The start of the next monetization revolution in gaming is just around the corner: blockchain gaming. Other names for the blockchain gaming industry include GameFi and play-to-earn, which refer to the new monetization strategies that have emerged in this era of gaming. Non-fungible tokens (NFTs) or other tokenized assets are commonly used in blockchain gaming and traded for cryptocurrencies on blockchain-facilitated exchanges. As a result, sales of tokenized assets and subsequent royalty proceeds represent the key monetization strategy. In this new business model, game creators and players have aligned motivations because both gains as the game’s tokenized assets increase in value. The idea is that gamers should own the content they earn, or at the very least, have more ownership in the digital environments in which they spend a considerable amount of their time and money. Problems Currently Faced by Traditional Gaming Players don’t truly own anything Last year, gamers spent more than $50 billion on in-game items such as clothes, weapons, and power-ups. These purchases usually improve a player’s performance and enjoyment of the game. They have no other use, and you can’t sell, lend, or collateralize them. They now fall into entertainment spending rather than a serious investment. Interoperability across games is limited For the most part, today’s games are still walled gardens. They are separate planets with their own set of t...
