- Gaming industries are undergoing more developments every day, attracting developers and players to participate in online gaming.
- The gaming environment through tokenization has enabled players and developers to earn through tokenizing their in-game tokes.
- How is the technology benefiting players and developers?
The gaming industry is developing at a higher speed, Blockchain is catalyzing the gaming industry at a higher rate. The gaming industry is showing some exciting developments because of its entertainment purpose. By employing Blockchain technology, the gaming industry allows actual ownership of in-game assets. Blockchain is a decentralized technology, therefore Blockchain gaming is a decentralized industry, this allows players and developers to inherit ownership of their in-game assets.
How is tokenization revolutionizing the gaming industry? In this article, we will be focusing on how tokenization is benefiting game developers and players alike. The opportunities and the doors that gaming tokenization is opening to both players and developers.
Ever since crowdfunding has been the escape boat for gaming developers who want to raise capital to propel their gaming ideas. Crowdfunding has been gaining popularity and demands are higher within the gaming industry. Gaining popularity and achieving more in the gaming industry is becoming a huge compilation, but through its developers and players are turned into stakeholders.
What is Tokenization?
since tokenization is benefiting developers and player, but what is tokenization? Tokenization is a new approach to gamers; it gives players and developers a sense of ownership. Before the introduction of tokenization, investors had an entry barrier to gaming. This created a wall for investors and moreover, they were not given enough initiative. But through tokenization, it presented a fractional ownership.
Through tokenization, developers have a table for a project that they are interested in. Additionally, developers allow players to vote on the factors that can propel a project to their interest.
Asset tokenization is a technology that promises the gaming industry about development. It has the ability to revolutionize the gaming industry, it represents in-game assets as a digital token on the blockchain. Through this, it surfaces a new gaming experience which was never there.
Moreover, it ensures that players and developers can earn through playing games. It enables developers to sell their in-game assets as tokens which are moreover traded in a decentralized exchange. Therefore, how does tokenization benefit developers and players? Let us look at how the technology is playing this vital position.
How Tokenization is Benefiting Developers and Players.
The technology is a game-changer opportunity for developers and players alike, but how does tokenization do this? Below are some of the potential benefits that tokenization offers to individuals.
It allows both developers and players to own the in-game assets. By allowing them to do so, engagement is increased. This means more developers will be willing to develop new games into Blockchain technology, and through this so will the rise of players. Players understand very well that by playing games they will earn more in-game assets, and this will afterwards generate them with money. Additionally, the technology enables players to become stakeholders. They therefore market themselves by engaging in their favorite gaming.
Moreover, players are motivated to play the games more, by selling their in-game assets players engage in the game more. Earning money through playing Blockchain games motivates players to interact in the game more. For instance, when a player is trying to purchase a new in-game feature they are required to participate in playing the game more.
moreover, it enables players to earn money in a different form. By selling in-game assets as tokens. When the players acquire the in-game assets they can send them off as tokens which can later be traded in decentralized exchanges that are supported by blockchain technology. This does not only favor players but also developers, they act as a motivation for developers to come up with more games. Additionally, developers generate income by renting out their in-games to players. Developers charge players to try out various in-game items before purchasing them.
Furthermore, tokenization surfaces interoperability to players and developers. In gaming, it enables players to interact with their in-game assets in other games. For instance, a CoD player can use his/her character as a player in FIFA. These create an engaging and immersive game experience for players. Besides, it has enabled players can use their in-game assets in other games. For example, a player can acquire a certain in-game in a game and still use the same in-game in another game.
Security in tokenization assets is a priority for gamers. For instance, it will be a hard task for fraud to scam gamers. Transactions are all recorded on a public ledger as long as a token asset is involved during transactions. By recording all transactions, it is possible to follow all transactions thus preventing fraudulent activities in the applications. Transactions are however monitored in blockchain, therefore cheating or scamming players is not easily conducted. Additionally, players cannot sell fake in-game assets to other players, blockchain will not record any malicious transaction.
It is obviously noted that asset tokenization is taking over most gaming industries, tokenization is creating opportunities for developers and players in general. Initially, developers were not earning or owning their assets. It has revolutionized the industry by not only being a fun horizon but also an earning arena where developers and players can earn money by participating in games. It has a clear vision; remarkable changes are going to be made in how we will be playing and investing in gaming.