Game developers are highly bullish on blockchain technology to come up with new and innovative online gaming experience. According to a new research with video game developers, ‘GameFi’, the introduction of decentralized finance to games, and ‘Play-to-earn’, an economic model that rewards players with real-world financial value, are the most prioritized features of blockchain technology.
Game Developers Bullish On Game-Fi, Governance, And Play-To-Earn
Game developers are bullish on the potential of Game-Fi, Governance, and Play-To-Earn features. Based on a survey of video game developers in the US and UK, the capability of blockchain with the greatest potential in gaming is DeFi (decentralized finance) at (57%). Following this was governance — voting using tokens in a decentralized autonomous organization (48%) and play-to-earn, which rewards players with tokens for gameplay (46%).
Play-to-earn was of significant interest to respondents — 51% of the survey respondents believe that the system would revolutionize the gaming industry, while 47% believe it is ‘interesting but needed more development’. A mere 2% agreed that it was ‘a passing fad’.
Commenting on the findings of the research, Chris Trew, CEO, Stratis, said:
“Web 3.0 and blockchain technologies are changing the nature of gaming and influencing how games are being built. This survey shows we will soon see ‘GameFi’ and ‘Play-to-earn’ features in the latest AAA game releases, which will offer players financial rewards in exchange for their time and attention. People have long speculated about blockchain’s killer app, well now we know, it’s gaming.”
“Stratis already offers an SDK to the Unity engine, and we are planning to add Unreal shortly. We’re seeing hundreds of enquiries from game developers looking for scalable blockchain infrastructure, it’s a level of interest we’ve never seen from any other industry.”
Massive multiplayer online (MMO) and role-playing games (RPGs) To benefit most from blockchain technology
Massive multiplayer online (MMO) and role-playing games (RPGs) will benefit most from blockchain technology, with 47% believing MMOs would be improved by blockchain technology, while 44% said blockchain would transform role-playing and action role-playing games. Meanwhile, 43% and 38% respectively said simulation/sports and multiplayer online battle games would benefit.
Developers are already leveraging blockchain technology — 47% (RPGs), 46% (real-time strategy) and 41% (multiplayer online battle arena).
Joost Rietveld, assistant professor in the Department of Strategy & Entrepreneurship at UCL School of Management, said:
“Video games have long been a springboard for new applications looking to break into the mainstream. The Wii introduced us to motion-sensitive controls, Pokémon Go demonstrated the value of augmented reality, Angry Birds made us understand the ease and simplicity of touch screen controls, and smartphone games helped popularize new revenue models.
“The blockchain may be next. Cryptocurrencies and the blockchain are helping game developers come up with new ways of engaging and rewarding their players. Virtual items can now exist outside of the boundaries of a game and players can be rewarded for their in-game activities with currencies that hold real-world value. If you want to understand how new technologies can be successfully applied, then video games are the space to watch.”
Stratis blockchain offers a platform for deploying decentralized applications incorporating ‘smart contracts’ for automated value exchange. Over $2 Billion in value has been successfully secured on the Stratis public blockchain by hundreds of decentralized sidechain master nodes. Stratis team has deep experience in enterprise technology, gaming, NFTs and DeFi. More than 15 open-source projects have been deployed on Stratis.