?>

A Beginner’s Guide on Cryptocurrency Video Games

2.4 k views
crypto video games are gaining popularity

Collecting virtual items connected to a blockchain network in transparent ownership tracking isn’t new. However, a 2016 platform dubbed “Rare Pepe Wallet” developed by Joe Looney was the first platform where people could buy tokens to represent virtual trading cards on a Bitcoin blockchain.

However, it took CryptoKitties’ to turn the concept into a game in November 2017. Cryptokitties brought a rise in digital collectibles built on cryptocurrency. The rising trend clarified that cryptocurrency and gaming are a perfect match. 

What are Crypto Video Games?

Crypto video games allow players to earn cryptocurrencies by doing various activities. This is a new way for gamers to get rewarded for playing games. For example, some crypto games reward players with in-game coins, which can later be exchanged for other cryptocurrencies, purchase items, or buy characters and sell them in the in-game Marketplace.

Currently, the cryptocurrency gaming industry provides several models in which gamers can kickstart the ever-exciting crypto world. 

  • Pay-to-play model – In this model, players are required to make an initial purchase before participating. This way, you pay for your first character or an item like a jersey or playing field for you to play.
  • Free-to-play model – Here, you join the platform and begin playing and earning cryptocurrencies right away.
  • Mining model – Players are rewarded with coins after completing certain activities, such as generating certain game items through solving complex mathematical functions.

Types of Crypto Video Games

DApp Video Games

DApp (Decentralized apps) games are games built purely on blockchain technology. They follow the core blockchain principles of decentralization, immutability, and transparency.  

That said, each move you make in the game is irreversible. Therefore, you must initiate a transaction where a fee applies to remain in the game.

Hybrid Crypto Games

Hybrid Crypto games take advantage of blockchain technology and integrate a decentralized environment and non-fungible tokens (assets on the blockchain) for game items. However, the platform itself is not based on the blockchain. 

In hybrid crypto games, the game exists on the company’s central server, but the items and the economy exist on the blockchain. 

For instance, if your favorite video game integrates blockchain assets, it automatically becomes a hybrid crypto game. 

How to Become a Crypto Video Gamer

To become a successful crypto gamer, here are a few steps vouched by expert crypto gamers: 

  1. Choosing an exchange – The most rewarding crypto games are based on a pay-to-play model hence the need for starters to have some money to invest. A crypto exchange is a platform you need to convert your cash into a cryptocurrency like Ether. There are currently many crypto exchanges to choose from. The process of selecting the best exchange that fits your needs is an important one.
  2. Choosing a wallet – Now that you have cryptocurrency, you need a safe place to store them. A crypto wallet is a software program allowing crypto users to store and retrieve cryptocurrencies easily. Again, several wallets exist. Good research will help in choosing the best fit for your needs.
  3. Choosing a crypto game to play – Your goals best describe the game you choose. The industry has everything from entertainment to learning games and those for profit-making. 

Examples of Crypto Video Games

Besides the landmark Cryptokitties, other crypto video games include:

Mythereum

Launched in February 2018, Mythereum was the first Ethereum-based payable trading card game.

Also known as the “last-man-standing” game, the ultimate goal is for players to keep their characters alive.  

Beginners can start with a free Survivor Edition card, Genesis cards, or Awakening card editions.

All cards are blockchain-based assets that can be withdrawn to the Ethereum wallet anytime. 

EOS Knight

EOS is one of the most prominent blockchain networks, especially in building, hosting, and executing dApps. 

Available in Android and iOS and as a browser extension, EOS Knight is the first game implementation of the EOS blockchain.

The game revolves around fighting the bad guys in several ways. First, the player can collect and trade EOS-based assets through actions controlled by smart contracts.

MegaCryptoPolis

If you’ve been looking forward to a “decentralized world,” then the MegaCryptoPolis game was developed for you. The game gives you a chance to create your decentralized city, manage citizens & taxes, and finally sell the town to gain profit. The game is based on the ETH blockchain and hence supports ERC-721 tokens.

Merits of Crypto Video Games

Security – Crypto video games use strong cryptography to secure transactions. The systems also employ a high level of anonymity for users while allowing no third-party access to users’ information.

Speedy Payment – Crypto gaming needs no banks or credit companies to process transactions making the payment process very fast. Besides, there are no chargeback problems associated with third parties.

High Bonuses – Some crypto-based Casinos even offer 100% or more bonuses on customers’ deposits.

