{"id":4651,"date":"2024-10-20T07:54:00","date_gmt":"2024-10-20T07:54:00","guid":{"rendered":"https:\/\/digitalcoinprice.com\/blog\/?p=4651"},"modified":"2024-11-07T08:14:36","modified_gmt":"2024-11-07T08:14:36","slug":"crypto-games-present-or-future","status":"publish","type":"post","link":"https:\/\/digitalcoinprice.com\/blog\/crypto-games-present-or-future","title":{"rendered":"Crypto games: Are they the present or the future?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-flat ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #223c50;color:#223c50\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #223c50;color:#223c50\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/digitalcoinprice.com\/blog\/crypto-games-present-or-future\/#How_crypto_gaming_works\" title=\"How crypto gaming works\">How crypto gaming works<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/digitalcoinprice.com\/blog\/crypto-games-present-or-future\/#The_most_widely_used_tokens_in_crypto_gaming\" title=\"The most widely used tokens in crypto gaming\">The most widely used tokens in crypto gaming<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/digitalcoinprice.com\/blog\/crypto-games-present-or-future\/#How_to_earn_with_crypto_gaming\" title=\"How to earn with crypto gaming\">How to earn with crypto gaming<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/digitalcoinprice.com\/blog\/crypto-games-present-or-future\/#The_risks_of_crypto_gaming\" title=\"The risks of crypto gaming\">The risks of crypto gaming<\/a><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\">Virtual money. It\u2019s been a major mainstay in the wonderful universe of gaming ever since it first arrived. Who among us can name a game that doesn\u2019t use some kind of token as an internal currency, whether that\u2019s shells, sci-fi creds, or just the much-beloved classic of the Gold Piece? They\u2019re everywhere and a few years ago you might have been justified in thinking that there was nothing new coming in this space! Now, however, the advent of blockchain technology has turned that assumption on its head and the world of currency in games may never be the same again.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">By racking up wins or even just devoting chunks of time to their favorite titles, crypto gamers can scoop up digital assets such as non-fungible tokens (NFTs) or cryptocurrencies, which then become the player&#8217;s property. These digital assets can be sold or traded on online market platforms or converted directly into fiat currency!<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_crypto_gaming_works\"><\/span>How crypto gaming works<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Crypto gaming is based on several different business models. P2E games offer users various means of earning or purchasing tokens in the game. Users can make money by obtaining these tokens early in the game, hoping to see the community of gamers and the value of the tokens grow.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Some crypto games use ads and in-game item sales &#8211; e.g. certain weapons, skins, or even virtual land &#8211; to make money. Developers also incentivize users to spend as many hours on the game by doling out cryptocurrencies or NFTs when they complete certain missions. These are usually simple tasks to complete during games, such as defeating a certain number of enemies or accumulating a certain amount of resources.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Other crypto gaming platforms offer cryptocurrency enthusiasts the opportunity to use crypto in different ways. An online casino is one great example of how this can work. For example, you might use your crypto to play <\/span><a href=\"https:\/\/www.slots.lv\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">real casino games<\/span><\/a><span style=\"font-weight: 400;\"> such as roulette, poker, slot machines, and much more. These platforms operate on blockchain technology, which ensures secure, transparent, and anonymous transactions. If you are seeking privacy and faster processing times, crypto casinos are the best choice, and they have tons of games on offer for you to choose between! Also, keep in mind that blockchain-based payments typically come with lower fees and quicker withdrawals, making this even more attractive for casino enthusiasts.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_most_widely_used_tokens_in_crypto_gaming\"><\/span>The most widely used tokens in crypto gaming<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The global market for crypto gaming tokens is huge right now. In many cases, these tokens are exclusively usable within a particular game or gaming ecosystem, although the top tokens also have high value in the real world. The top three by market capitalization are as follows:<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4>ApeCoin (APE)<\/h4>\n<p><a href=\"https:\/\/www.benzinga.com\/money\/is-apecoin-a-good-investment\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">ApeCoin (APE)<\/span><\/a><span style=\"font-weight: 400;\"> is the highest-valued crypto gaming token. It\u2019s the native currency of Bored Ape Yacht Club, a collection of non-fungible digital tokens based on the Ethereum blockchain (ETH). Many independent developers use ApeCoin in their titles. For example, the user community of Benji Bananas, the P2E game for mobile devices, can accumulate special tokens that can be easily exchanged for ApeCoin.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4>Decentraland (MANA)<\/h4>\n<p><span style=\"font-weight: 400;\">MANA is the native token of Decentraland, a virtual world based on the Ethereum blockchain (ETH). Players can use MANAs to <\/span><span style=\"font-weight: 400;\">buy virtual land plots<\/span><span style=\"font-weight: 400;\"> in Decentraland&#8217;s NFT or exchange them for other goods and services within the game.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4>Sandbox (SAND)<\/h4>\n<p><span style=\"font-weight: 400;\">Sandbox is another metaverse, or virtual world that is based on the Ethereum blockchain. Sandbox (SAND) tokens facilitate several transactions within the game, including the purchase of plots of virtual land called LAND.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_to_earn_with_crypto_gaming\"><\/span>How to earn with crypto gaming<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">We can think of the tokens that crypto gamers receive within the game as small rewards for completing quests or other requirements. Items that can be accumulated within the game &#8211; such as weapons, armor, skins, and other tools &#8211; can have enormous value in the real world. DMarket is <\/span><a href=\"https:\/\/digitalcoinprice.com\/coins\/dmarket#News\"><span style=\"font-weight: 400;\">one of many online platforms for selling NFTs<\/span><\/a><span style=\"font-weight: 400;\"> and other virtual items that are obtained through gaming.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Just as with investors who buy stocks, crypto gamers who get engaged early in a successful game are the ones who have the best chance of success. In 2001, RuneScape&#8217;s user community received free virtual party hats as part of a Christmas promotion launched by the game. Twenty years later, Jaffer explains, these party hats have come to be worth billions of Gold Pieces (the game&#8217;s currency). It would not be a surprise if history were to repeat itself and the early players in crypto gaming platforms and currencies were repaid for their foresight with concrete gains in the real world!<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_risks_of_crypto_gaming\"><\/span>The risks of crypto gaming<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Unfortunately, at least at this stage, there are still many risks associated with crypto games and their tokens. One of the main risks is that they are subject to the same dynamics that govern supply and demand and affect the popularity of the game. If players abandon a particular title en masse, for example, the demand for the currency it uses can dry up completely and deprive the tokens of any value.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Given the novelty of these kinds of video games, we do not fully know the elements that can contribute to their continued success. No one can guarantee that their assets will maintain their value in the long run, but still, the outlook for now is good, and more and more people are starting to play and get into crypto games.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Virtual money. It\u2019s been a major mainstay in the wonderful universe of gaming ever since it first arrived. Who among us can name a game that doesn\u2019t use some kind of token as an internal currency, whether that\u2019s shells, sci-fi creds, or just the much-beloved classic of the Gold Piece? They\u2019re everywhere and a few [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2048,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-4651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-guide"],"_links":{"self":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/4651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/comments?post=4651"}],"version-history":[{"count":1,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/4651\/revisions"}],"predecessor-version":[{"id":4652,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/4651\/revisions\/4652"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media\/2048"}],"wp:attachment":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media?parent=4651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/categories?post=4651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/tags?post=4651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}