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kyoukage01

Cryptocurrencies and Online Games

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Some people are in born sporty, but not all the people. If  the online games platform use the crypto as their payments system then it would be the best combination the approaches of the great earing. The people wants to play in the online, the payments will blow their mind.

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yes this is good topic friend. we are use crypto and games but i think games is also very wast our time so that we have avoid this system and attentive work this crypto site.so that we can earn money a lo of this site.

thanks 

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brother i know just a little about that but i will explain about that just read my typing brother , Currently there are already many altcoins that offer payment for game items using crypto like Herocoin. However, the adoption seems less popular. so that all my information and i all i have about your question , good luck brother .

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the gaming industry have been on high this past years as on the involvement of more and sophisticated games and consoles, gaming now is one of the top industry which you can find active investors on them, crypto now incorporating with thwme will be in new dimension of analytics as wells diversification 

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8 hours ago, saraanna396 said:

It is very necessary to enter cryptocurrencies in the field of online games, as this will greatly facilitate in-game purchases, there is no need to buy Google play cards or others, especially in countries whose services are not available in them, and thus will increase the popularity of the game significantly.

In another news, Paypal announced that they will accept cryptocurrencies, and this service is already available in the US, with other countries currently being planned.

 

This can help online gamers doing cryptocurrency transactions as Paypal is already a well-known company. Trading cryptocurrencies directly is currently not allowed however (crypto must be traded to fiat first) which is quite a disappointment. Still, Paypal acknowledging crypto alone is enough. Other similar companies may follow suit.

 


 

New to the Cryptotalk forum? Here's something that might help you get started:

https://cryptotalk.org/topic/24401-forum-tutorials-tips-and-tricks-for-newbies-compilation/

 

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Considering the hype received for Bitcoins in the current year there is no doubt that chances are high that online gaming industry would start to adopt Bitcoins as a reward to playing and winning in games. And yes gamers who are more exposed to computer games would have more affinity towards computer functioning and they are more likely to Stumble Upon Bitcoins and other cryptocurrencies. So online games can be considered as a good promotional measure for Bitcoins and other cryptocurrencies.

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As for the games now, many of them provide the ability to purchase and upgrade their stages with cryptocurrencies and adopt them as payment methods Also, some of them provide for giving currencies in exchange for playing and downloading them, and this means in one way or another the spread and expansion of the use of cryptocurrencies in various fields.

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Well, there are many online gambling sites that are supporting cryptocurrencies as a payments to play freely to their game and some gaming store are accepting bitcoins like steam, they are accepting crypto as a payment and im happy when i read that information because im playing with that platform.

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The online game world is always interested in crypto. If there is an opportunity to have good games and have to make some crypto it will be something great. As I see it the nfts can create a difference in this. I have recently used the open sea exchange and recommend to give a look and learn it. I will try to make a tutorial and explain it when I have learned it better. NFTs can become the standard in gaming to trade items inside games.

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On 12/23/2020 at 6:41 PM, cryptovlek said:

The online game world is always interested in crypto. If there is an opportunity to have good games and have to make some crypto it will be something great. As I see it the nfts can create a difference in this. I have recently used the open sea exchange and recommend to give a look and learn it. I will try to make a tutorial and explain it when I have learned it better. NFTs can become the standard in gaming to trade items inside games.

There are already some good usecases existing to support your comment. One such usecase is something I found on this article. As explained below, NFTs can be used in a way not only to be used in in-game transactions, but also a convenient way to profit in the cryptocurrency world. Ironically, it takes a tragedy on a global scale (COVID-19) for people to realize the potential that cryptocurrencies can bring in online games.

 

Spoiler

The NFT Game That Makes Cents for Filipinos During COVID

Leah Callon-Butler

(Leah Callon-Butler, a CoinDesk columnist, is the director of Emfarsis, a consulting firm focused on the role of technology in advancing economic development in Asia.)

 

In the early 1980s, anti-video game propaganda depicted zombie-like “vidiots” hypnotized by their Pac-Mans and their Space Invaders. Lured into the dank depths of the arcade, innocent teenagers were at risk of becoming addicted, flunking school to instead kill and destroy. 

