2022 Prediction: Blockchain Gaming Can Lead to Further Crypto Adoption

Vinod Dsouza
Blockchain gaming technology
Blockchain gaming technology will be the driving force in the crypto market in 2022.

2021 changed the entire landscape of the crypto market by widely adopting NFTs and the development reached the mainstream audience. NFT also became Collins Dictionary’s word of the year for 2021 and the digital artworks soared in popularity. In addition, blockchain gaming technology took center stage in 2021 and is touted to be the next big thing in the crypto sphere.

Metaverse and blockchain gaming companies have received close to $500 million in funding in 2021. The development was so quick that even top traditional gaming developer companies such as Ubisoft announced an in-house NFT integration.

Blockchain gaming is still in its infancy but is the most-awaited development by people around the world. Experts state the new tech will revolutionize the gaming industry and pave way for the crypto market to hit the mainstream.

The blockchain gaming tech will lead to further crypto adoption in 2022 and bring in more new and first-time investors. Over the years, blockchain gaming will attract newer people as the tech is fun and easy to grasp.

“It’s going to lead the adoption curve because of the nature of the medium. It’s entertaining and it’s fun. It makes crypto easy to grasp. With Axie Infinity you have minimum wage earners in the Philippines who understand what a crypto wallet is and what a DEX
is. A lot of my own friends don’t get that yet,” said the co-founder of Naavik. Abhimanyu Kumar to Blockworks.

Developing Countries Could Be The Drivers of Blockchain Gaming

People in developing countries want to achieve financial freedom but the options to attain it are narrow. Blockchain gaming tech could be a revenue generator as it includes options to earn while playing.

Experts suggest that people in developing countries who are longing for financial freedom will take blockchain gaming to the finish line. Millennials in Venezuela and the Philippines have gone all-in for cryptos with the hopes to lead a good life.

“It’s really developing economic value for people who spend their time (in gaming). And can become by definition a job with a revenue stream,” said the president of Blockchain Game-Alliance, Borget Sebastien to Blockworks.

Could There Be Roadblocks To Blockchain Gaming?

The road seems to be smooth for blockchain gaming technology as there’s no government regulatory intervention at present. Over time, if authorities get involved in the tech and start regulating it by framing rules, the enthusiasm could dip. Government rules and regulations usually come with their own bad news that could hamper the spirit of new entrants.

For blockchain gaming to thrive, the tech needs to be free from any government innervation. That is when the industry could see its full potential as a revenue generator.