Blockchain Fueling Growth of Online Gaming Industry

By StartUp City | Saturday, April 27, 2019

Blockchain in gaming IndustryThe gaming industry is ready for new transitions in how transactions are made and the power players have over their currencies in the game. The upsurge of blockchain technology provides the gaming industry with possible solutions as it will provide a more transparent and decentralized way for gamers to indulge with games and in-game assets. Blockchain technology in the immediate future will change the face of the gaming industry. With the introduction of new dApps, or decentralized applications which use blockchain technology in gaming, many game developers are now adopting blockchain.

Enjin Coin takes one step ahead of blockchain-based gaming ownership. It develops and manages directly on the Ethereum blockchain virtual gaming assets. Enjin Coin has a 19 million-user network. Gaming communities can construct currencies, items, and even attributes supported by Enjin Coin's parent. It also involves a Smart Wallet that allows gamers to hold and trade their digital assets across multiple gaming platforms. Games such as War of Crypto and Forest Knight are the Enjin Coin ecosystem's best-used cases. To grow their online games, they use the Enjin Unity SDK, network, and its Digital wallet.

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Trading virtual items or collates of in-game assets to be an industry worth $50 billion. Most of the developers provide the gamer with an opportunity to buy these assets. The pay-to-win gaming community transactions are a channel of revenue for developers. Yet there are not sufficiently robust payment systems in place. The blockchain has been set up to solve these problems. Various Enjin Coin gaming projects are building an entirely new economy in the game.

In addition to the Void, another game offering its own token, Nexium, also used its token to fund development, allowing anyone outside the game to purchase game items and currency. It can now be traded across the Ethereum blockchain by the Nexium token holders. CryptoFights is yet another illustration where gamers with the backed Enjin smart wallet can send in-game items to any other ETH user. This Digital wallet provides customized experience and security features. In both size and value, the gaming industry continues to grow.

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