 

Fast forward to today and video games are recognized as a valuable tool to promote skills development. Microsoft’s Minecraft is used to demonstrate engineering principles and World of Warcraft has taught students about strategy and scientific concepts. Elon Musk and Mark Zuckerberg have touted the educational benefits of video games, and Brock Pierce has credited his success in bitcoin to an early start in gaming. 

 

In the Philippines, one popular blockchain-based game is even providing pathways out of poverty and helping spread the word about novel technology. Created by Sky Mavis, a Vietnamese startup, Axie Infinity is a decentralized application (dapp) on the Ethereum blockchain where players breed, raise, battle and trade adorable digital critters called Axies.

 

Ijon Inton, an Axie player from Cabanatuan City, which is about 68 miles north of Manila in the province of Nueva Ecija, first learned about it in February of this year when his friend stumbled across an explainer video on YouTube. Intrigued by the “Play to Earn” element of the game, he decided to give it a go.

 

“At first I just want to try its legitimacy, and after a week of playing I was amazed with my first income,” said Inton, who is currently earning around 10,000 PHP ($206) per week from playing the game around the clock. 

 

Inton soon invited his family to play, too, and after a few weeks, he also started telling his neighbors. A crypto trader since 2016, Inton helped his friends set up a Coins.ph account so they could buy their first ETH and get started. Now, there are more than 100 people in his local community playing to earn on Axie, including a 66-year-old grandmother.

 

The COVID-19 crisis, which has confined people to their homes and limited the usual opportunities to earn an income, combined with the compelling nature of the Axie game itself, has encouraged people who might not usually play with dapps to do just that. 

 

“To a crypto investor, gaining $300 or $400 a month might not mean that much, but for these people it means the world,” said Gabby Dizon, the Filipino co-founder of mobile app development company Altitude Games. “It’s food on the table, it’s money for their families and it’s saving them when they cannot even leave the house during this pandemic.”

 

The game itself could be described as Pokémon meets CryptoKitties, the latter being the collectibles craze that attracted so much traffic to the Ethereum blockchain in late 2017 it brought the network to its knees

 

Like CryptoKitties, Axies are non-fungible tokens (NFT) that are represented as cryptographically unique cartoon pets. They can’t be replicated, which makes them digitally scarce, and like Pokémon, they are born to battle. With their adorably plump little bodies and extraordinary features – one of mine has a chili pepper for a tail, another has half an eggshell on its head – they look like something of a fantasy-edition Mr. Potato Head. 

 

There are a number of ways to make money with Axies. For new players, the most common method is by earning the utility token, small love potion (SLP), and selling it via a liquidity pool at the decentralized trading platform, Uniswap. Issued as a reward when Axies win battles, SLP is in demand because it’s required to get a couple of Axies in the mood to breed.

 

Chatting with me via Zoom, Inton explains how earning SLP became his full-time job. Before COVID-19, the plan was to move to Japan and take up a new career as a trainee butcher. This is a common story for many Filipinos. Faced with a lack of job opportunities, they are forced to leave their families and seek employment abroad.

 

Inton was due to fly out in May. But now, with international travel suspended, he is stranded back home in the province. Behind him, I can see his wife nursing their baby in one arm, and in the other she’s playing one-handed Axie on her mobile phone. Each day they play around 20 hours combined, taking it in shifts. 

 

She does four hours in the afternoon and another six around midnight, while he plays in the morning for eight hours and another two before bed. Together, they can rack up around 1,500 SLP per day, while sharing the caring duties for their three children age six, four and 18 months. Currently, SLP is trading for under 2 PHP, but on June 8 it went as high as 11 PHP

 

For more seasoned players, or those with greater risk appetite, higher returns can be made by trading the Axies themselves. Inton has dabbled in this space, breeding Axies and selling them for as much as 2,000 PHP ($41). Just last week, two very rare Axies were sold for 60 and 90 ETH. The highest price ever fetched for a single Axie currently sits at 110 ETH

 

To put this kind of money into perspective: Since the first round of  quarantine was enforced on the main island of Luzon, national unemployment has risen to an all-time high at 17.7% (compared to 5.1% a year ago) and GDP shrank 16.5% for the same period. 

