Will 2022 be the Year of Crypto Games?
Crypto games are expected to flourish in 2022, according to numerous predictions in the crypto business. Many crypto games news outlets predict that this industry will lead the market this year. DeFi and NFTs will continue growth and success in 2022, and there will be continuous excitement about metaverses, but blockchain gaming could be the area that sees accelerated growth.
Going back a few years, the year 2020 was DeFi summer, when decentralized finance protocols began to gain traction. We also saw a surge in interest in NFTs in 2021, with prices to match.
At the start of 2022, it’s natural to ask what this year’s significant topics of interest will be and if, like with DeFi and NFTs in recent years, one sector, in particular, will attract attention and spending.
What are crypto games?
Traditional games are controlled from a central location. In other words, a game’s characters, items, lands, skins, weaponry, and all coding cannot be reused in another game. Crypto gaming is different. These types of games allow everyone involved in the game, from developers to players, to own a piece of it. Characters and other resources may function with other games if they are implied in games. Users will be able to transfer their earned awards and purchases from one game to another.
All digital assets, such as XP, in-game currency, weapons, skins, characters, cars, and so on, are held by the developers in traditional games. In a crypto game, on the other hand, the user owns the objects obtained as the game progresses. Because such games are built on blockchain networks, all linked computers have access to the same amount of data (all of it), decentralizing information control and providing players and developers equal power and control.
Blockchain technology is used in crypto games for two reasons. The developers can utilize a blockchain to build the entire game or only use it for the in-game cash. Every interaction within the game is confirmed and saved in the form of new blocks in the blockchain in the first case. Non-fungible tokens, or NFTs, can be utilized for in-game digital assets in the second situation.
For those who currently trade cryptocurrencies, crypto gaming makes the most sense. It’s possible that you desire to bet anonymously or keep your trades hidden from your bank (or the government).
Today’s market has a plethora of crypto game titles that are gaining more users every day. Every day, we see a lot of crypto games news about new titles and investments in them. This sector has a lot of room to expand and become the mainstream type of gaming in the near future.
Evolution of blockchain games
CryptoKitties, launched by Axiom Zen in November 2017 for personal computers, was the first known game to use blockchain technologies. The player would purchase NFTs with Ethereum cryptocurrency, each NFT consisting of a virtual pet that the player could breed with others to create offspring with combined traits as new NFTs. In December 2017, the game made headlines when one virtual pet sold for more than $100,000.
In comparison to CryptoKitties, today’s blockchain games are far more professional and interesting. Many of them use blockchain technology to merge well-known gaming elements such as multiplayer action adventures. There are many RPG titles available today, and we may expect more AAA games to provide blockchain versions in the future.
What can we expect for 2022 from crypto games?
Many crypto games news outlets believe there is little doubt that blockchain gaming will be around for a long time. The 5000 percent growth in investment in blockchain gaming initiatives between 2020 and 2021 demonstrates investors’ increased interest in this budding industry within the crypto ecosystem.
In addition, this year brings the realization of the much-awaited concepts of blockchain 3.0, web 3.0, DeFi 2.0, and the metaverse. Prepare for a thrilling ride in 2022 as potential projects compete for spots in the rapidly shifting dynamics of the multibillion-dollar global blockchain gaming business.
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