Adoption of Blockchain Technology in the Gaming Industry

The use of blockchain technology in the gaming industry is a remarkable achievement as it may revolutionize the industry to the next level. Not only in the gaming field, but blockchain has also printed its feet in fintech world and many others.

The entry of DLT technology in the gaming industry will make it more transparent and decentralized. Cryptokitties was the first game whose transactions of collectible products were done over the Ethereum network. After this, various types of games- including action, games, adventure games, card games, and casinos as well- started employing blockchain.

Blockchain Game Alliance

At the start of July 2020, blockchain firm Algorand joined Blockchain Game Alliance. The members of Blockchain Game Alliance reach over more than sixty including MakerDAO and ConsenSys. Blockchain Game Alliance or BGA imparting its role in the adoption of DLT technology in the  gaming industry since 2019. Marketing programs director at Algorand, Shamir Ozery, said:

“Our partnership with the BGA is an opportunity to spread awareness about blockchain technologies and encourage adoption by highlighting their potential to foster new ways to create, publish, play, and build strong communities around games.”

Due to blockchain, developers can create tokens that work across gaming platforms. Block Bastards, the creator of the BLOX game designed a token called QUDO. Diogo Abreu, the Product Evangelist at Block Bastards, said:

“QUDO is a blockchain-based service for games which rewards players for their activity and performance with a coin called QUDO. These QUDO tokens aim to be widely used within the industry, allowing game developers and players to generate purchasing power, without the need for in-game advertisements, while giving them the tools to empower their games’ visibility. Blox uses QUDO, like any other game can do… QUDO is… open for every game developer that would like to integrate this technology into their game.”

Casinos are the pioneers in the gaming industry to first accept blockchain technology. A hundred of blockchain-based online gambling platforms are currently running.

Card Games are more Inclines Towards Blockchain

According to Esports Bets, card games are employing blockchain technology more than any other type of game.

“Blockchain integration essentially enables community ownership of the entire gaming ecosystem, which in turn allows game publishers to uniquely monetize their model, create richer and deeper experiences, and extend the lifetime value of the assets that they are creating,” David Markley of Algorand’s Business Solutions group said while talking to Cointelegraph.

Leave a Reply

Your email address will not be published. Required fields are marked *