Crypto Games Setbacks

Currency Volatility – One thing crypto investors will never run from is the volatile nature of coins that makes it difficult to ascertain the actual value of your total earnings from gaming.

Attacks – While cryptosystems are much more secure, they are not immune to malicious attacks. Several attacks are on record, especially during transactions.

Conclusion

People go through different paths to learn a new skill or technology until they gain the confidence to invest more time and resources. Playing a game is one tried and approved way to train your mind to learn new things while having fun. 

Bitcoin coin symbol
Btc
Bitcoin
$62.547
price
red chart
decrease symbol0.84959%
price change
TRADE NOW

Investing in crypto is still a viable and attractive way to make money. Crypto Video games are the best way to start your adventure with cryptocurrencies.

Previous

Beginner’s Guide to Cryptocurrency Margin Trading

Next

Coinsquare Hacker Reveals Plan To Steal Bitcoin

Written by

561 posts

A part-time trader with a fine eye for detail. Over the years, I have developed an intriguing interest in blockchain technology and enjoy writing about cryptocurrencies.

VIEW AUTHOR

More author posts

How SolidProof Ensures Transparency and Security through Audit and KYC Systems

Solidproof is among the most trusted blockchain security and smart contract auditing companies in the crypto market today. The Germany-based company aims to fix the security and transparency issues smothering the crypto space. But, unfortunately, as the industry attains more progress, so do the opportunities for bad actors to victimize honest investors. According to a yearly report on crypto crimes by Chainalysis, $14 billion of all transactions in crypto in 2021 were associated with scams or money laundering. These figures…

The Importance of Backtesting Crypto Investment Strategies

Crypto backtesting involves running and applying a specific trading strategy to historical market data to evaluate how it would have performed. The analytical method delivers a clear overview of qualified strategies that can be applied in a real-world environment using real capital. The mathematical simulation provided by crypto backtesting is an essential component that traders use to analyze past market data and ultimately develop an effective trading system. The process can empower investors to pick out a crypto strategy that…

aelf Announces Its First Metaverse-Themed Hackathon with Money Prizes

aelf network has announced its metaverse-themed Hackathon, “Top of OASIS,” which will take place on December 12, 2021. The platform encourages all potential participants to advance their project proposals by February 9, 2022. Additionally, aelf will offer full support to all the projects participating in the Hackathon. Developers can register their blockchain projects, including DeFi and GameFi proposals, and compete for spots in aelf's prizes pool. Top of Oasis Hackathon Main Dates Top of OASIS is aelf’s first metaverse-themed blockchain…

Institutional Investors who have Expanded their Portfolio in 2021

Cryptocurrency and blockchain investments from the first nine months of 2021 have surpassed last year's total. In the first half of 2021, the worldwide crypto and blockchain activity was $8.7 million, more than double last year's figures. It is a significant sign that institutional money is streaming into crypto. Furthermore, it increases the investor base, and thus the institutional awareness and knowledge of this sector are also surging. The "institutional adoption" of crypto is already underway. Today we focus on…

Understanding Cardano, IOHK, and EMURGO

Cardano is the first decentralized public blockchain platform developed on a research-first-driven approach. Charles Hoskinson, the co-founder of Ethereum, created it in 2015 and later launched it in 2017. It comprises a development team of global researchers and engineers. This platform's development continued thanks to academics, computer scientists, and their peer-reviewed papers. The Cardano ecosystem involves three founding entities that work together. These partners are EMURGO, IOHK Company, and The Cardano Foundation. Cardano in a Nutshell Cardano is a public…

Billionaires Who Have Publicly Showed Interest in Cryptocurrencies

The cryptocurrency boom of 2017 saw a rise in their acceptance from prominent economic figures. Since then, their volatility has continued significant investments in them. Today there's a push for their global mass adoption. Industry-leading lights and renowned celebrities have expressed their support for the assets. Nothing best captures this reality than Forbes's recent list of the world's wealthiest people. It indicates a growth in the number of crypto billionaires over time. From an asset that courted controversy and skepticism,…

Publish your own article

Guest post article. Guaranteed publishing with just a few clicks

START PUBLISHING ADVERTISE WITH US

Browse categories

Explore trending topics in the crypto community right now.

