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An actively developing industry, DGaming, has successfully generated more than $195 million in revenue during 2018, acquiring roughly 130,000 monthly players along the way. The potential of DGaming was left unnoticed. Until now.
DGaming, or decentralized gaming, is a new phenomenon which is built on Blockchain technology. The first DApps were developed a couple of years ago and It can be truly said that this industry is in the infancy stage, but possesses a huge potential from the technological standpoint.
The decentralized gaming industry can be divided into two parts: decentralized gambling and decentralized gaming. According to State of the DApp at the moment of writing, the number of gambling DApps (decentralised applications) and games based on the Ethereum blockchain are 364 and 410 respectively, with more appearing every single day. While there are many types of DApps, when going by numbers, ones to do with gambling and gaming take the leading positions in the charts. The total number of DApps that have been built on the Ethereum Blockchain comes to 1959.
It is very important to note, that from a technological standpoint, decentralized gaming doesn’t allow any in-game manipulations because the game works through smart-contracts. Every smart-contract is an open-source code which can be audited by anyone. Hence, it creates an honest environment, which is especially welcome in the gambling industry, which is often considered untrustworthy.
Currently, some of the most popular decentralized gambling apps are Fomo3D, Dice2.Win and Bank Heist 4D. Other decentralized games that have been around for longer, like Etheremon and Cryptokitties, don’t seem to have lost their novelty value and are still highly ranked. Undoubtedly, companies who have developed these applications will be rolling out new and more complex games in the near future.
The volume of Ethereum being moved around in the decentralized gaming industry is truly staggering, with DGaming.com estimating 122991.383 ETH (over $27 million) in August 2018 alone. Picking the numbers apart, gambling accounted for 98221.375 ETH, and gaming 24770.008 ETH. These figures will only rise with the 41% increase in users that was also observed over the same month.
The stats don’t lie, this market is growing at a blistering pace, and it is only set to increase when the cryptocurrency market recovers from the downturn and stagnation that it has faced over the past year. The Decentralized Gaming industry will only be further developed and adopted in the following years. Watch this space.