How Profitable are Blockchain Games

How Profitable are Blockchain Games

Let us begin this article with how lucrative blockchain games are. Blockchain gaming as a business is assessed at a whopping value of $173 billion.    Now, add that to the strong signs that the value will surpass $300 billion in 2026!   A sharp rise in new players, especially on mobile devices, is responsible for this surge.    Blockchain games have made gaming a lot easier to access for the global population of gamers estimated at 2.6 billion.

In blockchain games, there is an interesting twist: the players (not the developers) are the primary decision-makers concerning finances.  Pay-to-earn games got revolutionized by Axie Infinity.  And today, they have become highly popular and lucrative too.

Blockchain Games Explained

Source: CoinQuora

Blockchain is a ledger tech.  It acts as a tamper-proof, un-hack-able, unalterable information logging and storage system.  It is the bedrock of cryptocurrencies, like Bitcoin and Ethereum.  Blockchain technology is pioneering a world of possibilities throughout virtual markets. For example, is the gaming industry.  

Traditional games are centralized.  That means experience and items (XP) that a player gains while playing are restricted to just that game and not useful in others.  However, crypto games, rewards, and items a player earns in a game belong to him and can be sold at various crypto gaming platforms.  

Players complete challenges, battle simulators, tasks, etc., to get in-game currency.  For example, Axie Infinity gamers get SLP as a reward for completing daily challenges.

Now instead of spending money and playing for fun, you get rewarded. Crypto games are characterized by

  • Real ownership: In blockchain-based games, players have actual ownership of their in-game goods.  Assets are in NFTs.
  • Interoperability: By tying in-game assets to blockchain tokens, gamers trade across various game markets hosted by blockchain.
  • No restrictions: No centralized server, so blockchain games cannot be shut down. Players continue games even with no developers any longer involved.  

How Blockchain Games Works

Source: Crptodefinance

Before crypto gaming, traditional game players invested in games only to improve their gaming experience, like faster ability to level up.  But now, the exact opposite is what crypto gaming does: the play-to-earn model allows profit-making from investments via crypto gaming coins. In Crypto games, the practice is that players own in-game items they buy.  Also, they can trade them or, if they want, even sell them.  

Earn From Blockchain Games

Now, let's take a look at some ways one can earn money from blockchain games.  

1. As An Investor: One of the ways you can earn from crypto games is to become an investor.  That way you can take part in funding rounds.  This is done by buying game tokens on exchange platforms, like Binance.  Some blockchain-based game companies have g game tokens.  They include Sky Mavis, Animoca, and Enjin.

2. A Dedicated Player: How about becoming a dedicated player?  This is even a more obvious way to get involved.  You simply need to devote enough time to play.  And you will earn crypto tokens as rewards.  Highly dedicated gamers stand a good chance to get monetary rewards for their endeavours.

3. Having Artistic Talent: Do you have any artistic talent?  If you do, then you can engage in designing and selling collectible objects.  As you can see, the opportunity is stupendous!  And to think that game developers are just getting started yet.

Getting Started With Blockchain Games

Are you pumped already and want to go into crypto games?  In that case, let us get you started.  We will start you off with the basics.  

First, get a PC or mobile device.  Next, you need to select a crypto exchange.  It is through a crypto exchange your fiat money can be changed into cryptocurrency for you.  And there are several crypto exchanges available, for example, Binance.   Also, you most likely need Ether-coins.  This is because the Ethereum blockchain is the fulcrum for most crypto gaming.  So, you have to get some Ether-coins and keep them in a safe wallet. Finally, choose a game to play.  Pretty straightforward, right?

Top Games To Earn From

Source: Marketwatch

In comparison to traditional gaming, blockchain gaming is still a budding niche market.  And crypto games may still be a small part of the overall market.  But they are hundreds of them now available.  And another great point about it is that it is gradually gaining players into the millions.  So, let us take a quick look at just four of the hottest crypto games:

Axie Infinity: This is undoubtedly the definite leader in the crypto games concept!  And it took Non-Fungible Token's NFTs to greater heights.  Axies can be bought, can be exchanged, and can be bred by players.  Players can also use Axies to compete with other players, even other teams in tournaments.

CryptoBlades: CryptoBlades is a new blockchain game.  Play-to-earn RPG competition games are getting more and more popular.  Through fighting foes and raiding with friends, users can gain SKILL tokens.  They can also earn SKILL tokens through staking gains in CryptoBlades.  There is a built-in marketplace that players can use to trade in-game goods for weapons or more fiendish characters to combat foes.

Farmers World: This is the play2earn version of the notion that is blockchain-based.  There are a variety of tools that players can use in raising and harvesting crops.  Additionally, players can attack other farmers as they await their harvest period.  There is a card membership system in the game, allowing players to buy more equipment, power, and other resources.

Gods Unchained: This is a card fighter title that is similar to Hearthstone.  It is one of the many games that are Magic-inspired.  In it, users construct decks and then they play cards to defeat opponents.  It is a blockchain-based game.  So it is possible for participants to entirely own the cards they earn!  And they can then sell or trade them whenever they please.

Conclusion

Having already revolutionized the ease of trading the FX market, blockchain tech is now revolutionizing crypto games. And in the current highpoint of the tech is it's worth estimated to cross the $300 billion mark soon. The bottom line is that crypto games are here to stay and you might as well start now to play to earn.