Month: April 2022

A platform war breeding amongst NFT games

The worlds of cryptocurrency and video NFT games are becoming convergent. The combination nicknamed “play-to-earn,” and more commonly referred to as “web3,” has the potential to usher in a new generation of gaming experiences with real-world economics and new player incentives. This, in turn, has the potential to fundamentally alter the gaming industry’s existing business structures.

That is if the game industry’s conventional platform gatekeepers choose to open their doors. Currently, many of them remain closed, relegating these NFT games to obscure parts of the internet, and it’s unclear what it will take to convince the industry’s most powerful corporations to embrace this new technology. Meanwhile, the blockchain gaming business has grown to be one of the fastest-growing parts of the game industry, with no indications of slowing down.

Initially, NFT games were pay-to-play, designed for quarter slots and arcades. Decades later, and as a result of innovation and pioneering business strategies, we now have free-to-play games as well, which monetize through an in-game economy of digital products — Fortnite dances and Genshin Impact skins, for example — that is strictly controlled by the creator.

However, NFT games are an entirely new paradigm, based on the concept of producing real-world value from in-game items and other types of digital products via the use of non-fungible tokens, cryptocurrencies, and other blockchain technologies.

If this trend continues, it might help provide the groundwork for the much-desired metaverse that so many social media and gaming companies seem to be pursuing. Mark Zuckerberg believes that the market for virtual apparel in the future metaverse may be worth a billion dollars.

The gaming industry is about to be disrupted by cryptocurrency. At first glance, these NFT games titles seem to be the next buzzy NFT craze, as crypto fans, businesses, and investors apply the non-fungible token idea to all manner of digital commodities.

The concept is straightforward: rather than purchasing a game outright or investing money in a free-to-play title, the game would pay you to play it, with built-in incentives to compensate for your time and often a tiny financial share in the business that created it.

By participating in a game of this kind, a player may earn unique goods with verifiable ownership that can subsequently be exchanged, purchased, or sold. This is where the blockchain and NFT components come into play since these products have unique IDs that attribute a changeable value to them, much like a limited-supply commodity or work of art. 

Typically, the game’s exchange is for cryptocurrency, as is the case with the Pokémon-like NFT games platform Axie Infinity, whose parent firm was valued at $3 billion earlier this month after a Series B led by Andreesen Horowitz. In that regard, these gaming NFTs are similar to those made from digital artwork, trading cards, or other sorts of online collectibles that have been swept up in this year’s crypto gold rush. However, gaming NFTs wreak havoc on current game economies, some of which already permit real-world trading of in-game commodities (though many game makers forbid it).

Valve joined the fray earlier this month, and the situation has grown out of hand. The business, which controls the world’s largest PC gaming marketplace, discreetly announced a ban on “blockchain-based apps that issue or facilitate the trade of cryptocurrencies or NFTs.” The firm, which is notorious for its secrecy, had nothing more to say on the subject.

A Steam prohibition on blockchain technology almost guarantees that NFT games will never reach the public, at least in the near future.

Due to the fact that no company has yet developed a mechanism for distributing such software through Apple or Google’s app stores, there are few other ways to reach new players aside from sideloading on Android or traditional desktop apps, both of which require players to seek out the game on their own.

Apple and Google have not officially prohibited such NFT games. However, not even Axie Infinity is accessible on mobile app stores at the moment, but the game’s designer hopes to offer it on mobile devices in the next months.

Valve’s decision has sown divisions in the video gaming industry. Epic, ever keen to destabilize its competition, intervened and said that it will promote blockchain gaming, despite CEO Tim Sweeney’s warning only weeks previously that NFTs and related concepts were fertile ground for frauds and fraud. You can read about A layman’s guide to NFT games by visiting http://yvkids.org/a-laymans-guide-to-nft-games/

Sweeney said that Epic is open to “innovation in the fields of technology and money,” as well as blockchain NFT games that “comply with applicable laws, disclose their conditions, and be age-rated appropriately.”

A group of blockchain and non-traditional gaming firms has now written to Valve, pleading with the corporation to change its decision. Valve has yet to make an official statement on the situation, albeit despite a number of conflicts over the years, the company seldom speaks out on policy or moderation concerns.

NFT games that include blockchain technology and web3 token-based technologies such as DAOs and NFTs may significantly improve user experience and open up new economic possibilities for both users and creators,” the letter states.

