- Along with NFTs, video games are the leading segment of the blockchain industry in terms of usage.
- One other variable for gamification that is to be considered is the blockchain category that permits others.
- Major game developers are starting to see the potential of the blockchain and crypto industries.
Whether it’s a home computer, smartphone, or virtual reality, the fun that comes with gaming is often one of the most effective ways to get the public nosy about the industry.
Crypto predicted back in 2018 that video games would drive blockchain adoption, and that prediction does appear to be on the way, with greater interest in blockchain-based gaming in 2021. According to a series of industry data, such games will attract more use and adoption this year, among which P2E (play-to-earn/ earn while playing) and GameFi (decentralized applications (dapps) with economic incentives/ have economic incentives) of decentralized applications (dapps) are most likely to be the dominant trend.
On top of that, many analysts expect major game developers and publishers to dabble in blockchain-based games to some extent this year, and the use of NFTs has proven to be very attractive. However, while crypto gaming is likely to see considerable growth in 2022, there may still be considerable room for experimentation as the industry decides what works and what doesn’t.
The Play-to-earn/ P2E model continues to promote the growth of blockchain games
Make no mistake: as Dragos Dunica, co-founder and Chief Development Officer of DappRadar, explained to Crypto News, gaming means a lot to the crypto industry, where there are more than 50% independent and active wallets that are very similar to Q4. denoting a positive increase in the market with Decentralized gaming dApp, proving that the fall in the market behavior of cryptocurrency is not going to affect the stability of the gaming industry.
Tunica explained that there is one specific area in the crypto gaming industry that is key to its growth: that is, play-to-earn (P2E). As the name suggests, this is a [game] mode where players are rewarded (usually NFTs or native tokens) for playing a particular game, with Axie Infinity being the most famous example.
He further added that the play-to-earn industry is the key that drives the growing industry of gaming, eventually. Games like an alien world, splinter lands, axie infinity, Upland, farmer world, etc. all of it are to evolve as a trend and retain users as a whole.
Other commenters agreed that earning while playing, the biggest trend in blockchain gaming in 2022, will continue to hold that crown. Also agreeing is Nigel Carlos, spokesman for Dacoco, based in Zug, Switzerland, and publisher of Alien Worlds.
In crypto news, he also added that play-to-earn games will, of course, be dominating in the upcoming years. Its economic incentives give the users and gamers a valid reason to play games and it is also attracting a wide set of audiences. Through real-world abilities and Play-to-earn options, users can completely vest on the ecosystem and also collaborate to build a strong empowered ecosystem.
However, analysts working outside the crypto industry tend to seek a cautious stance in assessing the size of the blockchain game and how it might develop shortly. One of them, Michael Pachter, managing director of equity research at Wed-bush Securities, doesn’t think blockchain-based gaming is enough to truly become a mature category.
His perspective lies in the denotation that it’s only Axie infinity the only game that knew to empower on the blockchain network along with the fun it brings in. with about 3.5 billion people actively interacting on the platform, an average of 400million active users play these games on their PCs.
Interoperability, Hybridization, and Gamification
In 2022, blockchain-based games and the rest of the crypto industry are likely to expand their interconnections with each other, with every single part of the crypto industry using the other to help itself grow.
Nigel Carlo also stated that the interoperability of blockchain and the use of NFTs are the two major trends today that the world is leaping on. And gaming is a surefire element.
Carlos also added that interoperability will be an important growth strategy for many games as they work to attract community and liquidity from another blockchain.
Continuing on the theme of the increasing overlap between gaming and the rest of the crypto space, Dragos Dunica points out that more platforms will be looking to gamify themselves in a variety of ways.
Moreover, as an add-on, the trend around gamification reconstructs the other categories evolving in the blockchain. Decentralized finance is one of the best examples. They have moved towards gameFi which is complex yet purer than Defi attracting an increased number of new users.
An early example is Defi Land, a gamified Defi platform running on Solana (SOL) and raising $4.1 million in seed funding in September. It launched in public beta at the end of December and is likely part of a larger trend that is financialized games or gamified finance platforms.
Large developers and publishers
Another trend we may see in 2022 will be the increasing involvement of major game publishers in both blockchain and NFT elements in their games.
Moreover, many developers are considering the capabilities of blockchain and cryptocurrency. According to him, while many are still apprehensive, claiming that we still have a long way to go, shortly we will start to see some big companies get involved in the blockchain space.
The move to NFTs and crypto assets could allow game publishers like EA/Electronic Arts and Activation ( acquired by Microsoft) to attract new customer bases with their offerings, while also allowing them to offer new and Exciting products. The market has noticed this potential, and Dragos Dunica pointed out that blockchain gaming has become a big business.