During the past couple of years, blockchain technology has slowly increased its presence in the gaming industry with games that utilize it. With some of the early examples like CryptoKitties that launched in 2017 the trend truly gained steam, with the exploration of the medium by major gaming studios. This has led to many adoptions within an industry that is very close to gaming and blockchain, which is gambling. The development of top new slots for beginners was only natural due to this close connection.Â
Even at the beginning of 2022, the market capitalization of blockchain and casino games was around $25 billion with no sign of slowing down anytime soon. The areas in the crypto market that have been the most stable and profitable include blockchain games and non-fungible tokens. Both are their own tightly intertwined economic phenomena.
A great example of this is the well-known game Axie Infinity, the token price of which was worth about %150 last fall, providing a capitalization exceeding $9 billion. During the same period, the daily audience of the game was quickly approaching 2 million overall players.
What the downfall of Bitcoin meant for Blockchain Games?
During the fall of Bitcoin’s worth in December 2021, the Axie Infinity Shard token also began to sink, but the audience grew to 3 million concurrent players. With the transaction activity increasing by four times, such dynamics have real-world consequences.Â
First off, the bulk of blockchain games are browser-based games created with HTML5 and WebGL technologies, which have significantly expanded the possibilities for browser game production. While allowing NFT withdrawals to external marketplaces and the connecting of crypto wallets without any regulatory limits, these games refreshed browsers.
Furthermore, since the traditional PC gaming industry still sees the blockchain as an irrational or even “toxic” environment, there is no direct rivalry for blockchain games. This provides small studios with a big development head start since they are now unable to produce huge gaming franchises. The speedy launch of the in-game economy allows developers to fund the expansion of their game worlds without taking on debt or increasing working capital.
Finally, games built on blockchain technology are largely about money because players have the possibility to earn money in these games simply by participating. By participating in activities and investing time in the game, users earn tokens that they can later invest in or trade for real money.
What is the best genre to choose for a Blockchain Game?
Blockchain games are accessible to all players, much like old-school PC games. They share characteristics such as operating from a browser or a mobile app, having straightforward controls, and an intuitive user interface that even a novice can use.Â
Blockchain games also relate to different game genres with one common feature, that they are developed by using smart contracts. This provides an opportunity to receive valuable virtual assets, making it so that all games no matter the visuals or premise are always pay-to-earn games. There have been many games that have adopted this including action, strategy, online multiplayer, arena, and sandbox games.
With massively multiplayer online role-playing games usually have this dynamic reward system where players get tokens by completing in-game tasks. These tokens are used to upgrade the characters and their gear to get the upper hand. Among all MMORPGs, the most popular blockchain games in this genre are CryptoBlades, My Crypto Heroes, and, of course, Axie Infinity. As the medium grows in popularity and expands we can only hope to see better and better games that give players the best experience. Who knows we may even see adaptations of some of the most popular games outside of the blockchain.