 

Further, with more than 100,000 overseas Filipino workers repatriated, the Asian Development Bank has estimated remittance losses somewhere between $31.4 billion and $54.3 billion this year. Last year, remittances made up over 10% of Philippine GDP – acting as a crucial lifeline for poor families, especially during a crisis. 

 

While the government has provided some assistance, it’s hardly enough to get by. Since March, the Inton family have received two relief payments totaling 13,000 PHP ($267). Their local barangay council has tried to help further by providing handouts of rice and canned sardines, but it’s only about a week’s worth of food delivered once a month. So the ability to supplement their income while housebound, is quite literally a lifesaver. 

 

Jeffrey “Jiho” Zirlin, Axie Infinity’s Growth Lead, first discovered the Inton family’s story when he was doing a regular scan for bots to ensure no automated programs were gaming the system. He raised a red flag when he identified 10 accounts operating 24/7 from the same IP address. Inton reached out via Discord to appeal the ban on his account, so Jiho asked to see video evidence of the family playing Axie.

 

The video (captured by an Axie-playing neighbor) shows Inton and his two sisters, wife, brother-in-law, two nephews, an aunt and uncle, and a cousin – all sitting on the floor of Inton’s home playing Axie. Each player looks up briefly to smile and wave at the camera before getting back to Axie. 

 

“We definitely want to get people who are outside of Ethereum, outside of the dapp space, outside of NFTs, into Axie,” Jiho said. He has observed other Axie play-to-earn community clusters in Indonesia and Venezuela, but thinks this might be the first evidence of a multi-generational household of dApp users. “As it becomes more easy to onboard, as the benefits get easier to explain, our players feel more confident bringing in their friends and family,” he said. 

 

Jiho attributes much of Axie’s success in the Philippines to Dizon, at Altitude Games. When the two first met at GameFest in Manila 2018, Jiho sent Dizon three Axies and told him to get started. Dizon went on to become a top breeder, owning around 800 Axies and 200 pieces of land (another example of an NFT that can be bought via the Axie Infinity marketplace). 

 

Dizon had been in mobile games since 2003 but only started experimenting with blockchain in 2017, around the time that CryptoKitties was taking off. “I’d never really been interested in the whole fintech scene,” he told me via a Zoom call, noting that a lot of his friends got into crypto when it was recognised as a technology that could drastically improve the cost and efficiency of remittance. “While I could see how important it was, it just never really interested me from a career standpoint,” said Dizon.

 

But when NFTs finally emerged, that’s when he got excited. “It seemed like a really cool thing to play with, so I got into crypto via the route of blockchain games,” he said. Dizon has also built an Ethereum-powered car racing game inside Decentraland, called Battle Racers, where players can design, build and race cars built from NFT parts.

 

Dizon said it’s not easy to succeed in the world of blockchain games. He has seen many try and fail in the last couple of years, noting that it’s hard to keep an audience engaged in any game. But in the Philippines, Axie has hit a nerve by becoming a viable means for making a living and spurring viral growth through word of mouth referrals. Especially during COVID-19, Dizon has seen more and more Filipinos popping up in their Discord channel, wanting to know: How do I get started? How do I play?

 

Even with all the usual growing pains that plague Ethereum, including onboarding difficulties and rising gas fees, this video game has captured the hearts and minds of an entire community in the rural Philippines – demonstrating a strong use case for dapps and teaching players a range of complex concepts from NFTs and DeFi, to smart contracts and tokenomics – all within the space of a few months. With the right design and incentives in place, it seems more blockchain developers should be looking to the world’s underserved populations for a lesson in user adoption.

source: https://www.coindesk.com/nft-game-filipinos-covid

 

The adoption of cryptocurrencies by mainstream online game companies may yet be still far, but we are getting close. It is only a matter of time.

