The gaming industry is experiencing massive growth following its success during the pandemic lockdowns. From Animal Crossing to Call of Duty, people turned to games during the lockdown as a source of home entertainment. And it wasn’t just a fad. Research from Invest Game shows that the global video games industry had grown over 2021, too. In the first half of 2021, private investments tripled more than a year, and public offerings rose from $4.9bn in the first half of 2020 to $17.1bn in H1 2021.
What is crypto gaming?
Traditional games are centralized, meaning all items and experiences (XP) gained while playing cannot be used in other games. Crypto gaming has changed that by introducing blockchain technology. Players can now use their rewards and items across different crypto gaming platforms.
Crypto gaming also offers a way for players to earn money. This is called a play-to-earn model, and players can do this in various ways. This introduces a whole new element to the industry – the idea that gamers can earn crypto while gaming. Worldwide Asset Exchange found that this is welcomed, as three out of four gamers wished to use their currency on other platforms. But is it just gamers playing?
How does crypto gaming work?
Traditional games already have many elements of crypto alternatives. Players can use fiat currency to buy in-game money, and they can collect items and level up their characters. So, what attracts investors and players to crypto gaming?
Ownership is part of the reason that crypto gaming has taken off. Unlike traditional games, their crypto counterparts give players ownership over what they collect through blockchain technology. Players can own their in-game items, trade them or even sell them.
Earning money from gaming also attracts players. Certain games have been criticized before for having a pay-to-play model, in which players have to invest money to get the best out of a game. Before crypto gaming, investing money would only improve your experience, such as leveling up faster. Crypto gaming does the opposite: the play-to-earn model now allows people to profit from their investment through crypto gaming coins.
Let’s look at four blockchain games that could make waves in 2022.
Noted as the first blockchain game to execute its play-to-earn model, Axie Infinity has an established and highly developed ecosystem with a robust economic model. Axie Infinity is currently the trojan horse for broader blockchain game adoption.
Axie Infinity continues to solidify its place at the top of DappRadar NFT rankings, according to its data. However, Inite has no plans to give in to Axie! Our goal is to make the game as comfortable as possible for the user and strengthen our position in the market!
CryptoBeasts is a pixelated digital art game that elicits the retro feel of the original Zelda game. Built on the Ethereum blockchain, CryptoBeasts is a ‘peer-to-peer electronic rare egg system’ (first for everything, right?) These 10,000 pixelated colorful eggs grant each owner one land parcel in the game‘s “Eggland” universe and one decentralized autonomous organization (DAO) vote.
The DAO operates on a hierarchy, as the number of eggs a player owns determines their voting status. As strange as it sounds, each decision appears to be calculated in CryptoBeasts.
According to data from Dune Analytics, the highest-selling rare egg went for 5 Ether (ETH), valued at $9,085 at the time of sale. On December 31, 2021, an announcement about in-game tokenomics resulted in an uptick in sales. The current entry point at 0.05 ETH is notably higher than the 0.01 ETH mint price in June 2021.
Guild of Guardians
Guild of Guardians is one of the more anticipated blockchain games in 2022, and it is built on ImmutableX, the first layer-two solution built on Ethereum that focuses on NFTs. Aiming to provide more access, it will operate as a free-to-play mobile role-playing game, modeling the P2E mechanics.
Similar to blockchain games like Axie Infinity, Guild of Guardians in-game assets can be exchanged. The project seems to be of interest to many gamers and investors, with its NFT founder sale and token launch generating nearly $10 million in volume.
Launching its in-game token in October of 2021, the Guild of Guardians (GOG) tokens are ERC-20 tokens known as ‘gems’ inside the game. Gems are what power key features in the game, such as minting in-game NFTs interacting with the marketplace and earning while playing.
Undoubtedly, our game also deserves a place on this list! Inite is a true home for ideas and creativity. It is necessary to develop creativity in yourself because this skill helps you create and implement new ideas that do not fit into traditional schemes helps you reveal your personality! We are a quirky, stylish, and brand new Metaverse game that boosts user creativity with a play-to-earn mode.
How does it work? Players generate ten concepts daily, expand their horizons, create and meet like-minded people, team up, fight bosses, improve their well-being and earn tokens. The cool thing is that all ideas can be released as NFTs, which guarantees intellectual property ownership. Our advantage and the fact that distinguishes us from competitors is accessibility. Everyone can upgrade their ideological skills for free!
In addition, Inite players have the opportunity to trade the most inspiring ideas on the marketplace and become real idea geniuses! And you, friends, do not forget to help us in this and follow us on social networks:
NFT games are brand new video game that uses decentralized technology to provide a unique gaming experience. Players can play to earn items that they own with provable scarcity. NFTs play a significant part as their uniqueness and lack makes them digital collectibles. They can be used as in-game items such as swords, shields, playing cards, skins, and more. We have to follow the development of these games and enjoy their advantages.