One of the latest yet emerging technologies, Blockchain technology will come up aces for gaming payments by turning what has been noticed as a spare activity into a potentially economic endeavor.
Owing to the risk of assets getting duplicated, gaming industry usually store in-game assets on the centralized servers. Though, this means that gamers don’t really own their bought digital asses, and don’t have the capacity to buy, sell and trade assets outside of the game. At present, if the gamer is willing to trade or sell virtual assets, then they would need to do it through non-traditional means.
Blockchain gives full transparency and decentralized control of digital assets. That means, players will get the ownership of their digital assets for sure. They will even be able to exchange these assets with the other players, and for the assets on other games rapidly. Gamers will be able to use their digital currencies throughout different games, offering players with a more personalized experience in video gaming.
Through the tokenization of platforms, gamers would earn tokens for reviewing, playing or sharing the games on social media. They will also get incentivized for giving reviews and feedbacks to the developers, which would last with the some major improvements in the games available. Blockchain will let gamers’ activities to be traced, and then rewarded instantly and accurately.
Since blockchain is an immutable ledger which not just records all the transactions but also allows players to use their account throughout the games services, gamers’ interactions trading of in-game items and player history are dependably traced and documented. Making such records publicly available, a player’s reputation is linked to the blockchain. Therefore it would result in encouraging good behavior inside the community. This fosters a safer gaming environment, providing value to those with credible reputations, and encouraging transparency inside the gaming ecosystem.