Is blockchain gaming a viable way to make money?
If you’re into cryptocurrency, then you’ve probably heard of blockchain games. But what are they, and why should you be interested in them? This post will explain what blockchain games are and show you how they can be a fun and profitable way to invest in the crypto world. So keep reading to learn more!
What are blockchain games, and how do they work?
Blockchain games are precisely what they sound like: video/computer games that run on top of a blockchain. Since the game runs off the blockchain, it lives in an immutable public ledger (which means all transactions are publicly viewable within its records) and is controlled by no central authority.
This makes it more transparent than traditional games and minimizes the opportunity for any malicious attacks or hacking to occur.
How does blockchain work in games?
Blockchain games work by linking game assets to blockchain addresses. This means that any player can own and use these assets and permanently store them on the blockchain.
However, until recently, most people didn’t think linking non-fungible assets to a blockchain was feasible due to scaling limitations. But thanks to new technologies, players can now bind these digital assets to a blockchain.
To use the asset in the game, a player must perform a transaction that isn’t processed by a central authority (such as a server). Instead, all transactions in blockchain games are controlled by code. This ensures that all players have trustless ownership of their items and that no one can alter them.
How are blockchain games different from traditional ones?
Blockchain games can be categorized similarly to traditional video/computer games: arcade, casual, puzzle, etcetera. In addition, they use many of the same genres and mechanics that we’re familiar with from existing online games such as “Minecraft” and “Hearthstone.”
However, blockchain games also have some unique characteristics. There is no risk of a central authority suddenly turning off servers or shutting down a game, as long as players are using it. This makes them more reliable than traditional games.
And most importantly, blockchain games are “trustless,” meaning there’s no fear of something like a random number generator determining the outcome of an event. This creates a more balanced playing field.
The benefits of playing blockchain games
There are many advantages of blockchain games as opposed to traditional video games. Here are some of them:
- They are more secure, trustworthy, and transparent. No central authority controls blockchain games, and all transactions within the game are publicly viewable on the blockchain. This makes them more transparent than traditional games, which often lack transparency regarding ownership and item manipulation.
- They offer global accessibility. Since blockchain games are decentralized and run on top of a blockchain, they can be accessed anywhere in the world. As a result, players don’t need to go through regional servers or deal with other technical bottlenecks.
- They are backed by real money, and you can earn real money. While traditional games use fictional currencies that have no relation to the real world, cryptocurrencies like Bitcoin and Ether are tied directly to assets in the real world. This means that blockchain games offer players a way to turn in-game currency into real money and vice versa.
- They can be automated with smart contracts. Smart Contracts are code files that automatically execute an action after certain conditions have been met (for example, paying someone based on their reputation score). And they can be used to determine the winner of a battle, for example, automatically.
How do blockchain games affect the crypto world?
Since the birth of blockchain technology, cryptocurrencies have been fighting for widespread adoption. Blockchain games can help make this a reality by introducing crypto to a broader audience and potentially getting them hooked on using it in everyday life.
Blockchain games also draw mainstream media attention, increasing visibility for cryptocurrencies in general. And with the availability of blockchain technology that supports larger player bases, more gamers can experience cryptocurrency in action.
The biggest appeal of blockchain games is that players can earn money by playing them. This gives gamers an incentive to familiarize themselves with crypto and explore new possibilities.
How to get started with blockchain games?
To get started with blockchain games, players need a crypto wallet that supports the required cryptocurrency. And they will also require an ERC20 compatible token to create their characters and items. In addition, you will probably have to pay an initial fee in the game’s native coins.
Once a player has an account set up, they can buy or sell items on online marketplaces for cryptocurrencies. Items range from simple skins to rare collectibles and powerful weapons, and those who obtained, built, or won some of these in-game, can sell their NFT goods and make money.
Tips for winning at blockchain games
- Players need to use strategy and be well informed about the game to win. Here are some tips for winning in blockchain games:
- Learn how smart contracts work in your game of choice, so you know what will happen when certain conditions in the game are met.
- Take advantage of in-game auctions – they help you find deals or make money by selling items.
- Study the game rules and how transactions work to avoid losing your hard-earned NFTs.
- Play fair! Blockchain games allow anyone to see what is happening in the game, so if someone cheats, it will be evident.
- Use STZ Tokens to pool your assets from different games and earn even more money
Blockchain games are a relatively new and exciting application of blockchain technology. These games offer players different benefits, from earning money by playing them to guaranteed security and transparency. They also allow for in-game assets traded on secondary markets without centralized control.
It is an industry with huge potential, leading to massive breakthroughs in gaming development if it continues its current trajectory.
Story by Chris Johnson