Blockchain games such as Axie Infinity, Gods Unchained, Star Atlas, Decentraland, and The Sandbox have gained significant popularity within the blockchain community. However, their influence on the mainstream gaming community is still limited.
A recent survey conducted by OnePoll revealed that blockchain gaming is a relatively untapped field with immense potential for game developers and studios. Out of 2,000 adults surveyed, 52% were not familiar with blockchain gaming, while 32% were aware of it but had never played a blockchain game.
When asked about the loss of in-game purchases and downloadable content (DLC) due to studio closures and game servers shutting down, 63% of respondents believed that customer refunds should be issued for lost in-game purchases and DLC. Additionally, 34% of respondents felt that the decision to shut down game servers and take video games offline should be made by the gaming community.
Blockchain gaming and persistent online metaverses offer gamers a solution to prevent the loss of their hard-earned in-game assets. By linking these assets to nonfungible tokens (NFTs) on the blockchain, gamers now have the opportunity to resell their in-game items, characters, and other digital assets that would otherwise have no resell value.
The gaming industry’s centralized nature and the growing reliance on digitally downloaded or streamed games often leave gamers at the mercy of studios and publishers who regularly remove games from online stores and shut down game servers.
Furthermore, the current state of the gaming industry provides limited opportunities for players to make money. Even if gamers were able to resell their in-game assets, it is unlikely that they could generate a substantial income from their favorite video games. However, there are some exceptions in the form of e-sports.
Axie Infinity, for example, is an NFT-based blockchain game where players collect, breed, and battle characters called Axies. This platform has successfully created a resell market for in-game items and has provided players in the developing world with significant sources of income. In 2021, Axie Infinity generated $1.3 billion in revenues, and some players earned up to $1,300 per month playing the game.
Axie Infinity serves as a prime example of how blockchain technology can leverage in-game assets and player economies to unlock value, create income opportunities, and reshape the gaming industry.