Bitcoin

SEC Greenlights Multiple Bitcoin ETFs, Signaling Major Leap for Cryptocurrency Markets

The U.S. Securities and Exchange Commission (SEC) has made a landmark decision by approving 11 spot bitcoin exchange-traded funds (ETFs). This move represents a significant moment in the cryptocurrency industry, marking a shift towards greater institutional adoption and accessibility for investors. The approved ETFs include products from major firms such as BlackRock’s iShares Bitcoin Trust, Grayscale Bitcoin Trust, ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETP Trust, WisdomTree Bitcoin Fund, Fidelity Wise Origin Bitcoin Trust, VanEck Bitcoin Trust, Invesco Galaxy Bitcoin…

Bitcoin Should be Banned in the United States: Charlie Munger

Berkshire Hathaway’s vice chairman, Charlie Munger, called for a ban on cryptocurrency in the United States on Monday, similar to the one in China.  In an op-ed published with the Wall Street Journal, Munger argued that Bitcoin isn’t a currency, commodity, or security, but simply a form of gambling “ with a nearly 100% edge for the house. As such, the enactment of a federal law should ban such things from happening. Munger cited the Chinese communist party’s ban on…

Tesla’s BTC Positions Remained Unchanged in Q4 of 2022

According to a new earning report from automotive manufacturer Tesla, the company did not sell any of its BTC holdings in the fourth quarter of 2022. Amid speculations that the company had traded BTC during the testing bears, CEO Elon Musk revealed it was yet holding on to its BTC stash. Tesla Maintains Holdings After Initial Sell-Off In Q2 of 2022, Tesla opted to sell 75% of all its BTC. The car manufacturer received close to $950M in exchange. Notably,…

Here’s When Grayscale Debates the SEC in Court on its Bitcoin Spot ETF

The District of Columbia Court of Appeals has marked a date for when Grayscale and the Securities and Exchange Commission (SEC) may present oral arguments regarding the approval of a Bitcoin spot ETF.  Each side will present its case at 9:30 am ET on March 7, with the SEC arguing against the product, and Grayscale arguing in favor.  Grayscale VS SEC The court date – revealed in a court order filed on Monday according to CNBC – is much earlier…

MORE ARTICLES

Ethereum

Ethereum’s Zhejiang Staking Withdrawal Testnet for Shanghai is Live

At 15:00 UTC on Wednesday, the much-anticipated Zhejiang testnet for staking withdrawal went live on Ethereum’s Beacon chain. Zhejiang will enable the testing of the Ethereum Improvement Proposal (EIP) 4895 which allows for staking withdrawals. This is in preparation for the network’s next major update, the Shanghai hard fork slated to launch sometime in March. Users Can Make Simulated Withdrawals with Zhejiang In a tweet yesterday, DevOps engineer at Ethereum foundation Barnabas Busa gave details about the Zhejiang testnet slated…

Ethereum Devs Disagree Over Technical Tweak as Shanghai Upgrade Nears

Post-merge Ethereum users have been eagerly awaiting the commencement of the network’s next major upgrade, Shanghai. However, after over 3 months of prep time, it appears the Shanghai rollout isn’t going as smoothly as expected. What Exactly is the Shanghai Upgrade? In September last year, the much-publicized Ethereum Merge also known as the Ethereum 2.0 upgrade went live. Ethereum underwent some significant changes as its consensus mechanism transitioned from proof-of-work to a cost-efficient proof-of-stake system.  However, since the Beacon launch…

FTX Hacker Converts 50k Stolen ETH to BTC

Per a report from blockchain analysis firm Chainalysis, the attacker behind the Nov 11 FTX exploit, is converting the stolen ETH to Bitcoin. There were muted fears the seemingly inexperienced perpetrator could dump all its ETH holdings. On Sunday, the attacker dumped 50k ETH on-chain, with ETH's price dipping by almost 7%.  https://twitter.com/chainalysis/status/1594349583416840199?s=20&t=pgvQHeVytI20eKQ1ls9bxw Hacker Moves 50,000 ETH to New Address Over the past week, the perpetrator had been steadily swapping the cryptocurrencies they had carted off for Ether tokens. This…

Censorship Concerns: 51% of Ethereum Blocks Now OFAC Compliant

According to new data, over half of the blocks on the Ethereum network now reportedly comply with the US Treasury OFAC’s standards. This comes roughly a month after the platform’s monumental merge update. Phasing Out Tornado Cash The Office of Foreign Assets Control is the intelligence and enforcement agency of the US  Treasury Department. Indeed, the OFAC administers and enforces US  financial sanctions. A prime example of this is the recent, highly-publicized ban on crypto mixer Tornado Cash.  According to…

