How is Blockchain Technology Evolving The Gaming Industry?
By Suffescom Solutions
February 23, 2023
The gaming industry has witnessed a booming rise in its business after 2019, with the total revenue in 2021 being 180.3$ billion. The world worked digitally through the pandemic era, and the players benefited most. China is the leading blockchain-gaming world, and a billion gamers hail of South Asian descent. The present-day gamers aren't just limited to playing in the shadows as a hobby but are combining skills with income. Thanks to Blockchain's power and the numerous gaming industry business models.
Do you prefer to upgrade your gaming business with blockchain-powered technology? If yes, you are at the right place; Suffescom Solutions Inc. embraces the power of blockchain in the digital world and has more than 13 years of experience in the Blockchain world. Knock the doors of an ideal Blockchain Development Company like Suffescom Solutions Inc. for your dream blockchain game that is made with perfection and precision.
In this article, we will discuss some critical points about the evolution and success of Blockchain-video games.
Framework For Various Business Models In The Video Game Industry
The scope of increasing your ROI after investing in the power of blockchain is massive, as game owners can choose the mode of delivering their final product to their users. Let us look at some ways game creators prefer launching their games in:
Retail Model
This business model is originally how video games in the classic, vintage phase were sold. The gamers can just pick up the game from a retail store of Video-games to download and play the game. Unlike the never-ending Blockchain games, these games were a waste after finishing all the levels that the game offered.
Subscription Model
This model is highly used in today’s Web3 world, as the games are embedded with certain premium features reserved for the ones who pay a subscription fee. This model best suits game developers dreaming of boosting their revenue charts in a shorter time frame.
Advertising Model
Sponsors build these games, and the game is filled with advertisements in the form of Billboards and banners.
Micro-Transaction Model
Micro-transaction models often come along in free-to-play games where some virtual items present in the games can be purchased via Microtransactions.
Comparing Traditional Games With The Blockchain Games
The traditional games were, without a doubt, a forerunner for the modern-day blockchain games. Vintage gaming was all about the centralized set of rules that the gamers had to follow; the options were limited with no chances of earnings. The entrance of Blockchain into gaming got a reformation in gaming history. When backed up by a distributed-ledger technology, the traditional games had made the gamers the rulers and runners of the games.
Some recent games like Axie infinity were based on the evergreen Pokemon Series of the 1990s. The concept of “evolve and battle” was adopted from the vintage games and fused with a blockchain-powered technology.
Choosing The Correct Blockchain Game Development Solutions
Break through the gaming market and outpace your competitors by building games on blockchain networks. Get in touch with us now.
Why Invest In The Blockchain Gaming Industry?
Before discussing the different business models in the blockchain world, let us discuss some potential factors that reassure investing in the gaming industry.
Blockchain Rewards in Play-to-Earn Models
The rewards your gamers will earn will be massive, in millions. The blockchain industry has provided various platforms with opportunities to earn cryptocurrency. Rewarding systems have kept the players buckled up in their gaming seats.
NFT Generation Capabilities
The growth of NFTs has made the digital world boom like a firecracker; the NFTs are not just limited to a collection of mere digital arts but also involve several in-game assets, and even the characters are selling off as NFTs at the marketplaces.
Multiple Blockchain Development Companies
There is a bucket full of Blockchain Development companes in the market. But sometimes they fail to deliver the product on time with reliable customer support. Suffescom Solutions Inc. has been in the blockchain business for years and never misses a customer’s query even after it has delivered the product on time.
Perks of Cryptocurrencies
Cryptocurrency is the modern-day digital gold; an effective investment can make profits in millions. While investing in a blockchain game, the assets will be sold and purchased by bidding in cryptocurrencies. The crypto-flow in your game will only assure wonders to your revenue expectations.
Numerous Business Models In Gaming of The Blockchain World
Move-to-Earn Model
The newest buzz in the tech world is the rise of the move-to-earn model of games. The m2e game works precisely like the play-to-earn models but is suited for health and fitness. Move-to-earn games have NFTs in the form of sneakers or other sport-related gadgets that the players can select. The players of the m2e game get rewards after they jog, sprint, or run. STEPN is precisely one such example of a Move-to-earn game. The rewards the m2e game players earn can be used to buy in-game assets or make crypto and reinvest.
Even DUSTLAND, the first move-to-earn audio and fitness game that is blockchain-backed, moves to earn a game in which the character ought to race over the DustLand and earn the native in-game currency to unlock a varied set of rewards.
Dustland’s not just a concept and a dream but a phenomenal reality where you can connect your bike through your sensor and play the game to earn the native currency called “DOSE.” The game also has a storyline that takes us into the near future, where zombies and other horrific creatures inhabit the earth, and the character must run past them without dying.
