Unlike traditional RFT gaming items, which only hold value within the gaming ecosystem (like coins or gems), crypto gaming leverages the innovative realm of blockchain technology to offer gamers real-world rewards. As the latest trend in gaming, crypto games are introducing an entirely new way for gamers to interact with and enjoy video games.
Rather than pumping quarters into arcade machines or grinding for hours to advance in a video game, players can now earn real-world rewards that they can spend or trade with their fellow gamers. Thanks to the power of blockchain technology, in-game rewards now transcend the game ecosystem and can be traded on online marketplaces or directly converted into fiat currencies like USD. These rewards, called non-fungible tokens or NFTs, can be traded for stablecoins or even turned into physical assets like toys and collectibles.
Building Worlds, Building Wealth: The Economics of Crypto Gaming
NFTs in video games are becoming more common with the rise of crypto gaming. The blockchain gaming trend allows gamers to monetize their in-game activities and participate in the real-world economy, giving players the potential to make a substantial amount of money from playing video games.
Play-to-earn blockchain games typically reward players with in-game tokens or cryptocurrency based on their level of gameplay and participation. For example, in the Axie Infinity video game, players breed and battle monsters to earn Smooth Love Potions which can be sold or traded on NFT marketplaces for real-world value. Other examples of NFT-based blockchain games include The Sandbox, a virtual world built on Ethereum which offers users plots of digital land that can be purchased, traded and monetized with NFTs.
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