MORE ARTICLES

Trading

How to Leverage Arbitrage Opportunities in Crypto Markets

Cryptocurrency arbitrage has become an increasingly popular investment strategy as the crypto market grows and evolves. Arbitrage involves taking advantage of pricing discrepancies between markets or exchanges to profit.  Investors can leverage profit opportunities by understanding cryptocurrency arbitrage while managing associated risks. In this guide, we'll explore cryptocurrency arbitrage and how it works. A Bitcoin-related example will help us illustrate the concepts of this strategy. What is Arbitrage and How Does it Work in Crypto Markets Crypto arbitrage trading is…

The Different Types of Copy Trading in Crypto

Are you interested in trading cryptocurrencies but feel intimidated by the complexity of the process? Copy trading is a great way to get into crypto without needing to be an experienced trader. With copy trading, investors can benefit from the experience and knowledge of more experienced traders, allowing even beginners to succeed. How does copy trading work, and which tips do you need to know to succeed? In this article, we'll explore all aspects of copy trading in crypto. What…

How to Spot an Unsafe Crypto Exchange

Cryptocurrency exchanges have become increasingly popular as they provide a platform for people to buy and sell digital assets. Unfortunately, not all crypto exchanges are safe or reliable.  With the rise of cybercrime and fraud, you must learn to spot an unsafe crypto exchange before investing your money. This guide will help beginners identify and avoid potential risks when selecting a cryptocurrency exchange.  The Role of Crypto Exchanges on the Digital Assets Market Cryptocurrency exchanges play a crucial role in…

What Is Grid Trading in Crypto?

Crypto grid trading has become a popular strategy because of its ability to help traders capitalize on market volatility. Grid trading means you can produce consistent profits by taking advantage of price differences in different markets or time frames. By establishing buy and sell orders at predetermined intervals, you can take advantage of these fluctuations in an automated way. This guide will explore the different aspects of grid trading and provide an overview of its benefits, challenges, and more. Through…

MORE ARTICLES

Tech

Introducing una Messenger: A Paradigm Shift in Blockchain Connectivity

The digital landscape is set for an unprecedented transformation with the introduction of una Messenger, the latest innovation from web3 development powerhouse Wemade. This platform represents an evolution of the "PAPYRUS Messenger," serving as the cornerstone of the ambitious "unagi" initiative, aimed at catalyzing the mass adoption of blockchain technology. The "Unbound Networking & Accelerating Growth Initiative" seeks to bridge the divides between diverse blockchain services and networks, heralding a new era of interconnectedness. A New Frontier in Blockchain Communication…

Bit2Me Champions WEMIX Token in Pioneering European Listing

Bit2Me, Spain's premier virtual asset exchange, has recently broadened the horizons for cryptocurrency enthusiasts by listing WEMIX, the cornerstone token of the WEMIX3.0 blockchain ecosystem. This marks a notable achievement as WEMIX's inaugural venture into the European market, emphasizing the token's role in facilitating a range of blockchain-based activities, from gaming transactions to decentralized finance (DeFi) applications. Launched with the intention to democratize access to WEMIX for the 450 million Spanish speakers around the globe, this strategic move aligns with…

CryptoVirally Expands with Fresh Crypto Marketing Offers and Cointelegraph Upgrades

In an exciting update for the cryptocurrency marketing landscape, CryptoVirally has announced a series of new entries and enhancements to its already comprehensive range of services. These updates, aimed at providing tailored marketing solutions for crypto projects, include new limited-time offers and expanded options for Cointelegraph publications. Limited Offers: A Game-Changer in Crypto Marketing  CryptoVirally's limited offers section presents an enticing opportunity for crypto projects to leverage high-impact marketing services at discounted rates. These offers, available for a limited period,…

Breaking Boundaries in Blockchain: WEMIX’s ‘una Wallet’ Sets New Standard for Multi-Chain Asset Management

The WEMIX Foundation has unveiled 'una Wallet,' a revolutionary digital wallet designed to offer unparalleled convenience and security in managing digital assets across various blockchain networks. The announcement, made on January 17, 2024, signifies a new era in the seamless integration of multiple blockchain protocols, including Arbitrum, Avalanche, BNB Smart Chain, Ethereum, Kroma, Optimism, Polygon, and WEMIX3.0. 'una Wallet' is more than just a digital wallet; it represents the culmination of WEMIX's innovative efforts in the blockchain space. It serves…

MORE ARTICLES