You have probably heard about Blockchain Technology or even been curious about its use cases. The truth is, learning about Blockchain can be daunting especially if you do not have a tech background. Understanding how blockchain works requires that you actually get to use blockchain products. And often times you're either a software developer who builds blockchain products, or a sophisticated trader, who trades cryptocurrencies, to really get a hang of these products. But what if you're not a software developer or a crypto trader??
This article will introduce you to a familiar, yet different way of exploring blockchain, even if you do not have any tech experience.
Evolution of Gaming
Gaming has been known since history to bring together people of different cultures and ages to share ideas and imaginations. Over the years, with the invention of the internet, gaming has evolved into a digital and immersive experience, which can be played across different digital platforms (Computers, TVs, and Mobiles). People pay to enjoy these games and sometimes purchase in-game assets such as guns, lands, avatars, etc. to enhance their gaming experience.
Blockchain Gaming
Blockchain Gaming, otherwise known as web3 gaming or play-to-earn gaming, is a new evolution of digital games built on the blockchain. This system of gaming allows for the creation of unique digital gaming assets called NFTs, which are stored on the blockchain. These assets cannot be duplicated.
How Blockchain Gaming Works
Unlike in traditional gaming where players could buy gaming items, but had no license right over them, Blockchain games allow players to purchase these items, own them in their wallets, trade them for real money, or even lend them out to other players.
Blockchain gaming also incentivizes players through in-game tokens. Most blockchain games have their unique tokens which they reward players with. Players would have to complete in-game tasks or reach certain levels in the game to earn these rewards, which would later be traded on crypto exchanges for real money.
Benefits Of Blockchain Gaming
Play-to-earn gaming model
Blockchain games, unlike traditional games, use a play-to-earn gaming model which allows players to make meaningful income, by completing in-game tasks to earn tokens. For example, in Axie Infinity, Players complete tasks in Adventure mode to earn Moonshards - which can be used to enhance the player's gaming abilities. While in Arena mode (PvP), players can earn Axie infinity's in-game tokens called SLP (Smooth Love Potion), currently ranking #181 on CoinMarketCap
Opportunity For Investors
Blockchain games also allow players to invest in gaming items in order to make profits. Players can purchase, breed, stake, or trade in-game items, which are stored on the blockchain as NFTs.
Some players only purchase these items to lend them to other players (who may not be able to afford them), in exchange for some % of the player's earnings (usually a 40%:60% ratio, or as agreed by the team).
Easy Onboarding To Blockchain
Thanks to Blockchain gaming, players can have a first-hand experience of how blockchain really works without being tech savvy.
Most players get into blockchain gaming, having little or no knowledge of Blockchain Technology, only an excitement for gaming. But the guilds they join (usually through scholarships) would guide them through the process, abstracting the complex processes so players can only focus on mastering the games.
This method has given everyday people, an opportunity to explore blockchain gaming products, learning as they go, about Blockchain Technology.
Challenges of Blockchain Gaming
Difficult To Set Up
Unlike traditional gaming which can be easily set up after downloading, blockchain games have more requirements like setting up a wallet, purchasing gaming items from the marketplace, etc. These could be daunting for an absolute beginner.
Expensive To Get Started
Without gaming scholarships, most beginner players would have to purchase in-game items on their own. This usually leaves the player with second thoughts as the gaming items are usually very expensive to purchase. Gaming Items are traded according to their skills and values, and the most valuable ones can be traded for a very high amount. For Example, the most expensive axie on Axie Infinity marketplace was sold for 300 ETH, currently USD 466,878.00. and the lowest Axie, currently on the marketplace, is sold for 0.001ETH, currently $2.
Examples Of Blockchain Games
Axie Infinity
Axie Infinity is a blockchain creature-based battling game. It requires 3 fierce creatures, called Axies, to play at a time. Players can breed these creatures from their eggs, or purchase them on the marketplace.
Axie Infinity is built on Ronin Network, an Ethereum side-chain. Its official cryptocurrency is AXS, currently trading at $8.33 on CoinMarketCap.
Splinterlands
Splinterlands is a unique collectible trading card game, built on the Hive blockchain. Splinterlands is a multiplayer game, and its cards are traded as NFTs.
The official cryptocurrency of Splinterlands is SPS (Splintershards). Currently trading at $0.02494 on CoinMarketCap
Thetan Arena
Thetan Arena is a multiplayer eSports game developed on the Binance Smart Chain, by WolfFun Studio.
The official token for Thetan Arena is the THG, currently trading at $0.05898 on CoinMarketCap.
You can check out more blockchain games here.
Getting Started
You can get started with blockchain gaming in two ways:
Investing
This would require some level of experience. In this approach, a player would have to set up a wallet (dedicated to the game), and fund it with the necessary cryptocurrency. Then purchase the gaming items on the game marketplace.
This approach is usually taken by more Savvy Users who often take the role of investors in gaming communities.
Gaming Guilds
Guilds are gaming communities that help onboard new players into blockchain gaming, by providing them with assets necessary to play the games.
Guilds are the best option for less experienced players who might just be looking to explore blockchain gaming but do not know where to begin.
A typical Guild would consist of gamers, investors, and guild managers, each playing a vital role in the community.
Some top gaming guilds include:
Awujo, Metaguild Yield Gaming Guild, etc. You can also find gaming communities on Community Gaming.
Conclusion
Blockchain Technology is disrupting the gaming industry, providing economic incentives to players, and investment opportunities for traders.
With more gamers eagerly exploring play-to-earn games, blockchain gaming is greatly impacting the adoption of Blockchain Technology.