1. Home
  2. gaming

gaming

Gamefi Project Oasys Aims to Grow Blockchain Gaming in Japan Through YGG Partnership

Gamefi Project Oasys Aims to Grow Blockchain Gaming in Japan Through YGG PartnershipOasys, a gaming-oriented, Japan-based Web3 project, is partnering with YGG, a blockchain gaming guild, to grow blockchain gaming in Japan. The partnership encompasses the use of YGG resources to promote gaming projects built on top of the Oasys ecosystem, giving developers from all over the world an opportunity to get into Japan’s gaming market. Oasys […]

Wolf Capital co-founder pleads guilty to $9.4M Ponzi, promised 547% returns

90% of GameFi projects are ruining the industry’s reputation

Too many projects are releasing over-hyped trailers that they can’t match with gameplay.

The GameFi industry is set to unleash its massive potential within the next six years. According to Absolute Reports data, its estimated value will grow to $2.8 billion by 2028, with a compound annual growth rate of 20.4% in the same period.

It’s a quieter and perhaps less scandalous branch compared to the more newsworthy centralized finance (CeFi) and decentralized finance (DeFi) spaces, but this hasn’t impacted its force nor its promise. Even in the depth of a bear market, crypto gaming has proven to be the most resilient compared to other market sectors. 

However, there is a problem with the GameFi industry: The difference in quality between teaser trailers and delivered products is often stark enough to get under the skin of the eager gamers who put their faith in them. As that becomes the case with more and more titles, the entire industry suffers.

The more that customers’ expectations are unmet and disappointed, the further mass adoption slips further from our reach. Developers must work on what they can actually build, not overpromise and underdeliver. And, we just don’t see that as often as we should.

This pain point is not insignificant. Gaming doesn’t exist in a bubble, but rather it’s increasingly a convergence point where Web2 and Web3 meet and develop innovative ways to integrate one reality with the other. The likes of Animoca Brands went as far as saying that “the gaming industry is closer to a metaverse than any other” and “GameFi could become an onboarding point for metaverse and introduce people to digital ownership.”

Related: Japan is losing its place as the world's gaming capital because of crypto hostility

Well, since GameFi plays such an important role in the advent of Web3, is it too much to ask that it starts protecting its reputation?

The play-to-earn nonfungible token (NFT) game industry is still a relatively nascent one, with no doubt that the future of blockchain-based games holds many exciting AAA titles, but from today’s standpoint, all we see is visually stunning, overdone and inflated teasers that developers just seem to not be able to build.

In theory, it should not be such an uphill battle. At Murasaki of BCG studio, developers have been working on more than 30 mobile game titles, but they always know roughly how long and how much it takes to build each one. It’s not rocket science: if something like Genshin Impact costs $200m to produce and took over two years to build, how can you say you’re working on an AAA title with only $4 million or even $50 million and it’s going to be ready within a few months? It’s just unrealistic.

The standard development and release schedule is the same for everyone: publish a white paper with a clear blueprint of the work developers are setting out to do, release a teaser trailer to ramp up the excitement, raise funds by selling NFTs and tokens for development and, finally, start developing. Somehow, for 90% of GameFi projects, something happens between the trailer release and the development phase that causes games to look amateur-ish and disappointing.

I’m not the only one criticizing Pixelmon and its somewhat depressing NFT drop — one user even tweeted, “Thanks @Pixelmon, worst mint of my life!! I’m quitting NFTs.” When comparing the project roadmap, which had promised “the largest and highest quality game the NFT space has ever seen,” to the actual product Pixelmon released, which looked nothing like the slick demo they’d created anticipation with only a few months prior, it’s easy to see why people would be disappointed.

Think of it like this: it’s like selling the ownership of a building by showing a 1/100 scale mock of the building but omitting how long it’s going to take to build and refusing to say how much money you’re willing to spend along the way. Then, when you finally reveal what you’ve been working on, instead of a skyscraper, it’s a shed.

