How is UGC in Blockchain granting its users actual asset ownership?

Although user-generated content (UGC) has been present in video games for decades, it has not always been as well-received as it is now through blockchain. UGC and its art of self-expression have always appealed to video gamers. ‘Mods,’ which were in-game updates of an existing video game produced by players and often spread through more under-the-radar means like third-party forums on Blockchain, were some of the first types of UGC.

User-generated content (UGC)-based games and platforms have become the world’s most popular digital products. They range from games like Fortnite and Minecraft to platforms like Minecraft, one of the most prominent industry leaders with a UGC-centric business model and has sold over 200 million copies to date.

This extraordinary growth reveals that consumers are eager to buy, sell, and swap gaming things, as evidenced by the billion-dollar sales of Fortnite and Call of Duty. Emerging Blockchain technologies assist in the decentralization and equitable monetization of the gaming business. They benefit both creators and players. On the other hand, companies’ centralized strategy has prevented developers from efficiently serving their needs.

UGC Changing the Way Game Economies Work

Traditional games essentially license digital assets to players. Free-to-play game economies are unidirectional, with players purchasing virtual goods that can only be used within the game. According to the developer’s rules, they limit how they can be held, used, and transferred in a few cases. Even buying, moving regulations, ownership, trading, and usage of digital assets are only as flexible as the developer allows. Furthermore, games with marketplace trading allow only platform credits to be used for digital trading assets, restricting the potential.

When gamers and developers have legitimate ownership of assets, they are granted property rights. However, because it is an asset whose link to its owner is inscribed onto the Blockchain, a blockchain game economy allows actual ownership of digital products. The unique properties of blockchain technology can help with property rights grant and enforcement and establish a trustless system.

Also, read – Delysium, a web3 blockchain game, raised $4 million

In truth, many play-to-win and play-to-win economies already offer actual ownership of in-game goods. Cradles is one such game that gives creators in the ecosystem actual asset ownership and IP rights. As a result, both developers and gamers gain the genuine privilege of their digital assets, giving them the freedom to monetize them outside of the gaming industry.

Solving Gaming’s Fundamental Design Issue

The existence of “whales” in conventional gambling has long been a business feature. These “whales” frequently wind up contributing to the purchase of all digital assets. According to a new Swrve study, 0.15 percent of mobile players account for half of the mobile gaming revenue. As a result, “free-to-play” has become “play to win,” forcing developers to develop fresh content continually. People or players who can afford to spend money on in-game assets do so, while others cannot, resulting in a design flaw.

On the other hand, Blockchain gaming ventures are addressing this issue with their play-to-earn strategy. Even games like Planet Mojo primarily contribute to the traditional gaming landscape’s design faults. Planet Mojo’s NFTs enable digital property rights, which can be used in-game instead of purchasing PVP player improvements. Players can also earn and resell these NFTs to increase their earnings. Furthermore, it enables a DAO system that allows developers to understand what players and members desire, allowing them to align project development with community demands better.

UniX’s Latest Partnership With Planet Mojo! by UniX Gaming https://t.co/VJtg4z7fht @unixplaytoearn @WeArePlanetMojo

— Planet Mojo (@WeArePlanetMojo) March 22, 2022

This new blockchain-based gaming paradigm is putting things right in an industry that has rewarded developers and game firms for the most part. The blockchain gaming ecosystem becomes equal for everyone involved, from game makers to game players. It’s a win-win situation for both the developers and the players.

Furthermore, by providing ownership of in-game assets via Blockchain, game makers may empower players and promote long-term game economy growth without relinquishing control over game operations. And doing so necessitates an understanding of the various types of digital assets available, how they may be used to shape gameplay and game economics, and how they interact with one another.

What is User-Generated Content? And Why is it Important?