To rent a virtual castle in a favorite game sounds like a great way to earn money if there is no real property and is not expected. In fact, this will soon become possible in blockchain games. Their market is still small, but such startups like Enjin Coin, dMarket, Xaya and Expload are already popular for their best blockchain games.
What are the blockchain games?
“What are blockchain games?” — that is the question, which is asked by all players, including those guys, who enjoy eSports, PS games and online gambling. On the technical side, this is the creation of blockchain-based video games. Such games take part in their game logic into smart contracts and use cryptocurrencies as one of the in-game tools.
What does Blockchain games technology give? It allows people to build economic concepts in games from real life, to create an open economy in them, built on monetary units with real value, and not just virtual.
Why is blockchain necessary in gaming?
Cryptocurrency is like Bitcoin, Ethereum or other cryptos are an analog of real money; they have a market price, that is, they have value in real life. This opens up incredible opportunities for players. One of the most obvious and understandable profits, for example, is selling in-game items for real money. To more complex and extraordinary ones — renting out the in-game property, create a business in the game, investing in different game clans and teams.
Imagine: a player built an incredibly cool castle in his favorite game, put a lot of time and effort into it. But here’s a shame — a new shooter has come out that he wildly liked, and now, the guy wants to buy some weapon for it. In this case, he can rent his castle to other players, and with the money received, he can already buy weapons in the shooter that he wanted so much.
Another, more interesting example: a player is ready to explore the worlds day and night, go through quests and hunt for rare artifacts. With an open in-game economy, he can monetize his time — sell part of the artifacts found in the game and have a steady income from this. Then he finds like-minded people, creates a trading guild, starts hiring other players to find the most significant resources, etc.
Features playing blockchain games
The main advantage of blockchain in video games is the ability to monetize playing time, in a variety of ways. Hardcore fans can get a steady profit from selling the most valuable assets in the game; the most enterprising players can create their own business and services for other players.
It’s very cool to give people the opportunity to receive money for what they love to do. Another aspect – such games can become a huge field for socio-economic experiments because they allow people to simulate any economic system, recreate any conditions of interest.
How does the blockchain gaming market work?
In fact, the market has not yet been formed. The media called CryptoKitties and similar projects blockchain games, but in essence, it was gamification of trading, a simulator of trading valuable assets. There, not a gameplay is primary, it is generally absent there.
Such games are built on speculation with digital property, while blockchain gaming implies improving the gaming experience with the help of blockchain technologies — here the game itself is primary, and not speculation in property in it.
Now, there are only a few startups in this niche:
- dMarket blockchain games;
- Enjin Coin;
- Xaya.
The development of the games based on blockchain technology is inevitable. The very essence of the blockchain ensures decentralization and security. In the next few years, such games are waiting for an explosion of popularity and it will absorb even conservative developers.