 

Edited by kyoukage01
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New to the Cryptotalk forum? Here's something that might help you get started:

https://cryptotalk.org/topic/24401-forum-tutorials-tips-and-tricks-for-newbies-compilation/

 

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Honestly, my friend, there are some games that give players some cryptocurrencies, but in very small quantities, and this is what I consider a waste of time as the members want to get good financial gains and you cannot get them through the games

This idea is just for fun and to get very little profits

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On 11/13/2019 at 12:53 AM, kyoukage01 said:

So, what do you think of this article? Will the adoption of cryptocurrencies in the online gaming community become successful and widespread on this present day? Or do we have to wait a few more years for it to happen? Share your opinions and thoughts on the matter.

I believe that the adoption of cryptocurrencies within video games will be progressive, since some projects aim to generate income for those who play, something that would undoubtedly create a community that would constantly demand more. I am aware of some, especially the battle royal.

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1 hour ago, Mark wood said:

Actually from the first days which I know about anything I hate games because it is wastage of time we have to work in these things which help us in every field of life and make this sure to achieve all goals in life and be successful and have bright future..

Do not think always  that playing  game is just  a waste of time because some time its help to inactive  your brain working  system .  On the other hands,choice some good reputed  game and become expert  on those game as there has some specific  prize pool competition .. 

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 yes I appreciate your suggestion because your opinion is is very useful and valuable but according to my point of view online games and cryptocurrency are two different things because digital currency has no links to the online games because when you playing games then you will not improve your skills and you will not gain profit so when you use cryptocurrency as a part-time work then you can easily work on it and are much and more profitable earning from this real based learning program and you can also improve your skills which is very useful and beneficial for you and your education.

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Well, it is really tough to accept the gaming for Bitcoin for me. I didn't know that there would be some legit games that really can generate the Bitcoins. It is because half of the previous year, I have lost my previous time given to these fake games. I have used more than 30 earning games and spent many time there. But couldn't find any legit game from I got only one dollar. You may are talking about the PC games that would be heavily to be processed. But I haven't tried any game on computer or Laptop yet.

 

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Hello, if it is true, what has been thought about the importance of making cryptocurrencies known through different ways, in this we can include games or well-known gamers.
At present you can see different forms of games where they allow you to win some free cryptography go, even more I think that this year will be good for the NFTs, berry that they are gaining strength and in the last days they are heard a lot, the games that maintains the usefulness of them, so I think it will be a good year for NFTs, even so, good campaigns on crypto can be maintained, within video games, and an example would be ubisoft, which is planning the adoption of cryptocurrencies.

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Spoiler

Enjin Coin Becomes First Gaming Cryptocurrency Whitelisted for Use in Japan

Sebastian Sinclair

ENJ has been given the official nod by the Japan Virtual Currency Exchange Association, a self-regulatory body.

 

Enjin Coin (ENJ) has jumped over Japan’s strict regulatory hurdles to become the first gaming cryptocurrency to be whitelisted for use in the nation.

According to a press release shared to CoinDesk on Tuesday, ENJ has been given the official nod by the Japan Virtual Currency Exchange Association (JVCEA), the country’s self-regulatory body overseeing cryptocurrency exchanges.

The token is expected to be listed on Japan’s Coincheck exchange on Jan. 26, meaning users will be able to purchase ENJ with Japanese yen.

ENJ is a store of value token that gets locked into non-fungible tokens (NFTs) when created by users within the Enjin gaming and app ecosystem. Those NFTs can be traded, swapped and integrated cross platform with the potential to create entirely new in-app economies, according to the company.

“From Super Mario to Pokémon and Final Fantasy, Japan is home to pioneering games that hold a lasting place in pop culture,” said Enjin CEO Maxim Blagov. “We believe some of the world’s best blockchain games will come from the Japanese gaming industry.”

Coincheck is one of Japan’s largest licensed cryptocurrency marketplaces and is regulated by the country’s Financial Services Agency (FSA).

