Blockchain technology has revolutionized many sectors. Investors now prefer cryptocurrencies like Bitcoin and Ethereum over precious metals such as gold and silver. NFTs have also helped to kickstart the world of digital art by proving ownership of these assets. Blockchain transforms ownership, creating a new paradigm where digital assets can be securely owned, traded, and verified.

Ever since the bitcoin boom of late 2017, there has been a lot of talk about other areas that could be disrupted by blockchain technology, with real estate, supply chain management, security, and cloud storage some of the most discussed possibilities.

Another sector that could see blockchain technology radically change how it operates is gaming.

Facilitating Better Payments

Publishers have changed the way they monetize their games over the years. In the early days, arcade titles used a coin-operated pay-per-play system. Players would insert coins to receive a set number of minutes or lives. Once they used up their time or lives, they would need to insert more cash to continue.

This model is similar to how real estate works—users pay for access or usage over time, whether renting physical space or game time in a digital world. Blockchain transforms ownership by allowing players to own in-game assets. It also offers a new way to monetize digital items beyond simple rentals.

Later, the traditional purchase model replaced the coin-operated system. Players would buy a game from a retailer, then take home a disc, cartridge, or cassette to install and play. While this model remains popular, some developers are shifting toward the free-to-play approach.

Free-to-play games let players enjoy the game for free but encourage them to buy in-game items like character customizations, weapon skins, or new levels.

As these payments become more common, cryptocurrencies could play a key role. Tokens could enable faster, cheaper transactions and even become in-game currency.

Facilitating a True Metaverse Gaming Environment

There has been a lot of talk about the metaverse lately and gaming is a big target for those working on metaverse-related products and services. Gaming in the metaverse could help to create a much more realistic and immersive experience than is currently available.

Online casinos and poker rooms are a good example of this. At present, sites like PokerNews list all the leading places to play cards online, many of which offer social functionality alongside their gaming features. However, metaverse gaming could take this to the next level by providing virtual reality environments for players to meet, chat, and play in, much like a brick and mortar venue would.

Blockchain technology could help to facilitate this in several ways. Firstly, players could invite their friends to their own personal metaverse rooms which could be decorated with NFT-tracked items. Secondly, smart contracts could help ensure the games were run fairly, with everyone able to audit how winnings were shared and if the rules were followed.

Adding Value to In-Game Items

At present, these in-game items can only be purchased once and remain in the player’s possession for the life of the game. There’s no way to sell them to anyone else, so they become redundant once the player abandons the game.

Blockchain technology could help solve this problem. Some publishers, like Ubisoft, are experimenting with NFTs to record ownership of items purchased in their games. This would allow items to be resold and let players verify they own genuine, limited-edition assets. Industry analysts suggest there could be strong demand for digital items that were previously owned by an influencer. This could create a new income stream for streamers and esports athletes.