According to a recent survey in the US and UK, video game developers are increasingly using blockchain technology as we read more about our blockchain news.
A survey by software company Stratis found that around 58% of UK and US video game developers are increasingly using blockchain technology for their endeavors, and 47% of NFTs are integrating their game into their endeavors. The survey interviewed 197 video game developers in the UK and the US. In addition to those already using NFT and blockchain, the rest of the participants were optimistic as 72% said they would consider using them to develop new games, with 56% intending to do so next year.
When asked if blockchain technology will be ubiquitous in video games in the next 24 months, 64% of respondents answered “yes”. According to 61% of developers, blockchain states that games can be innovative and fun, with 55% saying it adds value to players by keeping money in the game, but also offers rewards for players at a certain price in The Choice.
It should be noted that 46% of developers’ interest in blockchain is focused on the trending play-to-make business model. Jean-Philippe Vergne, Associate Professor at the UCL School of Management noted:
“Blockchain is quickly becoming a core component for online games. What the blockchain enables is extremely exciting – players can now earn crypto while playing and trading digital goods, both within and between games. “
On the same topic, as CEO of Stratis, Chris Trew predicts that much of the growth in gambling for monetization will come from emerging markets, where most of the money per game can bring them to the middle class. Wealth mobility will change the global economy. Play-to-Receive is a business model where users can play a game and earn growing in-game assets in the process. A key component of the model is giving players ownership of these assets and allowing them to add value by actively playing the game. In the crypto room, it is possible to determine ownership through NFT.
The main idea of Participate in-to-Earn is to give players rewards for putting time and effort into the game. By participating in a particular game, players can create more value for other players in the ecosystem and developers. In turn, you will receive a reward in the form of an in-game asset with high potential, possibly a cryptocurrency. Some of the most famous examples of these games are Decentraland, Sandbox, and Axie Infinity.