Blockchain is transforming traditional gaming, in multiple ways. CoinTelegraph reported recently on the matter. For a deeper dive, see the article.
Let’s revisit here why industry is about to explode and here is why:
- Gaming is growing fast. A recent Statista survey revealed that 3.24 Billion gamers are worldwide. This number is expected to rise with the increase in mobile network users throughout Latin America and Asia during the next decade.
- The blockchain makes it possible to create gaming ecosystems organically..The Play-To-Earn business model can make the economy go viral. This process can be made more simple by blockchains. The best part about blockchains is their ability to transcend borders. Canada and Turkey do not have any barriers for players to access their markets.
- All are welcome to use public blockchains, with no restrictions.. All users who have an internet connection, and a cellphone are welcome to take part. All users are welcome to participate in the onboarding process.
- Costs of technology that are not openly compatible fall and become more expensive..The public blockchains can be used as open protocols. Binance Smart Chain is open-source protocol. Anybody can make games with Bsc.
- Opportunities and economic difficulties could make Play-To-Earn an actual job. Millions are seeking side work to boost their income due to rising inflation in the US and around the globe. In the US, 4.4 million people have quit their job. An increase in gaming and entertainment means that play-to-earn could be a viable economic model to attract millions to the new Metaverse economy. Imagine gaming as a career or side business, instead of just for fun. Participation in this economy would be as natural as possible.
The most direct path to creating a Play-To Earn economy is via blockchain technology. It’s inclusive, global and viral. We will be looking at some games as we examine the current boom in Blockchain Gaming.
Alien Worlds is a Wax-based game. The game features players competing for a limited resource called TLM. Players can use this to increase their power by voting and staking in a DAO. Alien Worlds was able to attract more players than Axie Infinity in just 30 days. TLM, a cryptocurrency which has seen its value double in the last month (from $0.19 to $0.38), is another example.
CryptoMines, a SciFi-based play-to-earn NFT gaming game, is also a hot new game. Players compete to earn Workers and Spaceships in order to explore the universe looking for $ETERNAL. Over the last 30 days, it has had 229,000 people visit its platform.
CoinFantasy has a strong position in this rapidly expanding gaming industry. CoinFantasy is a leader in fantasy gaming with the gamified crypto markets for gamified fantasy.
CoinFantasy’s Play-To-Earn model allows anyone to participate. There are only three steps required for users to sign up:
- You invite them to join the contest.
- A selection of cryptocurrency assets is made by the team. They believe that these crypto assets will rise in value.
- Winners earn real money as well as level up in the platform that allows them to mint NFTs & get exclusive access to Metaverse
With varying rarities, there are more than 100 NFT-specific player card attributes. These NFTs will allow users to participate in crypto fantasy club events and also entitled to collectibles & in-game merchandisers
GameFi’s Play-To-Earn and metaverse models will keep growing and show the potential for GameFi to change the face of the internet. Could it be a new economy for the world? Could it be a chance for ordinary people to make a difference in their lives?
This economy’s next two- to three year period will be fascinating and informative, to put it mildly.