Report: 60% of video game developers already use blockchain

Report: 60% of video game developers already use blockchain

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Answer Report: 60% of video game developers already use blockchain

A survey conducted by software company Stratis revealed that 58% of American and British video game developers have incorporated blockchain technology into their game development endeavours.

And 47% of these developers have integrated non-fungible tokens into their games.

Blockchain is the future of video games:

The study and survey included 197 video game developers in the United States of America and the United Kingdom.

Regardless of those who are already using blockchain and NFT technologies, the rest of the participants are also optimistic, as 72% said they would consider using blockchain technology to develop new games.

56% plan to do so in the next year.

When asked if they think blockchain technology will become dominant in video games within the next 24 months, 64% of respondents answered “yes.”

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According to 61% of developers, blockchain technology allows for innovative and more exciting gameplay.

55% of respondents said that blockchain provides value to players by keeping money in the game.

Notably, 46% of developers’ interest in blockchain is focused on the popular “Play-to-Earn” business model.

In this regard, Jean-Philippe Vergne, Associate Professor at UCL’s School of Management, commented:

Blockchain is quickly becoming an essential building block for online gaming.

What the blockchain enables is incredibly compelling, players can now earn cryptocurrency while playing and trade digital goods in and through games.

Chris Trio, CEO of Stratis, has predicted that most of the early growth in for-profit gaming will come from emerging economies.

He concluded that at a later stage, this transfer of wealth could transform the global economy.

What is the play-for-earning model?

The Play-to-Earn model is a business model, where users can play a game and earn a reward in the form of in-game digital assets.

The key component of this model is to give players ownership of these assets and enable them to increase their value by actively playing the game.

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The main idea of ​​“Play-to-Earn” is to reward players for putting their time and effort into the game.

By participating in a specific game, players create value for other players in the ecosystem and developers.

In return, they get a reward in the form of a potential appreciation of in-game assets, which can be a specific type of cryptocurrency.

Some of the most famous examples of these games:

“Axie Infinity”, “Decentraland” and “Sandbox”.

Read also:

Mexican company launches blockchain-powered coronavirus test certificates

How will games benefit from NFT tokens?

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