As blockchain-based gaming have gained popularity, the gaming industry has been turned on its head by turning users become the primary financial decision-makers rather than developers.
The trend of play-to-earn (P2E) cryptocurrency gaming shouldn’t be ignored. But it’s important to grasp how everything functions before we go into the specifics.
More people are playing games than ever before. Currently valued at $173 billion, the gaming sector is expected to cross the $300 billion milestone in the following five years, according to extremely promising statistics. This boom is the result of a recent spike of new players, particularly on mobile platforms, which has improved the accessibility and usability of gaming for the estimated 2.6 billion gamers globally.
However, for many people, having fun online is no longer their main motivation. Time is money, as the adage goes, and players have no doubt noticed that they are investing a lot of time in virtual experiences with little reward. They have therefore begun to explore for ways to make money from their passion. Up until recently, there haven’t even been many options for casual players to profit from their gaming efforts outside of the arena of eSports.
What is Blockchain Gaming ?
Blockchain is a type of ledger technology that acts as a method for recording and storing information and cannot be compromised, tampered with, or changed in any other way. In theory, anyone can view a network’s transaction history. A world of possibilities spanning virtual economies are made possible by the blockchain, which drives cryptocurrencies like Bitcoin and Ethereum. Game makers have undoubtedly recognised this potential.
Marketplaces are typically present in most games, allowing players to buy and sell commodities like avatars, loot boxes, and weapons. However, even if they pay real money for it, they might not actually own any of it. This is due to the fact that game producers have had complete control over game dynamics, from the plot to the game assets amassed by players, for the majority of the history of video games. Players don’t actually own their accounts or the things in them because everything is owned by one company. Other drawbacks of this model include its lack of transparency and vulnerability to manipulation of game mechanisms.
Using blockchain, gaming firms no longer have complete control over the entire gaming experience, introducing for the first time decentralised and fair virtual markets where players have a meaningful say.Blockchain technology offers uses in the gaming sector that go beyond supporting virtual economies.
Key Features of Blockchain-Based Gaming
1.Blockchain-based games provide users full control and genuine ownership over their virtual possessions. Assets are typically represented by recognisable non-fungible tokens (NFTs).
2.Players can trade in-game items across several game markets that are housed on the blockchain by connecting in-game assets to blockchain tokens.
3.Building open, distributed, and transparent ecosystems is made possible by blockchain technology. Players, not gaming companies, determine the game’s dynamics, and they have the option to accept or reject changes. Additionally, this prevents experience-ruining cheats.
4.The decision to end a game is entirely up to its authors, regardless of whether it is housed on a single server. With blockchain, players can continue playing a game even if the developers are no longer working on it, and games can generate new plots and assets on their own.
By enabling users to buy, sell, and manufacture various virtual kittens in the form of NFTs, or non-fungible tokens, which transform each virtual kitten into a distinct, valuable digital asset, the game CryptoKitties became the primary force behind this revolution in 2017. The value of a kitten increases with rarity; the most expensive Cryptokitten sold for $172,000, for example.
Can you make money playing games on the blockchain ?
As previously indicated, blockchain games are distinct due to two features: the incorporation of cryptocurrencies, which are utilised for in-platform payments, and the use of NFTs. NFTs are a significant improvement since they allow users to own unique assets that may be traded with other players inside the same game or moved between platforms. As in real-world economies, blockchain games also feature marketplaces where you may make money.
Only the most devoted gamers can get tangible rewards for their work; while those with artistic tendencies can make and sell collectible items. The possibilities are endless, and game designers are just getting started.
In addition, some people have only invested in the gaming sector, while others have made it their full-time profession.
How do I begin playing Blockchain Games?
So, if you’re persuaded after reading this far, be ready to roll up your sleeves and start this. In order to get started, you will need a computer or mobile device. Simple enough, yes? The next step is to choose a site for cryptocurrency exchange so that you may turn your cash into, well, cryptocurrency. There are several exchanges available, but it’s crucial to pick the one that best suits your requirements. Additionally, as the Ethereum blockchain is the foundation for most cryptocurrency gaming, you might want to think about buying Ether. Now that you have some ether, what are you going to do with it? The same as what you would do with actual money: locate a secure location to keep it.You’ll need to open a digital wallet at this point, and there are many solutions available. The only thing left to do now is choose a game to play. You’re now ready to go.
