There are reportedly one billion online players worldwide. One in seven people, to be exact. But blockchain technology is about to upend this enormous online gaming sector, which produced 21.1 billion USD in sales in 2020.
How?
Many of the issues that have bedevilled the traditional online gaming industry are resolved by blockchain technologies, including the ability for players to fully control game assets (such as skins, weapons, etc.), the ability to reward gameplay with earnings opportunities, and the opening of games to flexible development.
Ethereum is where the movement toward blockchain-based online game development first gained traction. However, since rising transaction costs and network congestion hampered development, developers have started switching to other platforms.
Fantom is one of the greatest blockchain networks to build on in this emerging and continuously changing industry. The continuous and fluid play that gamers demand is ensured by its one-second transaction fees and minimal transaction costs, and its EVM compatibility assures a seamless experience for developers acquainted with Ethereum.
GameFi financial
In conventional online gaming, the products you buy in-game are kept on a main server that is typically under the developer’s control. You forfeit your investment if the game’s developers decide to end the game and turn the server off. There is no assurance that your money will be protected by a digital paper trail if the server is compromised or the buy transaction fails.
By transforming in-game assets into NFTs (non-fungible tokens), which are held on the blockchain and are entirely controlled by the owner, blockchain-based games, or more specifically games built on dApps (decentralised applications), change this. Additionally, an NFT’s sale or transfer becomes traceable on the digital ledger as soon as it is “minted” or created, serving as proof of purchase.
Developers of dApp games are increasingly preferring to reward loyal players with NFTs that are uncommon or can level up with regular use. Users can realise a significant amount of value from NFT game products in well-known games by exchanging them for cryptocurrencies with monetary worth on exchanges. The earning potential that dApp games provide—often referred to as GameFi—is a strong inducement for players to keep playing.
The MetaVerse Games
The NFTs that players obtain while playing games are transportable; they can be carried between games, for instance. The persistent, real-time digital worlds that are gradually becoming a part of daily life are known as the Metaverse, and developers are progressively incorporating them into games or dApps on it.
As digital technologies advance quickly, the intersections between NFTs, online gaming, and the Metaverse will only get more obvious. Blockchain-based, NFT-based, and deeply rooted in the Metaverse’s virtual worlds, gaming has a bright future.
Also read it: blooms-taxonomy
- Fantom is quick, which is one of three reasons to use it for blockchain-based game development.
On the blockchain, each action or activity includes a transaction. A character’s levelling up, purchasing in-game goods, customising their appearance, and other actions all include blockchain activity.
Games must operate in real-time to provide a fully immersive experience, thus any delays, buffering, or user waiting will soon drive away players. A blockchain with the speed and power to handle high transaction loads is necessary for a successful dApp game. Even with a lot of traffic on the network, transactions on Fantom are completed in under a second.
On Fantom, instant transactions result in a fantastic gaming experience for users.
- Fantom charges almost no transaction fees
Every action taken in-game involves a transaction, which is why we know that blockchains levy a transaction fee that is given to the nodes that validate transactions. Other blockchains may have prohibitively high transaction costs, which would prevent any kind of gaming.
However, on Fantom, transactions only cost a few cents, letting users play their preferred games without concern for transaction fees.
Fantom supports both Solidity and Vyper-written smart contracts and is compatible with the Ethereum Virtual Machine (EVM). This implies that programmers can create for Fantom using well-liked, typical tools like Metamask and Truffle. Existing dApps are essentially seamlessly ported to Fantom.
Additionally, Fantom includes industry-standard programming tools, a native block explorer called FTMScan, and compatibility for Cosmos SDK. These elements give developers more freedom to create scalable games on the Fantom blockchain.
By adding more features and complete control over in-game items, using blockchain to deploy games can assist creators in improving the entire user experience. However, on responsive and cost-effective blockchain platforms like Fantom, high-quality games can only reach their full potential.
The advantages of the Ethereum blockchain for the gaming sector:
The gaming industry is a major on-demand sector. It has greatly improved over time. Players from all around the world are increasingly embracing e-gaming as the future of gaming as a result of its unceasing growth and demand. Players and game developers benefit greatly from the blockchain’s decentralised gaming platform. Let’s quickly go over the benefits of Ethereum Game Development.
- Users can raise money and leverage the capability of the game platform’s smart contracts integration to fund any game they want to create by selling their tokens.
- Using this platform, developers may quickly connect to the liquidity network.
- This platform guarantees a safe payment procedure, eliminating any risk or chance for fraud.
- The platform’s games cost less than those on other platforms like Apple, Google, Microsoft, etc.
- This platform helps to establish and make a wider worldwide community of gamers and cryptocurrency users accessible.
- The complete secrecy of the gamers is advantageous.
- Players can purchase everything in the game without spending any more cash.
- Players can speak with the developers directly if they have any questions.
Last Words
Speaking about this, you should be fully informed of what is happening in the market right now with the fierce competition to survive and flourish whether you are a player or a developer wishing to make your game on this platform.
Tech5 months ago
Food4 months ago
Tech4 weeks ago