The Concept of Decentralized Gaming Explained

Work and play were two concepts that were considered mutually exclusive for a long time. Players could not accomplish the former while simultaneously enjoying the latter. So, of course, the only way players could have fun and make money was in casino gaming. Brick-and-mortar casinos, alongside their internet-based counterparts like Vulkan Vegas, offer thousands of exciting games of chance and some skill-based options that are also heavily hinged on chance. You pick a game, place a wager, and depending on your skill or luck, you could make some money, up to millions in jackpot payouts.

Outside gambling, you either had to engage in free-to-play or pay-to-play games – until the advent of esports and blockchain technology which gave birth to decentralized gaming. But interestingly, the gambling sector is still fighting to have a footprint in both esports and decentralized gaming to ensure that its patrons can relish as many options as possible. Given that our subject of focus today is how decentralization is creating magic in gaming, we’ll put off any esports discussion for another day in a different post.  

Decentralized gaming stems from the concept of decentralization which is a process by which activities are run by multiple entities as opposed to a single entity. In this type of gaming, there is group ownership of the decisions and plans made, taking away the power of one and granting it to a community. In simple terms, decentralized gaming is gaming tech that is not owned by a single developer or provider. Instead, members of the communities formed in the games have the power to control different aspects of the games.

Building Blocks of Decentralized Gaming

Before decentralized gaming came to being, four components had to be in place to create some foundation for this type of technology to thrive. Obviously, we must admit that technology has been evolving over the past decades, and there are several pieces to the puzzle that have facilitated the establishment of this auspicious field. Nonetheless, we have to give credit to the four that have absolutely revolutionized the industry. They are:

● Blockchain technology: The Ethereum blockchain is the go-to for most gaming platforms as it makes it easier for gamers. An example of a platform that rides on Ethereum is Axie Infinity which currently has millions of players in its user community. In addition, blockchain networks ensure transparency as anyone can access the records of transactions and exchange rewards with no information being lost in the process.

● Non-fungible tokens: Some of the most popular blockchain games today have been integrating NFTs, which represent items in the games that have real value in the real world. Any items won or purchased in the game are property of the interim holder until exchanged for money or other items. Once an item is transferred to another owner, not even the platform developers can take it away or ban the user from accessing it at any point.

● Cryptocurrency:  Transactions in traditional games are only available between players and the developers of the system or operators. Blockchain games allow users to initiate transactions amongst themselves without the involvement of the developers. If monetary transactions have to be made, they will be done in crypto. Some platforms have even gone as far as developing their own proprietary in-game currencies that can be used to make purchases or be cashed out.

Why the Interest in Decentralized Gaming?

So, what makes decentralized gaming a topic of interest for any savvy player? The straightforward response would be that there is evidence that the market is slated for exponential growth in the coming years. Moreover, the current post-Covid recovery is proving to be working well for the online gaming industry. Additionally, the future is decentralized in every way and for the market to keep an upward trend, embracing emerging trends is the best way to remain afloat. 

The general feeling in the gaming world is the need to shift power from bigwig technology giants across different sectors to the users. As such, users are being attracted to the freedom that comes with owning parts of their favorite games. Better still, thanks to blockchain, decentralized gaming also allows players to pick up where they left off due to distributed ledgers that act as indelible databases that keep impeccable records of activities. 

We Are Evolving into a More Exciting Gaming World

Video games have been around in different forms for just under a century and as technology advances, so do the games. Blockchain games are evidently a natural product of the evolution of technological advancements. The industry is expected to experience exponential growth in the coming years, and there are already considerations on transacting across platforms. 

However, as with any fully online technology, scammers are always looking for ways to fleece unknowing users, and to be on the safe side, some research on platforms is necessary.