Ever since video games came into existence, there is hardly any person who has not been affected by the unmatched user experience it has to offer. With such a huge market, the gaming industry has even roadblocked the surge of sports and movie capitals. As per the reports and statistics, the online gaming industry is going to touch the extreme caps of whopping $180.1 billion by the end of 2021. And no surprise why Blockchain Technology has also carved its way into it.

The gaming sector is a never-ending landscape. And with Blockchain Technology, it is expected to reach new heights in the not-so-distant future. Well, to our astonishment, many projects are already being picked up and tested for the results.

Just for an instance, the blockchain enthusiasts might clearly be aware of the infamous CryptoKitties that took the Ethereum network by storm in December 2017. The furry creatures made the users fall in love with the gaming experience as the players could freely collect, purchase, breed or sell any type of virtual cat they wanted and all these activities involved the actual usage of cryptocurrencies.

So let’s now quickly get started with how blockchain technology is revolutionizing the gaming industry.

Secure And Safe Storage

You will be surprised to know that inculcating encrypted Blockchain ledgers in the gaming sectors will prove to be comprehensively beneficial as it will guarantee a safe and secure way of storing your gaming items.

As long as your information is protected and backed up by the blockchain technology, you can bid farewell to any wicked dream of hackers hoping to gain an unsafe access to the data. Well, not only would he have to hack the right node but the timing has to be impeccable as well.

Apart from this, there is an ocean of impenetrable encryption that should be deciphered in order to break the security and practically, that is just not possible. This is the prime reason why blockchain offers maximum safety to your virtual items.

More Thrilling And Parallel Gaming Universes

Nothing could be more exciting than playing online games and gaining continuous access to the parallel gaming universes. Moreover, as a gamer, it is always desirous of having your characters and using them across several games. And it will all be possible since every fragment of your data will be verified through smart contracts.

Blockchain technology provides a better option of storing your data and copyrights them in order to be used in games in the form of digital assets. Further to this, many companies are also joining hands to facilitate more interesting parallel gaming universe to the users.

Also Read How Is Blockchain Technology Transfiguring Cybersecurity

Increase In The Value Of The Gaming Items

The paramount satisfaction in gaming is achieved when you get to own several in-game items, especially those that are seemingly hard to accomplish. As a result, the gamers spend a huge amount of time in end farming for these possessions. There are a few ways how blockchain will enhance the overall value of these virtual items.

Putting options for automatic in-game transactions

Subscription service for limiting the expenditure of users

Cheaper power-ups for users

Other Advantages of Blockchain In Gaming Industry

Despite the points that I mentioned, there are several other facets of the blockchain technology that are contributing to the advancement of the gaming industry. These include:

Reduce lost revenue and frauds

Save money on payment processing

Regulated gaming economies

Micro-transactions in gaming

Proof of Asset Scarcity

Democratize the gaming industry

Overall, I believe that both blockchain and the gaming industries are massive and hold utmost possibilities to complement each other. If you have a business in the gaming sector or if you are a blockchain expert, you should accept the kind of future these technologies are going to bring in together. Moreover, if you are also looking to build such apps or games powered by the blockchain technology. Let us know. We help transform ideas into success!