The gaming industry is one of the many sectors where cryptocurrency has found a great product-market fit. With the majority of crypto investors belonging to the demographics of the average gamer, the opportunities for decentralized virtual worlds are endless, and so is the demand for gaming-based income sources.
Until now, there was one problem that held video games from becoming more than just entertainment systems. That is, the ability to create scarcity.
Instead of spending all your time learning about and choosing to buy bitcoin, you might want to start exploring all the available games that can literally pay you in crypto. By doing so, you will enjoy your free time and get paid for it.
How crypto is used in games
Let’s start by making a distinction between earning crypto and using crypto in-game:
● Earning crypto: By performing certain in-game activities, the game you choose to play rewards you with cryptocurrency. This can be anything from performing a task, renting virtual space, or buying and selling in-game items. We will talk about each option in a brief analysis of our top games below.
● Using crypto: You can use crypto to improve your earning abilities within the game or elevate your status among your peers. The latest is expected to become a lot more popular as we are slowly moving into a fully digital economy. Status, in this case, can come by buying expensive NFTs in the form of virtual land, real estate, or limited-edition items.
How is crypto revolutionizing games?
Until now, there was one problem that held video games from becoming more than just entertainment systems. That is, the ability to create scarcity. You see, any game has items that are valuable, and oftentimes you can sell these to other players. However, the items are stuck within the game, and the developers can easily manipulate their supply, ownership, etc. With blockchain technology, we are finally able to separate the creators of the game from the gamers, empowering them to pursue in-game items for their scarcity. These items can be sold to others, taken off the game and stored safely, and are fully unique; no copies can ever be made.
With blockchain technology, we are finally able to separate the creators of the game from the gamers, empowering them to pursue in-game items for their scarcity.
As such, this opens the way to the much-awaited concept of the Metaverse, which will enable many third world countries to earn money by “working” within digital economies. Whether the goal is to acquire a fancy sword, digital real estate, or rentable “land”, here are some of the top games we believe you should explore.
CryptoKitties
Back in the early days of Ethereum, the concept of NFTs was non-existent. Sure, there was the theory of their application, but the ETH price was more important to investors than the growth of the ecosystem.
This was until 2017 when CryptoKitties was first created. The game is simple: you “mint” and breed animated cat characters within the CryptoKitties platform, which you can then sell to others for profit. Each kitty is unique and thus a “limited edition”, making some of the older ones go for as much as $300.000 in ETH.
While we don’t see much of the Ethereum cats in this cycle, the game was certainly the first attempt to create usable NFTs, the breeding of which requires the use of cryptocurrency.
Axie Infinity
Axies can be seen as the “evolution” of the Cryptokitties game and has many more functionalities. Axies, much like Pokemon, can fight with each other, as well as being exchanged and bred. The game is currently in its early stages but has become massively popular. This is primarily due to the financial benefits of “growing” your own Axie, which you can then sell to others, as well as the promotion made by key investors, like research firm Delphi Digital and others.
The native token of the platform AXS, has experienced massive growth in popularity this year and is currently found on large exchanges like Binance, Huobi, and FTX.
Cryptovoxels
Do you want to see what the future holds? Then make sure to check out Cryptovoxels, as it is free to play and gives you a good idea of the decentralization of the Metaverse. The platform offers a virtual world where users can buy, build and sell digital real estate, some of which is sold for enormous prices.
Many celebrities, influencers, and tech founders regularly use the space to meet with their fans and friends, which many NFT artists buy out whole digital buildings to showcase their art.
Alien Worlds
Finally, let’s briefly talk about a new game, the token of which had its IEO on Binance. Alien World is an intergalactic space game that enables users to “mine” planets in order to earn resources known as Trillium. Trillium is actually the native currency of the game, and users can exchange it for other cryptos or use it to improve their spaceships and mining equipment in order to earn more. A great idea, still in Beta, we expect many good things from this on.
