Cryptheory: Crypto and Internet

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Is this the future of gaming?

3 min read

Playing for the fun of the game. Twenty years ago, the word “fun” in that sentence would have been totally redundant. Why else would you turn on the GameCube, the PS2 or the Xbox at all?

I and millions of other people around the world spend hours playing games of all genres for entertainment and sometimes for bragging rights. Having fun has always been the driving force behind the multi-million dollar gaming industry. From the beginning, the main incentive for players was entertainment – and not some kind of financial reward.

Play to Earn Games

But like most aspects of digital life, this too is changing thanks to the crypto boom of the last half decade. There is an ever increasing number of play-to-earn or P2E games being developed to keep up with the growth of the blockchain gaming sector. These games offer players the opportunity to earn (more or less) passive income while enjoying their gaming experience.

There are already several examples of P2E games with thousands of active ones players, leaving older generations wondering if they missed anything because we ended up playing thousands of hours for free. One of the best early examples of P2E in the blockchain world is Swissborg’s Crypto Challenge prediction game. In the run-up to the then unreleased app, Swissborg asked members of its community to predict the BTC rate within 24 hours.

The game encouraged community development by rewarding players for recommending other users and making accurate predictions. The success of the prediction game was shown by Swissborg managing to win a Build a sizable following before the actual app was even released.

Play to Earn via Coinbase

If you use the crypto exchange Coinbase uses, you may already be familiar with the play-to-earn principle. The idea behind this is that users are rewarded with tokens when they learn about a specific cryptocurrency. The P2E concept in this context served as a means for many users to take their first steps into the crypto world while learning about tokens, coins and price trends. Play-to-earn games give players ownership of in-game assets that they can upgrade through active play.

Through their participation in the game, players create value for theirs fellow players and the developers. The digital assets that can be acquired through gaming range from cryptocurrencies to tokenized gaming resources. This fact makes P2E games particularly compatible with blockchain technology.

Gaming has now become a key component in the development of Metaverse technology. With overlaps between the gaming and blockchain sectors, it was foreseeable that Metaverse gaming would be an important aspect in the future. NFT games use blockchain technology to prove ownership of certain in-game assets. With the help of artificial shortages, digital goods can be made more valuable.

Conclusion

With the increasing popularity of blockchain games, it’s not hard to imagine a future where the primary motivation for playing is financial gain. The growing adoption of blockchain technology combined with the massive gaming industry could attract many users from both fields looking to capitalize on the potential market. Playing to earn money can also be attractive to gamers as they could enjoy games as they have up until now and earn rewards at the same time – provided the quality of the games leaves nothing to be desired, even in terms of gameplay, P2E could end up being a win- Highlight win situation for gamers.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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