Blockchain is the technology that powers cryptocurrencies like Bitcoin and Ethereum. This distributed ledger records information publicly and permanently, using cryptography to maintain data confidentiality, integrity, authenticity, and non-repudiation. Blockchains provide trust between parties without needing an intermediary to authenticate transactions or account balances.
The blockchain is an enormous database filled with thousands of transactions that are immutable or hard to alter afterward. Crypto gaming uses blockchain technology to create games and game platforms. The aim is to eliminate game issues like cheating, hacking, theft, and all form of manipulation.
Combining blockchain technology with the power of artificial intelligence (AI) will bring about splendid changes in gaming. Some newly experienced games are attracting players from all over the World, making it a fast-developing sector in online gaming.
You are familiar with NFTs. Consider them digital assets backed by ownership certificates that cannot be falsified. Nothing you post online can be considered truly yours: Your entire digital estate consists of data points that are stored on company servers and can be removed at any time.
However, users who “mine” non-fungible tokens, also known as NFTs, create one-of-a-kind on-chain assets that are entirely theirs to keep. Because each record is encrypted, trust can exist as decentralized, and ownership can be established in a way that cannot be revoked.
This has enormous implications for gaming. Since December 2020, the total volume of NFT trade has increased from $135 million to $64 billion. In the past year, the blockchain gaming industry experienced growth of 2,000% and has attracted investments totaling over $2.5 billion.
The concept of storing long-lasting in-game assets on a blockchain has captivated many people’s imaginations.
The items that players acquire will now be able to be traded for monetary value with other players. When it comes to game companies, their properties transform into permanent platforms on which other designers can build their games and experiences. However, although these ideas are fascinating, the field is still in its infancy and faces its fair share of obstacles.
Decentralization and transparency are sacred principles of Blockchain gaming, but they only sometimes guarantee success. Several challenges await the industry: there are no standards for crypto games, and the market needs to be bigger to support each game properly.
Crypto gaming handles transactions on a blockchain and provides significant security features, but they have yet to find its true value. One reason crypto games see such a limited audience is the high cost involved in developing and maintaining these titles.
Concept of blockchain games
Many applications for blockchain technology, including cryptocurrencies and NFTs, could be used to monetize video games. The players of many live-service games can earn in-game currency and trade it with other players for in-game items, such as character skins and other in-game items.
These options for in-game customization can be found in many live-service games. Several games also permit the buying and selling of virtual items with currency from the real World; however, this kind of transaction may be against the law in nations that consider video games analogous to gambling.
Because of this, grey market issues such as skin gambling have arisen. As a result, game publishers have generally been reluctant to give players the ability to earn real-world money through gameplay.
Players are typically able to trade in-game objects for cryptocurrency in blockchain games. Cryptocurrency can then be exchanged for real-world currency, which may eliminate some of the issues associated with grey markets due to blockchain’s inherent traceability.
This is not to say that blockchain-based games are completely free from these problems since the platforms can still be susceptible to botting and other forms of cheating.
Some companies have been offering their blockchain-based in-game products. Trying to tap into the cryptocurrency trading market, several companies worldwide began offering their private versions of cryptocurrencies.
Play-to-earn blockchain games can be life-changing
Players can earn real money while they are participating in blockchain gaming. This is quickly becoming a career option of choice for a great number of people in developing nations. The Philippines has a population that has adopted blockchain games at a rate of 20% of the total population and is responsible for 40% of the player base in Axie Infinity.
It has been reported that some Filipino workers earn two or even three times the standard minimum wage in their country. LATAM countries like Argentina and Brazil are very close behind (one of Argentina’s most popular gaming sites, Decentral Games, attributed this to the significant inflation in both countries).
It is important to remember this fact for anyone interested in fully comprehending the potential of play-to-earn, or P2E, gaming. This suggests that having sustainable tokenomics goes a long way, particularly for game developers.
In addition, because people in different countries have varying income levels, cultivating a P2E fanbase in developing nations can be an effective strategy.
Businesses and investors must have a complete understanding of the whitepaper for each project. In addition, nations such as the Philippines and Argentina may offer an opportunity for expansion that can’t be passed up.
Brazil is also a viable market for blockchain games: a developer recently created a site that allows visitors to earn over $300 monthly with just 5 hours of play per week.
The opportunities made available by blockchain gaming are immense. In addition to retaining ownership of digital items that can be traded within the game, gamers can receive tangible items directly through proof-of-work mining and exchange those items for real money.
Top Blockchain Games You Must Know
On the Ethereum, WAX, and BSC blockchains, the decentralized metaverse known as Alien Worlds can be found. It was made available by Dacoco in December 2020. It had more than 700,000 active users in the preceding thirty days, which propelled it to the top of the charts for play-to-earn blockchain games.
Within this metaverse, players can mine Trillium, which serves as the game’s currency, own land, finish quests, explore planets, and do many other things. One of the most important aspects contributing to this game’s widespread appeal is its abundance of financial opportunities.
The player is given a basic shovel at the beginning of the game, which can be utilized to obtain resources from various planets. On the other hand, its mining power is relatively small, which is to be expected given that it is a free starter shovel.
The objective is to improve the equipment used for mining to increase the amount of Trillium extracted from the ground. Players have the opportunity to acquire more powerful tools either through mining or by completing various quests.
Players have a variety of objectives and quests to complete while on interplanetary missions. Because of this, their chances of obtaining a valuable NFT reward are increased.
Land in Alien Worlds
The fact that real estate in this game commands such high prices is one of the factors that contributed to its meteoric rise in popularity.
