• With the entry of cryptocurrencies, NFTs and blockchain-based P2E games, the crypto-entertainment arena has raised the level

  • The online gaming industry has been one of the fastest growing industries in the last decade and it is also one of those industries that has embraced technology with open arms. Therefore, the introduction of blockchain-based games, digital currencies and uncounterfeitable tokens in the gaming industry should not come as a surprise.

    Over the past few years, the footprint of the gaming economy has grown considerably, adding several new sectors within it. The number of influencers, gaming content creators and eSports competitions has risen dramatically, driven by the expansion of social media, video sharing and live streaming platforms, all of which have further accelerated the growth and expansion of the gaming ecosystem.

    If you look at some of the highest-grossing games of the past few years, they have all managed to enable fully functional in-game virtual economies that allow game developers to monetize their content. That said, outside of streaming and gaming content creators like Pewdiepie, Pokimane, Dr. Disrespect, KittyPlays, and others, gamers aren’t getting much out of investing in these games.

    However, once game developers started tokenizing assets in their games, gamers were given several mechanisms to reap the rewards from their investment of time and effort. Likewise, blockchain and cryptocurrencies enable gamers and game content creators to test and implement promising revenue-generating opportunities through new economic models.

    With this in mind, let’s take a deeper look at how blockchain games and platforms are bringing about a positive revolution in the ever-evolving world of gaming.

    Projects that are shaping the future of NFT gaming

    As the dominance of NFT games continues to grow, the gaming community is flooded with bots and scalpers who are trying to do everything they can to get every new NFT game before everyone else. Not only is this an extremely problematic scenario, but this practice raises questions about the blockchain’s claim to give everyone equal opportunity.

    Fortunately, the solution to this problem is right around the corner, and Splinterlands, one of the most successful blockchain-based trading card games that has broken all records in recent months, has announced the rollout of its scalpers and bot protection mechanics for the highly anticipated upcoming Chaos Legion update. This massive update will introduce 15 million packs of new NFT trading cards, each consisting of five random cards and costing $4 per pack.

    Splinterlands plans to introduce a unique credential-based allocation system to protect users from bots and scalpers, ensuring fair allocation and equal opportunity for all. If successful, this initiative could provide a mechanism for NFT placement that could be adopted by other NFT gaming programs in the future.

    PARSIQ is another project that aims to bring a variety of additional features to the blockchain gaming scene. Through its revolutionary IQ protocol, PARSIQ has launched the world’s first DeFi protocol to tokenize SaaS subscriptions with a collateral-free revolving economy.

    Using the IQ protocol, NFT and Play to Earn (P2E) game developers can provide players with subscription-based incentives, which will enable more players to participate. For example, instead of recurring monthly passes or top-ups, game developers can generate lifetime value tokens that give players access to special benefits and gameplay options for a specific period of time. Instead of forcing players to buy in-game assets like new skins or legendary guns outright, game developers could allow players to “rent” these items for a fixed period of time.

    IQ protocols can also facilitate the growing P2E blockchain gaming model. Through a comprehensive set of trustless smart protocols, players can seamlessly trade their game assets on a secondary market. Additionally, the IQ protocol can be used to facilitate risk-free rental pools within the NFT gaming community. Instead of buying it at full price, game developers can employ the protocol to help players rent NFT in any game and try it out for a fixed period of time at a fair price.

    The next project to reshape the industry is geared towards the gaming content creator community.Creaton, a Web 3.0 platform for subscription-based content sharing, will launch in the coming weeks, offering creators full ownership and control over their content.Creaton is hosted on the Polygon blockchain network, offering affordable gas fees and fast transactions, while connecting to other prominent blockchain networks to connect.

    Unlike Web 2.0 content sharing platforms, Creaton ensures that artists retain full ownership of their work and corresponding compensation. Any artist using the platform can accept paid memberships from their followers and subscribers through Superfluif’s payment mechanism. All paid subscriptions are immediately converted to Bitcoin (BTC) by Creaton.

    To protect each creator’s content, Creaton encrypts and stores all data in Arweave’s decentralized storage via the Lit protocol. By integrating smart contracts and various blockchain technologies, Cretaon enables artists to limit their work to a limited and exclusive audience, thus preventing censorship, payment delays, and other similar issues typically faced on Web 2.0 content sharing platforms.

    What's your reaction?
    Happy0
    Lol0
    Wow0
    Wtf0
    Sad0
    Angry0
    Rip0