Blockchain technology brought considerable innovation in the gaming sector, creating a unique ecosystem where players can leverage their cryptocurrency investments. Although you must allocate funds to a digital wallet, you may need to buy Bitcoin with a debit card to use them for in-game features; this process is still more efficient than the usual transactions.
Besides, blockchain-based games benefit gamers more than traditional games, where you must comply with the rules set by the company owning the game. This is also why the crypto gaming market is supposed to reach $301.53 billion by 2030 in market capitalization.
Providing a more secure environment and better control, gaming on the blockchain will become mainstream, leaving regular games behind. But is this a good thing?
What recent reports reveal about blockchain-based gaming
Recent reports concluded that the upcoming transition from traditional to modern gaming and the consequences of the pandemic would contribute to blockchain games becoming more popular and increasing in terms of market cap. Considerably competing with games as we know them, blockchain entertainment might indicate a worldwide crypto adoption and mass usage of blockchain.
Other reasons justifying this change include the features of blockchain-based games, such as ownership of assets, transparency and monetization. Indeed, the Covid-19 epidemic propelled this sector as customers demanded more, leading to investments in innovative products and services.
As gamers demand more control over their assets and games, the crypto gaming sector solves most of the limitations in traditional gaming, but with the price of time-investing activities and studies. Players need to learn more about how blockchain works to control it and also how in-game assets and governance tokens work so they can monetize their efforts.
Blockchain-based gaming to promote the development of DeFi
As crypto gaming becomes popular, gamers can and should monetize their gaming assets. This will further develop the DeFi sector, blending into the decentralized finance games industry, where gamers earn money as they play. DeFi protocols allow anyone to gain tradable assets, cryptocurrency, and, in some cases, even real-world goods and services through playing games or staking tokens. Here’s the complete list of making money by playing DeFi games:
- Buy, sell or trade in-game collectibles, which are usually considerably valuable since they’re limited in number;
- Play games, such as Axie Infinity, to earn in-game currency that you can later exchange into fiat money;
- Stake or farm by holding cryptocurrencies in a wallet to receive emission-based rewards, like in Aavegotchi;
- Participate in competitions and tournaments that offer prizes in cryptocurrencies;
What blockchain features improve the gaming sector
Blockchain-based games have improved thanks to blockchain’s features since they’re built, deployed and used on it. Some of the advantages of crypto games include the following:
- Security and transparency in crypto transactions, adding a layer of confidence for users who invest in the games played;
- Encryption systems that protect player information, game data and user transactions from being suspected of hacking;
- Better user experience enhanced by efficient, secure and transparent access to virtual assets;
- Verifying transactions to prevent fraud by ensuring they’re legitimate;
- Trading resources that allow players to trade their assets knowing they can’t be duplicated;
- Integrated gaming profiles for gamers to use across multiple platforms;
Sectors where improvement is needed in crypto gaming
Like in any other industry, blockchain gaming also has limitations:
- The complexity of the gaming process might make it difficult for users to get used to it. Players need to set up user accounts, crypto wallets, buy a specific cryptocurrency and so on;
- The challenge of regulatory rules might hinder a player’s experience as institutions still try to understand how these games function and provide a proper regulatory ecosystem;
- The competition is like no other here, as anyone can develop and deploy a game whose popularity may increase overnight and dethrone others;
Luckily, the nature of blockchain games allows players and developers to collaborate to improve the in-game experience. The community-driven, by consensus, frequently communicates to make games better with their own efforts.
Anyone can create their own game if they’re that passionate and have the time to learn. Here’s what it takes to make your own blockchain-based game:
- Learn to code smart contracts on Ethereum and Dapp development;
- Create an Ethereum account;
- Install the tools required on your computer;
- Code the smart contracts into the game;
- Test, deploy and run the smart contract;
Most popular blockchain-based games
Few crypto games have made it to the mainstream, where almost anyone has at least once heard about them. Their success surged from innovation and proper customer target, with gamers increasing their reputation.
CrytpoKitties, the perfect game for cat lovers
CryptoKitties was launched in 2017 and is among the first blockchain-based game. It involves trading, buying and selling kitties, or storing them to increase their value. Each kitty is unique and has special personality traits, but their appearances are also different from one another. Currently, CryptoKitties is one of the most popular games on the Ethereum blockchain.
Decentraland, the place where dreams become reality
Decentraland launch in 2017 became a success as it created a stir among the gaming community since people could buy digital land. The ecosystem leverages an enormous virtual space where players can create, experience and monetize in-game experiences and applications. The platform built on the Ethereum blockchain allows gamers to play games while walking around the properties owned by other users.
Gods Unchained, the blockchain card game
If you’re into card games, Gods Unchained leverages cards that use the Ethereum blockchain for ownership tracking. These cards are considered unique digital assets that players can trade directly on the platform’s marketplace, eliminating the risks of hackers tracing or using them. What’s best about this game is that it requires no investment, so anyone can earn money and play for free.
Blockchain-based games might surpass traditional gaming at some point since it provides users safety, control and more entertainment. At the same time, players can monetize their game activities and make money by trading in-game assets or creating their own games.