This content originally appeared on HackerNoon and was authored by Abisola Iremide
Gamification will be one of the main drivers for mass adoption in the brave new world.
\ By tearing down barriers to entry, it allows complex technologies like blockchain to intersect with gaming to create a unique digital experience.
The Power of Gaming in the Crypto Space
The gaming industry has already felt the presence of blockchain and cryptocurrency. It is estimated that there are over 3.2 billion gamers on Earth.
\ Of course, gamers are strategic and adaptive; they are, therefore, the perfect candidates to immediately embrace new technologies.
\ They are used to digital assets and can master even the most complex systems in no time, which means integrating blockchain into gaming was the next logical step.
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"Gaming is the perfect candidate for spurring Web3 mass adoption simply because there are so many gamers in the world who are already used to trading digital items and buying digital things," said Alex Connolly, co-founder and CTO at Immutable.
Enhancing The Gaming Experience With Blockchain
Digital assets are quite a common feature in many games. For gamers, this offers a new level of excitement. Imagine receiving some unique NFT as a reward after conquering something in the game.
\ The innovation that a combination of cryptocurrency and the gaming aspect of NFTs can drive is boundless. For the first time, players can finally earn rewards worth something in real value, an incentive to play more games.
\ This has seen the introduction of play-to-earn schemes where gamers are incentivized, for example, to explore new ventures and turn their hobby into a probably lucrative activity.
Ownership and Economic Participation
One of the main benefits of blockchain for gaming is that ownership of in-game assets can exist independently of the game itself. This ownership may also involve NFTs that have been minted within games, opening up new routes such as revenue sharing and enhanced marketplace visibility.
\ That means more tools and interoperability of the ecosystem translate to more players for the game developers. Developers can issue their own tokens or make use of existing cryptocurrencies to engender loyalty and reach communities that are bigger. It's about creating a decentralized economy in the gaming industry, not just an advanced gaming experience.
Markle Trade: The First Gamified Perpetual DEX Trading Platform On Aptos Blockchain
Markle Trade is pioneering a new era in decentralized finance (DeFi) by introducing the first gamified perpetual futures DEX on the Aptos blockchain following a token generation event(TGE) sequence, which includes both Genesis Staking and a Liquidity Bootstrapping Auction (LBA). (While the LBA offers exclusive USDC rewards for extended staking, the Genesis Staking lets preMKL holders earn USDC while retaining their MKL tokens).
\ This innovative platform combines the robust security and scalability of Aptos with the engaging, social elements of popular games.
\ As the first gamified trading platform on the Altos blockchain, it aims to make directional betting on volatile assets like crypto fun and accessible for everyone.
\ By incorporating elements from online and RPG games, the platform lowers the barriers to entry for crypto asset trading.
\ Most especially, its offers omnichain support, including EVM wallet integration via LayerZero, expanding its reach to a wider user base.
Blockchain Gaming In the Metaverse
The metaverse is a virtual world where users can associate with a computer generated environment.
\ It has created a platform for blockchain game developers to build simulated gaming environment which incorporates digital assets.
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"Gaming is the biggest industry when it comes to entertainment," said Urvit Goel, vice president and head of global business development at Polygon Labs. "It's bigger than music and movies combined. And there is a very clear use case here. No one's spending as much on digital assets in any other industry than gaming."
The Rise of GameFi and Play-to-Earn
The GameFi sector, which integrates gaming with decentralized finance (DeFi), has created a play-to-earn rewards system.
\ This system has allow game developers to reduce the perceived cost of playing crypto games by offering potential rewards. As a result, the target audience for these games has expanded significantly.
A New Era of Crypto Adoption
Blockchain gaming presents an entirely new level of decentralized economy to the gaming sector. This gamification of the emerging cryptocurrency economy is one of the greatest ways to drive the successful adoption of new technologies.
\ Developers are actively building crypto and blockchain features into the player experience, adding scarcity and value to digital environments.
Interoperation and interaction among different metaverse games with each other will be a huge driving force for this whole emerging ecosystem of blockchain and crypto gaming.
\ By simply consolidating immersive environments through VR, addictive power in video games, and value propositions across both blockchain and crypto, the game industry is ready to lead and drive the next generation of internet development.
\ Gamification is a strategic key to unlock new possibilities for mass adoption in the crypto, blockchain and Web 3 industries. It makes access to these technologies easier, more interactive, and with rewards; thus, gamification changes how people approach these very novelties.
\ While the industry keeps brainstorming and inventing, with gamification it will be even more influential in the future regarding decentralized technologies.
\ The evolution of mobile gaming has moved the entire traditional gaming scene from hardcore to a more casual sphere. With an estimated number of more than 3 billion gamers all over the world, it is a commendable ground for the mass adoption of digital currencies.
\ Their application in general and integration into blockchain and gaming fields will open new markets and opportunities within, and that is why the sector is going to be one of the most interesting in the next upcoming years.
\ As Yat Siu, co-founder and CEO of Animoca Labs,
"Gaming is a cultural and entertainment phenomenon that is bigger than movies and music. And gamers and people who play games already have a relationship with virtual assets and items."
\ Gamification has the power to make crypto and blockchain technologies reach mass adoption, allowing these exciting innovations to finally reach the masses.
This content originally appeared on HackerNoon and was authored by Abisola Iremide
Abisola Iremide | Sciencx (2024-09-01T23:15:13+00:00) Gamification: A Key Driver of Mass Adoption. Retrieved from https://www.scien.cx/2024/09/01/gamification-a-key-driver-of-mass-adoption/
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