The Future Of Blockchain Gaming: Metaverses, Decentralization, Ownership, Inc...
As blockchain technology weaves golden threads into exciting new use cases, promising solutions like cryptocurrencies, NFTs, and DeFi are continuously gaining more attention, cementing themselves as significant contributors to overall ecosystem growth. Amidst this growing marketplace, blockchain gaming is another promising sector that has proven its potential. Because blockchain games facilitate the play-to-earn (P2E) model, there has been a surge in demand for such games, partly driven by the economic crises due to the Covid-19 pandemic. Per data from the BGA Blockchain Game Report, more....
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Siu noted that the Metaverse won’t be a single or central entity but a combination of several metaverses. The $200 billion gaming industry is rapidly becoming a key point of interaction between Web2 and Web3. In recent times, a growing number of gaming companies have integrated digital wallet support and nonfungible token (NFT)-based reward systems and even launched their own metaverses.The growing prominence of GameFi in the Web3 economy makes the likes of Animoca Brands believe that it would become an onboarding point for the Metaverse. During the Future Blockchain Summit, Animoca Brands....
When anonymous developer Satoshi Nakamoto launched Bitcoin in January of 2009, nobody knew how impactful cryptocurrency would become. While rumors regarding its potential floated about, cryptocurrency changing the world was just a far-off pipe dream. Today, it’s all coming true, and what started as an experimental payment system for the techiest of the techies is disrupting industries worldwide; gaming included. In hindsight, it’s no surprise that digital currency and digital worlds go together – cryptocurrency fits gaming like a glove. With the help of related blockchain technologies like....
Non-Fungible Tokens (NFTs) have become the go-to killer application for the gaming sector. The reason is simple: NFTs are a form of asset whose ownership is recorded on Blockchain and corresponds to a unique and specific digital piece of art, image, video – or in-game tool. This means that, for the first time ever, gamers can finally earn money with their talent (play-to-earn gaming), and metaverses can turn gameplay elements (characters, accessories, and even virtual land) into tradable assets with real-world value. Unsurprisingly, NFT gaming is experiencing a head-spinning period....
“We believe strongly that there will be some element of play-to-earn or play-and-earn in most games within the next few years,” said WAX executive Michael Rubinelli. With blockchain slowly finding its way into the video gaming industry, sector veterans and executives of nonfungible token (NFT) blockchain WAX believe that there will be more connections between games and blockchain networks in the future.In a Cointelegraph interview, WAX head of publishing David Kim and WAX Studios head of game studios Michael Rubinelli shared their insights on NFTs, the metaverse and blockchain....
Yat Siu thinks it's only a matter of time until more advanced models of NFT gaming are created, designed around the ideas of digital ownership, interoperability and economic utility. Animoca Brands co-founder Yat Siu believes nonfungible token (NFT) games are only scratching the surface of what's possible and predicts completely new models of gaming will be developed as a result of digital ownership.Speaking to Cointelegraph, Siu likened the potential growth of NFT gaming to mobile phone gaming, which started out relatively niche and clunky in its formative stages before rocketing to....