Blockchain gaming has gained immense popularity in the few last years. And there are no indications of it slowing down anytime soon. According to the latest reports, the global blockchain gaming market’s revenue is estimated to be $65.7 billion by 2027, with a 70.3% CAGR growth.
But, what is blockchain gaming? If this is your question and you are curious to learn more about it, this blog is worth a read. Quytech has covered everything about blockchain gaming, ranging from its potential and limitations to development and real-life examples in the gaming industry.
So, without any delay, let’s start!
How to Develop a Blockchain Game?
To develop a custom blockchain game, follow these steps:
- Ideation
The first and foremost step to developing a blockchain game is to think of the type of game you want to develop. You need to design the graphics, characters, storyline, dialogues, etc., for the blockchain game.
- Find the Development partners With Blockchain Expertise
Once you are ready with your initial preparations, you need to hire a leading game development company that has expertise in blockchain-based game development.
Developing a blockchain game is a complex process, and you will require the expertise of professionals.
- Choose the Blockchain Platform
For developing a blockchain game, you need to choose a suitable blockchain platform based on your specific requirements. There are numerous platforms, such as Ethereum, EOS, TRON, and more, you can choose as the foundation of your blockchain game.
Also, determine the features, NFTs, DeFi elements, and player-owned assets you want in your blockchain game. To manage the in-game assets, transactions, and other game-related processes, smart contract development is a must.
- Design and Develop the Game
Share your ideas with the game development company and begin designing and developing the game characters, backgrounds, sounds, etc. You can also leverage Generative AI for game development to save time and resources.
- Testing
Post-development, test your blockchain game to identify and fix the bugs and glitches. You can also play the game to evaluate the gameplay experience and quality of the game.
- Deployment
Once you are done with the testing, deploy your blockchain game on various platforms for other users to play. Remember to keep a tight watch on its performance and make frequent upgrades to keep it relevant for a long time.
So, this is how you can develop a blockchain game per your specific requirements. Now let’s move on to the types of blockchain games you can develop.
Types of Blockchain Games
There are various types of blockchain games you can develop. Some of them are mentioned below:
- Non-Fungible Tokens (NFTs) Games
These games are collectible-based games in which gamers can acquire, trade, and breed unique digital assets, also known as non-fungible tokens, on the blockchain.
Each NFT in the game has distinguished features and the ownership is secured through blockchain, offering the ownership of in-game assets to the gamers.
- Casino and Gambling Games
The best game developers integrate blockchain into casino and gambling games, such as Roulette, Slot games, Cards, etc., to make transactions secure and transparent. It allows fair gaming and provides gamers with a decentralized betting experience.
- Play-To-Earn (P2E) Games
Blockchain-based Play-To-Earn games, or P2E games, are among the popular game categories. In these games, users can earn cryptocurrencies or other rewards while playing their favorite games.
Blockchain technology creates transparent economies, allowing gamers to truly own their in-game assets and monetize their time and effort in the gaming environment.
- Metaverse Games
Metaverse games, within the realm of blockchain, are virtual immersive universes where players can interact, own assets or NFTs, and take part in activities supported by blockchain technology.
Blockchain makes the economies in Metaverse decentralized, allowing gamers to have true ownership of NFTs, pushing the boundaries of the Metaverse gaming experience.
Hence, these are the top blockchain game categories.
Benefits of Developing Blockchain Games
The following are the benefits of developing blockchain games:
- Transparency
One of the crucial benefits of developing games with blockchain is transparency. Blockchain technology is secure, transparent, and impossible to tamper with, allowing users to share their sensitive information and avoid any kind of fraudulent activities.
- Authenticity
Game developers use blockchain to ensure fair gameplay and legitimate transactions in the gaming environment. The technology also prevents dual-transaction cases from the same user while playing the blockchain games.
- Digital Collectibles
Blockchain games allow users to gather digital assets, known as Non-Fungible Tokens (NFTs), which have distinct qualities and scarcity.
These NFTs can be exchanged with other players, acting as both collectibles and assets that can be traded in the gaming environment or the NFT marketplaces.
- Enhanced Playtime
Gamers can earn cryptocurrencies and other NFT rewards that can be used to buy goods or services online. This attracts a lot of users and makes them spend more time playing and engaging with blockchain games.
- Security
Blockchain technology is well-known for its high-end security. By developing games with the blockchain, you can protect your user data and gaming transactions from cyber hacks.
Moreover, you can also win the trust of your gamers and make them transact more while playing the game.
Hence, these are the top benefits of blockchain game development.
Blockchain Game Monetizing Models
Blockchain game monetization refers to earning revenue from your blockchain game. Thus, here are a few monetizing models that you can use to generate income from your blockchain-based games.
- In-Game Purchases
You provide your users with an option to buy in-game items, such as avatars, tools, accessories, upgrades, and more, using fiat or cryptocurrencies. Thus, it helps you generate revenue whenever a player buys anything from the game store.
- NFT Sales
You can also opt for NFT development to generate additional revenue. You can create and sell unique NFTs (non-fungible tokens), such as rare collectible items, special characters, or exclusive virtual real estate, within the game and earn revenue.
- Subscriptions
You can also integrate subscription-based monetization in your blockchain game. The benefit of using this model is that your users pay a recurring fee to access premium features, exclusive in-game benefits, and upgraded content.
- Paid Ads
You can also run relevant advertisements in your blockchain game to generate revenue on a pay-per-view or pay-per-click basis.
- Tournaments and Competitions
Esports is gaining momentum, and you can also take advantage of it. You can organize esports tournaments, competitions, or challenges within the game where players can compete for prizes, rewards, or cryptocurrency payouts.
By this, you can earn revenue in the form of entry fees or charge a percentage from the winner prize pools.
So, these are the proven monetization strategies to monetize your blockchain game.
Concluding Thoughts
Online games are one of the best ways to keep people of all ages entertained and engaged. Online games provide realistic gaming experiences that engage users for a long time.
Now, the introduction of blockchain games has enhanced this gaming experience. Started in 2017, the blockchain games gained popularity in around 2021, and they have been liked by millions of people worldwide. We have already discussed the reasons why these games are gaining popularity exponentially, in the blog.
So, if you are interested in developing a game, we will recommend you opt for blockchain game development, as it is in trend for now, and there are no signs of it going out of trend any soon.
Thus, to develop a custom blockchain game, reach out to our team and share your idea. We will provide you with the best blockchain game development services to build a game tailored to your specific needs. For more information, please visit: www.quytech.com