Game designers are playing with the idea of adding blockchain technology and non-fungible token (NFT) functionality and rewards to their future games. That’s according to new research funded by Stratis, a leading blockchain platform. The study found that more than half (58%) of 197 video game developers surveyed in the U.S. and U.K. are now beginning to use blockchain technology. While nearly half (47%) of respondents claim to have already begun incorporating NFTs in their games.
“We commissioned this research to solidify what we already assumed — that blockchain and NFTs are the future of video games,” stated Chris Trew, CEO, Stratis, in the company’s press release.
“From our own experience supporting AA game developers, we know first-hand how these technologies are already beginning to improve the player experience by rewarding players with the ability to earn real-world value.” Demonstrating an appetite for blockchain and NFTs, 72% of respondents said they would consider using these technologies for new games with 56% planning to do so in the next 12 months. Meanwhile, 64% believe that blockchain technology will become prevalent in video gaming within the next two years, while 53% agree that NFTs would be more common by then too. This chart from Statista shows where global gaming growth is going through 2025.
Looking at why blockchain technology in video games is valuable for the industry, 61% of respondents said it allows for innovative and more interesting gameplay, while 55% believe it secures value for players by keeping money in the game. Rewarding players with real-word value (54%) and network effects that incentivize the adoption of games (45%) followed close behind as use cases for blockchain in games.
On The Flipside
- There isn’t a real flipside to this development. If we want mass adoption of cryptocurrencies, the best way to do that seems to blend two of the hottest growth trends on the planet – video gaming and NFTs.
Why You Should Care?
The merger between crypto and gaming makes perfect sense, and the timing is perfect!