Future of blockchain and gaming: The opportunities and challenges ahead

financialexpress.com:

By Ravi Chamria

Though it is a fact that gaming has turned so huge in the last 1 decade that it has dwarfed Hollywood in terms of market capitalization, it wouldn’t be an understatement to say that accessibility of monetization for all, improved game-play, absolute transparency must be improved from grounds up not to dilute its absolute dominance. 

Blockchains have fit in as a technology emancipator, bolstering and helping the sector overcome archaic challenges to keep the needle moving. 

Professional gamers have built invisible walls through their expertise in their gaming profession that salaries, sponsorships, live streaming, donations, and other income heads revolve around them. So, when average or newbies in gaming try to enter the space, they face an existential crisis under professional gamers’ influence. 

In order to monetize their skills, they need to catch up with their professional peers, aka pro-gamers with years of experience under their feathers. Hence, a lot of catching to do, creating deep crevasses in entry. The club-based gaming model in traditional Web 2 gaming is largely closed for newbies to aid monetization. 

Blockchains are engineered so that there’s no concentration of power in the hands of a few corporations reinventing the game economy through their whims and fancies. As a result, free participation is simple.  Gamers can tap P2E or Play to Earn models to monetize in-game time. 

Moreover, by selling in-game assets or spending hours within the game environment to extract NFTs, they can tap other income streams from the game environment.  In the last two years, as many as 1.22 million new wallets have turned operational, tapping into these efficacies to make money playing games. 

One of the