As great as it is, there are a few aspects of smart devices that simply aren’t good enough for virtual reality. In fact, the VR (Virtual Reality) and Blockchain are two very promising technologies, but what do they have to do with each other? The answer is actually quite simple. Both of these tech giants represent the next generation of entertainment technology, and both are creating new ways to earn money by playing video games (known as gaming). Thus, it only makes sense that VR tech studios would use Blockchain as the basis for their gaming platforms.
Players make progress on a video game by playing it. Progress is measured through experience points, which are determined by a character’s playstyle. When a player receives enough experience points to earn a skill point, they can spend it on something that will enhance their game play.
Virtual Land Based on Blockchain users of multiple virtual world platforms have spent >$1 million on digital land
What will it look like? The future looks different for everyone, but that shouldn’t stop you from trying to predict what it may look like for you. With VR technology steadily growing in popularity and development, we can expect to see an expansion of virtual reality (VR) experiences. And these immersive gaming experiences don’t have to cost thousands of dollars anymore.
The revenue model for video games has transformed in recent years, with many studios opting to give their products away for free while making money through microtransactions or paid add-ons. The next evolution in gaming is taking place on a blockchain, but will gamers be willing to change their mindset about how they pay for games? With so many free options available today, we’re looking at a future where play to earn could take over as one of the best ways to fund new games.
Blockchain could help small studios compete in multiplayer game development
If you’re a game developer, there are numerous hurdles that blockchain can help clear. For one, it removes middlemen from game development, meaning developers get more direct payment for their work. And it can be used to limit in-game purchases to those who earn them through gameplay—eliminating the need for consumers to spend money on things they can’t use or earn in-game.
Most gamers are familiar with play to win games that take place in a free-to-play environment. However, now there is a new method of gaming known as play to earn. Players can buy into a particular game using NFTs or non-fungible tokens, which are items specific to an individual owner but cannot be duplicated.
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