Gaming keeps growing faster than ever before. The gaming industry happens to be valued at $173 billion, with very positive indicators showing that it will surpass the $300 billion mark next five years. Behind this boom is just a recent surge in new players, especially in mobile platforms, which have made gaming a far more practical and readily available experience for the estimated 2.6 billion gamers worldwide.
But for many, being online simply for fun is no further their primary driver. As the word goes, time is money and players have certainly taken observe that they're creating a big investment in virtual experiences with little return. So they've started searching for approaches to monetize their hobby. However, beyond the world of eSports, there haven't even been many opportunities for casual players to money in on the effort they placed into gaming - until now.
The rise of blockchain games has turned the tables on the gaming industry by making players, and not developers, the main financial decision-makers.Play-to-earn (P2E) crypto gaming is a development that shouldn't be overlooked. But before we enter the details, it's worth understanding how all of it works.
What're blockchain games ?
Blockchain is an application of ledger technology that functions as a saving and storing system for information and it can't be hacked, tampered with or else altered. A network's transaction history is, in principle, publicly available. Blockchain powers cryptocurrencies, like Bitcoin and Ethereum, opening an environment of possibilities across virtual economies - and game developers have certainly realized the potential.
Typically, most games may have marketplaces where users can find and exchange items, like weapons, avatars and loot boxes. But they could not own any one of it, even when they paid a real income for it. That's because for nearly all of gaming history, developers followed a centralized model meaning that they've had full control over game dynamics, from the storyline to the game assets collected by players. Since it's all owned by one entity, players have no real ownership of their accounts and items. There's also other limitations associated with this particular model, including insufficient transparency and prospect of manipulation of game mechanics. For more details please visit MRUN.