Everything you need to know about blockchain gaming
Cryptocurrency is one of the much discussed topics in recent years. It has given rise to many questions regarding technology and investment. Along with cryptocurrency, there is another development going on, i.e. blockchain gaming. Blockchain games are widespread and rapidly gaining popularity in many parts of the world.
Now, here’s one thing you need to note – if you want to become a good developer to make some world-class games, you need to have proper knowledge of blockchain technology. There are many Blockchain technology courses which gives the candidates a deep insight into the various concepts and terminologies.
In this article, we will go deep into what blockchain gaming is and tell you some interesting facts about the same. So be sure to read the article to the end.
What is Blockchain Technology?
Blockchain technology is used to power cryptocurrencies such as Ethereum, Bitcoin, etc. These types of cryptocurrencies are like a journal of transactions that are distributed across various networks of computers. Blockchain works on a decentralized model that makes it challenging for people to change the information related to transactions across the entire network.
Use of blockchain technology in games
Usually the systems of the games we play are centralized. As a result, users can only use their traditional game earnings in certain games. However, these games use decentralized models so that users can own the data of the game and further use it in different blockchain games.
Let’s take an example to understand this – suppose a user is playing a blockchain technology game, where he/she wins XP, weapons, etc. Now these weapons can be carried forward and used in other games as well. They can sell these weapons, trade them with other players, or use them to play other games.
This is how blockchain is primarily used in games. It can change the structure of the whole game and help users earn money.
Now a question arises i.e. how to make money through blockchain games? Well, blockchain games give users the opportunity to earn cryptocurrency by playing. There are many ways to earn it, and this depends on the individual game.
However, non-fungible tokens (NFT) are a way to earn crypto. Non-fungible tokens games are another name for blockchain games. NFTs are virtual tokens that have different metadata. This unique metadata makes it very challenging to replace one token with another.
Blockchain games use non-fungible tokens to create various parts of the game such as characters, skills, rules, weapons, etc. NFTs are quite different and they add value to the game assets owned by the players.
Players who hold NFTs can sell them on the market, trade them, or sell them to earn cryptocurrency. The value of each and every token depends on the current market and the peculiar characteristics of NFTs.
Countries where blockchain games are widespread
In many countries, blockchain games are widespread. The list of countries where blockchain games are highly played is as follows:
- The Philippines
- China
- Indonesia
- India
- Vietnam
- Asia-Pacific region
- USA
Let’s look at some other statistics.
- Among millennials aged 25-34, there are 37% of crypto players.
- Gen Zers in the 18-24 age group make up 27% of crypto players.
- Users between 45-60 years old are 15% – 20% of crypto players.
Risks associated with blockchain games
Blockchain games may seem like a fun and easy way to earn money and cryptocurrency, but there are certain things to be aware of. Here are some important tips regarding the same:
- Some games have accessibility and accessibility barriers. For example, in games like Axie Infinity, users must have at least three Axies that are for $300. This is the user’s first investment.
- As a player, you can also lose some tokens.
- Blockchain players do not comply with financial standards such as anti-money laundering regulations, fraud, fraud, etc.
- Players can also lose money on market fluctuations.
- In blockchain games, there is a limit to the withdrawal of tokens.
How to start playing blockchain based games?
To start playing blockchain-based games, one must have cryptocurrency and reserve it in the wallet. Most blockchain games are created and based on Ethereum. As a result, a player needs to research what kind of cryptocurrency is best for them.
Players must also select the game they wish to play. Also consider what kind of games are fun and how much they cost. Then understand how it is played and how you can make money.
Once you have information about this, you can start playing games and earning cryptocurrencies. After knowing about how to play blockchain games, let’s look at the best blockchain games you can play and earn side by side.
Top blockchain games
We have compiled a list of favorite blockchain games for you to start playing.
- Axie Infinity
Players who play Axie Infinity collect axes that are used in conflict against other players. When players win a match, they earn a potion called “Smooth Love”. This potion can be traded, bred and collected further. Axie Infinity is a pokemon like game. This game encourages all players to earn money and convert Axies into cryptocurrency. The game is primarily used to entertain themselves in the Philippines, where people have made it a full-time profession to make money. Thus, Axie Infinity is one of the best blockchain games that help you earn money.
- CryptoKitties
Another popular game that has attracted attention is the CryptoKitty Game. CryptoKitties are always marketable and popular. In this game, users can acquire, breed and make a deal for cartoonist cats. Just like in the games mentioned above, players in this game can buy real cats and trade them. Thus, CryptoKitties can be called a simple yet addictive game played by many individuals.
- Lightnite
Lightnite is a fighting game similar to Fortnight. This game involves many players that reward them with Bitcoin. Players who know how to play this game have increased chances of receiving more Bitcoins. On the contrary, participants who are not good at playing and are often penalized lose Bitcoins. This game is about earning tokens and exchanging them on the NFT market.
- Mobox
Mobox has an open and free gaming option that combines gaming and the chain associated with Binance. The creators of this game emphasize that this game will bring players and shareholders together to take part in games from other blockchains. The main goal of Mobox is to help users take part in non-fungible token games, thereby helping them earn money just by playing. The tokens obtained in Mobox are used to carry out the process of transactions, tethering and administration to influence the growth of resources in the Mobox ecosystem.
- Upland
This blockchain or distributed ledger technology game allows users to acquire, sell and trade the land. ‘Digital Landlords’ in the game acquire the properties and help players earn money/coins as well. This game also implements a trial program that helps one to earn properties, money, cryptocurrency, assets and much more.
There is nothing new about players wanting to make money from their gaming skills. Blockchain games open wide doors for opportunities to earn money and buy various assets, properties, land, etc. Previously, this type of buying and selling was not possible with the centralized game mode. With the rise of crypto games, the chances of getting incentives have increased.
If you also want to start playing blockchain games or develop them, it is important to have prior knowledge of blockchain technology. There is no shortage of it Blockchain Technology Course which you can apply for! These courses go deep into blockchain technology concepts, techniques and terminologies. Whether you are a developer, user or gamer, it is important to have a thorough knowledge of blockchain! Apply today for these courses and get into the blockchain gaming/development industry!
