The term “gamification” refers to the practice of incorporating game-like social and incentive systems into non-gaming software.
With its proven effectiveness, gamification has emerged as a crucial resource for companies and marketers seeking to engage their ideal customers and expand their top of the sales funnel. To encourage more direct engagement in these ecosystems, gamification may be pushed to a whole new level with the introduction of blockchain and the micro-economies that are blooming inside this new architecture. With blockchain’s many technical benefits and the compelling force of gamification working together, companies may more easily overcome hurdles and optimize their processes.
The impact of crypto and blockchain on gamification
Distributed ledger technology is neither the simplest nor most intuitive system out there. Gamification of blockchain systems is one approach to increasing adoption. There is much that the gaming industry can teach other sectors about how to maintain client interest. Newzoo found that there are more than two billion gamers worldwide, making the global gaming industry worth around $150 billion. According to the research, video games now generate more money than movies and music combined. The most popular works of art may generate millions of dollars in sales and support a large number of users at once.
Blockchain technology has been around for less than a decade, yet it has already caused substantial upheaval in many different sectors. This new technical framework has significant potential to decentralize and disrupt deeply established businesses, including but not limited to logistics and the facilitation of cross-border transactions.
The decentralized nature of blockchain offers several advantages to businesses, such as a more trustworthy method of recording transactions, superior infrastructure for hosting services, and enhanced safety features. In addition to that, through gamification, providers can make their services more attractive and unique to their customers. For example, nowadays crypto enthusiasts who are searching for new experiences in gaming, can try out crypto casino aviator game, and get the most out of their playing process. The process of gamification and blockchain embracement opens a window for innovations not only for gambling but for other companies as well. Due to blockchain technology’s ability to provide secure record-keeping and facilitate transactions through cryptocurrencies, it is well-suited for such uses.
Many services are opening up new distribution channels to make use of the advantages of blockchain-based solutions and gamification. Gamification can take many forms. Some projects, like Sandblock, employ smart contracts to streamline their customer loyalty initiatives. CryptoKitties and other digital and decentralized games show how cryptocurrency tokens can be used as a reliable way to represent ownership of digital assets. These examples also show how blockchain has restored honesty and credibility to the gaming sector.
For the purposes of game design, blockchain is the ideal platform. It discourages dishonesty, produces measurable results, and allows for the development of novel gamification features that would be impossible in conventional software. To implement gamification with blockchain technology, NFTs must be created, and the gamified elements themselves must be recorded on the blockchain.
More things to consider
The use of NFTs in gamification allows for more customization and more transparent data tracking than is possible with conventional gamification. It eliminates the possibility of cheating by having the gamification elements written as smart contracts, enables 100% unique gamification elements, and allows participants to make and earn personalized rewards for their participation, such as an avatar made especially for them by their favorite Fortnite player, digital art from their favorite video content creator, or an employee of the month badge issued by their employer.
Blockchain’s immutability and traceability make it ideal for businesses that need to implement effective loyalty programs to put an end to such dishonest practices. The mechanisms of such campaigns can be tracked with the help of smart contracts. Smart contracts’ transparency makes it feasible to learn whether or not businesses are offering unreasonable terms and conditions. However, in a public blockchain environment, unscrupulous participants could theoretically try to join in and misuse the system. Even with well-thought-out gaming rules, persistent con artists can find ways to cheat. This is why it’s important to keep detailed records, so anyone trying to misbehave can be identified.
Some games and gamified campaigns provide points that may be used to purchase digital goods. Items in video games, for instance, may be earned through completing missions and defeating enemies. One or more accounts may be associated with or granted access to these digital goods. Developer guidelines are the primary determinant of “ownership,” though.
Most players are eager to pay real money for in-game virtual goods because of the value they provide. About $15 billion may be attributed to the value of digital goods. Many builders now consider this kind of trading to be an important part of their industry. Most of them consider the buying and selling of virtual goods for cryptocurrency to be against their terms of service.
Transactions for exchanging digital assets often combine gamification elements with blockchain technology. Through this mechanism, blockchain technology may facilitate digital ownership.