United States – Blockchain technology crops up in different gaming genres, providing more options to gamers.
In the past years, games that utilized blockchain technology boosted the gaming industry. The trend earned steam that even gaming studious explored the technology, such as CryptoKitties, in 2017.
At the start of this year, blockchain games’ market capitalization was about $25 billion, yet it doesn’t appear to be reduced, despite the complexities of a bear market. As per DappRadar, an analytical service, the two stable sections in the crypto market are nonfungible tokens or NFTs and blockchain games, creating a new monetary occurrence.
Axie Infinity is a sample of a blockchain game where the price of a token is boosted by over $150. The increase provided the project with a capitalization that’s over $9 billion. The audience approached about 2 million users.
By December 2021, as Bitcoin or BTC started to drop, the value of tokens from Axie Infinity also dropped. However, the audience of this game grew bigger, which is about 3 million users daily, while the transaction in the network boosted four times.
We’ll share the reasons why. At first, blockchain games utilize browsers, while the creators utilize WebGL and HTML5 technologies. These technologies expanded the probabilities for creating browser games. As games repopulated the browsers, these also gave the capability to link digital asset wallets and withdraw NFTs to outside marketplaces without monitoring restrictions.
Blockchain games don’t have competition since the typical PC games refer to the technology as incomprehensible. It lets small studios have a big head start on the improvement since these are not yet able to make huge gaming franchises. The ability to immediately introduce the in-game market lets developers fund the sustained improvement of the game worlds without needing debts.
Lastly, blockchain games are all about income since the games players can get money by playing. When users get tokens after spending time or completing tasks in the game, games can convert or invest these into real money.
Different blockchain games are available, like typical PC games, which work from a mobile app or a browser. These games have a user-friendly interface and simple controls for beginners.
These games have different genres with a common feature wherein developers use smart contracts to develop the game. It will let games obtain valuable digital assets. Hence, all games are P2E or Play-to-Earn, wherein genres include strategy, sandboxes, online multiplayer arenas, and actions. Another genre is the “x-to-earn, where you need to do a task to get income. It’s unlike other games that you can play.