The surge in NFT gaming is inevitable, one way or another. The questions now are how large the market can grow without the support of traditional platform providers such as Apple, Google, or Valve, and how it will look in a gaming environment where even Epic, which has stated its support for blockchain in gaming, is not incorporating NFTs into its own products.

Axie Infinity is an excellent illustration of where things may go in the near future. The game, which is being developed by Vietnamese firm Sky Mavis, has a complicated economy based on two currencies that are used to breed new “Axies,” which are essentially imaginary animals similar to Pokémon that are kept on the blockchain. These currencies may be obtained by defeating Axies or by selling the ones you already own.

Axie Infinity’s innovative gaming structure has successfully propped up a whole new cryptocurrency, which is currently developing rapidly and rewarding individuals who invest in its economy with hundreds, if not millions, of dollars.

It’s understandable why investors are intrigued. According to investment company Drake Star Partners, $1.8 billion of the $9 billion in private finance secured in the first nine months of 2021 was for projects using NFTs. Every day, it seems as if new firms are forming, money are flooding in, and more established businesses are jumping on the NFT and blockchain gaming bandwagon. You can read more about blockchain gaming and NFT by clicking here.

Axie epitomizes a new generation of NFT games, in which designers are not motivated by fear but rather by the desire to create an open, free-market economy in which players may freely enter and exit,” Andreessen Horowitz general partner Arianna Simpson said earlier this month. “The new concept enables players to really own portions of the game and profit from their efforts as the game grows in popularity and profitability.”

It seems unavoidable that blockchain technology, and particularly NFTs, will become ingrained in the gaming business in the future. However, there is valid worry today about whether such principles should be completely implemented, with little to no governmental supervision or examination, in an industry already plagued by exploitative monetization and addictive gaming mechanisms. That’s not to mention the frauds, fraud, and other financial risks inherent in dealing with volatile cryptocurrencies that may make or destroy substantial fortunes in a matter of hours.

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A layman’s guide to NFT games

Earning money from video NFT games has long been a pipe dream for both die-hard and casual players. This is now fully achievable, owing to the rapid advancement of technology. You may write about video NFT games, broadcast your own gameplay, or create your own. You may even become a professional video game athlete and participate in a variety of events if you so want. However, all of them involve considerable effort. What if you could make money just by playing? Enter the world of cryptocurrency gaming.

You’ve undoubtedly heard about a whole community earning a career online by playing NFT video games.

After one resident won PHP 1,000 for 15 days of playing the popular game Axie Infinity, other members of the community joined in on the fun. Given that the quarantine is unlikely to end anytime soon, it’s worth exploring other methods to generate money from home.

To assist you in getting started with NFT crypto gaming, we’ve put up an educational tutorial that covers all the essentials.

NFT is an abbreviation for non-fungible tokens. To grasp the meaning of non-fungible, it’s necessary to first examine the idea of fungibility. This term refers to an asset’s capacity to be swapped for comparable assets of equal value.

Currency is an example of a fungible asset. If you wish to exchange your four five-peso coins for one twenty-peso bill, you may do it at your nearby sari-sari shop. They may vary in appearance, but they both contain the identical PHP 20 value.

Thus, when an asset is non-fungible, it is one-of-a-kind and cannot be simply replaced by another of equal value. For instance, you cannot just print a copy of Juan Luna’s Spoliarium picture. This is why the picture is valuable—it is unique. Thus, non-fungible tokens are essentially one-of-a-kind digital tokens that may be owned, purchased, or sold for any amount of money. The more unique your NFT is, the more money you may earn.

How Do NFT NFT games Work?

NFTs are fully unique cryptocurrencies. They are kept in a blockchain ledger as a string of numbers and letters and include numerous pieces of information such as who owns the NFT, who sold it, and when it was sold, among other things.

Additionally, each piece of data saved in NFTs is encrypted, assuring its legitimacy and scarcity. In essence, NFTs are digital files that have been authenticated using digital certificates. This is why NFTs have developed into a profitable sector, particularly in the art world.

What Are Some NFT Examples?

