The Power of Play: How Blockchain Gaming Could Lead the Way in Crypto Adoption

游戏的力量：区块链游戏如何引领加密货币的普及

Sức mạnh của trò chơi: Làm thế nào Blockchain Gaming có thể dẫn đầu trong việc áp dụng Crypto

<h2>Introduction</h2>
<p>Despite being in existence for over a decade, cryptocurrencies have not yet achieved mainstream adoption. This is mainly due to the technological intricacies that make it difficult for the average person to understand. With so many terms and concepts to grasp, blockchain can seem like an impossible puzzle to solve.Most decentralized applications (Dapps) and protocols today also lack intuitive and engaging user interfaces, making it difficult for users to interact with blockchain technology, and slowing down mass adoption.</p>
<p>The various blockchain-powered products and services available, including decentralized finance (DeFi), chains, bridges, oracles, and non-fungible tokens (NFTs), only add to further confusion. For the average person, learning how to manage digital wallets, swap tokens, switch chains, and navigate the decentralized ecosystem can be overwhelmingly complex. These high entry barriers have kept many prospective users on the sidelines, waiting for an easier on-ramp to the technology.</p>
<p>While blockchain promises disruptive wonders, most people have yet to experience it first-hand in their daily lives. However, there is hope for a brighter future, and it involves gaming.</p>
<h2>Why Blockchain Gaming?<br /></h2>
<p>Gaming has always been a popular pastime and today over 3.2 billion people in the world play games every day. Not many people realize how big the gaming industry actually is. It currently has a global market value of over $200 billion and is expected to grow 50% to $268.8 billion by 2025.To put that in perspective, the gaming industry is worth more than the global film and music industries combined. </p>
<p>The integration of blockchain technology into gaming could be the key to driving mass adoption because blockchain technology can introduce games that use cryptocurrencies as in-game currency. Developers can introduce players to the world of cryptocurrencies in a fun and engaging way. Players can earn and spend cryptocurrencies, making them more accessible and demystifying them for a wider audience.</p>
<p>Besides, many existing gamers today already understand fundamental blockchain concepts. For instance, they know how in-game characters work, how they can upgrade their characters and their abilities, add more characters, and so on. It’s the same with blockchain-based P2E games.</p>
<h3><strong>It's still Early</strong></h3>
<p>Despite the recent surge in popularity of blockchain gaming, it is important to remember that we are still in the early stages of this technology. While it has been around for several years, blockchain gaming only accounts for about 5% of the gaming market, with fewer than 2,000 gaming applications currently using blockchain technology.</p>
<p>However, blockchain gaming is showing signs of strength and is a rapidly growing segment of the global technology sector. The gaming industry is massive and continues to grow every year, making it a prime candidate for disruption.</p>
<h2>How Will It Help Mainstream Crypto Adoption</h2>
<p>Blockchain gaming can help provide players with ownership of gaming assets as well as the power to make decisions, further delegating power away from central authorities. Here are some noteworthy advantages of blockchain gaming:</p>
<p><strong>1. True Ownership</strong></p>
<p>Players can purchase in-game items or virtual coins in traditional gaming, however, they are typically stored on game developers’ servers.Instead of storing these assets on the cloud, blockchain gaming uses blockchains, allowing players to truly own and control their assets, making them impossible to steal or manipulate.</p>
<p><strong>2. Game Experience Security &amp; Fairness</strong></p>
<p>Blockchain platforms make use of powerful data encryption techniques, like private-public keys, to secure crypto token exchanges. One could say that fairness is built into the blockchain code, and players can expect a trustworthy and protected gaming experience. This element of trust is further enhanced due to the decentralized nature of these games which assures players that their data will not be misused or stolen.</p>
<p><strong>3. P2E Model Potential</strong></p>

<p>As a result of the play-to-earn models, players have more time to spend in a virtual environment without feeling guilty about what they could be doing to earn money in real life instead. It may still be too early to tell, but the P2E model may also attract some first-time players, growing the customer base and boosting sales, thereby benefiting all parties.</p>
<p><strong>4. Governance &amp; Control</strong></p>

