Gaming on blockchain, developers confirm the trend
Gaming on blockchain, developers confirm the trend
Gaming

Gaming on blockchain, developers confirm the trend

By Vincenzo Cacioppoli - 14 Nov 2021

Chevron down
Listen this article
download

The fact that the gaming world is increasingly linked to the blockchain and cryptocurrency world seemed to be an established trend. Now, a study commissioned by the specialist company Stratis, has certified that at least in the UK and the US, most developers of new games are using blockchain technology.

Stratis’ study on blockchain gaming

The study, which surveyed 197 of the major players in the gaming world, found that 58% are starting to use blockchain to develop their games. In addition, 48% of them are incorporating NFT elements into their games, according to the study.

Stratis CEO Chris Trew, said about the study:

“We commissioned this research to solidify what we already assumed – that blockchain and NFTs are the future of video games”.

54% of respondents to the Stratis survey said they saw the possibility of rewarding players with real value as a real turning point for the gamer’s own experience, who will feel much more engaged and involved.

Gaming and DeFi: an increasingly close relationship

Jean-Philippe Vergne, associate professor at the UCL School of Management, said recently that blockchain is fast becoming an increasingly fundamental element of online gaming. 

“The rise of esports in the past decade has already indicated that there were many players out there who were willing to make gaming their primary income source. Blockchain is riding on this wave and making the opportunity available to all in a more transparent fashion”.

What has certainly helped expand the trend is the explosion of NFTs and DeFi, which seem to have found one of their ideal ecosystems in gaming.

Gaming on blockchain
Gaming on blockchain, a new trend

For example, Sorare, a company that has created a sort of virtual fantasy football with digital cards to be traded in NFT auctions, is experiencing impressive growth rates. It recently successfully closed a Series B round by raising $680 million.

Huobi, one of the world’s largest cryptocurrency exchanges, recently announced that it has set up a $10m investment fund in the GameFi sector.

Binance, the world’s largest and best-known exchange, has decided to invest in a new GameFi game from Timi Studio Group.

Play to Earn

What makes blockchain and DeFi the most interesting, according to industry experts, is precisely the “play to earn” feature, i.e. that mechanism through NFTs or tokens to make the game not only more interesting and engaging but also profitable as gamers can earn while playing.

According to a recent September survey by Dapp, GameFi players are reported to have exceeded one million, and are growing steadily each month.

The report reads:

“Not only has the gaming sector more than doubled its popularity from last month, but it is outperforming two of the most important pillars of the blockchain industry. Despite the latest explosion in popularity of NFTs and a more consolidated DeFi space, the gaming sector is driving value in the form of usage”.

Vincenzo Cacioppoli

Vincenzo was born in Genova but lived most of his life in Milan. He has a degree in political science. He is a journalist, blogger, writer, and marketing and digital advertising expert. After a long experience in traditional marketing, he started working with the web and digital advertising in 2011, creating a company called Le enfants. Passionate about the web and innovation, in 2018 he started exploring the topics related to blockchain technology and cryptocurrencies. Independent cryptocurrency trader since March 2018, he now collaborates with companies in the sector as a content marketing specialist. In his blog. mediateccando.blogspot.com, he has long been primarily focused on blockchain, which he considers to be the greatest technological innovation after the Internet. His first book about blockchain and fintech is scheduled for release in November.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.