  • Nyan Cat – Yes, the cuddly GIF cat that went popular in 2011 was sold as an NFT for a whopping USD 580,000 on its tenth anniversary.
  • Charlie Bit My Finger – Do you recall the viral video of two brothers being the cutest infants you’ve ever seen? It has been converted to an NFT and was sold for GBP 538,000.
  • WarNymph – Grimes, an artist, and Elon Musk’s fiancée stunned the art world when she sold her NFT artwork for USD 5.18 million in a couple of minutes.
  • NBA Top Shot — The NBA has also joined on board, offering NBA highlights on NFT cards. Its most costly item at the moment is a USD 250,000 Ja Morant dunk card.

What exactly is cryptocurrency gaming?

If NFTs are popular in the world of art, how do they fit into the world of gaming? NFT enables game makers to include real-world stakes in their NFT games. Players may purchase, sell, and trade with other players using cryptocurrency by converting characters and things in the game to NFTs. As a result, cryptocurrency gaming was formed. Visit http://yvkids.org/importance-of-cryptocurrency-in-axie-infinity-video-games/ to read about the Importance of Cryptocurrency in Axie Infinity Video Games.

Cryptocurrency NFT games, often known as play-to-earn games, are a subcategory of video NFT games in which players may spend cryptocurrency to purchase digital products and unlock bonuses that enhance their gaming experience.

What makes crypto NFT games unusual is that, as NFTs, all of the goods you possess in the game are genuinely yours. The makers of the game you’re now playing have no say in what you may do with it, and it’s very difficult for them to take it away from you. Crypto NFT games are more likely to stay active for years if they are supported by an active economy. This means you’ll have plenty of opportunities to purchase, trade, and make money just by playing a game.

How Can You Earn Money by Participating in Cryptocurrency Games?

It varies with each game, but in general, you’ll be paying real money through cryptocurrencies to purchase characters or stuff and play the game.

Each time you win, you get special goods that are either common to the game or unique to it. Additionally, since all goods in crypto NFT games are non-fungible tokens, you may sell some of your more valuable and uncommon items to other players. After that, you may convert your stuff to bitcoin and pay them out in the real world using your favorite cryptocurrency platform.

Cryptocurrency NFT games Available in the Philippines

Infinite Axie

Platforms: Windows, macOS, Android, and iOS

Axie Infinity is what it would be like if you could make money by playing Pokemon. It’s unsurprising that this NFT games phenomenon grabbed the Philippines by storm in late 2020. You can install the Pokemon game on your Android and iOS by clicking here.

To begin, you must purchase three lovely Axie monsters and combat other Axie teams in order to earn Smooth Love Potions (SLP), which may then be converted to cash. Additionally, you may sell and trade Axies and other in-game products to boost your profits or improve your Axies squad, which results in increased SLPs.

Regrettably, the price of a single Axie has risen to PHP 15,000 as a result of the game’s popularity. If you lack that kind of financial means, you may apply for an Axie Infinity Scholarship. This entails an existing player giving you three Axies in exchange for six to eight hours of playing time every day. You’ll need to agree with your sponsor on a 50-50, 70-30, or 80-20 share of your revenues.

CryptoBlades 

Available in Windows and Android 

CryptoBlades is another game that you may test simply by playing it on your browser. It’s a roll-based combat game in which the objective is to acquire SKILL points for every battle via the acquisition and trade of weapons and goods. The more SKILL points you accumulate, the more cash you can withdraw. If you’re the most casual of gamers, CryptoBlades’ laid-back style may be ideal for you.

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Importance of Cryptocurrency in Axie Infinity Video Games

Axie Infinity is a cryptocurrency-based game that allows players to purchase Axies to breed them and trade them for profit.

Axie Infinity game is the most trending NFTs game built on Blockchain, and the game is taking over the internet; why? Because many people are playing the game and are earning big in cryptocurrency and exchanging it for real money. 

Axie Infinity was trading at $4.45 on June 15, and on July 15, the trading when so high to $28.61; what a growth! The developer built the game on the Ethereum Blockchain, and in recent times cryptocurrency has been the hit of the globe.

Axie Infinity took the NFTs gaming method away from the traditional gaming pattern, bringing cryptocurrency into the flow. Unlike the traditional game where the developer solely controls and manages all the characters and the game’s assets, in the Axie infinity game, the player will create their wallet and purchase Axies and breed them for battle. Meanwhile, the Axies are sellable at the Marketplace for the Axie Infinity. 

