Blockchain games are based on blockchain technology and use elements of cryptography; that is, they are often games that use cryptocurrency as an in-game tool.
Let’s look at the use of this technology inside gaming products.
The most significant item that this technology holds inside the game is the definitive possession of one or another item. By purchasing, for example, an in-game NFT token, a player can be sure that he possesses a truly rare thing and can dispose of it outside the game. It becomes possible to exchange with others freely, without transferring your entire account, for one item. This provides an entirely new player-driven economy where everyone can create unique content.
The question arises, how will blockchain based game development monetize their game if skins are created not only by them but also by users? The simplest option is a commission on trading. This percentage can be compared to the percentage deducted from the artist for each subsequent resale of his NFT.
The most popular type of game currently, with a unique in-game economy, is farming-based games. Now in the crypto market, we have a lot of games that allow you to farm cryptocurrency. These are DeFi games where you can earn money, though in a particular equivalent, cryptocurrency or NFT.
Are crypto games trending in 2022?
Blockchain technologies have become more complex and exciting over the past few years. They are evolving and scaling. Since many people were at home in the past two years, interest in digital products, including cryptocurrency and crypto games, has only grown. The ability of players not only to buy items and spend money inside the game but to earn them themselves creates tremendous interest among gamers and significant players in the game industry.
Interestingly, many crypto games give a monetary reward for primitive actions – completing quests and gaining experience. One of these games, Axie Infinity, received many good reviews and is a highly successful project. Can this be a full-time job for someone? It’s yes. And it looks like traditional esports will soon have a strong competitor. Read more information here: https://unicsoft.com/blockchain-development/nft-game-development/.
Blockchain Gaming Drives Mass Adoption of Cryptocurrencies
Gaming is a vast market with a volume of over $177 billion and an audience of 2.7 billion people. No wonder blockchain startups are vying for it. But the cryptocurrency market is much larger. Therefore, it is natural that game publishers are also looking at the blockchain.
Crypto enthusiasts believe that blockchain gaming will become a shining example of using technology outside of the financial sector, revitalizing the industry and making game mechanics more exciting. But so far, much of the infrastructure needed to make this happen smoothly has yet to be in place. Blockchain will become in demand in the gaming sector only when it can prove its value to the industry. Fortunately, all the problems facing using decentralized technologies in gaming are solvable.
Blockchain games are more than just entertainment. They can play an important function in the space of cryptocurrencies.
