Blockchain Games: The Latest Trend in Gaming Industry

  Sarath       April 30, 2022

Blockchain technology enables the storage of information in separate blocks in a decentralized way with links connecting each block. The incorporation of blockchain technology. is the latest advancement in the Indian gaming industry. Blockchain gaming is one of the certain factors that will define the future of the gaming industry.

Why BlockChain Games?

For example in an MMORPG game, a player purchases a gun. He/She may move on to another game and will be able to use the same asset in that game too. This means that the ownership of the time is entitled to the player, once he buys the asset. This is an essential feature of blockchain games, where players can transfer the assets across games.

Games developed using blockchain technology exist in a decentralized environment, where the assets are made accessible to players across gaming platforms. This is a revolutionary attempt in the gaming world, with players and creative independent artists getting a chance to develop their assets and make them available to millions of gamers around the world.

Benefits of Using Blockchain Technology in Games

Offers a Secured Gaming Market

One of the highlighting features of blockchain game development is the secure environment it offers to players, developers and publishers. Hackers find it hard to break into the algorithm used in blockchain technology, thus making blockchain games safer compared to traditional video games.

Ownership of Assets

Consider the fact of using a gun or knife crafted by you in  Call of Duty, sounds interesting right? BlockChain games make this possible, where you can create your assets like characters, weapons etc. And these are transferable across the games created using blockchain technology.

Wide Opportunities For Creative Players 

A creative individual with a good blockchain game development team can lure players into buying exciting and transferable assets blockchain gaming world.

Safe and Secure Payment System

Compared to normal payment gateways, transactions used via blockchain is more secure.

Integration of Gaming Profiles

A gaming profile is essential for players to maintain track of their achievements in the game. In blockchain gaming, users can create an integrated gaming platform accessible across multiple gaming platforms.

The legality of Blockchain Games in India

Gaming in India is often regulated under the existing laws that demarcate gaming into two - game of skill and game of chance. According to GOI, online skill games are legal while games with a ‘dominant’ chance factor are prohibited in most states. Since blockchain gaming is on a rise in the country, the existing gaming laws apply to them.

Blockchain games must pass ‘game of skill’ rules to be legal in the country. Another aspect of blockchain gaming that may need legal validation is ‘in-game assets’. As blockchain gaming offers the purchase and selling of in-game assets, with publishers and developers earning revenue from it. 
The GOI announced a 30% tax on any income generated by the transfer of virtual assets (NFTs and cryptocurrencies) in the 2022 budget. This is also a fair reason for blockchain game developers to expect strict legal measures in future.

Game development companies in India have expertise in developing quality games across different genres and for different gaming platforms. Blockchain gaming is one of the hotspots in the international gaming market right now, Indian game publishers and developers could make use of this opportunity to expand the horizon of the Indian gaming market with our rich resources.