You may have heard a lot about blockchain-based apps and websites that exchange information for business or personal purposes. You may also have heard about cryptocurrencies like Bitcoin and Ether that came out from blockchains. But, you may not have heard about online gaming that runs on a blockchain network.
Yes, the gaming industry has also started utilizing blockchain technology. The blockchain concept is going to shake up the current state of the online gaming industry. Games that will use the public blockchain will accumulate significant potential for a multi-dimensional economy. The pioneering blockchain games like CryptoPop, Merge Cats, CryptoKitties, etc., are already attracting millions of dollars of crowdfunding.
The Basics of Blockchain Games
You may classify a game as a blockchain game if a public blockchain network powers the game functionalities. In such games, in-game currencies are always crypto coins or NFT tokens. Game players use Bitcoin or Ether or any other compatible crypto coin as an exchange medium of assets within the game app.
A game developer may, from time to time, mint NFT tokens to give away ownership of special assets to a few of the collectors. Developers can also utilize NFTs to build a trading economy outside the game app. In most cases, these economies thrive in OpenSea or Rarible.
These games usually allow the player to trade their assets in crypto or NFT marketplaces mentioned above. So, players get control of their hard-earned rewards, not the developers of the game app.
Other significant technical details about blockchain games are:
- These games are compatible with instant integrations into metaverse infrastructures like augmented reality and virtual reality.
- Blockchain stores information of the game developer, players, stakeholders, etc.
- When any game player goes to OpenSea to trade their game assets, then can establish irrefutable authority through blockchain.
- Developers can also utilize smart contracts to build trust among investors and gamers.
- Decentralized ledger is a great tool to stop gameplay hackers and frauds. The blockchain records all of the transactions and movements within the game to create a powerful anti-cheat method.
- NFT minting will become a crucial aspect of any blockchain game. Both developers and players will want to create unique collectibles and trade them on crypto marketplaces.
The Benefits of Blockchain Games
Accountability and trust in the process or system is the hallmark of any blockchain-based project. Worldwide many enterprises incorporated blockchain technology in their business models. So, the gaming industry is also hopeful to reap the benefits of blockchain technology. You’ll find the notable advantages here:
1. Fundraising
Game developers will enjoy a great degree of benefit if they build their games on the blockchain. They can easily attract thousands of public and institutional investors through ICOs. Gameplayers and investors will also profit from investing in such ICOs.
Any game may create its own crypto coin, that’s needed to transact within the game. It is also possible to list the coin on crypto marketplaces. Crypto coins will have a significant value if the game is successful post-launch.
Institutional investors can participate in STOs to own a certain stake in the game app project. When the game becomes successful after launch, they’ll have a chance to witness a multifold appreciation of their investments.
2. Token Economics
All of the video games that we’ve seen so far do not have any real-life value. When you turn off the game, everything is gone. But, blockchain promises to change this pattern. Through the use of cryptocurrencies in the game app, developers will add real-life values to video games.
It will encourage more players to join the game. Furthermore, in-game content will become available for trade on crypto marketplaces. Let’s say that you’re looking for a certain in-game asset for a long and unable to source it. You can easily go to OpenSea to purchase the asset using crypto coins earned within the game.
3. Fairness in the Game
Game developers can now prove to the investors and prospective game players that their app is not cheating the players. Blockchain networks can fetch data that will become irrefutable proof of game app fairness.
Since hacking the blockchain network is virtually impossible, developers will not need to invest in costly firewalls and cyber security experts.
4. True Ownership
The developers of the blockchain game Spells of Genesis coined this term. Later on, the developers of other blockchain games like Force of Will, Augmentors, Beyond the Void, etc., implemented this idea.
The idea is to give players more authority over their in-game assets, like armor, weapons, and display items like colors, skins, vinyl, etc. A public blockchain will track the ownership data of these items. This way, neither developers nor hackers can take away your hard-earned rewards.
Since you can prove ownership through blockchain, you may also trade these items on crypto marketplaces to earn crypto coins. Gameplayers will find a new meaning in gameplay.
5. Decentralized Operation
Many game developers have been researching and experimenting on setting up a server-free game ecosystem. Blockchain technology is the answer to that leap. The entire game program can be a decentralized entity on the web. The developers do not have to invest in servers.
Through the decentralized operation, games will become faster and downtime-free. Moreover, players will always have a say in the game when developers go on taking decisions that are not in favor of the gameplayers’ communities.
6. Human Mining
Blockchain games reward playing the game. Newly minted coins or coins generated through fees can find their way into the in-game economy to increase coin availability. Players will feel added motivation to achieve certain targets to earn more rewards as crypto coins.
Blockchain games will provide a new meaning to gameplay through human mining. Players will feel the urge to become more skill full or creative as they have a lot to gain by creating collectibles and selling them on NFT marketplaces.
7. Data Security
Online game apps have become the safe heaven of data theft and phishing attacks. Through click baits, you are giving away your personal information to the data brokers. Sometimes, less tech-savvy users become the victims of fraud.
Blockchain technology in-game apps can ensure only consent-based sharing of personal data. Phishing attacks and clickbait will no longer thrive in the gaming industry when developers transition to blockchain networks.
Real-Life Examples of Blockchain Games and Platforms
There are many successful blockchain games and gaming platforms. Here are some of the top trending ones:
1. Loot Project: An NFT Gaming Platform Owned by Gameplayers
The project consists of 8,000 NFTs, and the list is growing. These NFTs are essentially a text file with 8 words or phrases. The words are mostly similar to the in-game items of the Dungeon and Dragon game.
Investors and game players favor the platform, not because of the NFTs, but what they could be worth in the future. It is an open-source system so anyone can build something by using Loot NFT as a benchmark.
The Loot project and its NFTs also stand the chance to serve as a metaverse gaming ecosystem. It is the perfect example of how community-managed projects without any actual game can become a valuable entity.
2. CryptoKitties
CryptoKitties is one of the most successful blockchain games on the Ethereum blockchain. In 2017, it caused the Ethereum blockchain to go into a state of congestion as the game and kitties in it went viral. In a single day, 14K users traded kitties worth 5K ETH.
Dapper Labs, a Canadian game development company, built the game app on the Ethereum blockchain. The game enables its users to collect, breed, purchase, and sell virtual cats.
3. CryptoPop
It is a trending blockchain game that is essentially similar to the viral Android game Candy Crush. However, the CryptoPop game has symbols like Ethereum, Bitcoin, Monero, Ripple, etc. All the in-game balloons have any of these symbols. The player needs to consolidate those balloons with earning points to mint crypto coins.
4. Merge Cats
It is a good game to earn a lot of crypto coins that go by the name of Soul. Another cool feature of the game app is that you can score points even if you’re not playing the game at the moment.
The gameplay is pretty simple. You need to merge cats. This merging gives you access to the next levels. You need to sort the cats in order. As you move up the ladder of levels, you keep earning points.
5. 0X Universe
In this space-based blockchain game, the player builds spacecraft. Then they set sail for space to explore new planets and stars. Furthermore, players have other tasks like extracting exploring new places, resources, etc.
The game showcases high-end graphics like trending first-person shooter or RPG games. You can make a spaceship by buying different components. Alternatively, you can also unlock the spacecraft components by playing the game.
The Future of Online Gaming
The online gaming industry is evolving just like the online content consumption ecosystem, which is going the metaverse way. Blockchain technology is the best option to face the challenge of the growing demand for online games with zero lag and the fastest monetary transactions.
Blockchain games are beneficial for game developers, institutional investors, public investors, or game players, as the demand for the digital economy and cryptocurrency is growing exponentially.
