Published on June 20th, 2022 | by Bibhuranjan

What is Crypto Gaming, and How Do I Get Into It?

The gaming industry is one of the largest in the world, and it’s estimated that it’s worth over $200 billion. But, some assume that this number is much higher and that it has the potential to reach half a trillion dollars by 2025. With this in mind, the crypto community took the opportunity of their technology and implemented it into gaming.

Like they have a crypto online casino, they are spreading to other parts of the online entertainment industry. Gaming is also about to change because people will have the opportunity to earn instead of spending money on it.

Making everything legit and making the technology work properly are some of the issues these companies are coming upon. So, you shouldn’t expect that the peak of crypto gaming is going to be in a couple of years but preparing for it might be a great idea. There are also many investment opportunities before everything takes off.

Players Will Make The Profits

Traditional games are either free to play or pay to win; nowadays, this is on a new level. There are many examples where people are spending thousands of dollars just to be a bit stronger than free-to-play players. But, crypto games are meant to support the players and let them make a profit based on a few things.

NFTs are a very important part of gaming because you can use them and display your items as NFTs. This means that the item’s rarity can represent its value, and people can collect and sell these items. Everything depends on how the game is made and what the goal for players is.

Blockchain technology is responsible for this, and Ethereum is the most used coin for crypto gaming. Most of them that exist now are small games where people collect items or breed monsters with a certain value. This will change in the future, but even these small games are pulling huge numbers.

How To Start Playing?

The first thing you need to make is a crypto wallet so you can store your coins. There are many options, most of them legitimately, but you can choose the most popular platforms because they usually have great support. After making a wallet, you need to invest depending on how much you are willing to spend on the game.

Even if you are spending money, you can earn much more if you plan everything and have a bit of luck. The next step would be choosing the game you want to play. You should consider a few, including Axie Infinity, The Sandbox, Gala, and Decentraland. These are actually platforms that have their own market.

Axie Infinity

This was one of the first games that took over and gained huge popularity among the crypto community. It’s similar to Pokemon, where you would breed new pets and use them for battle. You can sell, buy, trade, and collect them to earn money, and there are two coins in the game.

You can earn one of the coins by battling other players or finishing quests, and this coin is used to breed Axies. An important thing to mention is that you can easily trade these coins for any other cryptocurrency. Some of them were sold for thousands of dollars, and the most expensive reached over $300k.

Decentraland

Decentraland is the biggest crypto game according to the market cap, and it’s connected to the ETH blockchain. One of the reasons why it’s the most popular game is that players can do a lot of things in the game. This includes making their own NFT art and implementing it to the game if they have a digital land.

These virtual properties can be very expensive, with one of them reaching more than $2 million in value. A great thing for players is that they can vote about the things in the game which was never done before.

Cover Image by Freepik

Tags: crypto casino, crypto gaming, online casino, online gambling

About the Author

Bibhuranjan Editorial Officer, technofaq.org I'm an avid tech enthusiast at heart. I like to mug up on new and exciting developments on science and tech and have a deep love for PC gaming. Other hobbies include writing blog posts, music and DIY projects.