58% of video game developers are already using blockchain

A new study from the UK shows that most game studios have started exploring blockchain technology for their upcoming titles.

Powered by the Stratis platform and conducted by the Insights agency Opinion, the new study surveyed 197 video game developers in the US and the UK. The results show that 58% of developers are starting to use blockchain technology, and nearly half of respondents (47%) are starting to incorporate unusable tokens (NFTs).

Research shows that developers have confidence in blockchain and NFT as two-thirds of studios expect block to become ubiquitous in the gaming industry in the next two years. While 72% of respondents are considering using block and NFT in upcoming games, more than half (56%) plan to introduce the new technology within 12 months.

Speaking to Cointelegraph, Stratis CEO Chris Trew explained that block technology, tokens and NFT are crucial technologies for the new digital world and the gaming experience. “They allow players to own shares in the games they play, such as buying land in a Metaverse game like an NFT or a car in a racing game,” he said.

“In the past, games were pay-to-play and the value only came to companies and platforms. Blockchains and NFTs will change that situation, ”added Tree.

The top three benefits of blockchain for the video game industry are innovative gameplay (61%), securing value for players by maintaining game currency (55%), and rewarding players with real value (54%), according to the study.

While indie game developers first ventured into the block and NFT space, with around 20 of them working on the Stratis blockchain, Trew believes big developers, aka AAA companies, won’t fall far behind. Big names like Ubisoft and EA have expressed interest in the technology, and Epic Games has welcomed blockchain games to its platform.

Related: Ubisoft will try to invest in and develop blockchain games

The interest of game developers in blockchain is centered on decentralized finance or GameFi (57%), game-for-money model (46%), NFT, which means ownership of in-game items (44%) and digital currency in-game (42 %) offers.

Game developers will look to the game’s network effects to make money, or players will simply turn to games that reward them for their time, Trew commented. “A passionate player. It is revolutionary to give them the chance to join the game and make money in the metaverse like you can in the real world. ”