According to the FSA’s history of cryptocurrency listings, ENJ is the first in the gaming category to be listed on an exchange within the country.

Enjin, the company behind ENJ, entered the Japanese market in 2019 partnering with Tokyo-based blockchain accelerator HashPort that sought to bring Enjin’s platform to the country’s games market. That’s also the time when the two firms collaborated to push for ENJ’s regulatory approval from the JVCEA to be listed on exchanges, according to the press statement.

“Enjin made a bold commitment entering the Japanese market in 2019, determined to grow [its] business in the space regardless of market conditions,” said HashPort’s CEO Seihaku Yoshida. “After more than a year of due diligence, the approval and listing of Enjin Coin on Coincheck is an important milestone for Enjin and adoption of its blockchain platform in Japan.”

At press time, ENJ is changing hands for $0.30, up 27% over 24 hours and 71% for the week, according to CoinMarketCap.

source: https://www.coindesk.com/enjin-coin-becomes-first-gaming-cryptocurrency-whitelisted-for-use-in-japan

 

Here's something both the crypto and gaming communities should now watch out for: a crypto token for exclusive use in gaming, legitimized in Japan and awaiting approval elsewhere for use in gaming transactions.

 

If you've read and understand the linked article above, you might realize the potential in this token once gaming giants like Nintendo joins ship. For one thing, there is potential for the token to be used to buy game merchandises like game consoles, limited-edition collectibles, and other stuff. Another application would be as virtual currency for transactions on buying/selling in-game items.

 

According the their official website [ https://enjin.io/about/enjin-coin ], the token is based on Ethereum. It has been created around 2017. Want to invest while the token is cheap? Too late for those who want to buy the tokens while it is still a project in its infancy, but not yet too late right now before another major news like mainstream games adopting its use comes its way, which may pump its value higher.

 

BTW, there is ENJ(???) token on Yobit.

https://yobit.net/en/trade/ENJ/BTC

Can someone confirm if this is the same Enjin token, or just a namesake of another's?

 

10 hours ago, Alex Fron said:

Well, it is really tough to accept the gaming for Bitcoin for me. I didn't know that there would be some legit games that really can generate the Bitcoins. It is because half of the previous year, I have lost my previous time given to these fake games. I have used more than 30 earning games and spent many time there. But couldn't find any legit game from I got only one dollar. You may are talking about the PC games that would be heavily to be processed. But I haven't tried any game on computer or Laptop yet.

 

Have you tried both CryptoKitties and Axie Infinity? Both are pretty much real and not fake, especially CryptoKitties. And if you've read my previous post in this topic, you'll find that the game Axie Infinity can even be played on mobile devices. The tokens you get from those games though are Ethereum-based, not Bitcoin's.

 

Edited by kyoukage01
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New to the Cryptotalk forum? Here's something that might help you get started:

https://cryptotalk.org/topic/24401-forum-tutorials-tips-and-tricks-for-newbies-compilation/

 

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Like many online games, if we play them, then we can get cryptocurrency from there for free. And there are some games where we can also sit in cryptocurrency and then win a lot of cryptocurrencies by winning those games. And many people play online games just because they have been able to get a lot of cryptocurrencies from there. 

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I think the most important reason for using these currencies is to reduce the risks that game developers and players face, including hacking and piracy accounts, stealing game licenses, and cheating results, because the blockchain collects important data, including the player's account information and items owned by him, arranges it and stores it in one place, and makes it  Transparent to gamers, developers, and game designers.

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I think that the world of online games, the world of cryptocurrencies, a subscription may be created between them, so it is possible to see payment in the games become via cryptocurrencies or international competitions that take place in some popular games where prizes are in cryptocurrencies. I think this will be more fun.

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UPDATE: Cryptocurrency-based "play-to-earn" games are slowly becoming more popular, owing to the challenges posed by the pandemic to the population at large, who has to deal with lockdowns causing them to be isolated and in need of a pastime and/or suffered setbacks with jobs and livelihood. The idea of getting to play computer games to entertain oneself AND get paid while doing it has always been a long sought dream of hardcore gamers: with blockchain-based online games, this has now become possible.

