What Makes Crypto Gaming So Different From Traditional Gaming? To start, let’s talk about Blockchain technology. This technology is the basis for creating crypto games. Tokenized in-game assets, Play-to-earn model, and Additional layer of security are all part of the equation. But how does this impact the gaming experience? Here are some things to keep in mind:
Blockchain Technology
Despite the centralized nature of gaming, blockchain technology allows players to transfer digital collectibles between games. The technology also offers secure transactions and disintermediation, allowing players to enjoy a decentralized environment while Web 3 gaming playing their favorite games. For example, players can easily transfer the items they have earned in one game to another, and they can even exchange them for real-world value. These factors make crypto gaming incredibly unique among other types of games.
Games on the blockchain are a better investment for developers than traditional games. Since players invest time and money in these games, the development of new ones will be more profitable for game developers. Unlike IAP-based games, players take games seriously. With blockchain technology, players are more likely to take their games seriously. This is a huge advantage for both the game developer and the players. However, there are some drawbacks of crypto gaming.
Play-to-Earn Model
A play-to-earn model is a powerful tool for players looking to make money by creating value in the virtual world. Unlike traditional games where players can buy things and then sell them for profit, this type of gaming rewards its participants with a certain amount of coins. This concept is sweeping the world and billionaires are racing to adopt it. However, it is not only gamers who will benefit from this concept.
Axie Infinity is a popular play-to-earn game where players can breed and battle axies to gain smooth love potions. Decentraland is another popular play-to-earn game where players can buy and sell parcels of land on the game world. Parcel sales can go as high as MANA or even $100,000 at the peak of the game’s popularity.
Tokenized in-Game Assets
Tokenized in-game assets (NFTs) allow gamers to trade digital currency for in-game items. Tokens can be made from various kinds of assets. Fungible assets are interchangeable, while non-fungible tokens have unique ownership information. Tokenized assets are vital to the crypto gaming industry because they allow players to verify their digital ownership of in-game items. Moreover, NFTs also make the game world more secure and prevent the possibility of counterfeiting or illegal duplication.
Despite the challenges of a COVID-19 pandemic, the video games industry is booming. Sales have increased, despite the partial economic shutdown. The emergence of asset tokenization could give the gaming industry a generational leap. With the help of tokenized in-game assets, the gaming industry may become accessible to a new class of investors and open up its world to 2.5 billion players.
The Additional Layer of Security
Whether you are a casual player or a professional gamer, crypto gaming offers an additional level of security. Traditional gaming uses the developers’ own digital assets, which are the records in the game’s database. With crypto gaming, this data is distributed on a decentralized network, where all computers connected have the same information. As such, the security of your digital assets is enhanced. However, while crypto gaming has its advantages, it also has its disadvantages.
Unlike traditional games, which are centralized and cannot be used in another game, crypto gaming allows you to own your own pieces. This means that you can trade the assets you earn in one game for others. In addition, any purchases or rewards you make in one game can be transferred to other games. This means that crypto gaming also provides an additional layer of security, and makes it possible for gamers to participate in different games with a single cryptocurrency.
