The Next “Blue Ocean”? Current Status and Potential of Blockchain Games

Why are blockchain x games gaining momentum? What are the expectations and aims of game players and developers who see opportunities there?

What are blockchain games?

In addition to major markets such as consumer, PC, and mobile games, there are several other markets in the game world, such as VR games, that are currently small in scale but have great potential for the future. Blockchain games (BCG, also known as GameFi or Web 3.0 games) is one such market. First, let me explain about BCG again.

BCGs are games that utilize blockchain-based technologies such as crypto assets and NFTs. For example, the ability to exchange in-game assets for real assets (money) via crypto assets and NFTs is one of the main features of BCGs enabled by blockchain.

In reality, there are many things that are possible with blockchain technology, and various innovations are still being devised, but at this point, it is sufficient to understand that BCG is “the possibility of earning (real money) through games.

BCG is already well-known in the industry utilizing the blockchain-based technology known as Web 3.0, but it is not so well-known to the general public, so let us briefly explain how it came into being and its current status.