Spoiler

GameFi: How to Earn Crypto Playing Games Online

Online gaming is no longer just a pastime.
 

GameFi is one of the hottest new trends to emerge from the crypto industry, combining decentralized finance (DeFi) and non-fungible tokens (NFTs) with blockchain-based online games.

 

Unlike many traditional online games, which operate on a “pay-to-win” model and allow players to purchase upgrades in order to gain an advantage over others, GameFi introduces a “play-to-earn” model. This concept involves giving players financial incentives to play and progress through games. In some cases, this has allowed gamers to earn a full-time income by doing so.

How it works

All objects in these types of games are expressed as NFTs – digital tokens used to prove ownership of scarce intangible items. Think of things like plots of land, avatars, costumes, weapons and gold bars. Once players find and accrue these items through gameplay, many have the option to trade these with others in digital marketplaces for different NFTs, or sell them in exchange for cryptocurrency.

 

Depending on which game is played, users can increase their earning potential by dedicating time leveling-up and improving their characters, creating monetized structures on their land that other gamers pay to use or by competing against others in tournaments.

 

In order to keep track of what every player owns, all NFTs and cryptocurrency transaction data are stored on a public blockchain. This is a type of distributed, digital record-keeping technology maintained by a global network of computers. Leveraging this technology in gaming provides a number of benefits, including:

  • Players can easily prove ownership of their in-game items.
  • There is no single point of failure, meaning players will no longer be at risk of losing track of what they own if the underlying gaming company experiences technical issues.
  • Items accrued during gameplay cannot be counterfeited, removed or destroyed.
  • Game-native cryptocurrencies can be sent and received without the need for intermediary settlement, clearing or custody.

Some games also include DeFi elements such as staking, where players can lock away certain tokens in order to earn annual interest and other rewards they can save to purchase other in-game items or unlock new content.

What you need to play

In order to take part in any these play-to-earn games, users will need to do the following:

  • Create a cryptocurrency wallet: To store their virtual currency and NFTs, and make in-game transactions. Which wallet you need will depend on which blockchain the game was built upon. For example, MetaMask – an Ethereum-based crypto wallet service – will work with any GameFi game built on Ethereum.
  • Purchase starter items: All GameFi games are free to download. However, many require players to first purchase characters, native crypto tokens, decks of cards or upgrades in order to begin.
  • Pre-funded crypto wallet: You will need to pre-fund your crypto wallet with a particular cryptocurrency in order to purchase starter items and proceed. Cryptoblades, for example, requires users to download MetaMask, purchase Binance coin (BNB) and exchange it for the game’s native cryptocurrency, SKILL.

Top GameFi games right now

For players looking to get involved in these blockchain-based games and start earning cryptocurrency and NFTs, here is a breakdown of some of the leading games currently available.

Alien Worlds

In this game, players join an alien universe consisting of several planets where they must fight for scarce resources and mine the game’s native cryptocurrency, trillium (TLM). Players can also battle each other, go on quests and earn additional income by renting out their land to others.

 

Alien Worlds was the first game to break through 100,000 users and currently boasts over 2.5 million players. This was, in part, due to its free-to-play nature and the fact its metaverse world spans across multiple blockchains including WAX, Ethereum and Binance Smart Chain.

  • Native crypto token: trilium (TLM)
  • Blockchains: Native WAX blockchain, but also runs off Ethereum and Binance Smart Chain (BSC)
  • Monthly user base: 1,000,000
  • Initial investment required: You are required to buy NFT game cards such as land in order to mine.

CryptoBlades

CryptoBlades is a web-based role playing game that emulates traditional games like Skyrim or Dark Souls. Players can battle monsters or complete in-game raids to earn SKILL tokens. To help with battles, players can craft weapons to build an advantage over their opponents or boost their power. These items can then be traded in an open marketplace.

