The continuous evolution of the gaming industry has allowed new technologies to improve players’ experiences. For example, AR (Augmented Reality) and VR (Virtual Reality) introduced interactive elements and technical advancements by combining 3D graphics and real-time ecosystems to make games considerably realistic.
One of the latest additions is cryptocurrency and blockchain, which aim to decentralize the industry and promote transparency, innovation, and user data safety. Developers use blockchains to create games and suites while benefiting from advanced data encryption and privacy, as well as digital ownership of in-game assets.
Conversely, cryptocurrencies are useful for in-game purchases and trades or earning through play. Token projects that work toward the Web3 ecosystem are usually best for gaming, such as Shiba Inu, a meme cryptocurrency that gained popularity through community support and innovative use cases.
The Dogecoin killer has its own metaverse and gaming environment, and its NFT collection, Shiboshis, is one of the most popular in the market today, according to SHIB news today. Therefore, Shiba Inu has many features that make it suitable for gaming, so let’s see how important cryptocurrencies are in gaming.
Crypto Gaming And Blockchain Technology
Decentralized gaming has similar features to regular games, including incentives. However, the new GameFi model includes various types of benefits for gamers, from native gaming tokens to NFTs (non-fungible tokens). Players can use these rewards to buy in-game assets, other NFTs, and avatars. In some cases, they can exchange these tokens and withdraw the currencies.
Blockchain technology includes different approaches to Web3 to allow distributed ledgers to be useful and store cryptocurrencies. This makes the play-to-earn sector worthy of development, as rewards can be of real-world value.
These innovative technologies provide:
- Ownership of in-game assets that increases player engagement and makes gaming immersive;
- Enhanced security by tracking in-game asset ownership and reducing fraud;
- An elevated gaming experience backed by an additional income stream;
How Do Various Crypto Projects Contribute To Gaming?
Every crypto project has a specific path towards Web3 adoption. Some aim to become global ledger, such as Bitcoin, while others shift their attention towards decentralization, including gaming, such as Shiba Inu. The fun dog meme developed several technologies to become of use in the industry, such as the following:
- SHIB: The Metaverse incorporates games and ecosystems with which the community can interact. Besides the main token, users can explore income streams with $LEASH and $BONE;
- The Shiba Eternity, a game card with Shiboshis, in-game characters similar to the NFT collection;
- The Shiboshis NFT collection of 10,000 cards created on the Ethereum Chain whose popularity boomed during the NFT craze a few years ago;
Shiba Inu is a great solution for custodial payments in gaming due to its low fees and auto-conversion to fiat options. However, other projects contribute to gaming as well, such as:
- Ethereum, the innovative blockchain that provides some of the best tools for developing games and ecosystems on the market;
- Solana, the ledger that offers high throughput and low fees to help developers unleash their creativity;
- Polygon is the best blockchain for fast confirmation times and high scalability, both important for top-notch gaming;
What Are Some Of The Best-Decentralized Games On The Market?
Decentralized gaming might not be that popular for now, but it’s slowly gaining users’ trust, especially with the challenges in traditional gaming. Regardless, cryptocurrency is heavily leveraged in games like the following:
- Axie Infinity lives on the Ronin blockchain and allows gamers to play with cute digital pets called Axies. Users can buy, breed, and battle Axies to earn the native currency AXS;
- Gods Unchained was created on the Ethereum blockchain and is a collectible trading card game. Gamers can build unique card decks with rarities they can sell or trade;
- Decentraland is created on the Ethereum blockchain as a 3D virtual world where users can make accessories for their avatars and explore worlds;
While most decentralized games have their native cryptocurrencies as rewards, some accept a variety of tokens for play-to-earn games, considering how well the industry evolved. At the same time, there are more innovative revenue streams that encourage players to engage with the decentralized ecosystems.
What Are The Risks Of Decentralized Games?
GameFi is still a young sector, so it’s no wonder it’s not perfect yet. While decentralized games are more player-driven than traditional ones, technical know-how is still a major challenge for developers and users. Creating a decentralized game without bugs and vulnerabilities is not that easy, and setting up a cryptocurrency wallet or protecting one’s key phrases might be difficult for some gamers.
At the same time, ensuring scalability is tricky because decentralized games might receive sudden attention from communities but fail to sustain the increasing number of users on their platforms. This makes them prone to slow transaction speeds and high transaction costs, so there might not be that much of a benefit in comparison with traditional games.
Finally, interoperability is the biggest challenge in decentralized gaming because the technology is yet to be fully established. Blockchains will have to communicate with each other safely to ensure users can access a varied array of products and services, but this is currently underway.
Currently, blockchains are seeking solutions to reach interoperability, from open frameworks to cross-chain communication. Ledgers like Solana or Ethereum are actively contributing to the development of interoperability, but the decentralized gaming industry will have to wait until ecosystems are safe for exchanging data and in-game assets. What’s most important is that gamers know how to protect themselves from unsafe ledgers and choose to play only on trustworthy blockchains.
Have You Tried Playing A Decentralized Game Yet?
Decentralized games have many Web features, including cryptocurrency and blockchain. These technologies provide GameFi products with more benefits than traditional games, especially regarding the reward system that includes both tokens and NFTs. Different blockchains, like Ethereum and Solana, help the industry grow through their advanced features of smart contracts and world-building tools, which is why we’ve got an increasing number of decentralized games on the market.