2022’s Best Blockchain Games
Blockchain gaming is still very much a niche market when compared to the conventional gaming sector. But that doesn’t mean that it should be laughed aside. There are currently hundreds of crypto games, which although still a small portion of the overall market, are slowly gaining millions of players (and a whole lot of money).
So let’s take a short look at the key figures in the cryptocurrency gaming industry:
NFTs have risen to amazing heights thanks to Axie Infinity, the undisputed monarch of all crypto games. There are Axies (or digital creatures) in this game, which some people have equated to a Pokemon experience. Each Axie is an NFT. There are axes for sale, trading, and breeding. They can also be used by players to compete against other players or teams in seasonal competitions. Rare Axies can be pricey; one recent sale of virtual real estate brought around $1.5 million. What sets Axie Infinity apart from other gaming platforms is the robust virtual economy that Smooth Love Potion (SLP) and Axie Infinity Shard (AXS) can boast, which recently saw increases of up to 5,700%.Additionally, in contrast to other well-known players, Axie encourages players to cash out.
AXS can be traded for money or ether. In many countries, including the Philippines, where players have converted the game into a full-time career from just a side gig, it has become incredibly popular.
Blankos Block Party
Of course, Mythical Games was well-known before launching Blankos in the cryptocurrency game industry. With a focus on unique designs, this game lets you make your own vibrant figures in the form of digital vinyl toys. Additionally, it enables users to create and explore virtual worlds where they can participate in quests, create their own “Blankos,” and play cooperative games (“Block Parties”). Investors have been particularly interested in limited edition Blankos due to the popularity of collaborations with artists like Deadmau5 and Burberry.
Users can purchase, sell, and trade virtual land that is mapped to the real world in this blockchain-based game. Real estate developers can create homes and make UPX currencies. San Francisco and New York have been mapped as part of the initiative, and you may purchase virtual houses for sale that are connected to actual addresses in these cities. A more recent addition to the game is the Property-to-USD pilot programme, which enables players to sell real estate for cash.
This free-to-play option utilises the Binance Smart Chain and mixes gaming and decentralised finance (DeFi). According to the Mobox developers, this strategy will enable players and investors to access games from several blockchains on a single platform, bringing gaming and GameFi closer together. The primary objective of the game is to give users the freedom to take part in NFT games while earning money while doing so. To control the growth and distribution of resources within the MOBOX ecosystem, MBOX tokens are utilised for transaction processing, staking, and governance. Three games are now playable on the platform, and two more are anticipated to be released soon.
Lightnite has been described as a Fortnite-style battle royale game and was created by the same team behind the Bitcoin arcade game portal Satoshi’s Games. The microtransactions in this multiplayer online game are totally powered by the Lightning Network, and players are rewarded with Bitcoin for shooting other players. The likelihood of winning more Bitcoin increases for players who are skilled at the game and kill more opponents. Players who get shot, on the other hand, are punished and forfeit Bitcoins. Lightnite’s. Through the Elixir Marketplace platform, an NFT marketplace, all in-game assets may be tokenized and traded.
CryptoKitties may have been one of the first games to highlight the possibilities of blockchain gaming and the one that created the crypto-collectibles sector, but it is still incredibly well-liked today. Users can purchase, breed, and exchange beautiful, cartoon-like cats of varied rarities. You own the cats and have full reign to sell them, just like in other blockchain games. CryptoKitties is a really straightforward but compelling game. However, purchasing and breeding new kittens comes at a relatively hefty cost in ether, which may be very taxing on your finances.
Players can own land, create, play, and take part in virtual experiences in this virtual environment, or metaverse. For artists or tiny developers who are uncomfortable using other gaming engines, having a sandbox plot of virtual land allows you to earn money from the experiences you create within the metaverse. The SAND token can be used to buy and sell any Sandbox feature, and as a result, users help to constantly extend this metaverse. Players have more options than just exchanging virtual real estate; they may also exchange NFTs, which can be used to alter the appearance of their avatars.
Why You Should play crypto games?
Players’ desire to profit from their skills in gaming and the time they spend in front of screens is nothing new. The doors are wide open for blockchain gaming. You can not only profit from transparent and equitable virtual economy, but you can also claim actual ownership of game assets, participate in a community-driven ecosystem (DAO), and have your say on choices affecting the game. None of this was feasible in the centralised, traditional gaming industry, and as more crypto games appear, the incentive for users to participate in more transparent and equitable virtual experiences increases.