Why Do Pro Gamers Love Blockchain Gaming So Much?

Blockchain is basically a digital ledger. It’s like a database shared across a network, offering the transparent sharing of information between users. Blockchain technology underpins Bitcoin and other cryptocurrencies, and it is also being deployed in a host of other industries. One industry where blockchain is gaining popularity is gaming.

As well as the launch of specific blockchain games, blockchain elements are being added to existing games. With it, pro gamers have the opportunity to better monetize their content and skills, and some games even allow the earning of crypto simply by playing. In this article, we will review blockchain, blockchain gaming, and why pro players love blockchain gaming so much.

What Is Blockchain?

We’ve heard a lot of talk about blockchain in recent years, largely thanks to a rise in public interest in Bitcoin. As the cryptocurrency’s price has soared, so too has interest in the technology that it operates on. The technology can be used to create ledgers and databases for payments and other transactions. The data can’t be erased or altered without the consent of the whole network, and because it is decentralized, that consent can only be given if every single user agrees.

When most people think of blockchain, they think of cryptocurrencies. And as Bitcoin has risen in prominence in recent years, it has brought a host of other cryptocurrencies with it. Pro gamers can earn crypto through play-to-earn games and as tournament prize money. Other crypto enthusiasts can also buy currencies through exchanges that offer access to the best crypto to buy now. As Michale Graw points out, the currencies can be used for gaming, with some even established specifically as gaming currencies. But they can also be used for investments, shopping, travel, and at online casino sites.

How Is Blockchain Used In Gaming by Pro Gamers?

There has been a surge in blockchain gaming in recent years, and pro gamers are increasingly playing blockchain games to take advantage of game tournaments, NFTs, and play-and-earn models.

NFTs

Non-fungible tokens have emerged as a popular use of blockchain technology and are one of the main reasons pro gamers love blockchain gaming. Digital items are assigned a unique token. This token is specific to the digital item, which can range from in-game loot-like legendary weapons to memes made by gaming content creators. The use of blockchain in gaming therefore can protect accounts and even the specific items within that game. It also means that pro gamers can monetize their items by selling them on marketplaces.

Play And Earn

A lot of blockchains have their own currencies, which are essentially a representation of the tokens the chain uses. Some gaming companies and third parties offer these tokens to players for their participation or as rewards or prizes for reaching certain milestones. This means that pro gamers, and other gamers, can monetize their playing time.

Gaming Tournaments

Major e-sports tournaments carry millions of dollars of prize money, in some cases. Because blockchain is transparent, it allows pro gamers to see and verify prize pots before they even enter the competition. Funding can be verified to give participants peace of mind. Prize payments can also be tracked and verified, ensuring that tournaments are fair and that the prize money is awarded as promised. It gives clarity to gamers and spectators, bringing greater credence to the events.

The Blockchain And Gaming Relationship

Today’s gaming industry is worth approximately $350 billion globally, which puts it far ahead of the TV and even the movie industry.

Blockchain games are those that implement blockchain in some way. One of the largest and most popular is a game called Pixels. Pixels is a social RPG that lets its users build digital collectibles. The game has nearly a million users and is set to introduce pets and other items to the game that will surely see the user base increase. Users can create, farm, collect, or trade items in the game using the Pixel currency, which can also be bought and sold on cryptocurrency exchanges including Binance. Decentraland is another example of blockchain gaming and uses its own cryptocurrency token, MANA, as in-game currency.

Esports teams and professional gamers are embracing blockchain in other ways, too. Some organizations are tokenizing their own esports teams. Fans who buy merchandise or invest directly in the team take ownership of team tokens. Token holders are given the opportunity to game with team players, take part in events, and interact with the players. The esports team generates revenue, with some of this revenue being passed on to the players themselves.

Conclusion

Since the emergence of Bitcoin, blockchain has gained popularity and exposure. Professional gamers and esports teams are finding new and innovative ways to benefit, including the sale of NFTs and even the tokenization of the players themselves. Other games are taking part in blockchain-based tournaments, while games like Pixel and Decentraland enable any player to monetize their gaming efforts.