Related: GameFi developers could be facing big fines and hard time

But, how long can that continue before users get too disillusioned with the space as a whole and end up quitting it before it’s had a chance to reach its full potential?

It may sound harsh, but the simple truth is that if you can’t deliver what you promised, you should let others do it. 99% of developers have been overpromising and under-delivering consistently — they’re making the rest of us honest and eager GameFi enthusiasts look bad and risking our industry’s reputation, and for what?

Such projects should get out of the space entirely and give GameFi a chance to redeem itself before users get tired of the charade. The stakes are too high to let them play with the future of GameFi any longer, or the dream of mass adoption will slip further and further from us and never turn into our reality.

Shinnosuke “Shin” Murata is the founder of blockchain games developer Murasaki. He joined Japanese conglomerate Mitsui & Co.in 2014, doing automotive finance and trading in Malaysia, Venezuela and Bolivia. He left Mitsui to join a second-year startup called Jiraffe as the company’s first sales representative and later joined STVV, a Belgian football club, as its chief operating officer and assisted the club with creating a community token. He founded Murasaki in the Netherlands in 2019.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Wolf Capital co-founder pleads guilty to $9.4M Ponzi, promised 547% returns

Traditional firms likely won’t be leading the charge in the next generation of Web3 games — WAX CEO

“I actually think the first big games that have multimillion persistent users daily — those will come from new startup studios," said William Quigley.

Traditional ideas about gaming, coming from both the firms developing the games and the players themselves, could slow down adoption of Web3 games, according to WAX co-founder and CEO William Quigley. 

Speaking to Cointelegraph at a Web Summit panel in Portugal on Nov. 3, Quigley said “trying to build a video game using a blockchain is a pain in the ass,” clarifying that many of the products on the market are based on browsers but utilize in-game digital assets on the blockchain. The WAX CEO added that nonfungible tokens, or NFTs, had given independent developers an edge in gaming, allowing them to conduct presales and raise needed funds.

“For the most part, the people who are building [blockchain-based games] today are independent game developers,” said Quigley. “Big, triple-A title video game companies haven’t yet embraced it, and probably for good reason — they’re not sure what the revenue model’s going to be; they’re not sure how it’s going to change their game.”

He added:

“I actually think the first big games that have multimillion persistent users daily — those will come from new startup studios. I doubt they will come from the traditional video game market.”
WAX co-founder and CEO William Quigley speaking at Web Summit

Also on the Web Summit panel, Gamee co-founder and CEO Bozena Rezab said NFT pre-sales may offer some benefits, but held the potential to “trap” developers by putting them in a binding relationship with gamers looking for a certain product. Quigley said that many traditional gamers “cannot stand NFTs” for “pollut[ing] the game play” — something that could slow down companies looking to adopt blockchain-based games.

“The biggest sort of new thing on the horizon that could allow blockchain-based games to take off would be augmented reality, virtual reality,” said Quigley. “When that happens I suspect the principal revenue model for AR, VR games is going to be something like a tradeable item, an NFT or whatever we’ll call it. That, I think, will be the next big bump up in users.”

Related: Blockchain games and metaverse projects raised $1.3B in Q3: DappRadar

As the crypto and blockchain space continues to grow, ​​so too have the number of options available to users interested in having the technology integrated into their favorite games. SupraOracles reported the market capitalization of the 5 most used in-game tokens was roughly $25 billion in February, with the total gaming market predicted to reach more than $583 billion by 2030.

Wolf Capital co-founder pleads guilty to $9.4M Ponzi, promised 547% returns

Decentralized gaming IDs provide another avenue of interoperability in Web3

The Lens Protocol and Laguna Games launched a new gaming ID, which connects users across multiple games.

Nonfungible token (NFT) gaming is getting a face lift. A new collaboration between Laguna Games, a Web3 R&D entertainment developer, and Lens Protocol allows players to connect across multiple gaming experiences.

These new decentralized gaming IDs will allow players to connect their profiles across Crypto Unicorn’s web and mobile NFT gaming platforms.

