchain capabilities that allow cryptocurrency (also known as non-fungible tokens (NFTs)), which players can use to buy, sell and trade. The creator of the game earns a portion of every transaction as a revenue-generating method.

Blockchain-based games can be referred to as either play-to-earn or play-to-win in some cases. In these games, players make enough money to cover their basic needs.

This article can help you if you are interested in investing in cryptocurrency or have thought about it but are unsure where to start.

Blockchain Gaming Concept

Video games could be monetized using blockchain technology, especially NFTs or cryptocurrencies. Many live-service games allow you to purchase character skins or other in-game items with game currency. You can also trade with other players.

The ability to trade virtual items for real cash in countries where video games are considered gambling may be banned. This has led to grey market issues such as skin-based gambling and publishers opposed to allowing users to make real money from games.

Blockchain games allow players to trade in-game items and receive bitcoin. These can then be traded for cash. This transparency could help eliminate grey market issues.

What Made Blockchain Gaming So Popular?

Blockchain-based games have been around since 2017, but the industry didn't become interested until 2021, after some AAA publishers expressed interest in exploring their potential, after artists, gamers, and businesses from the gaming industry raised questions about its potential.

Blockchain-based gaming has changed the regulations of the gaming industry, making players the primary financial decision-makers instead of game developers.

The rise of P2E bitcoin gaming cannot be overlooked. It is important to understand how the system works before we get into details. The number of blockchain-based gaming applications increased by 22,000% in the first quarter of 2021. This accounts for 52 percent of all blockchain activities, according to DappRadar's most recent study and BGA Games.

By March 31, 2018, blockchain gaming was attracted to 1.22 million wallets that had a unique active status (UAW). Axie Infinity was responsible for 22,000 of these wallets, despite a security breach at Ronin Bridge costing $615 million.

A significant factor in the growth of the Ethereum platform on platforms like Crazy Defense Heroes, Arc8, Arc8, A Tamagotchi, and Arc8 has been the rise in play-to-earn (NFT), games. This resulted in a 21% increase in gaming activity on Polygon starting in 2022.

However, activity on Ronin and BSC chains has declined since the beginning of the year as consumers try to lower the risk associated with more volatile networks.

The total amount raised in the first quarter of 2022 was $2.5 billion across all industries. This is a 150% increase over the quarter before. Animoca Companies raised $360 million for a $5 billion valuation to position itself as one of the most prominent Web 3 brands.

Important Terms in Blockchain-Based Gaming


The majority of blockchain games use the concept of play to earn. This allows players to make money and participate in game-based economies that allow them to purchase and sell game-related products.

Blockchain-based games allow users to own all their online assets, in contrast with traditional game models such as pay-to-play games or free-to-play games that require in-game purchases.

Players are awarded firearms, skins, and other gaming-related items throughout the positive cycle.


The initial purchase is required by players to buy an asset on the spot. This is often a non-fungible token, which is a similar strategy to play-to-earn.

Like play-based learning, the item will become more valuable over time and profit will be an incentive to keep it.


GameFi is a generic term that refers to both pay-to-earn and play-to-earn models. The term GameFi emphasizes your opportunity to make money through gaming.

Blockchain infrastructure must have high transaction rates and low fees to make a successful blockchain-based game. Consumers will not have to pay high transaction fees when purchasing or selling inaccessible items.

In-Game Asset Ownership

Players are reticent to pay for developer-controlled, non-transferable game assets. All player funds are forfeited when an online gambling website is closed.

Tokenizing game assets involves the production of non-fungible tokens that allow developers to have full ownership.

What Impact does Blockchain have on The Gaming Industry?

Blockchain Technology is a great technology for the gaming industry due to its versatility. Below are a few of these ideas.

  • It increases gaming safety
  • It allows you to actually possess in-game items.
  • It allows you to manage your chosen games and allows you to earn points as you play.

Gaming Benefits from Blockchain

Add value
Its Owner
Physical Benefit

Blockchain Gaming: The Benefits

Blockchain technology is revolutionary and has made a huge impact on the technology industry. It's hard to find an industry where blockchain technology hasn't had an impact, and the gaming sector is no exception.

The potential for game development can be unlocked if developers understand the benefits of blockchain technology integration.

The players will be able also to generate income from their assets and properties, buy or sell virtual goods for bitcoin, compete against other gamers around the globe, and play blockchain-based gaming.

Below are some ways that Blockchain Technology might influence Gaming.

  • Bitcoins can be used to make purchases in a game
  • Blockchain offers game developers and entrepreneurs a safe environment
  • Blockchain is used in Gaming to secure the sale and purchase of game assets
  • Blockchain Enables Players in Gaming to Access Interoperability Profiles
  • Blockchain allows gaming to realize the full value of intangible assets
  • Blockchain Technology will allow for the secure storage of in-game assets
  • Blockchain-based Gaming allows players to own in-game assets
  • Blockchain gives players more control over their favorite games
  • Blockchain Gaming Expansion Benefits Developers
  • Blockchain allows players and developers to work together on game enhancements
  • Blockchain allows for the creation of exclusive in-game assets
  • Blockchain Technology eliminates Fraud

Check Out These Top Blockchain-Based Games

  • Gala
  • Smooth Love Potion
  • Decentralization (MANA).
  • The Sandbox (SAND).
  • Plant VS Undead
  • Gods Unchained
  • Illuvium
  • Age of Rust

Are You Looking To Invest In The Blockchain Gaming Industry?

The global gaming industry is huge, with virtual games revenue expected to exceed $253 billion by 2022. Blockchain-based games are being adopted by the gaming industry. Blockchain technology and gaming are natural partners.

Blockchain technology can help you distribute games and other rewards, making it easy to create viral games.

If you are looking for game development services, Suffescom Solutions Inc. will help you create a winning blockchain-based game. Our team is made up of highly skilled Blockchain developers, who have developed several competitive Blockchain applications.

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