Using Blockchain Technology the companies are continuously evolving and untangling the new ways. Most of the people are thinking to explore about cryptocurrency and finance every time the word Blockchain is referred to in the technology. Industries like art, energy and agriculture are implementing the blockchain technology in the operations.
Around 2 billion users have joined the project across the world and yet there are many more who are picking up the projects. This whole project costs around USD $94.4 billion in the mid last year and will reach around $128 billion in the next year. Certainly, the sector is thriving at a faster rate.
To analyse the current scenario of the blockchain gaming landscape it becomes easy to divide the benefits as per the integration of affordability and the current hurdles that faces the adoption. Here are some of the benefits of Blockchain Gaming:
More parallel gaming universes
Playing online games is the most thrilling part and if added with continuous access to the parallel gaming universe. The distributed ledger of the Atriark company will make this happen for you. It can be possible by the verification of data through smart contracts. So how does blockchain basically works? Blockchain takes hold on the copyright of data and to provide a better alternative for data storage i.e used as an asset in the gaming platform.
Moreover, blockchain technology has made companies develop a parallel gaming universe irrespective of their terms and conditions that allow the loyalty across all the inter-linked titles.
Increase in Value
The developers of gaming platform are spending hours to make an item which possesses all the unique qualities. Besides, there are many other ways in which blockchain is increasing the value. Developing new ways of inserting and exiting the virtual items that increase the fictional value of the item. Developing the platform for the player which allows them to sell the virtual items that help them to strengthen the economic value in exchange of fiat cash. Also, developing the virtual space that increases the gifting, sharing and trading of the virtual items that increases the social value. Hence, an increase in value will lead to the renovation of the name to the digital asset.
Money Saviour
The gaming industry is massive enough so it is possible that the player pays extra bucks by using the fiat currencies which turns out to be expensive. While the blockchain will make you pay for the smaller amount as well without even bothering the debit or credit card companies. Since the platform is decentralised it takes only an infinitesimal amount from your wallet.
As long as Blockchain is there, you need not to worry about the hacker’s who are giving their very best effort to access. Although, the hacker has to crack the right node at the right time to make the things impeccable.
Lesser Chances of Losing
There are multiple cases present on the internet where people have lost billions of revenue. Whereas, blockchain eradicates this type of menaces and helps the industry to save the revenue annually.
Regulation of Economy
Heavy regulations sometimes lead to government bans that form the black market which is bad for everyone. Even the developers of the game lose control over the trade parameters and forfeit the revenue and also exposes the users for being scammed.
Whereas, Blockchain does not need any policing. The technology will make the developers to gather the item royalty across the gaming world. Being a developer you have the option to trade an item without any restrictions and selling the asset.
Despite, all the above factor there are many others as well such as the democratisation of gaming company, ease of micro-transactions, security and proof of asset scarcity where blockchain has performed remarkably. Hence, we can say it has an enormous impact on the youth and will soon show some different aspects of the gaming world.