The Lens integration is binder which takes profiles on its network and connects them with the avatar system behind Crypto Unicorns. This opens up new avenues for logging into games, accessing leaderboards, along with benefits and rewards in the ecosystem.

Aron Beierschmitt, the CEO and co-founder of Laguna Games, says this is a way to unsilo identity systems within gaming franchise ecosystems.

“We will branch off an existing ecosystem to maximize benefit to our player community,” said Beierschmitt.

Lens Protocol founder Stani Kulechov says this integration will benefit users on both platforms as it allows players to, “move seamlessly and securely between platforms using one identity."

Related: NFT games are ‘only scratching the surface’ of what's possible — Animoca’s Yat Siu

In the Web3 world, interoperability is a key component of ever expanding blockchain ecosystems, especially as they fill out with more utilities and applications.

The term interoperability is often heard in the context of maneuvering between blockchain networks. However as Web3 applications multiply, there is a greater need for interoperability in other areas of the space including gaming.

Gaming in the Web3 space has been heralded as a major entrance for mass adoption and as an example of utility for ownership through NFTs.

It is also one of the areas in the space which is receiving attention from investors. According to a DappRadar Q3 report, blockchain games and metaverse projects raised $1.3 billion from July to September of this year.

Recently the Web3 infrastructure firm ChainSafe raised $18.75 million as the company pivots its focus towards GameFi development.

Wolf Capital co-founder pleads guilty to $9.4M Ponzi, promised 547% returns

Xbox Boss Phil Spencer Calls Today’s Metaverse a ‘Poorly Built Video Game’

Xbox Boss Phil Spencer Calls Today’s Metaverse a ‘Poorly Built Video Game’Phil Spencer, CEO of gaming at Microsoft and head of Xbox, directed some criticism at the idea of the metaverse and how it is being executed. Spencer remarked that for him, the current metaverse is a “poorly built video game,” but also that the sector was still in its early stages and will surely evolve. […]

Wolf Capital co-founder pleads guilty to $9.4M Ponzi, promised 547% returns

Japan is losing its place as the world’s gaming capital

From regulation to taxation, Japan has been hostile to cryptocurrency gaming. That stance is threatening the country's position as a global leader in gaming

A marked hostility toward new and emerging Web3 technologies like cryptocurrencies runs the risk of costing Japan its place as the world’s gaming capital. We’re getting dangerously close to the point of no return, and here’s why. 

Nobody can be sure where the country’s antagonism to crypto originated or why it still persists even after the nonfungible token (NFT) and crypto “boom” of 2021, which took off in a major global way and prompted officials in the United States and Europe to backtrack on their initial antipathy for the space, finally opening up to regulations. The White House just released its first crypto regulatory framework in September 2022, and the European Parliament Committee followed up in October 2022 by approving the Markets in Crypto-Assets framework, also known as MiCA, with a landslide vote. As the first European crypto policy, the much-discussed MiCA text represents revolutionary progress in the direction of what many consider the future of the financial world.

Japan, however, has a very different stance.

We all know Japan is home to gaming giants like Nintendo and Sega and has been for decades, with triumphs such as Super Mario, Sonic the Hedgehog, the Sega Mega Drive and the Game Boy. But, in order to remain at the top of its game (pun absolutely intended), the sector needs to be able to consistently and rapidly change with the times, not stay stuck where it was when it first gained recognition. Gaming is a highly creative space and has always had the technology to back its extraordinary potential. But, in order to do so, it does need to be able to stay up to speed with new and evolving innovations, or it will become stagnant and lethargic.

Related: GameFi developers could be facing big fines and hard time

GameFi is an emerging area of interest in the industry with immense potential. But, when you look more closely, there are very few Japanese companies developing the GameFi sector into what it is sure to become within a few years to a decade. And if that doesn’t change soon, the entire industry will be at risk.

The crypto and tech worlds are two of the main stages of exciting and rapidly evolving progress happening in the modern age, and in Japan, they’re being held hostage by crucial elements like taxation and a complicated screening process.

