Online gaming has become quite popular in recent years, skyrocketing around 2020/2021, and has been a top pastime since then. Crypto games are a relatively new genre of gaming that connects cryptocurrencies and blockchain technology into the gameplay experience. In this article, we’ll take a close look at the technology behind crypto games, how best to understand it, and how to use it in gameplay.
The Technology Behind Crypto Games
There would be no crypto gaming without blockchain technology. It’s the cheat code that allows crypto gamers to connect their gaming assets to the real world, allowing them to make real money from in-game achievements. This is many millennia ahead of traditional games which only let players invest real fiat money into gameplay.
With the increased popularity of online gaming, many problems have come up, threatening the safety of gamers and putting gaming companies at risk. Online games are exposed to different kinds of security threats, including ownership threats and issues of trust. Many online gaming systems come across cyber-attacks like breaches, hacks, and frauds. Players also worry about their in-game assets remaining in-game and players only being allowed to engage with them in specific ways.
Blockchain technology has surfaced as a resolution to all of these issues. It offers a safe, decentralized setting for dealings and data storage. It is an online listing that documents and affirms transactions in a peer-to-peer network without necessity for third parties or central managing bodies like banks. Moreover, blockchain guarantees that dealings and data can’t be changed or erased after being confirmed. It underpins intelligent contracts which are self-enacting arrangements that can authorize game standards independently.
Blockchain technology is used to support crypto games, including crypto casino games and crypto play-to-earn games. Let’s explore both types of crypto game genres now.
Types of Crypto Games
Crypto Casinos
Crypto casinos have become popular in recent years as they allow bettors to use a variety of digital coins to buy in, wager, with withdraw earnings. In addition, betting online with crypto offers a number of perks, including more secure transactions, lower transfer fees, and a higher level of anonymity.
Bettors should research Bitcoin casinos reviews and select a platform that is licensed, registered, and offers “provably fair” gaming to ensure the best possible experience while betting online. Provably fair means that betting sites allow players to verify transactions and wins, ensuring a fair environment for everyone.
Play-to-Earn Games
Play-to-earn games are a type of crypto game. Players are earning real-world value by playing virtually. This is very different from traditional online gaming which requires players to pay to play. Crypto games are player-centric, focusing on keeping players happy and earning, a big incentive that keeps players coming back for more. Players attain real-life ownership and control over their in-game assets, often represented as non-fungible tokens (NFTs). NFTs are also fairly new and unique, coming into popularity in 2017. They are digital tokens that can be verified and transferred on a blockchain. They create value for virtual items, including in-game characters, weapons, or land. By battling other players, completing in-game tasks, or advancing in the game, players earn different tokens which create the crypto gaming ecosystem. Putting in time and effort translates to tangible rewards.
It’s important to understand cryptocurrency and blockchain technology before getting involved in crypto gaming. Learn which crypto you should buy as this will factor in once you start playing. Next, you’ll have to select a good play-to-earn game that you enjoy and can play well.
Axie Infinity is an exemplary play-to-earn crypto game that has gained substantial popularity. In Axie Infinity, players battle, collect, and breed fantasy animals named Axies. These Axies are NFTs (Non-Fungible Tokens) stored on the Ethereum blockchain, providing players with true ownership.
Players can earn cryptocurrency, specifically the native token called AXS, by participating in various activities within the game. This includes winning battles, completing quests, and engaging in the broader Axie Infinity ecosystem. The earned AXS tokens can be traded on cryptocurrency exchanges or used within the Axie Infinity platform, creating a dynamic and rewarding gaming experience that intertwines with the broader blockchain economy.
Advantages of Crypto Games
There are reasons why players are flocking toward the crypto gaming scene. One of the biggest is that these games offer players a new way of monetizing their gaming skills and achievements, allowing them to earn cryptocurrencies or NFTs that can be traded or sold for real money or other digital assets. They also give players a sense of ownership since this money can be used in the real world. In addition, crypto games sense of control for players over their in-game assets, which can increase their engagement and loyalty to the game. It helps if one can customize and personalize their assets, or use them across different games and platforms.
Likewise, crypto casino games have made it easier for those around the world who are prohibited by laws in their country from gambling to take part in gambling without the limitations of banking restrictions. Crypto games also foster a more transparent gaming environment, by eliminating the risks of manipulation, in any form, by third parties. Players can verify the history and transparency of their transactions, ensuring provably fair gaming on any betting platform.
Challenges in the Crypto Gaming World
Crypto games require players to have a basic understanding of cryptocurrencies and blockchain technology, as well as the tools and platforms needed to access and use them. Players may also face technical issues, such as network congestion, high fees, or compatibility problems.
Moreover, players may face legal and regulatory uncertainties, as different jurisdictions may have different rules and standards for the taxation, licensing, and governance of crypto games and their assets. Players may also encounter ethical and social dilemmas, such as the environmental impact of blockchain.
Crypto gaming companies are also at risk of facing competition and innovation barriers, as the crypto gaming industry is still evolving. Crypto games may have to overcome the limitations of scalability, usability, and interoperability, as well as the challenges of creating compelling and original gameplay and content.
Crypto games are a promising and exciting development in the gaming industry, as they leverage the potential of cryptocurrencies and blockchain technology to create new forms of value, ownership, and interaction for players. Crypto games may also have a wider impact on the future of digital entertainment, as they may pave the way for more immersive and collaborative experiences, such as the metaverse. However, crypto games also pose significant challenges and risks that require the attention and collaboration of various stakeholders, such as developers, platforms, regulators, and users. Therefore, it is essential to adopt a proactive and holistic approach to crypto gaming, that balances the interests and rights of all parties involved.