How Blockchain Games Are Disrupting the Gaming Industry – See the Untold Story!
Blockchain Games
Welcome to Hoken Tech.
Blockchain games are defined as games that integrate blockchain technology, often using NFTs or cryptocurrencies to represent in-game assets.
According to Chainlink Education, these games enhance the gaming experience by redefining the relationship between players and developers, making it more fair and transparent.
Detailed Advantages of Blockchain Games
Research highlights multiple advantages, supported by market analysis and specific studies:
- Real Ownership: In traditional games, assets are centralized and non-transferable. With blockchain, assets become NFTs, allowing players to truly own them. For example, armor purchased in a game can be sold on a decentralized marketplace. This creates real value, with 85% of respondents in a BGA survey considering ownership a key advantage, according to Innovation Blockchain in Gaming.
- Transparency: Blockchain offers a public and immutable ledger, ensuring all transactions are verifiable. This is crucial for preventing fraud, as players can verify the rarity of items, as shown in Chainalysis Blockchain Gaming.
- Security: Decentralization reduces hacking risks, with encrypted transactions verified by nodes, which is particularly important considering the vulnerabilities of centralized servers.
- New Earning Models: Play-to-earn games, like Axie Infinity, allow players to earn cryptocurrencies, while developers can receive royalties from secondary sales. This creates a more sustainable ecosystem, with 74% of BGA respondents seeing new revenue models as a benefit, according to Imaginovation.
- Interoperability: Assets can be used across multiple games, expanding the market. This is an emerging advantage, though still limited by technical challenges, from Chainalysis data.
Market Statistics
The blockchain gaming market is growing rapidly. According to IMARC Group Blockchain Gaming research, the global Blockchain Gaming Market exceeded $4.6 billion in 2022 and is projected to reach $65.7 billion by the end of 2027, recording a CAGR of 70.3% for the anticipated period of 2022-2027.
The rise in investments in blockchain games is driving industry growth. The shift from traditional games to blockchain-based games is a significant driver, as blockchain gaming enables players to own in-game digital assets.
Gamers can now use rewards and in-game items across different crypto-gaming projects, creating real-world value through Play-To-Earn (P2E) models.
Role of Hoken Tech
Hoken Tech, an Italian startup, positions itself as a leader in the sector with solutions such as:
- Customizable Blockchain Games: They provide turnkey web3 games, ready to use, which brands can customize. An example is Kind Hero, the first blockchain game for the largest event in southern Italy "MolFest," a themed card game about the city of Molfetta, promoting tourism through NFTs.
- Portable NFT Distributors: Tools to distribute NFTs, useful for brands to connect with customers.
- NFT Collections: They help brands create and manage NFT collections, expanding engagement opportunities.
Another example is Leap to NFT for GameBoy, a blockchain game that combines nostalgia and innovation. These efforts demonstrate how Hoken Tech is creating interactive experiences, benefiting both brands and players, with a focus on customized and accessible solutions.
Conclusion
The market growth and innovation from companies like Hoken Tech suggest a promising future. With market projections reaching billions of dollars, and solutions like those from Hoken Tech integrating NFTs and games, the sector seems destined to transform the gaming industry, offering new opportunities for players and brands.
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