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Blockchain gaming adoption means more options for gamers



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Blockchain-based video games have become more prevalent in the gaming market over the past several years.

Although there were early examples like the 2017 introduction of CryptoKitties, the trend has really taken off, with well-known gaming studios even looking at the technology.

Axie Infinity, a well-known game, serves as an arresting illustration in this regard. Two years ago the token price of the project soared above $150, giving it a valuation of more than $9 billion. The game’s daily audience was getting close to 2 million individuals during that time.

When Bitcoin started to decline from its record highs in December 2021, the Axie Infinity Shard token also started to decline. However, Axie Infinity’s audience expanded to about 3 million individuals daily, and the number of transactions in its network more than doubled.

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Such dynamics have real-world causes. First off, the majority of blockchain games are played in browsers and are made with HTML5 and WebGL technologies, which have greatly increased the possibilities for browser game development. These games refreshed browsers while simultaneously enabling NFT withdrawals to external markets and the connection of crypto wallets without any regulatory restrictions.

Second, there is no direct competition for blockchain games since the traditional PC gaming industry still views the blockchain as an illogical or even “toxic” environment. This offers small studios, which are now unable to generate substantial gaming franchises, a significant development head start. Developers may immediately support the expansion of their game worlds without incurring debt or inflating working capital thanks to the in-game economy’s quick launch.

Finally, because players may make money in blockchain-based games just by participating, games based on this technology are primarily about money. Users earn tokens for performing activities and spending time in the game, which they can subsequently invest in or exchange for real money.

See Also: What are Metaverse Games and how can I earn in Metaverse?

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  1. Georgewob

    26/01/2023 at 5:36 pm

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