Tracking the crypto asset market
An Axie Infinity player with a decent team can earn anywhere between Rs600 to Rs3,100 daily, averaging Rs1,900.
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Gaming has been synonymous with the technology world for the past two decades. Although gaming has been around since the 1950s, it began to become mainstream with advances in microprocessor technologies from the early 1980s, when researchers were able to build simple games after the advent of the CD-ROM. Since then, many companies have managed to exploit the gaming industry with the likes of Sony, Microsoft, Nintendo by producing game consoles and Electronic Arts, Ubisoft, Epic by designing popular games.
Blockchain games
With blockchains at the center of future advancements across various industries, the gaming industry is also beginning to keenly observe how to build and rapidly leverage blockchain technology. We see blockchain or “Play-to-earn” games starting to increase in recent times. These games are usually free to start playing, or we may have to pay some sort of upfront cost, mainly in crypto, to play these games. As we progress, we can start winning rewards as in-game assets in the form of NFTs (Non fungible tokens) which can be some virtual assets like skins, weapons, powerups, etc.
While it may look similar to what we’ve been playing for the past decade, the main difference is that the assets for the game are stored on a public blockchain, and players “really” own the assets they earn. This is considered revolutionary, as we can still have this resource in the blockchain and will definitely have some value, even if the game goes through some problems. The other distinct advantage is that since these assets are held in the blockchain, it may even be possible to move them from one game to another over time, such as using a weapon or a popular skin from PUBG in Call of Duty or vice versa .
Earn through games
Popular blockchain games like Axie Infinity, Sandbox, REVV Racing are gaining traction and players can actually earn a decent amount by playing these games. Below is a list of top five games by their value in smart contracts that have gathered hundreds of thousands of players according to DappRadar.
Like everything in the technology world, On chain games also come with their own pros and cons. Big names in the gaming industry such as Ubisoft and Electronic Arts predict that blockchain technology will play an important role in the games of the future. From a player’s perspective, we should see if enabling this technology can raise or lower the barrier to entering and playing the games.
Since blockchains need a lot of resources for server maintenance and upkeep, this can increase the cost of playing these games. For example, according to loadedgamer.com, the average cost to play Axie Infinity right now is about $300 USD or about 24,000 rupees, but a player with a decent team can earn anywhere between 8$ and 40$ daily, averaging 24$ daily or 1,900 rupees. Game developers are coming up with innovative and refined games to capture the attention of players and we can see many games to earn as well as pay to earn games in the coming years developed with blockchain technology.
Disclaimer: This article was written by Giottus Crypto Exchange as part of a paid partnership with The News Minute. Investments in cryptoassets or cryptocurrency are subject to market risks such as volatility and have no guaranteed return. Do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.