 

The gameplay itself is straightforward. There are four main components – fire, earth, lightning and water – allocated to each character, weapon, attribute and enemy. Each component will have its strengths and weaknesses, which players must then utilize and build strategies to beat their opponents.

  • Native crypto token: cryptoblades (SKILL)
  • Blockchain: Binance Smart Chain
  • Monthly user base: 510,000
  • Initial investment required: Users will need to purchase around 0.2 BNB to play and pay for transaction fees in-game.

Axie Infinity

A Pokemon-inspired universe where you can buy, take care of, breed and trade digital monsters called “Axies.” Axie Infinity runs off its own specifically built sidechain so that it can optimize gameplay and scale effectively.

 

The game has a high earning potential but requires high involvement to breed, care for and trade rare or unique Axies. These monsters can battle each other to earn SLP tokens or be sent on quests for resource farming.

Upland

Upland is an NFT metaverse made to parallel our world where players can buy, sell and trade properties linked to real-world addresses. Users can then play, run businesses and connect with other Uplanders across the world.

 

Players have an Upland avatar that can roam throughout a city to look for available properties for purchase. Or they can visit other players’ properties. To earn special UPX rewards and increase a property’s earnings, users can complete a Collection. This is similar to Monopoly; the more properties you have of a single color, the more valuable they are.

  • Native token: upland (UPX)
  • Blockchain: EOS
  • Monthly user base: 155,000
  • Initial investment required: To open an account, you need to first purchase a virtual property.

Splinterlands

This is a digital collectible card game where players build up a collection of cards with various abilities and stats and use them to battle other players. Each card is represented by an NFT and are tradable or can be exchanged on the open market. The game relies on one-on-one fighting where players are randomly assigned battle parameters.

 

Both players then have a limited amount of time to build a deck of cards they will use to fight each other.

  • Native token: dark energy crystals (DEC) and splintershards (SPS), which is the governance token
  • Blockchain: Hive blockchain
  • Monthly user base: 120,000
  • Initial investment required: You must buy the summoner’s spellbook for $10 if you want to unlock the play-to-earn features and receive DEC tokens.

Where did GameFi come from?

The emergence of GameFi comes from a combination of factors that dates back to 2017 and the emergence of the NFT phenomenon CryptoKitties. The digital collectibles economy proved a viral success, with CryptoKitties amassing over 14,914 users a day at its peak. CryptoPunks, a collection of 10,000 pixelated NFT characters also built on Ethereum, enjoyed similar success, surpassing $1 billion in sales over 2018.

 

Unfortunately, the success of these NFTs showed both the good and bad sides of the state of blockchain technology at the time. Games like CryptoKitties caused heavy congestion on the Ethereum network, leading to extreme spikes in transaction fees and much slower than normal transaction confirmation times. These technical issues highlighted a clear gap in the market for more efficient and scalable platforms that could handle the rising demand from online gamers and virtual asset collectors.

 

Since then, a number of new “Ethereum killer” blockchains have emerged that promise faster transaction speeds, greater scalability and cheaper fees. These include the likes of Solana and Cardano, both of which have recently set new all-time highs as investors bet big on new dapp competitors.

 

The proliferation of decentralized finance (DeFi) platforms over 2020 was the next critical component enabling GameFi’s growth, introducing a range of blockchain-native financial platforms that run entirely using smart contracts. This provided the infrastructure for decentralized exchanges where in-game cryptocurrencies could be launched from and traded, as well as additional features like lending and staking.

 

In September 2020, Yearn.finance founder and DeFi developer Andre Conje tweeted about the gamification of monetary policies in a decentralized environment. He recognized the multiple benefits DeFi and NFTs could bring to the online gaming industry, and GameFi applications quickly started to form. Axie Infinity was one of the first play-to-earn games to take off in a big way, surpassing $1 billion in revenue on Aug. 9, 2021.

What’s next?

GameFi has already gained significant traction, with the collective market capitalization of top games breaking $14 billion. But key opinion leaders in the crypto industry believe there’s a lot more ahead for this new sector, with Tron founder Justin Sun recently stating he believes this new sector will be key to increasing cryptocurrency adoption.

