Blockchain gaming will bring money & masses both to crypto

Gaming is the most preferred entertainment these days. From children to adults- everybody likes to play games. According to statista website, there are around 3.24 billion people who play games. They can be mobile games, pc games, console games etc. The majority of games are free to play. 

Companies that provide free-to-play games, earn their revenue by targeting ads to customers. So, whether a game is free to play or paid, somehow companies are generating revenues and these revenues are huge. According to Accenture's report gaming companies are earning more than 300 billion dollars in revenue; companies are earning in billions from players. 

But, what if I told you that most of the revenue which is earned by companies can be given back to the players? 

Yes! You read it right- most of the money which is spent by players can be distributed back to players who are performing well in games and a very little share of revenue earned will go back to gaming protocol. Also, players can decide the future of the game.

In blockchain gaming, there are many gaming projects which follow the play-to-earn model and also allow their community to vote on governance proposals for shaping the future of games. One of the famous examples of these types of gaming projects is 'Axie Infinity'.

Games like Axie Infinity can change the view of how people see games and how people can choose gaming as a career path to earn money while doing what they like. 

Now, I will tell you about Axie Infinity so you can know how games like Axie infinity which follow the play-to-earn business model can be used by players to earn money while having fun alongside.

                                                          Axie Infinity

Axie Infinity is an NFT based online video game that is inspired by pokemon. Axie Infinity runs on the Ethereum blockchain and has two cryptocurrency tokens associated with it i.e  Axie(AXS) which is a governance token that can be used by holders of tokens to vote on governance protocols to decide the future of the game. Axie holders can stake their tokens to earn more Axie tokens. 

The second cryptocurrency token associated with Axie Infinity is the Smooth love potion (SLP). Players here raise, breed and battle their axies (digital creatures) and after each victory in game, they earn a Smooth love potion as a reward. These SLP tokens you can sell on Exchanges for the money.

Axies (digital creatures) and digital land in the game are NFTs that can be bought and sold by individuals in the game.

This is happening first time in the gaming industry that players can earn real money by playing and can also decide the future of the game- as they can decide the roadmap of the game to be followed which they find to be better. No wonder these games are able to attract the masses!

In earlier games, players' voices were never heard or heeded so much. Players spent money on games but they were never able to generate income from it.

As stated earlier, these blockchain games not only benefit the gaming community, but these games themselves also generate huge revenue at the same time. It's a win-win for both gaming protocol and the community.

After Ethereum, Axie Infinity is the second most revenue-generating protocol in the crypto ecosystem. According to Token Terminal, in the last 180 days, Axie infinity has generated 820 million dollars in revenue.

Conclusion

Games like Axie Infinity are attracting masses to crypto by having unique business models like play-to-earn, also players get the feeling of ownership as they can decide what will be the future of their game. At the same time, they are also generating a huge amount of revenue for themselves.

So, it's a win-win for both the gaming protocol and the community. These features of blockchain gaming will give a huge boost to the cryptocurrency ecosystem and will play a major part in the success of the ecosystem.