Back in 1981, Mario video games gained immense popularity among gamers under the name Jumpman. Fast forward to today, Donkey Kong has become a global sensation and a beloved game among Nintendo enthusiasts. The gaming industry has evolved significantly, with computer graphics captivating millions of hearts.
Graphic advancements have not only pushed technological boundaries but have also paved the way for the rise of mobile gaming, fueled by the smartphone culture. Players can now enjoy their favorite games on the go, even while at work. According to a researcher from a blockchain technology firm, having your favorite game accessible on your mobile device enhances the gaming experience. In 2018, Asia’s mobile gaming sector raked in an annual revenue of US$41.5 billion, indicating a lucrative future for the industry driven by blockchain technology.
The Potential of Blockchain Technology to Boost Industry Profits
The gaming industry has embraced blockchain technology, albeit in its nascent stages. Several games leveraging blockchain technology are generating substantial revenue in the current market. CryptoKitties stands out as the most sought-after game on the blockchain network, allowing players to buy, breed, and trade digital kittens using cryptocurrency. Launched in October 2017, the game amassed a profit of $12 million within three months, despite being fully available for just a week.
With blockchain technology, not only game developers but also players can reap financial rewards. Games like CryptoKitties enable players to monetize their tokens by selling their kittens to other players. The unique nature of non-fungible tokens ensures their authenticity on the blockchain network, making them highly valuable assets.
How Technology Benefits the Gaming Industry
Blockchain technology offers significant advantages to both game developers and players. However, challenges exist, such as the lack of dedicated distribution channels for cryptocurrency-based mobile games on platforms like Google Play and the Apple Store. While blockchain technology is still evolving and faces limitations in supporting a high volume of transactions, innovative solutions are emerging.
Game developers are striving to create blockchain-compatible games that cater to mobile gamers’ preferences. Despite initial setbacks like app crashes due to overwhelming demand, advancements like TomoChain’s TomoZ and Tomo X protocols are revolutionizing the gaming landscape by enabling decentralized transactions across different games without third-party involvement.
Overcoming Blockchain Technology Challenges in the Gaming Industry
While blockchain technology presents challenges for highly interactive games, ongoing developments like Axie Infinity showcase its potential for immersive gaming experiences. Game developers are adapting to integrate blockchain technology seamlessly into their offerings, with platforms like TomoChain providing a user-friendly environment for secure gameplay.
