Blockchain-based games have surfaced and are advertised heavily all around the world’s corner recently. In only a few years, the gaming industry has seen a significant addition to the number of games in the genre of “crypto-games”. The blockchain technology has shown its potency and given rise to new opportunities for game studios.
The trend, however, shows that most crypto games are in an awkward place as they are not satisfying either crypto users or gamers. Entertainment value is at a bare minimum with the crypto game built around the selling proposition to earn an income rather than to enjoy a game in an entertaining way. Most crypto games are not custom-made to highlight both the enjoyment and earning feature, as blockchain and smart contract technology are integrated rigidly.
Project SEED approaches the crypto games in a very different way. The game studio makes everything from scratch with a mindset of making genuinely enjoyable games for crypto users and gamers alike. This is vastly different from implementing the technology to an existing title, which is designed for a non-crypto user base. Project SEED aims to make users enjoy the best moment in the game while they can earn extra money.
Blockchain Game Market Growth
The integration of Blockchain technology in-game is the driving factor behind the market growth. There are reports (appinventiv.com) that the global gaming market is expected to grow by $125.65 billion, with a CAGR increasing 12.40% from 2020 to 2025.
Project SEED sees this potential and understands how the gaming industry will unfold in the near future. The game studio is optimistic about the market growth and the degree of blockchain usage in games, hence operating and developing the game titles with blockchain as its base.
Why is Blockchain used in gaming?
Although Blockchain technology has been around for a while, it has recently received increased attention due to its potential to transform various industries. It has become the first choice for the gaming industry in recent years due to its benefits in various sectors.
Blockchain is a decentralized and distributed digital ledger that allows for secure transactions and records to be kept. It has created a new gaming experience for both businesses and players by allowing them to use NFTs and cryptocurrencies to purchase in-game assets that can be exchanged for real-world cash.
Cryptocurrency, such as Bitcoin or Solana, allows for secure and quick payments for in-game purchases such as avatars, game skins, in-game items (weapon/armor), and so on. Not only enabling players to trade their in-game assets in the provided platform, but they can also earn rewards in the form of crypto tokens while playing the game. Thus, the term is coined as a play-and-earn, where users have the freedom to dedicate hours purely for entertainment (play) and to “earn” at the same time using their accumulated in-game wealth.
Blockchain technology is being used in a variety of ways in the gaming industry, including NFT and the play-and-earn ecosystem.
Gamers used to own game skins, items and upgrades, and these come from hours and money dedicated to the game itself. The ownership of these items are obscure as they remain in the hands of the game asset itself and buying or selling them to another player falls into a gray area. This problem is easily solved with the NFT factor in crypto games that makes digital ownership more secure.
With the possibility of minting them into NFT, players in crypto games can now trade them officially to gain extra earnings instead of letting them stay as in-game assets like in conventional games. While traditional games only allow the in-game items to be traded from one player to another through a private agreement, crypto games can even provide a safe platform for users to list and market their item listings.
The ability to earn while playing has been in the interest of many in the gaming industry. It takes form in various shapes, e.g. streaming, e-sports, and so on. Yet the actual “earning” through playing a game has not been made reality prior to blockchain implementation to a game.
The idea of play-and-earn enables users to make use of the time and effort that they have invested in playing the game into a currency reward. Gameplay hours turn into a list of upgraded items and unique or rare game assets that may be traded safely between players, both newcomers and veterans. Not only the items in inventory, the in-game currency that used to just pile up once a player progressed far into the game can now be used for another game (interoperability) or even cashed out.
These financial benefits do not overshadow the gaming element itself: the enjoyment of playing. While many cases of GameFi put so much pressure on relying on the “earning” factor, Project SEED believes that what defines one as a game is the playability, game mechanics, and overall enjoyable experience that players should have. Such is the play-and-earn idea that Project SEED projected into their game development, to be the first blockchain-based game studio that caters to gameplay and earns extra at the same time.
Here are the other benefits that are offered by blockchain games:
- Integrated game profiles
- Improved user experience
- Enhanced security
- Secure transaction
Project SEED as the First Blockchain Game Studio in the World
It is obvious in how the technology has progressed and is employed to shape the new style of game in today’s development. Positive market growth has surfaced and it is inevitable that game studios will lean toward the idea of implementing blockchain into their product. Yet, the trend so far with conventional game studios trying to implement the blockchain and NFT feature into their pre-existing game sadly has not delivered a satisfying result.
The less than ideal outcome was due to the blockchain clashing with the game’s native economy. The analogy would be adding an extra part that instead of boosting a hardware performance, it counters back to the established mechanism. It is apparent how a game cannot just suddenly add blockchain or NFT into it, rather they should be built with blockchain as the base economy. This shows the advantage a game studio may possess if they are working on blockchain game titles first-hand.
Project SEED takes all things mentioned above into consideration, from the advantages of blockchain and the ideal environment to build a crypto game. Thus, Project SEED emerges not as a conventional game studio but becomes the first blockchain game studio dedicated to all its assets and development for blockchain games. This enables the studio to lead the development of crypto games with an optimized environment, built-in focus and with blockchain in mind from the very start.
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