The gaming industry’s decision to recognise mobile gaming’s unique selling point was greatly influenced by technology. Similarly, for blockchain-based games, dedicated blockchain technologies integrated within game development platforms with better features and functionalities will help expand its profitability in the market.
Talking to AnimationXpress, the metaverse, game, and blockchain development company Yudiz Solutions chairman and director Bharat Patel shared, “In terms of global blockchain-based games, the APAC (Asia-Pacific) region holds 40-60 per cent of the users. Multiple studies reveal that India is adopting NFT gaming at a fast rate. There has been a 35 per cent increase in the users exclusively since last year and most of the users are interested in P2E (play to earn) games. So it is not surprising that India will lead the blockchain gaming market by adopting modern co-creating technologies like cloud, Web3, NFT-P2E, digital money games, AI/ML (artificial intelligence/machine learning) and deliver the best gaming experience globally.”
According to Patel, their main aim is to offer scalable solutions that combine various technologies. And co-creation is a key step in putting the groundwork in place for that. As co-creation has enormous potential, their organisation educates itself on it. They have created numerous projects that demonstrate their development skills like its blockchain-based games BFK Warzone, MetaTank, and Dark Galaxies. At Gamexx 2022, one of the titles, BFK Warzone, won Game of the Year.
To create a streamlined NFT marketplace-based gaming experience, Yudiz Solutions integrated difficult technologies including blockchain-based smart wallets, Bitbucket, Google and Apple coding standards, NodeJS and MongoDB, among others. For the optimal NFT P2E experience, users could gather prizes and exchange them on a specific platform.
According to Patel, there will soon be a significant technological and financial upheaval. Users are constantly intrigued by the latest developments in the gaming industry, and the advent of ideas like GameFi – game finance – will alter how we view online entertainment. Achieving scalability today depends critically on financial stability. Therefore, the best option is money creation that benefits both users and developers.
“Smart wallets, digital collectibles, in-game purchases as well as rewards make the games more interesting, while generating profit that eventually supports the creators, developers and industry experts to fabricate the best entertainment. This is where GameFi comes into play; the financialisation of the gaming industry is as important as setting the engagement bar high and delivering amazing experiences,” he added.
Like any other industry, the blockchain gaming industry has challenges too. One of the biggest challenges is regulation i.e. the laws governing technological transformation. “India’s judicial authorities will have to put forth laws which benefit both the game developers and the users,” Patel said. “There is a significant need for compliance and regulatory boards who monitor the earning model for such a massive user count.”
Although blockchain technology has been around for a while, the past two years have seen tremendous growth in India. Even before the late 2017s and early 2018s, creative ideas were discussed for blockchain technology. But it wasn’t until the technology began to take off successfully that the reliability issue was revealed.
India needed to thoroughly investigate the foundations of blockchain technology, including its scalability, dependability and security. Once we were confident that the technology that is currently available can assist us in achieving those three important socioeconomic aspects, we raised the green flag.
As per Yudiz’s market research, “Numerous game development companies have integrated themselves with blockchain technology to host seasonal tournaments, events and live streams that allow participants to earn rewards through multiple avenues. NFTs have now been recognised as important digital assets that are tradeable on decentralised platforms. They are being considered as global IPs, penetrating the mainstream culture of centralised financial systems. These digital collectibles are available or can be earned by completing a specific set of tasks on crypto-games. The biggest trend that was announced by the official blockchain development authorities is Gala Games, a gaming platform consisting of all the GameFi models, most of which are decentralised. The aim is to benefit the creators and users by granting the ownership of various aspects of blockchain based gaming.”
With a trade volume of USD one billion, Axie Infinity, one of the most well-known blockchain-based games, is at the top of this ecosystem for digital collectibles and has the biggest collective worth of NFTs. One of the three major developments reshaping the blockchain gaming market is the integration of NFTs into games, which is the most lucrative use case for blockchain gaming. Blockchain games make this possible by creating a decentralised platform to reward, sell and purchase those NFTs. The notion has drawn powerful personalities, companies and entertainment specialists who are prepared to produce and trade their NFTs online.
“Looking at these advancements, we understand the importance of NFTs in GameFi and we are going to introduce more of our own NFTs and NFT-based P2E games,” Patel added. “We already have one of our products exploring this area and our game development experts are working to successfully integrate NFTs into our existing developed games.”
To create such transformation, the IT development organisations have to show cutting-edge concepts supported by dependable and secure technology in order to shape the general public’s impression of blockchain gaming positively in the following years.
Speaking about their current works, Patel shared, “Since our process involves being part of our clients’ expeditions even after the completion of the project, we are currently carrying out support expertise for BFK Warzone, and exploring ideas to make our development approach much better in terms of technology tools and manpower. We are also working on an action RPG (role-playing game) game that will allow an NFT drop each time there is a winner. The winner will be rewarded highly quality NFTs and we consider NFT P2E games to have tremendous future potential. Apart from the blockchain based gaming sector, we are actively involved in developing a wide spectrum of solutions. We share industry leading expertise in providing metaverse, AI/ML, AR/VR and high-quality game development solutions too.”
In the coming months,Yudiz Solutions is expanding its business in terms of not only infrastructure but also technological know-how. They intend to establish their next bases of operation in Bhubaneswar and Indore, both of which offer tremendous potential. In addition to this, the company also has plans to expand internationally.
They are adding more research and development departments that will carry out advanced operations in the Web 3.0 and metaverse sectors. Their primary goal for 2023, as well as the following years and technical phase, is to continuously study the dynamics of co-creation.