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Blockchain Technology Is Booming in The Video Games Industry – mxdwn.com

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Recent research conducted by the insight agency Opinium suggested that 47% of respondents out of 197 video game developers based in the US and UK have already incorporated NFTs, nonfungible tokens, into their games. 58% of them are beginning to use blockchain technology. According to the study, the top three benefits of blockchain technology for the video game industry are innovative gameplay(61%), securing value for players by keeping money in the game(55%), and rewarding players with real-world value(54%). Game publisher Electronic Arts(EA) has also just said that NFTs are an important part of the future of the video games industry. The FIFA football series created by EA uses “card packs” to “collect” players in its Ultimate Team mode. Andrew Wilson, the CEO of Electronic Arts, believes that FIFA players want to see NFTs in the franchise. “They want more digital experiences outside the game – esports, NFTs, broader sports consumption and they want us to move really, really quickly.”

The booming of blockchain technology is closely connected to the concept of metaverse. Gamers want to play games outside the limitations of the games. With blockchain technology and NFTs in motion, gamers will be able to collect digital properties that are irreplaceable, things they can truly consider their “own” thanks to their originality being protected by code. The increasing awareness of the metaverse is also a sign that blockchain technology is gradually becoming essential to the video game industry. “The promise of the metaverse is that it will provide users an augmented reality experience that – in many ways – might exceed physical reality in terms of the experiences and opportunities therein.” Says Sean Stein Smith from Forbes.

If the promise ever becomes fulfilled, NFTs will almost definitely skyrocket in value or even become a necessity in our lives. There will be no boundary left between the two worlds when the virtual world becomes a part of the real world, or even the real world itself. While it might be exciting to look forward to the burgeoning metaverse and blockchain technology, it can also be somewhat terrifying. Reality is broken. Who knows what the future holds?


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Source: https://games.mxdwn.com/news/blockchain-technology-is-booming-in-the-video-games-industry/

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