 

”GameFi is going to be the next big thing that makes the DeFi, NFT and the larger crypto space easy to understand and be involved in.”
 

Crypto startups and gaming companies are already racing to capitalize on this explosive trend, with a long list of new games preparing to launch over the next several months, including:

There are also entire gaming platforms being built, such as MOBOX, which allows people to create their own interoperable games and NFTs. It also integrates DeFi elements like liquidity pools and staking where gamers can generate an income from their assets which can be used to purchase upgrades or generate keys to unlock chests containing new NFTs.

 

The GameFi universe does not seem to be slowing down any time soon. With new investment and GameFi-specific funds pouring in, the potential of the sector is endless.

source: https://www.coindesk.com/learn/gamefi-how-to-earn-crypto-playing-games-online/

 

This is now especially true in one particular country. Games like Axie Infinity are now becoming such a craze in that country that other companies are now getting encouraged to develop their own blockchain-based games to market over there.

https://old.coindesk.com/video/what-to-know-about-the-play-to-earn-phenomenon-in-nft-gaming

Note: You'll need to click on the link to watch the video.

 

Edited by kyoukage01

 

New to the Cryptotalk forum? Here's something that might help you get started:

https://cryptotalk.org/topic/24401-forum-tutorials-tips-and-tricks-for-newbies-compilation/

 

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Hello my friend
I'm from the few more years🙋🏻‍♀️
Yes, companies programmed for games have become using cryptocurrencies on a large scale and more severely than before, and this is reflected positively and negatively on users as well. I cannot deny the fact that some users actually win and some games among them are real and really fun and some of them are fraudulent There must be some lying, and it is not without fraud
You have to be very careful today

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On 08.09.2021 at 11:41, Jenny Lavelle said:

Hello my friend
I'm from the few more years🙋🏻‍♀️
Yes, companies programmed for games have become using cryptocurrencies on a large scale and more severely than before, and this is reflected positively and negatively on users as well. I cannot deny the fact that some users actually win and some games among them are real and really fun and some of them are fraudulent There must be some lying, and it is not without fraud
You have to be very careful today

Nevertheless, we are on the threshold of very interesting times. When it will be possible to play the game and get money for it. Many gamers have dreamed about it. Of course, there is a lot of fraud against this background, but it also exists in other sectors of DeFi, exchanges, tokens, etc.

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On 10/22/2021 at 11:05 PM, Dagamand007 said:

Nevertheless, we are on the threshold of very interesting times. When it will be possible to play the game and get money for it. Many gamers have dreamed about it. Of course, there is a lot of fraud against this background, but it also exists in other sectors of DeFi, exchanges, tokens, etc.

Here's a sample: recently I've tried Axie Infinity, and I'd say that it is definitely possible to earn while playing. The thing is, the SLP token is subject to price changes just like any other crypto coins out there. Players who have no idea how the cryptocurrency market works often find themselves in a world of hurt once they got on the losing side of the investment. This was especially true when the game's SLP prices skyrocketed and newbies bought overpriced pets only for the hype to die down and realized they got duped.

 

Axie Infinity itself is quite a good game IMO. Some people just made poor investments and found themselves on the losing side.

 

Gamers dabbling into cryptocurrency-based games really ought to learn at least some of the workings of cryptocurrencies, on top of whether the game itself is solid enough to withstand the scrutiny of game analysts. Just like regular company investments, a half-assed crypto game with mediocre gameplay may might as well turn into a scam investment if eventually nobody wants to play it.

 


 

New to the Cryptotalk forum? Here's something that might help you get started:

https://cryptotalk.org/topic/24401-forum-tutorials-tips-and-tricks-for-newbies-compilation/

 

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As for me, I personally don't like games in general. However, I have friends who are very passionate about modern online games. They earn points, buy something for their heroes, change, etc. The NFT theme is very popular in games. Now the game is no longer just a hobby, it is a business where there is an opportunity to earn money, to collect NFT, to get tokens and so on.


Grand time: launchpad

 

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