Cryptocurrency is gaining in popularity, and it appears like everyone is investing in this relatively new realm. That is majorly why blockchain technology has piqued the curiosity of every major sector.
The gaming industry appears to be one of the earliest adopters of this technology, but what is the future of blockchain gaming?
There is now a significant crossover between the blockchain and gaming communities. People who are interested in blockchain are also likely to be interested in and actively participate in gaming. The popularity of NFTs in the gaming industry exemplifies this, with many uncommon and valuable NFTs being traded within games.
Blockchain is a critical component of the financial technologies of the future. Beyond the world of bitcoin debates, the incorruptible ledger concept is gaining traction. Blockchain, which is essential for hosting a decentralized banking system, can also be utilized by developers who want to include users optimized games.
What Is Blockchain Gaming?
A blockchain is a system that uses cryptography to link together blocks of data in a sequential manner. Because a change in one block might affect the entire chain, each data unit on the blockchain is unique and immutable. The fact that each digital asset in blockchain games is unique is what distinguishes them from regular games. A non-fungible token (NFT) is a unique data unit kept on the blockchain for these digital assets.
The industry is known as blockchain gaming. Play to earn is one facet of blockchain gaming, in which a gamer earns their own unique NFT(s) or cryptocurrency through merit-based advancements in the game, which they may then convert to actual money.
Because each NFT is one-of-a-kind, blockchain technology has encapsulated the concept of digital asset ownership. In the past, a work of digital art, such as an image, could be simply reproduced and used by thousands of individuals without attribution to the original creator.
However, if the artwork is stored on the blockchain as a non-fungible token (NFT), the owner can claim his right to keep or sell the artwork to anyone he wishes. We should point out that this works much better for games than for art.
Blockchain gaming gives players complete control over the digital assets they earn or gain through their participation in the games. Even if players pay real money for their digital assets in traditional games, they will lose access to them if the server is ever turned down. Both the money and the game assets would remain the property of the publisher or developer.
Meanwhile, players in blockchain games retain total ownership of their digital assets, allowing them to freely trade them with other players, sell them for real money, and potentially use them across numerous game universes.
What Are Blockchain Games?
So, blockchain games are created with blockchain technology or placed on the blockchain so that not just one entity but the entire cluster of computers playing the game owns a copy of it. We’ll need a Smart Contract, a form of digital contract that governs actions on the blockchain, to do this.
Gaming is, unsurprisingly, one of the most profitable and popular blockchain applications. Blockchain is currently the backbone of the NFT trade, notwithstanding its association with Bitcoin and Ethereum. One of its most important applications is the creation of digital assets and the ease with which they can be traded and collected.
Important Terms To Know in Blockchain Gaming
- Play-to-Earn
In most blockchain games, the play-to-earn paradigm is applied, compensating players for playing games and participating in in-game economies, allowing users to buy and sell game-related commodities.
Unlike traditional game models such as free-to-play with in-game purchases or pay-to-play, Blockchain-based games give players complete control over their digital assets.
As a result of the system’s virtuous circle, players receive rewards such as weaponry, skins, and gaming items.
- Pay-To-Earn
Users must make an initial, up-front purchase of an in-game asset, often an NFT, under the pay-to-earn technique, which is similar to play-to-earn.
Like the play-to-learn strategy, the item can develop value with time, with the promise of profits serving as an incentive for stickiness.
- GameFi
Both play-to-earn and pay-to-earn models are commonly referred to as GameFi, a term that emphasizes the earning potential of gaming.
A successful blockchain game requires a robust blockchain foundation with high transaction rates and minimal fees. Consumers will not (and should not) pay huge amounts in transaction costs when purchasing or selling things because they are unusable without them.
- Asset Ownership In-Game
Gamers are wary of paying for in-game assets that are not transportable and are governed by the developer. Worse, when a gaming site goes down, players lose all they’ve put into it.
Tokenizing in-game assets, which essentially implies establishing NFTs, allows developers to own assets fully.
The Role Of NFTs
According to Reuters, the global NFT market is worth $2.5 billion in the first half of 2021, up from $13.7 million in Q1 and 2 of 2020. More companies are eager to build their blockchain gaming businesses now that NFTs have joined the market.
If current trends continue, blockchain-based gaming may become a compelling crypto-use case that upsets the massive global gaming industry.
According to a prominent site, over 883,000 daily unique wallets interacted with game-related smart contracts in August 2020, up from 804,000 in July. Since January this year, these estimates have increased by over 100%, showing a more significant trend gaining traction as more game developers unveil blockchain projects.
Overall, blockchain gaming has a lot of potential: the worldwide gaming business is anticipated to increase to USD 314.40 billion by 2026, from USD 173.70 billion in 2020. Current estimates put the number of online gamers at 1 billion and rising — nearly one out of every seven people on the planet.
Blockchain has already been utilized to keep track of in-game assets like weapons, skins, and experience points. These assets can’t be hacked or changed that way. Most of these assets are not only valuable in the game, but they could one day be purchased and traded on an external marketplace like an NFT.
Blockchain appears likely to become a typical component among online gaming promotions from various sites in the future, thanks to significant money and a growing incentive based on public demand.
