Gaming has been central to the entertainment of billions of people worldwide. From the launch of the very first video game, “Tennis for Two,” in 1958 to the high graphics, extremely immersive games of today, the industry has had the wildest evolution imaginable.
It was estimated at $336 billion in 2021 and would reach a valuation of $461 billion by 2025.
In this evolution of gaming, the most significant next step seems to be the ongoing convergence of blockchain, non-fungible tokens, and cryptocurrencies with the traditional gaming industry. Reflecting on this advancement, Justin Kan, the co-founder of the world’s largest game streaming platform, Twitch, tweeted:
“Yeah, I built Twitch, it has millions of users and gaming NFTs are way bigger.”
This niche industry generated $2.3 billion in the third-quarter revenue of 2021 and has been taking strides to mass adoption with games like Axie Infinity, Sandbox, and Xchange Monster. Video game giants Ubisoft and Zynga have also forayed into the crypto gaming space and have poured in massive investments to make blockchain gaming possible.
So, in this article, we’ll tell you why blockchain gaming is the next big thing for the gaming industry and how Xchange Monster is bridging the gap between crypto and the gaming community.
The Case for Blockchain Gaming
Blockchain and crypto have brought forth a paradigm shift in the gaming industry in dealing with perpetual issues such as centralization and the potential for the gaming experience to be lucrative.
The community of players, in general, has had the effect of unlocking the links of the “community” and improving the gaming experience of users. This took the form of tips, tricks, gameplays, talks about newest or expected features, shared experiences, and more. This is what makes gaming a rich social experience.
Blockchain games are empowering gamers to take back the reigns of the game in its true sense. Through tokenization of in-game assets, gamers are able to monetize their gaming experience through portable collectibles from the games they play & activities they undertake within the game.
However, there has been resistance and skepticism from gamers to participate in the GameFi revolution due to Ponzi schemes, pump and dump, sack draws and even concerns about the environmental impact of games. NFT games. Additionally, the quality of most blockchain games leaves much more to be desired and does not compare to the immersive gameplay, graphics, and creativity of top-rated game titles.
But that’s changing!
Xchange Monster: Making Blockchain Gaming Better for Gamers
Xchange Monster’s platform helps the gaming community embrace crypto by empowering game developers and empowering gamers while making blockchain gaming UX more engaging and engaging. It aims to enable seamless transfer and exchange of in-game assets in a secure and regulated manner to reassure players of the authenticity of transactions.
In this sense, Xchange Monster hopes to revolutionize and bring value to blockchain gaming with a clear focus on improving gaming experiences. They envision doing this by closing the gap between the traditional games’ gameplay without letting go of the most desired traits of decentralized gaming.
The merging of the gaming community with the Web 3.0 revolution has the potential to unlock and empower the gaming community, educate and inspire gamers to monetize games while retaining ownership of game assets.
