Today countless cryptocurrencies exist, as you might imagine, not all these are created with having an alternative payment or currency method. Cryptocurrencies can take many forms and serve a multitude of diverse functions. Blockchain has made not only currency exchange possible but also functions within gaming such as new features and alternatives for matches, players and fans, allowing them to communicate, compete, collaborate and connect. There are several ways in which blockchain technology has revolutionised gaming, a few explained below:
Tokens replacing money and in-game items:
If you are a gamer than you would greatly appreciate this one. Blockchain allows the transfer of in-game money and items to be transferred in a decentralised setting without an intermediary and without the risk of fraud. Blockchain eliminates the need to exchange in-game money with money and By Putting in-game things and money to specific crypto assets these could unexpectedly be possessed just like real life objects are. Let us begin with a few of the leaders in this field, Spells of Genesis. This is a card game based on Blockchain engineering, both in its own infrastructure and narrative. Blockchain technologies is used to tokenize trading cards, enabling these to be moved right on the Blockchain. Considering that the game was made with this performance in mind, the consumer’s wallet is incorporated, allowing the match to automatically monitor the trades and possession of cards/assets.
Sport monetization and stage gamification:
The gambling scene always existed and nowadays, there’s absolutely no lack of cool games on the market, therefore it can be difficult for gambling publishers and developers to stand out and also to perform economically. Blockchain technology will help them put up resources quickly and efficiently, bypassing the typical bureaucracy as well as the middlemen’s fees/delays.
Enjin, a gambling community started in 2009, is now building a Blockchain-centric ecosystem where programmers are going to have access to a comprehensive set of resources to permit them to kickstart their sport monetization programs quickly and efficiently, while also benefiting players and neighborhood leaders.
ESports Market and Trustless Betting:
ESports are increasing at an amazing speed, however, because a new business appears, new issues arise with this. Deficiency of efficiency and transparency in the eSports gaming sector has resulted in the development of real world eSports platforms such as FirstBloodand Skrilla, where gambling does not ask for a third-party to participate.
In these platforms, the money being gambled are held in contracts before the game finishes, eliminating the need for an agent. Back in FirstBlood, token holders have been rewarded for entering the outcome of the match to the wise contract, making sure that the machine can’t be rigged with a corrupt operator.
Even though the above projects are searching for the betters, the DreamTeam job is focusing on bringing players together, leveraging Blockchain technologies to construct the first-ever eSports and gambling recruiting and management system. DreamTeam employs the DDT cryptocurrency token because the only money of this platform, leveraging intelligent contract technologies to make sure trust less obligations of participant wages and bonuses, real time obligations and prize cash payouts all thanks to fast cryptocurrency exchange.
This one is somewhat obvious but we could not really leave it out. With their capability to cut out unnecessary middlemen and boost solitude and management for the consumer, cryptocurrencies and gambling only go along perfectly. In 2016, Valve recognized that this and additional Bitcoin obligations to its stage with the help of this Bitcoin-based payment support, BitPay.