Why Have Blockchain Games Recently Become Popular?
With the emergence of blockchain technologies like Bitcoin, it’s apparent that cryptocurrency is seeing an exponential growth in popularity. Crypto gaming allows users to own a small part of the games since the program is decentralized. This allows users to make transferable currency that can then be exchanged for real money. Blockchain technology has been adopted by some game developers recently and now there are a variety of blockchain games on the market. But is blockchain tech the future of gaming or just another passing fad?
How Blockchain Games Work
Developing games is a labor-intensive process requiring money, time, and resources. The majority of big games take years to develop and millions of dollars to create. In the end, the developer may not even profit from them. However, new modes of developing games are emerging. Now, many companies use Artificial Intelligence and Machine Learning to create assets and code for their games. Blockchain is the technology used to power Bitcoin, Ethereum, and other cryptocurrencies. It allows programs, projects and currencies to be decentralized and controlled by everyone who can access it. This means that for blockchain games, any player can own a small part of the game.
Blocto is the portal to the blockchain world and is a good entry point for crypto newcomers because it comes with a beginner-friendly wallet which allows users to effortlessly explore the blockchain world. The DeFi and NFT ecosystem on Ethereum are the largest aggregation for funds, developers, and users in the blockchain field. This recent increase in transaction volume along with the rise of ETH price over the past year has resulted in higher gas fees, and given rise to other public chains. Specifically, Solana, BSC, Flow, and other blockchains are now challenging Ethereum’s dominance. In order to bridge the gap between users and developers on different blockchains, Blocto has expanded beyond the wallet to facilitate the most efficient and frictionless cross-chain ecosystem for users. The four core products of the Blocto ecosystem (besides the wallet) are: BloctoSwap, Blocto Balancer, NFT Auction House, and Blocto Vault.
Core Products of Blocto Ecosystem
Blocto Swap is the premiere decentralized exchange (DEX) built on the Flow block-chain, made by the Blocto team. Blocto Swap supports Ethereum/Flow Tether (USDT/tUSDT) teleportation and today the accumulated trading volume now exceeds 10 million USD. Blocto Swap is the first market to trade between Flow and FUSD, and supports more assets on the Flow blockchain soon.
Teleport is the unique feature of BloctoSwap. It authorizes cross-chain transfer between Ethereum and Flow. This feature, alongside Blocto’s cross-chain asset management, further eliminates the obstacle between chains and maximizes asset utilization rate.
Blocto Balancer is a cross-chain automated market maker (AMM) that allows users to deposit their whole crypto portfolio into Blocto Balancer and earn fees as other users trade against their portfolio. It is built upon the cross-chain teleport and asset management capabilities and now expands on the extant Balancer concept to cover the entirety of the Blocto ecosystem (Ethereum, Flow, Tron, and Solana.)
Blocto Auction House
Blocto Auction House is a cross-chain NFT marketplace. The NFT market has seen exponential growth over the last couple of months. But with the introduction of new consumer-facing and high-performance blockchains, NTFs are made on varied blockchains resulting in a fragmented market. Similar to the asset bridges and cross-chain oracles seen in both Blocto Swap and Blocto Balancer, Blocto creates a cross-chain teleport service for blockchains within the Blocto ecosystem. This allows users to trade their digital collectibles on Blocto Auction House regardless of where the token is issued.
Blocto Vault is a decentralized revenue-sharing pool of the Blocto ecosystem. The revenue generated by Blocto-made products includes Blocto Swap, Blocto Balancer, and future products in the form of different tokens. These will be injected into the Blocto vault. With many products generating revenue in the form of different tokens, BLT holders can select their share of BLT in exchange for equivalent portions of the Blocto Vault Pool.
Most Popular Blockchain Games
Blockchain games are starting to become more advanced and certain games are witnessing a surge in popularity. Some of the most popular blockchain games include:
- Cryptokitties: This is a popular game that runs on the Ethereum blockchain network. Developed by the Canadian studio Dapper Labs, the goal of the game is to collect, breed, purchase and sell various Cryptokitties. Each Cryptokitty is an NFT, which means the owner owns a unique version of the pet.
- My Crypto Heroes: My Crypto Heroes is a multiplayer RPG where the player takes on quests and engages in PVP combat to level up your character. The game offers a pixelated art style, enjoyable quests and is more in-depth than your average blockchain game. Similar to Cryptokitties, this game is built on the Ethereum blockchain network.
- My Neighbor Alice: This is a sweet multiplayer game in which you can build and maintain your own island. Anyone can buy a virtual island and collect and build various items there. The developer of My Neighbor Alice say they are ‘introducing blockchain to millions of players’ and there is much to love about this new game.
Blockchain games are seeing a resurgence in popularity as gaming rises among the cryptocurrency community. They are a novel way to generate revenue and allow crypto enthusiasts to interact on a viral level. As they become more advanced and interactive, it’s likely gaming will become even more popular. Since Blocto incorporates different platforms as well as multi-chain integration, it’s a good entry point for crypto newcomers. It allows newcomers to the crypto community to begin their journey seamlessly. With the advancement of technology and ability for gamers to make money online, it’s clear that blockchain games are here to stay.
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