Blockchain technology is enhancing the online gaming landscape. It allows for verifiable in-game ownership and real-world rewards, creating exciting opportunities for players.
This guide explains blockchain gaming, how to participate, and some of the popular games in the industry.
What is Blockchain Gaming?
Blockchain games are video games that are built on blockchain technology. They are also known as crypto games, NFT games, web3 games, or metaverse games.
Blockchain gaming gives players actual ownership of their in-game assets, allowing them to move assets between games easily and without relying on a central authority. This means that players can earn money while participating in the game.
Unlike traditional video games, where players spend time and money on assets they don’t truly own, blockchain games enable players to own virtual assets, such as characters, weapons, or virtual land, and sell them on external marketplaces for real-world value.
This novel method provides transparency and security while enabling players to receive compensation for their talents and hard work, making it more interesting and profitable.
How to Get Started
If you are intrigued by the possibilities of blockchain gaming, here is how to get started:
Do research: It is important to spend time exploring various games to gain a thorough understanding of their gameplay mechanics, tokenomics, and earning potential. Review websites and online gaming forums may be valuable resources for gathering insights and tips before investing your resources and time. By making informed decisions, you can enhance your gaming experience while potentially increasing your earnings.
Set up a crypto wallet: Blockchain gaming allows players to earn cryptocurrencies or NFTs as a reward. You will need to create a digital wallet for your rewards. This wallet will provide you with secure and easy storage for the digital assets you earn while playing games. To get started, you can choose from popular wallets such as MetaMask, Trust Wallet, and Coinbase. It is important to remember that selecting a trustworthy wallet provider is crucial to ensuring the safety and security of your valuable digital assets.
Buy cryptocurrency (optional): Notably, some games can be played for free while others may require you to make an upfront payment to access certain features or assets. In those cases, you will need to purchase the required cryptocurrency using a crypto exchange and transfer it to your digital wallet.
Play and earn: After doing some research, selecting your desired game, and setting up your tools, it is time to start playing. To excel in your game, you need to understand the intricacies of your chosen game. This will boost your earning potential.
Best Blockchain Games
As the world of blockchain gaming keeps evolving, new games are being released. Below are three popular games to help get you started.
The Sandbox: The Sandbox is an open-world game that lets players buy virtual land plots as NFTs and express their creativity. The game allows players to build and create various experiences and also monetize their creations within The Sandbox’s metaverse.
Decentraland: Decentraland is an innovative virtual world project that enables players to own parcels of land as NFTs. Decentraland provides users with the liberty to personalize their virtual land, create interactive experiences, and participate in the virtual economy. This game offers an exclusive and immersive experience that is full of possibilities.
Axie Infinity: Axie Infinity is a PokémonGO-like monster-collecting and battling game. In this game, players can breed, raise, and battle their adorable digital creatures called Axies. Players earn the Smooth Love Potion (SLP) cryptocurrency as a reward for their hard work. The SLP token can be used within the game to purchase various items or be cashed out for real-world value. With its innovative gameplay and earning potential, Axie Infinity has captured the attention of gamers and investors alike.
While playing Axie Infinity, you might come across the term “Ronin.” So, what is Ronin? It is a customized sidechain wallet that is specifically built for Axie Infinity. This wallet allows players to manage the high transaction volume of the game without congesting the Ethereum network. Setting up a Ronin wallet is a crucial step for any Axie Infinity player who wants to participate in the game and start earning rewards.
Pros of Blockchain Gaming
Decentralization: Blockchain technology revolutionizes the gaming industry by removing centralized control from game developers. This can lead to a fairer and more community-driven experience, making it harder to compromise assets and data. With blockchain, players can enjoy greater autonomy, transparency, and control over their in-game assets and transactions.
In-game ownership and play-to-earn incentives: Blockchain gaming gives players control over their data and assets by allowing them to manage their assets as it suits them. Blockchain games offer players the chance to earn cryptocurrencies or NFTs, for their accomplishments and time spent in the game. This creates a stronger bond between players and the game, providing a new level of empowerment and motivation while playing.
Interoperability: Blockchain games can easily interact with each other. This allows players to transfer data and assets between games, expand the market for associated assets, and explore new gaming experiences.
Cons of Blockchain Gaming
Scalability issues: Scalability is one of the significant challenges some blockchain networks experience. When there is a high volume of transactions, slow transaction times and high fees become a pressing issue, impacting the overall user experience.
Volatility: It is important to understand that the value of cryptocurrencies and NFTs can fluctuate significantly, leading to financial risks for their investors. Before deciding to participate in these markets, it is advisable to conduct thorough research and thoughtfully evaluate the potential risks.
Regulatory uncertainty: The world of blockchain gaming and cryptocurrency is developing, and its rules and regulations keep changing constantly. This unpredictability can create potential risks for players and developers. Therefore, it is essential to stay informed and up-to-date on the latest developments in the industry to manage these risks effectively.
Congratulations!
Now you understand the concept of blockchain gaming, some of the popular games, and how to get started. By following the steps outlined in this guide and exploring the wide range of blockchain games available, you can delve into this exciting new frontier of gaming innovation. So, get ready to embark on the adventure of a lifetime with blockchain gaming!