Are you looking for an opportunity to invest in Move to Earn Game Development? Suffescom has many options and suggestions for you that you should not risk missing. Connect with us; we await you.
Free-to-Play Model
This design is used to serve an online game free of charge for the users. Even the free-to-play models in the gaming economy give high revenue via subscription models where a single user can spend 5$-15$ a month just to buy a skin or skip constant advertisements.
The biggest name in this business is Fortnite, a game that is F2P but has the users emptying their wallets for tremendous in-game assets like character skin and weapons. The most recent NFTs released on the platform can be purchased by paying for them. Fortnite’s free-to-play model symbolizes the rising power metaverse where the platform conducts events like virtual concerts apart from free play.
Play-to-Earn Model
The most widely used model is the play-to-earn model of blockchain games. The blockchain games in the play-to-earn model involve playing games in the form of quests and battles to earn rewards in the form of cryptocurrencies. The play-to-earn gaming model has also been termed “Game-Fi,” fusing gaming with finance.
Every blockchain game has a native token currency that the users can earn while winning the challenges and later exchange it for Crypto Exchange Platforms.
Play-to-earn game development is the sole representation of adding income to skills flawlessly. With it, the hobbies turn into a source of investing in a futuristic world that will be ruled by crypto and blockchain.
Axie Infinity is the most talked about game in the blockchain industry. This game has generated millions of revenue and has in-game currency, SLP, and AXN. Each animal is blessed with a set of powers inherited via genes. Rewards are won by battling these Axies amongst each other and breeding more to keep the player ranking high.
Why is Suffescom Solutions Inc. Your Ideal P2E NFT Game Development Company?
Flawless Transparency
We ensure complete transparency in our games that are traceable enough to set a genuine example for fair play.
Pause-Free Payments
Suffescom delivers faultless products that offer seamless payments while transactions occur in the form of cryptocurrency. The transactions are completely safe and secure under the shadows of Decentralization.
Trading at NFT Marketplace
The NFT bidding and trading with an unchangeable transaction record-keeping is the golden opportunity that Suffescom Solutions proudly provides.
True Ownership
NFTs are traceable, and we offer fully verified and traceable NFTs on our platforms to minimize ownership disputes.
Interoperability
The ability to easily share information around numerous blockchain networks is achieved by the services we offer in no time.
Widely Distributed Audiences
Suffescom Solutions Inc. has more than 1200 clients spread across the globe. Our Blockchain-based services are unbeatable and are well-known in the Blockchain Industry.
In-Depth Analysis
Our blockchain experts know the benefits of an in-depth study of our client's business ideas and then working accordingly with their requirements. We are on time with 24*7 support, even after delivering the product.
Perks Of Blockchain In Gaming:
Breathtaking Gaming Experience
With the resurfacing of high-quality graphics, for a say, in the AAA category games, the gaming experience is ultimate, emphasizing small details like dust.
Authenticity of Ownership
The strength of NFTs lies in their authenticity. Digital Arts in the form of NFTs have a branding that will always be traceable to its actual owner. The owner never lacks a share in the value of their work.
Drifted by Players
The blockchain games are run by the players, who even get to vote to add any new features to the game. The players enjoy the benefits of a decentralized network, and from selling NFTs to adding new features, the players remain in charge. The wish makes 15% of the games’ rules for the players.
Cost Efficiency
Blockchain enters the gaming industry with impeccable micro-transactions benefits wherein the gamers can buy In-game assets at a lower price without the game makers' loss. High prices will limit the sale of the NFTs in blockchain based-games, so a comparatively lesser price will pave the way for increased gamers traffic and engagement.
Hire Expert Blockchain Game Developers For Your Next Project
Suffescom Solutions Inc. has more than 1200 clients spread across the globe. Our Blockchain-based gaming services are unbeatable and are well-known in the Blockchain Industry.
Safe for Payments
The payments made in the blockchain video game industry are decentralized, so there are zero chances of a scammer stepping in to steal your credit/debit card data. The online games without DeFi are always at risk of massive scams. Regular inspections of smart contracts will make it almost impossible to steal data via bugs in the smart contracts.
Reaching The Bottom Line
The paradigm shift from traditional to blockchain-based games needs to highlight the situation of the present economy. To achieve sustainability in the economy, you have to ensure that your gamers provide more assets than the game. The funding methods offered by blockchain games can give small businesses a much-needed chance to invest in return for some assets.
The dream of your ideal P2E game development can only be true when there is trust between the gamers and the developers. Remember, your gamers aren't just a community or skilled players but also investors.
Get in touch with our team to get some more light and flourish your gaming businesses effectively.
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