The emergence of blockchain’s use in the gaming industry is an opportunity for smaller developers to retain and grow market share, driven by strategic use of the multibillion-dollar non-fungible token (NFT) sector, according to industry experts.
“Three years ago, no one understood what gaming can be in blockchain … today, I believe we have already entered the era of mass adoption,” Ritam Gupta, founder and chief executive of blockchain gaming platform Defi11, said during a panel discussion at Gitex Global in Dubai.
“Gaming is a craze and people are starting to understand that we can move forward with gaming and blockchain together in several use cases.”
NFTs are virtual assets that are unique, cannot be replaced with others and can be sent to other digital wallets. In gaming, NFTs can be used as an item to aid players. As with Bitcoin – the world’s largest cryptocurrency – they are limited in quantity, potentially adding to their value.
The advent of blockchain technology…