The crypto wave has already taken over many industries worldwide, and online gaming is no exception. Over the years, the gaming industry has gone through quite a number of transformations and developments. We’ve gone from the days of arcade games and 8-bit consoles to today’s virtual reality, immersive 3D worlds, and highly sophisticated multimedia games. And now, with crypto gaming, the gaming industry is witnessing an even more exciting shift.
But what exactly is crypto gaming? In this article, we’ll break down everything you need to know about the concept, looking at what it is, how it works, and what it means for the gaming industry. We’ll also highlight some of the hottest crypto games and share tips on how to start playing. Let’s dive right in!
What is Crypto Gaming?
In simple terms, crypto gaming integrates cryptocurrency and blockchain technology into gaming. This allows gamers to earn, trade, and use digital assets within games. In-game items and rewards are assigned real-world value, which means players can own, sell, and trade them beyond the game. This differs from traditional games, where in-game items are not owned and have no tangible value outside the game.
Crypto gaming also differs significantly from crypto casino gaming, which primarily focuses on using crypto tokens as a payment method for deposits and withdrawals when playing games. You can read more here about the best casinos that accept cryptocurrency. However, unlike crypto gaming, these games do not integrate blockchain technology directly into the gameplay.
How Does Crypto Gaming Work?
Cryptocurrencies are digital or virtual currencies that use cryptography for security. Unlike traditional currencies issued by governments (fiat currency), cryptocurrencies operate on decentralized networks, primarily based on blockchain technology. Popular examples include Bitcoin (BTC), Ethereum (ETH), and various game-specific tokens.
As mentioned earlier, crypto gaming simply integrates cryptocurrency with gaming. This is done in three major ways:
- In-game payments: Players can use cryptocurrencies to purchase in-game items, such as skins, weapons, or power-ups.
- Earnings and rewards: Many crypto games reward players with cryptocurrencies for completing tasks, achieving milestones, or winning battles. These tokens can often be traded on external cryptocurrency exchanges.
- Trading and marketplaces: Players can also trade their in-game items on decentralized or third-party marketplaces.
Besides crypto tokens, players can also get in-game assets in the form of NFTs, which are specific types of digital asset that represents ownership or proof of authenticity of a unique item. In other words, the NFTs are used to represent unique, valuable in-game assets such as characters, skins, weapons, land, or artwork. Players can buy, sell, or trade NFTs within the game or on external marketplaces, such as OpenSea or Rarible.
As mentioned, crypto gaming operates on blockchain technology, which is the foundation for verifying ownership and securing in-game assets. Every transaction is recorded on the blockchain, which makes it publicly verifiable and tamper-proof, ensuring fairness and preventing fraud. Since blockchain networks are decentralized, there is also no central authority (such as a game developer or server owner) that can alter or take away players’ assets.
Thanks to blockchain technology, in-game assets can also be used across different games in some cases. In other words, a unique NFT or token from one game may be used or traded in another game, which further expands the utility and value of the in-game assets.
In summary, a crypto game will have the following features:
- Players can play to earn.
- Players have full ownership of in-game items.
- Earned tokens, NFTs, or other in-game assets can be traded or sold on external marketplaces for real financial value.
- Most games are run on a decentralized system.
- Transparency and security.
Popular Examples of Crypto Games
Let’s explore some of the most popular and influential crypto games that have captivated players worldwide.
Axie Infinity
Axie Infinity was one of the first games monetized through cryptocurrency. Players play to earn in-game currency (Axies), NFTs, and the game-specific token Axie Infinity Shards (AXS). The game is themed around Pokemon-like characters known as Axies.
Players aim to collect these Axies and build kingdoms with them. To play, users must have a Ronin wallet with some Ethereum that can be used to buy the in-game currency Axie. They must also create an Axie Infinity account, which must be connected to their digital crypto wallets.
Hunters On-Chain
Hunters On-Chain is a battle royale multiplayer game where players compete to be the best Hunter. Each character in the game is designed as an NFT. Players collect these different characters to compete with other players and cash them out by selling them.
The Sandbox
Sandbox is another popular crypto game that you might want to check out. It’s a metaverse game that allows players to own, create, and monetize virtual land and assets. It’s also Ethereum-based.
Gods Unchained
This is a blockchain-based card game where players collect, trade, and battle with cards. Each card is also designed as an NFT, which means players fully own them. Players can buy, sell, or trade these cards on the in-game marketplace or external NFT platforms.
How to Get Started with Crypto Gaming
Below is a quick step-by-step procedure you can follow to start playing crypto games:
Choose a game
Begin by researching different crypto games to find one that suits your interests. You can consider it play-to-earn games like Axie Infinity, where you earn rewards while playing. You can also opt for metaverse games like Sandbox, where you build virtual words or strategy card-based games like Gods Unchained.
Set up a wallet
You need a crypto wallet for your crypto assets. MetaMask and Trust Wallet are very reliable ones. Ensure your wallet supports the blockchain on which the game operates.
Purchase assets or tokens
Most crypto games require you to own in-game assets or tokens before you can play. So, you have to buy the required cryptocurrency, which you can use to purchase in-game tokens or NFTs directly from the game’s marketplace or other supported platforms. However, some games offer free-to-play options where you can earn rewards without making an upfront investment.
Start playing
Make sure you have a good understanding of how the game works before you start paying. Take advantage of the game tutorials.
Conclusion
Crypto gaming is indeed a groundbreaking innovation in the gaming industry. By allowing gamers to own, trade, and earn real-world value from in-game assets, crypto gaming is creating new opportunities for both casual players and professional gamers and further elevating gaming from just a pastime activity.