How Games Software Development Is Benefiting From Blockchain
Blockchain is nothing new to us. We have been hearing about it for a long time and have seen examples of how blockchain is making our lives easier and better. There is more trust and credibility, as well as other things when we use blockchain for our transactions. It gives more options to our customers. It is by far, one of the most advanced emerging technologies in the market.
Blockchain has made its way into quite a few industries and is not showing any signs of stopping. One more industry that is seeing disruptions thanks to blockchain in the gaming industry. Experts from a blockchain development company are stating that it is about to completely change the terrain of the gaming industry by allowing gamers to ‘earn’ real money that they can use wherever they want. This has never happened before and it means a lot of companies will be building their games differently.
As far as the gaming industry goes, in 2017 it generated around US$116 billion which amounts to around £91 billion. According to experts, this figure will go to $300 billion by the year 2025. This is more than enough to show us just how much potential there is in the gaming industry and how video games can hold the attention of the public for a long time.
If you are still not accepting the power that video games hold over people, consider a letter that Netflix shared with its shareholders in 2019. In this letter, Netflix says that they are not as worried about competition from other streaming services. What they are worried about is the competition that they are getting from the game Fortnite. The game has more than 80 million players and at the time of writing, was valued at more than $15 billion.
So, how are custom software development services providing gaming companies leveraging the power of blockchain?
First of all, let’s look at the example of Epic Games—the company responsible for Fortnite. Instead of taking the huge success and enjoying it, the company announced that it will be entering blockchain gaming soon.
Another top gaming company is Ubisoft—the company that has brought us Assassin’s Creed, among other exceptional video games. It too announced that it will be investing heavily in blockchain technology for future games. That’s not all. The decision to leverage blockchain technology is being taken by many a mobile app development agency as well.
Why are these gaming giants climbing aboard the blockchain bandwagon? Because they recognise blockchain technology is about to upend the entire multi-billion-dollar gaming software industry.
The question is why would companies that have huge gamer following invest in blockchain?
The answer is simple. No matter what game you play, you are restricted to its environment. For example, if you win something while playing Assassin’s Creed, you can only use it inside the game. It does not exist outside the game and has no real value. Blockchain is about to change that. Thanks to this technology, if you win a reward in one game, you can easily transfer it to another game. This means that the rewards that you win have actual value. You can purchase them and sell them in various blockchain-powered marketplaces.
So, are you part of the Future?