Blockchain gaming is no longer a foreign thing as many leading companies have ventured into the technology. According to 2019 Global Games Market report, there are now more than 2.5 billion gamers across the world, making it the largest entertainment industry.
As technology evolves, blockchain gaming and crypto assets have been emerging and slowly creeping into the gaming industry. Reportedly, crypto gamers have spent about $1 million over the last week to invest in virtual properties and digital real estate. The three games they spent on are Decentraland, Cryptovoxels and The Sandbox.
Remarkably, gamers spent over 600K USD on Decentraland, the largest of the three platforms in terms of trading volume, by purchasing virtual real estate in the game. The Sandbox, on the other hand, generated around 168K USD from the game’s total landscape, while users spent over 200K USD in the purchase of digital items on Cryptovoxels.
Notably, the crossing of blockchain technology, gaming, and cryptocurrencies are promising. The rise of crypto-based gaming has now provided a new meaning for user-generated content, with virtual ownership drastically changing the traditional consumer role, and this will eventually lead to the further expansion of blockchain-based gaming industry.
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Nurul is an English Language graduate who is highly passionate on writing, she literally breathes on it. An avid reader and a critical thinker, she covers on blockchain news during day and weeps at sad novels at night.