Traditional gaming is moving to the blockchain, and in more ways than one. CoinTelegraph recently reported on this, for the full deep dive check out the article here.
Let’s revisit here why industry is about to explode and here is why:
- The gaming industry is growing, FAST. The number of gamers sits at 3.24 billion per a recent report from Statista. With the expansion of mobile network users across Latin America and Asia over the next decade this number will only continue to grow.
- Blockchains make it possible for gaming economies to organically form. By adopting a Play-To-Earn model, the economy itself is wired to go viral. Blockchains can make this process more seamless. And as a plus, blockchains are borderless. Players in Turkey and Canada have no barriers to enter.
- Public blockchains are open to all and permissionless. Any user who has a cell phone and an internet connection is welcome to participate. The onboarding process is easy and open to all.
- Open protocols collapse and compress the cost of existing technologies. Public blockchains are open protocols. The Binance Smart Chain (BSC) is an open protocol. Anyone can build games on Bsc.
- Economic difficulties and opportunities Could Make Play-To-Earn a Real Job. With increasing inflation across the US and the world, millions are looking to start side jobs to increase their income. 4.4 million in the US alone outright quit their jobs. With increased numbers involved and gaming and entertainment, a play-to-earn economic model could attract millions into a new Metaverse-based economy. Instead of going into gaming to escape, imagine gaming for a living, or a viable side hustle. It would make participation in such an economy as organic as one could imagine.
Blockchain technology provides the most direct route to a Play-To-Earn economy that is global, inclusive and organically viral. Looking into the boom into blockchain gaming that is entering the Metaverse, let us look into a few games.
Alien Worlds, is a game built on the Wax blockchain. In the game, players compete for a scarce resource, TLM, which they use to enhance their power in the game by staking and voting in a DAO. Alien Worlds had over 1.5 million players in the past 30 days, surpassing Axie Infinity as the most popular crypto-based video game in the world. TLM is also an actual cryptocurrency that has doubled in value in the past month from $0.19 to $0.38.
Another up-and-coming game is CryptoMines, which is a SciFi play-to-earn NFT game where players compete to collect Workers and Spaceships to travel through the universe searching for a cryptocurrency called $ETERNAL. It has seen 229,000 users on its platform over the past 30 days.
In this nascent and rapidly growing gaming metaverse, CoinFantasy is securing a position as a leader in the fantasy gaming sector. CoinFantasy has its skin in the game with its upcoming gamified fantasy crypto markets.
CoinFantasy’s Play-To-Earn model allows anyone to participate. To join in users only need to take three steps:
- They join a contest you want to participate in.
- They select a basket of crypto assets they believe will increase in value.
- Winners earn real money as well as level up in the platform that allows them to mint NFTs & get exclusive access to Metaverse
There are over 100 unique NFT player card attributes with different rarities. These NFTs will allow users to participate in crypto fantasy club events and also entitled to collectibles & in-game merchandisers
GameFi, with its Play-To-Earn model and the metaverse, will continue to rise and what it can mean for the world. Can it mean a new world economy? Can it mean an opportunity for everyday people to improve their situation in life?
The next two to three years of this economy will be telling and exciting, to say the least.