The World of Crypto Gaming
Gaming is an increasingly popular way to spend time online. But now, thanks to a new trend and special technology called blockchain, it’s even more fun and interesting. This is the world of crypto gaming, where players can potentially make money by playing and investing in game-based digital assets.
In the traditional riverfront times gaming world, virtual currencies and items are a common fixture: they’re dropped by defeated bosses, earned as rewards for completing quests, or purchased in exchange for cosmetic items. But these digital items typically aren’t owned by the gamers — they’re owned and controlled by the game publishers, which control how and where they can be used.
Crypto Gaming 101: Understanding the Basics
However, crypto games use blockchain technology to give gamers a new level of ownership over their in-game assets and monetization opportunities. Instead of being controlled by a single central authority, as with traditional gaming ecosystems, the tokens that comprise crypto games are stored on the Ethereum blockchain. This gives gamers a sense of true ownership over their gaming assets, which they can trade or cash out for real money.
In addition, some blockchain games offer other ways for players to earn money, including by breeding in-game digital assets. For example, the popular blockchain game Axie Infinity allows gamers to breed two in-game characters to produce a unique collectible that can then be sold on a marketplace. Other games support staking, where gamers can earn passive income by locking up their in-game tokens for a certain amount of time.