A different player owns every piece of land in the game, and when a player mines Trillium, a portion of the resource is given directly to the landowner. In addition, the landowner can determine the commission rate. The possession of a land NFT card is a representation of land ownership.
The standard commission rate for player mining operations on land owned by the Federation that has yet to be put up for sale is twenty percent. There are twenty distinct kinds of land, each with its characteristics.
Players can obtain Trillium in various ways, including mining, and it can be used for various purposes once it is obtained. For instance, to purchase various items and take part in quests. However, players also have the option to stake it to take part in the governance system, they can stake it to a planet, and it can be used to increase the Shine of NFTs.
Benji Bananas is a mobile arcade game based on physics and allows players to control an ape named Benji as he navigates through vines in search of bananas and other precious assets.
Benji Bananas was originally developed as a traditional video game in 2013. Still, after Animoca Brands acquired the rights to the franchise in 2022, they decided to convert it into a blockchain game.
It was initially developed as a traditional mobile game, which means that it is very fun to play, and its mechanics are very addictive, which is not something that can be said about other web3 games. It is no surprise that Benji Bananas has many downloads and active users: 50 million downloads to date and over 400,000 active wallets in the most recent 30 days.
EggLand is a pixelated fantasy world that players can explore in CryptoBeasts. There are 10,000 different plots of land to choose from. Each piece of land contains a single rare egg, the primary non-fungible token (NFT) in the game, and doubles as the game’s governance token.
Because mining has already been completed, all 10,000 of these rare eggs have already been unlocked. This means that new players will not be able to find them in-game, but they will still be able to purchase them on the secondary market.
You can keep eggs as eggs or hatch them into CryptoBeasts. When it comes to the governance of the World in this massively multiplayer online game (MMOG), a player’s level of influence increases in proportion to the number of eggs and CryptoBeasts they possess.
The Tiny World platform is a decentralized autonomous organization abbreviated as DAO. The vast majority of the profits made by the platform go in that direction.
In addition, players can lock up their TINC to earn veTINC, which serves as the governance token for the platform. Users who possess it are granted voting rights in the DAO and rights to treasury shares. Last but not least, these users are eligible for Treasury Rewards.
Tiny World is not a game but an ecosystem for blockchain video games that currently includes three games: Tiny Kingdoms, Tiny Farm, and Tiny Dungeons. Tiny World is not a game in and of itself.
Tiny World’s daily active users have been growing, even though these games have a different level of popularity than others on this list.
As stated on the game’s website, tiny World reportedly has under 200,000 active members and more than 20 million in NFT trading volume. According to DappRadar, Tiny Worlds had approximately 90,000 active wallets over the previous month.
Farmer’s World is one of the earliest examples of a farming-themed blockchain game to hit the market. Up to this point, it has been fairly successful; during the last month, more than 120,000 people have been actively using it. (DappRadar)
Mining for various resources, including food, wood, and gold, is the focus of this game’s gameplay. To accomplish this goal, players need tools, and different types of tools are required to mine different types of resources. Some common tools include an axe, saw, and chainsaw to remove wood from a tree.
In addition, these resources are equivalent to the following three tokens: the Food Coin, the Wood Coin, and the Gold Coin.
It only makes sense that more sophisticated tools would produce a higher yield for players. They can buy these tools from either the WAX marketplace or secondary marketplaces. The same can be said for the tokens used in the game.
Energy is required of players in addition to tools to extract resources successfully. Players can restock their energy with food coins.
Wood and Gold Coins have their uses explained in the game’s instructions. The first option allows players to purchase new tools, while the second option allows players to repair existing tools.
The Joyride web3 ecosystem, of which Trickshot Blitz is a component, aims to be the first to bring blockchain gaming to the World of mobile gamers. You can find games developed in-house and games that partner studios developed on this platform.
Because of this, it presents a fantastic opportunity for developers, as they will be able to publish and expand their web3 games via this platform. In addition, Joyride makes it simple for anyone to incorporate all of the components of a play-to-earn model, such as non-fungible tokens, wallets, and so on.
A quick reminder about Trickshot Blitz: this is a traditional pool game in which players compete against one another and enter tournaments. However, in contrast to classic pool games, players can earn RLY tokens.
Future of blockchain games
The cryptocurrency industry is still relatively new, so most blockchain games are still developing. Many of these games have yet to release an official English version but will likely do so in the coming years.
The use of blockchain technology has created a vast array of opportunities for developers to explore. With every passing day, it is becoming more and more apparent that this technology can be utilized for more than just currency transactions.
Since the first blockchain game was developed in 2013, the World has witnessed many games utilizing this technology. All of these games appeal to different audiences, which has led to various game genres and styles emerging from these games.
Some developers have focused on creating gaming platforms that serve as a transactional gateway to other blockchain-based applications. Ethereum is a platform that is often utilized for this purpose.
Blockchain-based distributed applications (DApps) are the third driver of blockchain platforms.
The main concern of gamers with blockchain games on their radar is the level of security in each game’s system. The reasons why this may be the case are various, but all boil down to one thing: money.
As blockchain games become more popular, developers will have to fight tooth and nail to raise awareness. New opportunities are opening up daily, some of which can be extremely lucrative.
However, developers must emphasize adoption and marketing opportunities because competition is growing exponentially in the blockchain game market. This industry needs growth, so when it comes to getting the word out about your product, there can always be more effort or time put into it.
Blockchain games will be more prominent in the future, so developers need to pay close attention to this industry. Once this happens, the next step is to create a game that stands out from the crowd.
Gaming trends came from different angles and were created by different groups. New methods for marketing and engagement have been invented and adopted; mobile games have re-emerged after a long absence, and social interaction in games has also seen an increase in popularity.