While not all ludic activities have a monetary aspect to them, there have always been games that require a certain investment to keep playing or get better at them. Video games have not been an exception in this regard. Old arcade venues knew how to provide the right incentives for gamers to keep feeding coins into the machine.
Then, PC and console gaming revolutionized how we invest in our games. At first, developer studios had a hard time generating steady incomes without having to come up with new games every year. However, the internet soon opened many avenues that allowed gamers to fund their favorite games by buying in-game items that would enhance their gaming experience.
However, enhancing our gaming experience often requires us to spend real money on items or currency that do not have any use outside of a game. A user would never really own in-game assets as the developers were the actual owners. Game studios and publishers retained complete control over our digital assets. It was not uncommon to see our favorite weapons being “nerfed” or all of our hard-earned inventory disappear instantly when servers got shut down. Our online property rights were tenuous at best.
However, a new trend has been gaining traction and is now offering online users ways to preserve the value of their virtual assets. Many platforms today allow gamers to own and trade their in-game items and assets even outside the game. These features are powered by blockchain technology, which gives these virtual items an intrinsic monetary value. Players retain complete ownership of their assets, and many platforms have plans to allow gamers to use these non-fungible tokens on other platforms such as social media or even eCommerce.
As the popularity of blockchain games grows, adding thousands or millions of new users every month in many cases, the items inside the games become more valuable. It means that they not only retain value but also serve as long-term investments for many.
One of the most popular blockchain games today is Axie Infinity. After an initial investment that generally consists in buying your first Axie, the game lets you battle and earn Ethereum-based cryptocurrency over time. Just holding onto your initial Axie creature for a while can potentially make users increase their investment. This is just one example of a myriad of different crypto games that are out there right now, and which represent a new and rapidly expanding market.
Today, there are many successful blockchain games with millions of users actively trading virtual assets in a market that is currently valued at $2.5 billion. Right now, there are close to one billion online gamers, but the number is constantly increasing. Nearly one in seven people around the world plays games on a regular basis. Its astronomical growth over the years has projected the market to surpass 300 billion in 2026.
If you want to ride the blockchain game bandwagon, you need to understand how it works and the kinds of investments that guarantee stable long-term results. ISACorp.com offers research-based data that allows any organization to get a vantage point in the cryptocurrency world for those who want to start on the right foot. Visit their website today to find out more.
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