what is blockchain game,play to earn blockchain games,blockchain game development services
Today i will cover topics on what is blockchain game,play to earn blockchain games,blockchain game development services Despite the bullying that gamers inflict on traditional gaming companies dipping their toes into nonfungible tokens (NFTs), executives working within the NFT gaming industry are hopeful that more traditional gaming firms will jump into the space this year.
what is blockchain game
A blockchain game is a video game that utilizes blockchain technology to create a decentralized, tamper-proof game economy. In these games, players can buy, sell, and trade in-game items and assets using cryptocurrency, and the blockchain technology ensures that these transactions are secure and transparent. Some examples of blockchain games include CryptoKitties, Decentraland, and Axie Infinity.
play to earn blockchain games
Play-to-earn blockchain games are a subset of blockchain games where players can earn real-world value by playing and progressing in the game. These games typically use cryptocurrency, such as Ethereum, as the in-game currency, and players can earn this currency by completing tasks or achieving in-game milestones. Players can then use this cryptocurrency to purchase in-game items or assets, or even sell it for real-world money.
Some examples of play-to-earn blockchain games are Axie Infinity, Sorare, and The Sandbox. They are different from traditional video games, in which players can buy virtual items or currency with real money but can’t cash out, or free-to-play games, in which players can earn in-game currency but can’t cash out.
These games are considered as a new genre of games and it’s gaining popularity as it gives players the ability to earn real-world value through their in-game progress, which is a unique experience.
blockchain game development services
Blockchain game development services refer to the services provided by companies or developers to create and develop blockchain-based games. These services typically include the creation of game design, game logic, smart contract development, and integration with blockchain technology, such as Ethereum.
Some of the services offered by blockchain game development companies include:
- Game Design and Development: This includes creating the game concept, storyline, characters, and game mechanics.
- Smart Contract Development: This includes creating the game’s digital contract, which is built on the blockchain, and is responsible for managing the game’s economy and transactions.
- Blockchain Integration: This includes integrating the game with the blockchain, allowing for transparent, secure transactions and game economies.
- Game Testing and Deployment: This includes testing the game to ensure it works as intended and deploying it on the blockchain.
- Game Marketing and Promotion: This includes promoting the game and increasing its visibility among potential players.
Some of the companies that offer blockchain game development services include Enjin, Binance, and ConsenSys.
It’s worth mentioning that blockchain game development is still a relatively new field, and not all companies or developers may have experience in this area, so it’s important to do proper research and check the company’s portfolio and references before proceeding with any project.
From mainstream gaming companies jumping in, to the relevance of NFT gaming models like play-to-earn (P2E) and move-to-earn (M2E), various industry professionals shared their insights on NFT gaming trends in 2023.
Aleksander Larsen, the co-founder of Sky Mavis, the team behind the popular P2E game Axie Infinity, told Cointelegraph that it’s just a matter of time until more big players enter the space. However, Larsen also believes that these firms will hold off until they see a game generate billions in revenue.
Apart from game-focused studios, Larsen pointed out tech giants like Google being involved, mentioning how Google Cloud also runs a Ronin Network validator. “I’m excited to see big tech giants like Google and Microsoft get even deeper into the blockchain gaming industry,” he added.
When asked about the relevance of P2E in 2023, the Sky Mavis executive admitted that the model is currently flawed. He explained that:
“As the pioneers behind the first play-2-earn game, I can say with confidence it does not work in its current state. Games need to be fun first with a solid economy backing, which can enable some players to earn.”
Zoe Wei, the senior business director at BNB Chain, echoed Larsen’s thoughts. According to the executive, further experimentation and analysis are necessary to make the token economies of most games sustainable.
“The focus was too strong on the earn mechanism and not enough on the enjoyability of games,” Wei said. Despite this, Wei still thinks that both P2E and M2E concepts will be relevant in 2023, though there needs to be more improvement.
Apart from the NFT gaming models, Wei also commented on the topic of traditional game producers coming into the space. Wei believes that blockchain technology and NFTs have “undeniable benefits” for game producers and gamers. “We have already seen countless gaming studios venture into web3 over the past year, and this is a trend that will continue into 2023,” Wei added.
Related: Final Fantasy creator reveals ‘aggressive investment’ in blockchain games
Meanwhile, Carlos Pereira, a partner at Bitkraft Ventures, a gaming-focused venture capital firm, is also convinced that there will be more gaming businesses coming in this year. He explained that:
“In 2022 we saw many funding rounds related to spin-off type projects from traditional US and Europe gaming businesses and we expect the trend to continue, with some high-profile public launches in 2023.”
Pereira also mentioned that while Asian gaming firms are more public in their crypto push, western firms are also swooping in, but are “being more cautious with their PR.” Nevertheless, the executive believes that the trend will continue.
When asked about P2E, the executive argued that the initial iteration of the concept should get phased out. “We hope this first implementation of play-to-earn is buried for good,” he said. According to Pereira, such a concept makes no sense as a business model as it had no way to attract gamers who would pay to play.
In terms of other NFT gaming trends in 2023, Alex Altgausen, the co-founder of NFT game Banksters, said that community members in 2023 will have higher standards. According to Altgausen, 2021 and 2022 acted like filters, exposing NFT games that are only out to take advantage of users. He explained that:
“The era of anyone with a cute website and a game promise has ended.”
This means that 2023 will have NFT game investors that do not dive in easily and are able to check assets, product development, partnerships and media footprints before putting money into NFT games.
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