The Rise of Blockchain in Gaming
A new study from the United Kingdom has shown that game studios are not just dabbling, but diving headfirst into the world of blockchain technology. Commissioned by blockchain platform Stratis and executed by research agency Opinion, this extensive survey of 197 video game developers in the US and UK reveals that a hearty 58% are already integrating this tech into their upcoming titles. Talk about jumping on the blockchain bandwagon!
Nonfungible Tokens: The Game Changer
But wait, there’s more! Nearly half of those surveyed—47% to be precise—are beginning to incorporate nonfungible tokens (NFTs) into their games. Who knew that digital collectibles would be the new shiny toys for gamers? Two-thirds of respondents predict a burgeoning presence of blockchain in the industry within the next two years.
Fast Adoption Ahead
If you think this sounds like a gold rush, you’re spot on! A whopping 72% of developers are considering the use of blockchain and NFTs in upcoming games, with more than half (56%) planning to implement these technologies within the next 12 months. This isn’t just a trend; it’s the future of gaming. CEO of Stratis, Chris Trew, believes this tech will transform gaming as we know it. “Historically, games have been pay-to-play, and the value accrued only to companies and platforms,” Trew said. “Now, blockchain and NFTs turn this upside-down.”
What’s in it for Players?
So, what’s the attraction here? The study identified three main benefits of blockchain for the gaming industry:
- Innovative gameplay (61%)
- Securing value for players by keeping money in the game (55%)
- Rewarding players with real-world value (54%)
It’s not just a play, it’s a stake in the digital world!
Big Players vs. Indie Developers
While indie game developers were the first to jump on the blockchain and NFT bandwagon (with around 20 lined up with Stratis), the AAA giants like Ubisoft and EA are also peeking into the promised land. Epic Games has even opened its doors to blockchain games. The writing is on the wall, or should I say, the blockchain!
The Future: Play-to-Earn Models
As the study suggests, game developers are increasingly interested in aspects such as decentralized finance (57%) and the play-to-earn model (46%). NFTs are reshaping how players engage and earn in the gaming world, with Trew stating, “Gamers are passionate. Giving them a chance to own a stake in the game is revolutionary.” And who wouldn’t want to earn while playing in the metaverse?
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