<p>Blockchain games provide players with a very real and impactful opportunity to vote. As a result of this trend, games have become more interactive in a variety of ways, such as allowing players to design their own characters and plots — and to actually play them. In the event that a majority, or even nearly half, agree that something should be altered in the game, a change will have to be made. </p>
<p><strong>5. Gaming Asset Prices</strong></p>
<p>The blockchain provides the benefit of affordable microtransactions. By doing so, developers are able to sell their power-ups at a low price while still making a profit. The user can also choose the amount they are willing to pay for online gaming.</p>
<p><strong>6. Interoperability</strong></p>
<p>Many games are available to players, and they naturally have to create separate profiles for each one, but would it not be convenient if profiles were compatible across games? This is yet another area where blockchain gaming technology can be of assistance and allow users to access and purchase different games and items with ease.</p>
<h2>Setbacks and Challenges </h2>
<p>Despite the world of new opportunities blockchain gaming provides, there is still some work to be done. Many of these challenges weren't anticipated earlier, but with advancements in tech, there is hope. A few of the key challenges include:</p>
<h3>Limited Awareness</h3>
<p>Despite the growing popularity of blockchain and NFT technologies, there is still a widespread lack of awareness about them. While many people may have heard of these technologies, they often consider them to be buzzwords rather than fully understanding their potential. Consequently, blockchain-based games and their unique benefits are often overlooked and do not receive the attention they deserve.</p>
<h3>Scalability Issues</h3>
<p>As a game becomes popular and evolves, it must continue scaling along. However, blockchain gaming systems find maintaining the additional load of transactions and scaling with demand quite challenging.</p>
<h3>High Transaction Fee</h3>
<p>Blockchain-based transactions are expensive and sometimes cost dollars per transaction. Even the simplest blockchain games with minimal interactions can be costly because of this reason. For example, if the gamer pays a single cent for every move they make, they will still spend a lot of money.</p>
<h3>Regulatory Uncertainty</h3>
<p>The regulatory framework surrounding cryptocurrencies and NFTs sometimes discourage gamers and developers from exploring blockchain games to their full potential. Blockchain-based crypto games and collectibles present some legal risks. </p>
<h3>Resources</h3>
<p>Because of restricted entry to groups, blockchain game developers find it tough to compete with major centralized game developers.</p>
<h3>User Experience</h3>
<p>Onboarding mainstream gamers into a blockchain game is certainly not a smooth process. A player must perform many unique steps, such as downloading the Metamask Chrome extension wallet, generating an address, and signing up with an exchange. A crypto-savvy user will be okay doing all this, but this can be too complex for an average mainstream gamer.</p>
<h2>How do Centralized Game Developers Respond?</h2>
<p>Last December 2021, the French company behind AAA gaming franchises Assassin’s Creed and Far Cry, Ubisoft, released a limited edition non-fungible tokens (NFTs) called “Digits” inside their military shooter game Ghost Recon Breakpoint. This made them the first major publishers to include NFTs in a title, marking a massive shift in the mainstream gaming sector to using blockchain technology. However, the launch did not go as planned and received huge backlash as it wasn’t implemented effectively. Players complained about how it took 600 hours of playing time to earn just a single free item – a cosmetic helmet for in-game avatars. Those in the crypto space were wary of centralized platforms and companies like Ubisoft entering the space, too, as this goes against a lot of what they stand for. The launch didn’t have the response Ubisoft hoped, with one report stating just 15 NFTs were purchased, totaling under $400. </p>
<h2>Conclusion</h2>
<p>Although the integration of blockchain technology into gaming is still in its nascent stages, it has immense potential to revolutionize the gaming industry and facilitate the widespread adoption of cryptocurrencies. By leveraging the influence of gaming communities, developers can design immersive experiences that introduce players to the world of cryptocurrencies, demystify complex technology, and cultivate trust in the new digital economy. </p>
<p>As the world becomes progressively more digital, gaming could serve as the catalyst for unlocking the full potential of blockchain technology.</p>

Public Relations @ MaskEX Global

Ayman Shaat

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The Power of Play: How Blockchain Gaming Could Lead the Way in Crypto Adoption | MaskEX Blog