God requires blood for reckoning of people...and beasts?

I’ve been reading my Good Book and I ran across this little morsel, Gen 9:3–5

3 Everything that lives shall be food for you; and I give you everything.

4 Only you shall not eat flesh with it’s life, that is, its blood.

5 For your own lifeblood I will surely require a reckoning: from every animal I will require it and from human beings, each one for the blood of another, I will require a reckoning for human life.

This is part of the blessing God gives Noah and his sons after the flood. What’s I’m not sure about is this reckoning. Up until this point there was no mention of any final judgment in the Bible and it’s introduction here doesn’t seem to distinguish between the reckoning of humans and animals. Am I right in thinking that this particular passage seems to hold the idea that both humans and animals will face a reckoning?

And what’s with the blood? This implies God somehow needs your blood to facilitate reckoning. Or is this a matter of him wanting you to reserve the blood because that should be sacrificed to him? Like some sort of blood tax you have to pay once you die?