Blockchain technology can be used not only in the financial sector, and game developers immediately noticed this. After all, gaming is a rather promising niche in which crypto elements can easily be used. Discover more about blockchain in gaming in 2023 and future development.
New Paths of Acceptance
Previously, 2022 was a very difficult year for blockchain games. Surprisingly, 2022, on the contrary, was one of the explosive periods when the ecosystem was filled with various blockchain games. Fortunately, everything has more or less stabilized. Along with bitcoin slots, new, no less promising projects, such as Axie Infinity, Gods Unchained, Splinterlands, etc., began appearing on the market.
Game developers have taken their stance. Ubisoft, for instance, has backed numerous crypto projects - a commendable move given other companies' passivity. This investment sparked widespread discussion among the community. This year has welcomed these developments in a more assuring and receptive manner.
As the months passed, the sectors matured, and blockchain's input became rather apparent. Ethereum proved a workable solution for gaming thanks to its smart contract abilities and security provisions. Game creators welcome d this convenience, shaping further advancement in both industries. Also, the rise of games with non-fungible tokens has contributed to greater acceptance of blockchain technology.
New Players on the Market
Without going too far from the topic with Ubisoft, it is worth mentioning that not only has this studio shown interest in such games, but In 2019-2022, there were a lot of studios on the blockchain gaming market, but it was something at the level of indie teams that had ideas but few resources. But in 2023, a lot of developers appeared. In addition to everything, the ecosystem was replenished with various platforms, for example:
- OPSkins is an online marketplace for gamers to buy and sell video game collectibles in exchange for cryptocurrencies;
- DreamTeam is an esports platform using blockchain;
- Blok Party - developer of the first blockchain gaming console and collectible gaming items;
- Enjin is a blockchain ecosystem that allows you to manage digital assets, launch assets and video games based on the blockchain;
The most promising studio at the moment is Mythical Games. It was founded by former Blizzard Activision employee John Linden. Therefore, we should expect at least one blockchain project from Mythical Games in 2024. But it’s difficult to say what level this project will be; it will most likely be a test game to evaluate the capabilities and hype around blockchain projects.
But still, one thing remains unchanged. Due to insufficient funding, it is difficult for small development teams to compete with gaming corporations that prefer to develop games built on centralized servers since this type of development and game process management is more promising in commercialization.
Nevertheless, blockchain technology has great potential in the gaming industry to improve user experience due to decentralization and transparency of interactions.
Esports
It’s hard to imagine gaming without esports, especially now. The division of e-sports into “classical” and “blockchain” is embryonic, but this cannot be ruled out. One example of using blockchain in esports is the payment of rewards to players through cryptocurrencies. Additionally, blockchain can help create transparent voting systems for determining tournament winners and VAR-style dispute resolution.
Blockchain technology can also be used to create a distributed e-sports management system, which will allow:
avoid manipulation and fraud;
avoid external interference in the course of the game;
protect data;
ensure fair and competitive play;
exclude the use of cheats, third-party programs and exploits.
Moreover, this technology could be useful in supporting eSports teams to improve financial sustainability and management, especially among younger gamers.
Final Thoughts
However, despite the positive aspects of using blockchain technology in the gaming industry, there are a number of problems that need to be overcome to develop the gaming segment built on blockchain technology:
- Scalability. Transactions into decentralized networks are slower than centralized ones, which limits the possibilities of a full transition to blockchain technology
- Centralization. Decentralization is not a consequence and the essence of a binary system; decentralization depends on the logic of constructing network nodes and on the architecture of the network.
- Lack of demand. Currently, many games built based on blockchain technology are already available, but their demand is still quite low.
- Entry threshold. For developing games using blockchain technology, financing is required, the search is quite a difficult task due to the market's lack of full acceptance of this technology and problems with scalability, which may limit the possibility of development and commercialization.
At a basic level, various platforms will help you understand blockchain technology. But to change blockchain gaming in 2024, it will take more than that. One thing is certain: according to analysts’ forecasts, 2024 will be more promising and stable for blockchain gaming than 2023.
