What is Blockchain Gaming?

• Toshendra Kumar Sharma
• March 31, 2018

When it comes to technology, we have to admit the fact that it is highly dynamic. Every day we hear about some new, developments in this domain and the recent one is Blockchain. This technology has given us some revolutionary changes which are bound to change the future course of action of various business niches. Well, my objective of writing this blog is to widen the horizons of application of blockchain technology and showcase how it will influence the field of gaming.

Yes, gaming, yet another popular field which has a huge fan following. It’s a world within the world. You can an entirely new environment and ambiance that exist here. People who love to game always seek out, new ways to make their gaming experience even more realistic. Well, we all know that gaming is a wide field and people interact in the virtual world to compete with each other or play together. To make this whole process safe and secure, it is essential to have a system in place which can ensure this. Well, here blockchain might come into the picture. Let’s analyze how blockchain gaming will change the gaming world.

Blockchain gaming –

Let’s see how it is going to change the world of gaming :

1. Parallel gaming universes– Blockchain enables the gamers to create their characters and use them in different games having entwined environment. With the help of this information, we can figure out the gamers’ preferences and create more tailored experiences.
2. Increasing the Value of Gaming Items– When it comes to increasing the value of virtual games, blockchain can prove to be helpful in the following ways:

• You can use virtual products both in and out of the game. It further raises the value of the virtual products.
• With the help of blockchain, we can set up a platform which allows players to cash those products for fiat currency like dollars.
• It will create a network which will facilitate sharing, trading, and gifting f virtual items which will enhance the social value.

3. Safe Storage- Since all the transactions or data in blockchain is encrypted using cryptography when this feature is merged with gaming, it will ensure safe and secure storage of game products. Cryptography ensures that the information or the data is unalterable, unchangeable and cannot be hacked making everything impenetrable. In simple words, it means that the information of the virtual items safe with the users.
4. Saving on Payment Processing– We all know that the decentralized payment gateways allow the user to make payment in minimum time and with only a fraction of processing fee that the users pay using their credit card. When it comes to the developers, they can save on merchant subscription fees and payment gateways.

Examples of blockchain games-

If you have thought that Blockchain gaming is just a buzzing topic, then you should know that we have some blockchain games ruling the market and garnering the attention of the world. Here are few prominent ones:

1. Cryptokittes – The game has been a huge success since the time it was first introduced. This game is based on Ethereum blockchain and is very popular. Cryptokitties involve digital trading cats. These digital cats are smart contracts which have a distinct identity and unique attributes. The popularity has grown so much that the top-selling Genesis Cat’s worth has gone up to USD 115,000.

2. CryptoCelebrities – I’m sure many of you might have played the game where you exchange celebrity cards, this game is also similar. It involves buying, selling and trading of celebrity cars with pictures of celebrity on them. These cards are Ethereum smart contracts. With the purchase of each smart contract, it doubles in values from the startup price of .0001 Ether.

The list doesn’t end here; we have many other games like EtherWarfare, Spell of Genesis which have created a fervor in the market and have garnered the attention.

When it comes to blockchain applications, then the list is endless, and we see new additions every day. Despite certain hiccups like lack of regulatory authority and control, this technology has some huge sets of benefits to offer. With so many applications including the gamin, blockchain is undoubtedly going to rock the future.