Although blockchain gaming is still in its infancy, it has gained a massive following in recent years. A report reveals that a staggering 804,000 unique users participated in blockchain-based games in July 2021 alone. Part of this success can be attributed to play-to-earn games like Axie Infinity which provide users with not just a rich gaming experience, but also opportunities to earn income.
In this article, we will explore how blockchain gaming works and what the future holds for this new industry.
Understanding Blockchain Gaming
Simply put, blockchain is a chain of data blocks shared across a network of computers, working together to record information. Data added to the chain cannot be altered, making it nearly impossible to cheat the system.
Blockchain games are decentralized, which means that no central figure has full ownership over the system. And unlike traditional games, blockchain enables users to have complete control over in-app purchases and winnings.
In blockchain gaming, users use crypto coins like Bitcoin, Ethereum, and Litecoin, to purchase digital assets called non-fungible tokens (NFTs). These items have real-world value, enabling users to monetize their assets by trading with other players. Likewise, assets can be transferred to a digital wallet, just like crypto coins.
How Blockchain Is Changing the Gaming Sector
Besides profitability, blockchain gaming also offers the following benefits to the gaming sector:
- Improves gaming experience by granting users immutable ownership of in-game assets
- Gives players more control over in-game assets, thus protecting the time or money that they have invested in the game
- Forges trust between game developers and distributors by recording transactions on a blockchain
- Provides solutions to the high-cost, low-revenue issues presented by cloud gaming initiatives by running the server over a blockchain network
- Reduces the risk of cheats and hacking through the use of a decentralized platform
- Offers opportunities for investment as players engage freely in trading, selling, and purchasing of in-game assets among themselves
- Provides safe payment methods by using cryptocurrencies instead of credit cards that are often at risk of data breaches.
Top Blockchain Games on the Market
Here are a few titles that have dominated the blockchain market:
With over 1 million active players, Axie Infinity is one of the most popular blockchain-based games. To start, players need to purchase three Axies (digital pets) from the built-in marketplace. If a user lacks funds to purchase an Axie, they can choose to apply for a “scholarship.” All in-game items, including Axie Infinity Shards and potions, can be sold, bought, and traded.
A play-to-earn RPG, CryptoBlades allows users to earn “SKILL” tokens by raiding with other players, defeating enemies, and staking gains. Users can create characters and weapons or trade in-game assets on the game’s proprietary marketplace.
Splinterlands is a trading card game where players can trade, buy, or sell collectible cards by defeating monsters and collecting in-game rewards.
The Trusted PR Agency of Crypto Firms
Keeping up to date on the latest trends is crucial when running a blockchain business. At ReBlonde Public Relations, we can help you stay in the loop.
Our team will keep you up to speed on developments in the gaming market while providing valuable insights to improve your branding. We also provide top-notch blockchain PR services that will help your products get noticed by the right audience.
Schedule a call with us today to find out what great PR can do for your blockchain business.