Gaming has become an integral part of our daily lives worldwide. The gaming industry is raking in billions of dollars year after year, attesting to its profitability and widespread adoption. According to Statista, more than 3.24 billion gamers worldwide were actively or passively involved in gaming last year. Despite the massive size of the gaming industry, gamers have expressed concerns about the traditional model of gaming, which is the “pay-to-win” model. Traditional gaming requires players to acquire in-game assets to rank up and achieve particular goals, which can strain the finances of active gamers. In this article, we’ll look at the role of blockchain technology in improving the gaming industry with the play-to-earn model. Current State Of Traditional Gaming Traditional gaming has come a long way in providing excitement and entertainment worldwide. However, despite its tremendous growth in recent years, the gaming industry still has several issues to address. To begin with, current gaming models lack transparency because players cannot track their in-game transactions, and the value of the game economy is determined by game developers, resulting in a highly centralized and opaque gaming industry. Furthermore, in-game items purchased in ‘pay-to-win’ gaming models have no ownership, as players have no right to gaming items purchased outside of the gaming environment. Another issue to conside...
