The online game has evolved in recent years. Until recently, developers relied primarily on the sale of copies or in-game purchases as their primary income generator, but currently, there is a single term that is becoming more and more commonly used: blockchain. This technology inverts the common notions of the way players engage games and the manner in which value is produced.

But what exactly is changing? What is the reason why blockchain is referred to as a driver of a new economy in the entertainment sector? Let’s figure it out together.

From shopping to owning: a new paradigm

Before, you could purchase beautiful armor or skin, but they always continued to be part of the game. The amount of money expended was a non-ownership investment. Today, with the help of the blockchain, digital items will turn into your property.

All swords, cars, or characters can be symbolized by a token of NFT, which is owned by you and authenticated on the blockchain. This implies that you can either sell the item, trade it, or use it in another game. The developers acquire a new source of income, and the players have a chance of actually owning what they are paying for.

The appearance of such systems is what encourages even conventional gaming platforms to seek other solutions. As an example, the same principles of transparency and ownership are already being adopted in the betting market and sports forecasting market. The Bet City platform is one such site where technology and the integrity of data runtime build confidence between the user and the platform. It can be applied in games as well: you can see what is going on, you can be assured of money, and you can know who owns what. It all makes a belief in digital products.

Why is blockchain beneficial to both players and developers?

Distributed ledger technology is a solution to some of the long-standing issues of the gaming industry. To begin with, it eliminates middlemen. The player can sell or purchase items without the pay to the publisher. Secondly, it makes it more trustworthy: everything can be seen and checked.

Even after the release of the project, game studios have a stable income. Anyway, they will be able to make a commission on every resale of in-game assets. It transforms this game to be a living ecosystem in which money is distributed among gamers as opposed to a single-direction flow.

How players earn in new systems

The gaming sector is shifting towards play-to-earn, where the game can be taken as a source of income. Players earn money by completing tasks, participating in tournaments, or trading in-game assets.

Examples of earnings can be as follows:

  • sale of rare NFT items on the secondary market;
  • getting tokens for activity or achievements;
  • participation in DAO communities where players influence the development of the project.

All this makes gaming not just an entertainment, but a full-fledged economy. But it is important to remember that any income is associated with risk, and success depends on how well the game economy is built.

How monetization will change for studios

Blockchain opens up new ways of monetization for developers. Previously, the main goal was to sell as many copies of the game as possible. Now we need to create a sustainable ecosystem that will be profitable for years.

The main directions of monetization:

  • commissions from trading operations between players;
  • release of NFT limited collections;
  • sale of in-game tokens with real value;
  • partner programs and collaborations with brands.

In addition, the transparency of the blockchain helps studios to prove the honesty of mechanics. This is especially important for games with betting elements and competitive gaming.

Are there any pitfalls?

Sure. Any new technology also carries risks. First of all, the volatility of cryptocurrencies. The value of tokens can plummet, and what cost hundreds of dollars yesterday will turn out to be a dummy today.

Moreover, the regulators of most countries are yet to determine precisely how to regulate the economy through NFTs and tokens. This is to the players that rules may be modified, and projects may vanish without warning.

One should therefore research the platform thoroughly before engaging in gaming assets. In case you cannot be certain of its reliability, it is best to wait on the outside until the market settles down.

Why the future belongs to blockchain anyway

Despite the difficulties, the trend is obvious: blockchain is gradually becoming the standard for the gaming industry. It makes the games fairer, more open, and more sustainable.

Now we are at the origins of the formation of a new digital economy, where value is created not only by developers, but also by players. Ownership of digital assets is becoming a part of identity. People are starting to treat their game items the same way they treat real collections.

Technology continues to evolve. Transaction speeds are increasing, fees are falling, and interfaces are becoming simpler. All this makes blockchain games accessible even for beginners. And the more transparency and trust there is, the more actively new participants will be involved in this process.

Result

Blockchain has already changed the monetization model in online games and continues to transform the industry. It gives you the opportunity to own, trade, create your own assets, and earn money.

The main thing is to approach this with understanding and not lose focus on the very essence of games: they should be enjoyable. If technology helps to make the gameplay more honest and interesting, then it really works for the player.