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In recent years, games using blockchain technology have increased their presence in the game industry. There were early examples like CryptoKitties, which launched in 2017, but the trend has really started and major game studios are also investigating the technology.
As of early 2022, blockchain gaming has a market capitalization of around $25 billion, and it doesn’t appear to be declining anytime soon, even at the bottom of a bear market. his two most stable areas in the cryptocurrency market this year are blockchain games and non-fungible tokens (NFTs), which have been very closely intertwined recently and are the new economy. producing a phenomenon.
A prominent example here is the famous game Axie Infinity, whose token price surpassed his $150 last fall and the project capital surpassed his $9 billion. During the same period, the game’s daily viewership approached 2 million. December 2021, Bitcoin ( Bitcoin ticker below $19,586 ) is a record high Axie Infinity ( shaft ticker below $11.16 ) tokens also began to decline, but Axie Infinity’s viewership increased to about 3 million per day for him, and trading activity on the network increased four times his.
There are objective reasons for such dynamics. First, most blockchain games use the browser, and the developer uses his HTML5 and WebGL technology, which radically expands the possibilities of browser game development. Such games have reshaped the browser while offering the ability to connect crypto wallets and extract NFTs into external markets without regulatory restrictions. Second, blockchain gaming itself has no competitors, as the traditional PC gaming industry still calls blockchain an incomprehensible or even “toxic” space.
This provides a significant development advantage for smaller studios that have yet to build a large game franchise. The rapid start-up of the in-game economy allows developers to quickly fund further development of their game worlds without going into debt or blowing up their working capital. Blockchain games are primarily about income, after all, because blockchain-based games allow players to earn money just by playing. By completing tasks and spending time in the game, users receive tokens that can be invested or converted into real money.