A recent study conducted by UK based blockchain company Stratis and US-based market research and insight agency, Opinium shows that  58% of video game developers are already using blockchain technology for game development.

The research also revealed that 47% of game studios have started incorporating nonfungible tokens (NFT) into their gaming platforms.

According to the research, three key benefits drive blockchain technology and NFT in the gaming world. They include innovative gameplay, players’ ability to secure value by keeping money in the game, and a real-world value reward system for players.

In the last 24 hours, bitcoin has been down by 2.20%, with a current price of $65,297.17 as of the time of writing this. Within 24 hours, bitcoin dropped to $63,036.18 low and $68,990.90 high. The trading volume of bitcoin in the last 24 hours is $2.38B. The current market capitalization of bitcoin is $1.23T. Currently, $18.86M bitcoins are in circulation.

Stats and Image from Coin Desk

Speaking on the study, the CEO of Stratis, Chris Trew, said blockchain technology enables game players to earn and own a stake in their games.

“Historically, games have been pay-to-play, and the value accrued only to companies and platforms. Blockchain and NFTs turn this situation on its head,” he said.

“They enable players to own a stake in the games they play by, for example, buying land within a metaverse game as an NFT or a car in a racing game,” he added.