Also, the player can farm SLPs, trade for cryptocurrency, and exchange it for your currency.

There are so many opportunities to play the Axie Infinity game. there are so many benefits to the Axie Infinity game  Looking at the speed at which cryptocurrency is growing around in our days, you will agree with me that the Axie Infinity game is the right choice to consider when it comes to investment.

When a player earns in cryptocurrency and converts it to real money, that will be huge. Cryptocurrency has positively affected the rapid growth of the Axie Infinity Game. Axie Infinity game also opened people’s eyes to the wonders of cryptocurrency. 

Cryptocurrency prices fluctuate; this can discourage anyone from investing in the game; there is also a tendency for the cost to go high. When you earn your cryptocurrency reward and exchange it for real-world money, that will be huge. Cryptocurrency is the only designated currency spent in the Axie Infinity game from the earning process.

The totality of Axie Infinity is mainly to breed, raise and battle other pets called Axies. Only two unique cryptocurrencies are helpful in this Crypto-based game in the Axie Infinity. Axie Infinity is an NFTS-based game, and the technology built for the system is a Blockchain that has given Infinity game a cutting edge over other video games.

Sky Marvis created the Infinity game mainly on the NFTs component, and without purchasing the Axies, you can’t play the game.  The beginner must firstly buy 3 Axies in other to raise and breed a team.

One of the tokens required in Axie Infinity is AXS or Axis Infinity Shard, and this token is the governance token in the world of the Axie Infinity game.

Axie Infinity made AXS token as the purchase fee of breeding Axies. Also, it gives the player a chance and right to vote regarding the game’s development later on. The player can also stake the coin to earn profit.  

Cryptocurrency has taken over the Axie Infinity game’s affairs, which has given the game a leeway over other video games. Axie Infinity’s primary aim is to bring fun to people through the avenue of Blockchain.

Cryptocurrency has become a quick way of getting richer. Though it has so many disadvantages, the chances to make a massive return on your investment are high. You can read about How Does Bitcoin Work? by visiting https://wonderopolis.org/wonder/how-does-bitcoin-work

The Cryptocurrencies in the Axie Infinity game  

Two major cryptocurrencies are recognized in the Axie Infinity game: AXS and SLP. We’ll discuss these two Cryptocurrencies and the reward player gets from them.

  • Axie Infinity Shard [AXS] is the primary token in the Axie Infinity NFTs game.

This coin is the governing token that permits the player in the Axie Infinity game to vote and determine the future of the games. Like any other currencies, e.g., Dogecoin and Bitcoin, AXS can be traded. 

Before a player can play and earn, he must firstly breed new Axies, which will cost him the two cryptocurrencies. 

The amount of AXS and SLP needed for breeding new Axie is contingent on the breeding count of the parent Axies. Let’s check the other cryptocurrency. Click here to read about A platform war breeding amongst NFT games.

  • Smooth Love Potion [SLP]

The ERC-20 token is the reward from Axie Infinity. This token is a cryptocurrency that the player can buy and sell at the crypto exchange market. This token is the primary income for the players in Axie Infinity games.

The player must complete the daily mission and battle with an opponent in the Arena or Adventure mode to earn this token. The supply of SLPs is limitless because every player must get them. Player uses SLP to breed their new Axies and then sell them. Once breeding is complete, the token will burn this token entirely. Tokens will be given to the player as a reward when the player gets to a new level in the game and wins battles. 

In Axie Infinity, players may decide to sum up the SLPs token and exchange it for real money like other cryptocurrencies.  The player may choose to breed more Axies, requiring more SLP tokens. Binance crypto exchange is an excellent place to purchase more SLPs. Anyone who fights and defeats some unique monster at some level will get some SLPs.   

There is a decentralized exchange platform where you can trade your SLPs like other cryptocurrencies, and that place is called Katana. Players can claim their SLPs every 14 days. In Axie Infinity, there is a limit to the amount of SLPs you can get. These tokens are also a cryptocurrency, and the player can convert the token like other Crypto for real-world money. 

Whatever is happening to the cryptocurrency market at the exchange time will also tell your transaction. If the price goes up, you will earn big, and if it goes down, it will affect you as well.

Conclusion

 I want you to know that there are many benefits enshrined in the Axie Infinity NFTs game beyond playing the game. I hope I’ve passed this vital information to you and helped you understand how it works.

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