The rise of blockchain games in the Philippines in 2024- What exactly are blockchain games?
Mobile gaming dominates the digital landscape, with more than 14.4 billion downloads across major platforms. The integration of game monetization, freemium models, and advergames has elevated mobile gaming into a lucrative niche in technology.
Traditional in-game purchases provide limited ownership, essentially granting access rather than possession. Blockchain technology revolutionizes this dynamic, giving users true ownership, a secure trading platform for in-game currencies, and decentralized storage of digital assets.
Demystifying blockchain in games
Blockchain is a decentralized ledger that securely records transactions without the need for third-party service providers, thereby eliminating high fees. The blockchain gaming market is worth $4.9 billion in 2022 and is expected to surge to $818.5 billion by 2032, growing at a CAGR of 66.5%.
Blockchain enhances gaming functionality in the following ways:
Cryptocurrencies in Games: Cryptocurrencies are used by an estimated 41.9 million gamers and facilitate secure, verifiable transactions. In crypto games, players use cryptocurrency to make in-game purchases, including props, characters, clothing, etc.
NFTs in Gaming: NFTs (non-fungible tokens) are cryptoassets that provide immutable proof of ownership on the blockchain. In NFT-based games, players can own, manage and trade digital assets such as images, music, skins and cards.
Play-to-Earn and Pay-to-Earn models:
Blockchain introduces crypto games or Play-to-Earn games where players can earn cryptocurrencies and convert them into real-world goods and services. In contrast, payment models in NFT-based games require strategic in-game purchases whose value increases over time.
Virtual events and tournaments:
Blockchain simplifies the management of virtual gaming events and tournaments, ensuring seamless tracking of registrations and rewards. It also supports the implementation of blockchain-powered payment gateways for secure transactions.
GameFi:
GameFi combines games with decentralized finance (DeFi), allowing players to make money through games and use the earnings to purchase real-world goods and services.
The impact of blockchain on the gaming industry Blockchain redefines gaming in the following ways:
Enhanced in-game transactions:
Cryptocurrency transactions simplify in-platform payments by providing a reliable, secure and efficient alternative to traditional payment methods.
Protect the gaming environment:
Crypto token transactions on blockchain networks are secure and resistant to common hacking techniques, including DDoS attacks.
Facilitate in-game asset transactions:
Through blockchain, players can securely buy and sell in-game assets, and cryptographic tokens can add value and security to games.
Enable interoperable player profiles:
Blockchain allows for interoperability across games, allowing players to transfer in-game resources and maintain brand loyalty.
Guarantee the true ownership of in-game assets:
Blockchain-based games ensure the true ownership of in-game assets through smart contracts, and transactions will only be executed when predetermined conditions are met.
Facilitate collaboration between players and developers:
Blockchain’s community-driven decision-making enables players to participate in game development, thereby enhancing the user experience and playability of the game.
Top Blockchain Games in 2023
As the industry develops, many blockchain-based games are gaining traction, marking a new era of gaming in which players are not only consumers but also active stakeholders.
Mark helps you choose five safe games with high winning rates
1.HACKSAW GAMES
- Game interface: The game has rich graphics and first-class visual senses
- Game features: Slot machine games are integrated into blockchain games to show special features
- Date of establishment: 2018
- Why recommended: Heavy slot machine players who want to get started with blockchain games can choose this game. After the overall test, the winning rate is high, and the game and viewing are very good.
- Difficulty level: Very easy, you can understand the gameplay and progress in 5 minutes
2.T1GAME
- Game interface: The game screen is more colorful, mainly Q-version animals
- Game features: More suitable for younger players, the game has a deeper feeling
- Date of establishment: 2009
- Why recommended: A game that many young Filipino friends love to play. The Q-version animation presentation caught my eye. There is no cash online game feel. It is suitable for killing time.
- Difficulty level: Easy, you can understand the gameplay and progress in 5 to 10 minutes
3. The Sandbox Game
Game interface: The game is presented in the form of NFT digital, and the feeling of blockchain games is deeper.
Game features: There are a variety of game modes and rich theme projects
Date of establishment: 2012
Why recommended: Single-player and multi-player games are available, the chain game mode of the metaverse, and NFT and virtual world game elements are high.
Difficulty level: It takes time to understand, but you can play for a long time and make money while playing.
4.Bitamescoin Games
Game interface: The game is presented as a simple slot machine game, a simpler game with fewer lines
Game features: There are many types of Bitcoin slot machine games, and virtual currency recharge is easy
Date of establishment: 2016
Why recommended: The game types are the same as real money casinos, easier to understand and get started.
Difficulty level: Easy, but it takes a little more money and time to get the big prize
5.MEGA DICE Sports Betting
Game interface: Ball sports are the main focus, and basic ball games have game conditions.
Game Features: There are fewer websites that allow virtual currency to bet on sports events, and there are no fewer events than real money gaming websites.
Date of establishment: 2020
Why recommended: Provides on-chain virtual currency that can be recharged, and you can play without converting currencies.
Difficulty level: Needs to understand sports events, and players who place more bets on sports betting
Benefits of using cryptocurrency gaming?
Enhanced security and anonymity
In the digital age, protecting data is crucial. Traditional systems often expose consumers to risks such as data breaches and identity theft. Cryptocurrency trading stands out by offering a completely different approach to security. Every transaction between parties is a unique event, ensuring protection against common vulnerabilities. The underlying blockchain technology protects these transactions through encryption and complex mathematical problems, thereby significantly reducing the risk of hacking and stealing personal information. In addition, using pseudonyms that are not directly associated with any user account can provide participants with additional anonymity and security.
inflation protection
Cryptocurrencies are also considered a potential inflation hedge. Traditional currencies may lose value over time due to factors such as increases in the money supply. In contrast, the supply of many cryptocurrencies is capped and governed by their underlying protocols. This limited supply mechanism can make cryptocurrencies less susceptible to losses in purchasing power, providing investors with protection against the possible erosion of currency value caused by inflation.
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