Since the inception of Bitcoin, the world’s first functioning cryptocurrency, the internet has never been the same. These virtual currencies were created to be decentralized assets stored on databases that work as digital ledgers and use strong cryptography to secure all transactions. Under decentralized authority, cryptocurrencies are not controlled by banks or government agencies and do not exist in physical form. All of this was made possible by the creation of blockchain technologies.
But what is blockchain technology? Before choosing a crypto game to play, gamers must understand how blockchain and cryptocurrencies work. The blockchain was created by a group of unidentified people using the name Satoshi Nakamoto in 2008, to serve as the public transaction ledger for Bitcoin. Its records are called blocks, and each one contains a cryptographic hash of the previous block, a timestamp and transaction data, therefore making it resistant to modification or hacking of its data. Cryptocurrencies are validated through a blockchain managed by peer-to-peer networks and efficiently record transactions between two parties in a verifiable and permanent way. Following the release of Bitcoin, several other cryptocurrencies were developed, such as Ethereum and Litecoin, and blockchain became a standard for managing cryptocurrencies.
So games that are based on a blockchain and utilize cryptocurrencies are called crypto games. This new type of game allows players to have total control over their accounts, items and transactions, which cannot be operated or supervised by anyone except the players. As they are decentralized, just like the cryptocurrencies, players retain ownership of everything created, meaning the content rights are held by the users and not the publishers of the game. But the best part is that players can monetize their content, make a profit and invest while playing these games.
As many new games are being developed, more people turn their attention to crypto gaming. From exchange platforms to some of the games available, here’s everything you need to know before venturing into this new genre.
Exchange
Before you choose which game to play, you must have some money in the form of a cryptocurrency. Most crypto games are based on the Ethereum blockchain, so you’ll need to buy Ether to play them. To convert your money, you must pick a cryptocurrency exchange, and there are many options available, like Coinbase or Kraken. Apart from that, you also need a digital wallet for cryptocurrencies. These applications are just like PayPal or Apple Wallet, but instead of storing actual currency, they securely store cryptographic keys on your desktop or mobile, on the cloud or even offline on a hardware device. Many exchanges offer wallet services as well, so be sure to check all the options before converting your money.
Games available
The offer of crypto games is still limited, as developers continuously improve blockchain platforms. But there are some games that are already attracting many players, and several others being developed.
One of the most successful and popular crypto games currently available is CryptoKitties. Based on the Ethereum blockchain, the game allows players to collect, breed, buy and sell virtual cats. With mechanics similar to popular 90s toy Tamagotchi, players must raise their cats and attend their needs, while improving their attributes. Your cats are unique and belong to you until you decide to sell them, and you can also breed yours with another user’s cat to create new kittens. Usually, you can buy a cat for 20 dollars in the game currency, and its value can go up or down, depending on its attributes and market fluctuations. The most expensive kitten so far was sold for almost US$120,000.
If collecting and breeding cats is not your thing, there are also strategy games like Crypto Countries. Created as a twist on classic board game Risk, it is one of the top-grossing crypto games available. In it, you can purchase countries on a digital map with Ether, and place bids on other players’ countries. If you place the highest bid, the country moves into your control, and the user that was outbid then receives the profit made on that bid. So far, the most expensive country is Japan, which costs around 700 ether.
There are also exciting upcoming games, like The Sandbox Game. Also built on the Ethereum blockchain, The Sandbox is a new gaming experience, in which you can build your own worlds and interactive adventures, create scenery and objects, and retain ownership of everything you create. With the game’s cryptocurrency, called SAND, players can buy assets, trade in the marketplace and monetize any content they create.
Attracting many players in the last months, Splinterlands is a collectible trading multiplayer card game built on the Hive blockchain, with mechanics similar to Hearthstone and other collectible card games. In Splinterlands, players summon monsters with these cards, and battle each other in different game modes, apart from buying, selling and trading in the game’s marketplace.
Whether you like open-world games or collectible ones, there’s an option for everyone. And with a lot of new games being developed every day, thrilling opportunities to earn money while having fun are also being created.