Furthermore, blockchain would benefit casinos in addition to generating interest from players. Gaming companies must submit extensive reports to regulatory and financial authorities in their respective jurisdictions. An incorruptible ledger would make this procedure easier while also providing additional security for critical information held by individuals and businesses.
Top Blockchain Games You Should Lookout For
1. Gala
The GALA token has risen nearly 300 percent since it was unexpectedly listed. Furthermore, in just a week, its price soared from $0.02 to $0.12, an all-time high. However, according to CoinMarketCap, it is currently trading at $0.080.
Gala Games has recently expedited the production of their games, particularly Town Star and Spider Tanks. For example, they introduced TownCoin, their cryptocurrency, to the first project. In the case of Spider Tanks, the game has now achieved closed beta testing, which players have well received.
With these features, Town Star has been so popular among blockchain gamers. Check out the article What is Town Star Game and how can you earn from it? for more details.
In general, Gala Games shares some features with Enjin. They created one token connecting the whole ecosystem. Moreover, GALA was built on the Ethereum blockchain as well as ENJ but switched to Binance Smart Chain as a BEP-20 asset recently to reduce gas fees.
On the other hand, Gala Games is only part of the way towards creating a multiverse, though. As for now, the project functions as a publisher, game store, and NFT marketplace. On the other hand, the Gala Games and Enjin have several similarities in terms of features. They established a single token that connects the entire ecosystem. GALA, like ENJ, was developed on the Ethereum blockchain; however, it recently migrated to Binance Smart Chain as a BEP-20 asset to save on gas fees.
Gala Games, on the other hand, is simply a little step toward the building of a multiverse. For the time being, the project serves as a publisher, a gaming store, and an NFT marketplace. The developers, on the other hand, have not stated their desire to construct a multiverse. However, it is a viable choice. Developers haven’t expressed their will to create a multiverse. However, the option is possible.
The project portrays itself as a decentralized platform that prioritizes the game. “The blockchain should be invisible,” says one of their first statements on their official website.
2. Smooth Love Potion (SLP)
Axie Infinity is a name you’ve probably heard of in blockchain gaming or the crypto world. No?
This is the most popular blockchain game in the Philippines, with young people abandoning their jobs to earn a cool $2k per month.
In Axie Infinity, players can earn $SLP by playing the game. While AXS is the governance token, it is the closest similar to owning stock in a corporation. Holders of these tokens have the ability to vote on and propose changes to the Axie Infinity platform.
3. Decentraland (MANA)
This is yet another intriguing blockchain game that we feel will quickly become one of the most popular on the platform.
Decentraland is an Ethereum-based program that aims to encourage a global network of users to govern a shared virtual environment.
Users of Decentraland can explore, engage, and play games in this virtual environment while buying and selling digital real estate. Users may now use interactive apps, in-world payments, and peer-to-peer communication, thanks to the platform’s evolution. Check out What is Decentraland? and Why is it interesting? article for more details.
4. The Sandbox (SAND)
The Sandbox is an Ethereum-based metaverse and gaming ecosystem that allows users to create, distribute, and monetize in-world assets and game experiences.
Users in The Sandbox have complete control over their in-world creations because it is intended to disrupt the existing gaming industry, in which platforms own and regulate user-generated content, and artists’ and gamers’ rights are restricted.
In The Sandbox, anyone may create a game, design trendy characters, and complete quests to win SAND tokens. Everyone in The Sandbox contributes to the game’s ecosystem, and as a result, everyone benefits. That is a true play-to-earn business model.
5. Plant VS Undead
Plant VS Undead allows players to be real farmers and earn Light Energy tokens (LP), the in-game currency, which can be converted into Plant vs Undead Token (PVU). To earn Light Energy tokens (LP), players need to put in farming work such as harvesting the seeds, watering the plants, including completing other daily quests.
Moreover, the platform has its own marketplace where players can buy and sell their NFT plants or land. The game runs on Binance Smart Chain that can be connected to MetaMask wallet.
6. Gods Unchained
Card game fans are going to love Gods Unchained. It is an NFT card game that allows players to trade cards to fight with the opponents. By trading cards, it means that players need to purchase the cards from other players. The cards are bought and sold in the game using the immutable X marketplace.
GODS token is Gods Unchained’s native currency. It is an ERC-20 token that can be used to create NFTs and vote for the game’s governance proposal. Therefore, players are required to use Ethereum in supported wallets such as Metamask.
7. Illuvium
Illuvium is an auto-battle game. Players have to fight and win the battles, complete daily quests and rank up the levels, with LIV token as a reward.
Besides, players can collect Illuvials, the NFT creatures, to let them fight the battles. Illuvials can be upgraded and traded on the marketplace as well. More importantly, Illuvium is run on Immutable X which means players are not required to pay for gas fee.
8. Age of Rust
Are you into treasure hunt? Age of Rust lets you take the adventure of hunting over 24 hidden Bitcoin by completing puzzles.
Age of Rust is an interactive story-based crypto game built under ENJIN protocol. It takes you to the post-apocalyptic world where players have to solve mysteries to collect tokens. The scenes are set in a dark sci-fi future where AI has taken over the galaxy. Age of Rust is unique and definitely worth playing.
