Crypto Gaming News
A Brief Explanation Of Crypto Gaming
Crypto Gaming is a broad topic which covers an entire spectrum of games played in alignment with blockchain technology, decentralized protocols and cryptocurrencies. Some crypto games are P2E, Play-to-Earn, and some others available are F2P, Free-to-Play.
Around 2017 a new class of games began being seen, which utilized Smart Contract functions and gave players the ability to interact within blockchain-based gaming consoles. NFT games were popularized during this time, and players were enabled with the ability to directly engage within the gaming environment by doing such things as developing and enhancing digital items existing within the game itself.
NFTs Used In Crypto Games
As crypto games have continued to evolve through the late 2010’s to present, NFTs have become integrated increasingly in gaming landscapes. In fact, non-fungible tokens have been known to be bought and sold for profit in many instances.
NFT holders can enhance their unique NFT assets in several game scenarios seen today, such as Decentraland, CryptoVoxels and The Sandbox to name a few. The increased popularity of NFTs has continued, as Web3 development looks to correlate the physical and digital worlds predominately through the integration of crypto gaming.
Recent 2022 Crypto Gaming News
While much of the news around crypto has been about the record low prices seen through the majority of the market in 2022, crypto gaming news is reporting a different story. According to the most recently available metrics, the DeFi industry saw a drop of about 14.8% in Q2. The individualized NFT market reportedly saw a decline of about 12.2%, while data shows blockchain games, and NFT-related metaverse projects recorded increases of 9.5% and 27% respectively.
The Consistency Of Gaming
In the greater gaming community it is said that games have actively brought people together since civilization’s beginning. The blockchain seems to reflect this accurately, as serious conditions like ecosystem crashes resulting in the loss of several tens of billions of investors’ funds, bankruptcies and regulatory uncertainties have all added to low prices across the crypto market in 2022, and Q2 specifically.
Blockchain-based crypto games have not only remained untouched in 2022, but increased in market share. This helps offer insight as to why a good portion of decentralized ecosystems such as Polygon and Shiba Inu are placing attention on developing mainstream gaming experiences currently. Polygon Studios recently partnered with influential YouTuber Dr DisRespect to release his exclusive online NFT shooting game, Deadrop, while Shiba Inu released news of a partnership with PlayStudios to release their NFT game Shiba Eternity.