Hey, everyone! Long time no see, but Chip Polina is back. I’ve been working tight-lipped on our projects while my dream team was busy writing something. I was surprised to find out that they made materials to help you learn more about metaverses and blockchain gaming, and now it’s my turn to enlighten you on these topics. This time, I won’t burden your brain with technical mumbo-jumbo — just let me explain the essentials of blockchain gaming for starters.
Sometimes referred to as ‘crypto games’ or ‘GameFi’, blockchain games utilize open, permissionless, and decentralized blockchain technology that is revolutionizing the traditional gaming business. By performing tasks, competing against other players, and making progress, users may earn cryptocurrencies, NFT awards, and other financial incentives — this is what draws the line between traditional and blockchain gaming.
Blockchain games increase the value and originality of game assets by leveraging NFTs to build various game components including skins, weaponry, and characters. Opposed to conventional video games, they let players really own the game’s virtual goods. Players may also sell the virtual goods on NFT markets and cryptocurrency exchanges, move them to other video games or virtual worlds, and more.
In 2021, the blockchain gaming market was worth $3 billion, and by 2022, its capitalization reached $50 billion. By 2025, the industry is projected to grow to $39.7 billion. Why has the popularity of blockchain gaming been caught in an upward spiral?
The emergence of these games was fueled by three major factors:
- Massive acceptance of NFTs
- Growth of altcoins’ prices
- Lockdown during the Covid-19 epidemic
The hype was also triggered by the explosion in popularity of P2E NFT games on fast and affordable blockchains like BSC and Ethereum side-chains like Polygon.
About 1.5 million different players from all over the world have been drawn to the blockchain gaming business thanks to its NFT generating capabilities, free-to-play, and play-to-earn models. According to DappRadar, the number of people playing blockchain-based games has surged by 2,000% since Q1 of 2021, accounting for 52% of all blockchain activity.
The basis of the GameFi initiatives is P2E, which differs significantly from the pay-to-play business model used by classic video games like Call of Duty, Cyberpank, Far Cry, and etc. Traditional video games are typically not profitable for users, as the game developer owns and controls all in-game assets.
Some P2E games, on the other hand, are available for free, give users total control over their in-game possessions, and present a number of revenue-generating options.
The P2E model allows players to get incentives for doing in-game tasks, however specifics will vary per game. It’s interesting to note that certain games allow users to stake or lend gaming assets to other players in order to create passive revenue without really playing the game.
What makes blockchain gaming (applicable for new age projects) stand out is that they prioritize gameplay and experience over earnings — so to say, players get back to the roots. At the same time, blockchain games combine the best of the both worlds: immersive plots and visuals of video games, and the possibility of owning and trading digital assets.
Crypto games fall under a variety of categories, much like conventional games, including action, adventure, role-playing, simulations, strategy, etc. Regardless of the genre, new-generation blockchain games put user experience on a pedestal, which implies thorough development and long-term dedication of creators.
So if you’re in search of a worthy blockchain game, pay utmost attention to the team behind it — they should have previous experience in game development, interesting collaborations and determination to make a real masterpiece, not just a bag of money.
Being mobile-friendly is essential since gamers now spend the majority of their gaming time on mobile devices. Games must also have decent UX and well-designed gameplay that is complemented by NFTs and crypto tokenomics in order to draw in a large user base.
First and foremost, you should think of a suitable game — Evrik described a few great options in his review. If you have previous experience of playing MMORPGs, you will easily find some blockchain-based alternatives because the market is saturated with such projects. Those who prefer slower-paced strategic games and quests should opt for games Bluelight.inc.
Whatever genre and game you prefer, you will need to start with one essential step — create a crypto WEB3 wallet.
A WEB3 wallet is required to get started with any play-to-earn or blockchain game — it will allow you to purchase NFTs or necessary tokens to access the game. Metamask is the most widely used free online wallet — it is available both as a browser extension and a mobile app. It supports a wide gamut of blockchains and their coins. Use it with caution and keep your password and seed phrase to yourself at all times.
All blockchain games may be downloaded and accessed at no cost, but a lot of them demand that users first spend money on buying characters, upgrades, decks of cards, or native crypto coins in order to participate. So make sure you acquire all necessary assets to start: this information can be found in the project’s social media or blogs, or you can ask the community.
Once you’re packed with necessary tokens or in-game assets — don’t postpone playing! Early birds enjoy extra perks and are more likely to earn something substantial.
It seems like we’re on the verge of a new blockchain-gaming era that will be marked with mind-blowing projects delivering unmatched experience. So don’t worry if you haven’t caught the P2E wave — the most interesting is yet to come!
I hope this article was useful for you and will help you embark on the blockchain gaming journey. To help you move further on, me and my colleagues will guide you on how to create a Metamask wallet and how to choose the best blockchain games. Shall you have any questions, don’t hesitate to ask them in the comments — expert Chip Polina is always glad to help ;)