9. ZED RUN
Are you a horse racing fan? We’ve got something special in store for you.
ZED RUN is a blockchain-based game in which NFTs represent a horse. Because each horse has its qualities, you can wind up with a champion stallion, or your horse may be better suited to become a stud.
These are the four blockchain games that will impact the future of blockchain gaming, and you should also be on the lookout for trading these tokens on our exchange.
10. Alien Worlds
WAX blockchain-based Alien Worlds is among the most intriguing play-to-earn crypto games in the metaverse. You have to mine NFTs with Trillium (TLM) currency to play this metaverse game. The Alien World coin works on Ethereum, WAX, and Binance, adding to its overall value.
You won’t even have to invest a hefty amount, to begin with, 0 funds using free mining tools. Even if you decide to buy premium tools, you can conveniently invest USD1 to USD3.
To play, choose the land to start mining (irreversible), use the tools available or buy if you want, and begin mining hidden NFTs.
11. Farming Tales
Agriculture in the Metaverse? Farming Tales have created quite an experience for you. The play-to-earn game is based on blockchain and lets players harvest NFTs using tools in a crypto farm. You must have a set or singular NFT to begin farming with real farming experience.
There are several farming lands in Farming Tales where you can start your venture. You can purchase land for as low as USD100 and Water Tower (water supply) for around USD45. Having your own land means you won’t have to deal with farming schedules or entrances.
12. Splinterlands
Splinterlands is an easy-to-play game for quick earning. You get to trade while swapping cards to earn rewards. Splinter Land has its own token named Dark Energy Crystal, or DEC for short. You’ll have to fight battles, complete quests, and buy assets.
Begin with creating an account and buying a spellbook. To win, you’ll have to create an account, collect the crypto convertible gaming cards (there are 500+) that you can use for marketplaces like Opensea, and choose your army strategically.
The Splinterlands game is super fun since it works with third-party applications, so there are no restrictions.
13. League of Ancient
One thing that makes League of Ancients a top crypto game is its uniqueness in the crypto gaming market. It has 117 million monthly users. League of Ancients is a play-to-earn MOBA game that is feature-rich. Users get rewards and can earn in real-time.
The League of Ancients has its currency as LOA BEP-20, which you earn if you win. You can choose your heroes where each has its speciality. You can exchange your heroes and NFTs on open crypto marketplaces.
The win depends on your hero and your plan. You will have to beat the opposite team and get rewards.
14. Sorare
Metaverse didn’t want to exclude football enthusiasts from having fun, introducing the Sorare NFT game. It’s a very football-restricted game, and almost all the football clubs (180) are a part of it as officially registered members. It includes betting, and you get rewarded with ETH-backed cards.
You’ll get four free cards of football players picked randomly by the game, and they’ll play on the ground for you. Every league win will gain you NFTs or points, for that matter. The difficulty of the match determines the high rewards. You’ll have rare, so rare, legendary cards to play with.
If you are interested, read the full article about Sorare to learn all about it here!
15. MicroPets
MicroPets is a metaverse game with the cutest NFTs in the marketplace. It’s based on the Binance blockchain, and users have to invest in mystery boxes to stake their coins.
MicroPets is a game, NFT marketplace, and metaverse all in one. If you choose to play MicroPets runner, you’ll have to collect pet tokens [PETS] grab power-ups like speeding or resurrection while you dodge the monsters.
You have to choose rare pets to earn higher APY, valuing around 555%, while the lowest is 100%. MicroPets are everything a lazy farmer would want. It locks your NFTs for 30 days, leaving you with peace of mind.
16. STEPN
STEPN is a Web 3 lifestyle app with built-in Gamefi and SocialFi elements, which consist of move-to-earn mechanisms to encourage walking, jogging, and running.
To get started, players have to purchase some NFT sneakers off STEPN by using GMT tokens, the governance token of this game. Players can earn GST game tokens, which is the game token that has an unlimited supply through exercising.
With GameFi, STEPN aims for millions of users to have a healthier lifestyle and connect the public to Web3.
If you are interested, read the full whitepaper about STEPN to learn all about it here!
17. Star Atlas
Star Atlas is a virtual gaming metaverse built on the Solana blockchain. The player can purchase a spaceship to play as an astronaut, and can even buy other supplies and land in order to search for other planets and fight with other players as an online game.
This game has two types of tokens including ATLAS, the governance token, and POLIS, the game token.
If you are interested, read the full article about Star Atlas to learn all about it here!
Bottom Line
Gaming has gone a long way, and the future of gaming is poised to grow in value as new technology trends are integrated. On the other hand, blockchain is well-known for transferring value and digital assets. In the spirit of a trusted ecosystem, both industries and technology share a need for digital assets.
If you want to see top 20 NFT gaming, Click here to discover more.
Blockchain technology can help solve challenges in the gaming sector. Dapp features, such as the use of non-fungible tokens and transparency, help blockchain games. Blockchain games provide a solution to most challenges encountered by the industry, and the technology has brought the future of irreversible data, which may contribute to the imagination of game tales.
