Blockchain games are the newest craze in the crypto market, and for a good reason. Instead of just spending hours playing games on your computer and having no productive end goals, these new blockchain games will allow you to earn digital money while playing.
To know more about blockchain games, you must first know the basics of blockchain and cryptocurrency.
Most common blockchain games are connected to smart-contract, blockchain platforms like Ethereum, while others exist within their own blockchain.
If you are new in the crypto market and you want to increase your digital assets, a good way to do this is by playing blockchain games.
Here is your ultimate guide to blockchain games, from learning how to play, the best games in the market, and everything else you need to know to avoid possible financial losses.
There are generally two types of blockchain games; P2E and P2O. Here is everything you need to know about these types of blockchain games and the main difference between the two.
Play to Earn
Play to Earn (P2E) is the core concept of most blockchain games. It is what created mass appeal in the first place. This model is what enticed people to start playing these games. Many non-gamers even played just to earn a living. This is how big the impact of P2E games was in the middle of the pandemic.
The basics of this model are simply to win or to do certain actions successfully, and you will be able to mint a fungible currency that can be sold for real-world money. These come with downsides, however. Usually, these minted currencies become inflationary, and if there isn’t any way to burn or use these currencies, they become worthless quite quickly.
This results in a rapid decline in the player base, similar to what happened to Axie Infinity where much of the player base was filled with players who were solely interested in making a living.
The fungible currency, SLP, quickly declined from its peak as the only way to burn SLP was to breed, and breeding was not really of interest to most players as they were mostly scholars.
Play to Own
Play to Own (P2O) is a newer concept brought in to combat the negative effects of P2E. This aims to give players more ways to spend their earned currency than just exchanging it for real-world money. P2E will still be the main core of most games, but in addition, they may also spend their currency on upgrading, leveling up, and improving their gaming experience.
With this model, the economy will need less artificial intervention and shilling to newer players just to increase demand once again. Similar to real-world money, being able to spend your in-game currency will give it real use within the game itself rather than just a money-making scheme.
If you want to start playing blockchain games but can’t decide which ones to try, all you need to do is quick research the most popular games in the market to decide which game will suit you best. This will ensure that enough players are playing in the game, allowing you to engage with other players and possibly earn more.
Before you start transferring your funds from your digital wallet, you need to find out what platforms those games operate in. For example, Axie Infinity uses Ronin, SkyMavis’ (the developers of Axie Infinity) own sidechain that runs on Ethereum.
Blockchain games will have similar sidechains or parachains that you will need to do your own research on. You must be careful when topping up your wallet, however, as there are sidechains without proper UI and safety mechanisms that you may lose all your currency if you make a mistake. Be sure to follow the instructions carefully.
Popular blockchain games today like Axie Infinity, Cryptoblades, Upland, and Mobox will have their own guides and instructions on their website to help you get started. You may also find a few games on already popular platforms like Steam, though you will need to go to an external site to do any crypto-related activities as Steam prohibits them within their platform.