In Japan, there is no ground to account for crypto assets properly, and none of the auditors want to audit crypto assets. Due to strict listing rules drawn up by the Financial Agency, the process of listing a coin in Japan can be confusing and frustrating to a fault. But, when time is money to any entrepreneur with a brilliant idea, waiting six months for a token to be screened is unnecessarily discouraging.

Then, there’s taxation. In Japan, token issuers are taxed on unrealized assets at the end of the fiscal year, regardless of whether they have enough fiat currency to cover high taxes or not. And, while non-crypto stock profits are taxed according to a flat 20% rate, crypto earnings are subject to an exorbitant 55% tax rate, a 35-point difference.

Related: The feds are coming for the metaverse, from Axie Infinity to Bored Apes

As Japan’s reputation falters, other countries will be waiting with open arms to accept its bright minds and fearless entrepreneurs who just can’t understand why their country turned its back on them. Europe is full of investor-friendly nations with rational regulatory systems, like the Netherlands. With the new MiCA legislations as close as they are to being widely implemented, it’s not extreme to wonder if other countries would be better suited to home Japan’s brain drain.

We might indeed be seeing small improvements in the right direction. The government might be inclined to soon ease the current onerous listing rules and allow the country’s $1 trillion crypto trading market to flourish a little more easily, with exchanges able to “list over a dozen coins in one go and without a lengthy screening process.” And since assuming office in 2021, Japan’s Prime Minister Fumio Kishida has prioritized Web3 development as a means to “economic revitalization,” meaning we might witness a marked change in how the country both regulates crypto and supports the Web3 sector’s growth as a whole.

But the clock is ticking, and if only time will tell how Japan’s role in the gaming sector will impact the economy of its future, it’s hard to be overwhelmingly optimistic.

Shinnosuke “Shin” Murata is the founder of blockchain games developer Murasaki.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Wolf Capital co-founder pleads guilty to $9.4M Ponzi, promised 547% returns

‘The social benefits are huge’ — Web3 gaming to shift digital ownership

Immutable co-founder Robbie Ferguson highlights the potential for Web3 gaming to cause a shift in digital property ownership and value sharing.

There is no substitute for experience. Even when an experience can feel regrettable, like getting your brother’s Runescape account banned.

Robbie Ferguson grew up as an avid gamer, accumulating thousands of hours playing his favorite games. One fateful day, he logged into Runescape and set in motion a series of events that would forever change his view on digital ownership and the world of Web3 gaming:

“I logged into my brother’s Runescape account which we shared and went into the wilderness and lost all his Red Dragon Armor. The next day, I felt so bad, I went and bought gold from a gold farm to replace it. The following day, the account was banned.”

The incident left a mark on Ferguson, a software developer who became involved in the blockchain space through his introduction to Bitcoin in 2014. His interest was super-charged in 2015 with the advent of Ethereum and the potential of the ecosystem.

Ferguson’s Runescape banning incident provided the impetus for his move into blockchain gaming development, having been left frustrated by what he described as the “arbitrary impunity” in which gaming economies and assets were governed by mainstream companies.

Speaking to Cointelegraph during the Token2049 conference in Singapore in September 2022, Ferguson unpacked how he, his brother James and Alex Connolly went on to co-found blockchain technology firm Immutable in 2018 after their first attempts to build a decentralized game.

Robbie Ferguson presenting at the Asia Blockchain Gaming Alliance summit during Token2049 week in Singapore.

Ether Bots, their first attempt at an Ethereum-powered game, taught the trio what should go on-chain versus off-chain and laid the foundation for what would become an infrastructure platform for building Web3-based games and nonfungible token (NFT) functionality. Furthermore, Ferguson was intent on disrupting the status quo of digital ownership of in-game assets:

“The reason we started with games is because they’re by far the most exciting use case for NFTs. There’s $110 billion spent every year on digital property that people have zero rights to and it’s a complete scam.”

With lessons learned from their first foray, the successful launch of blockchain-powered play-to-earn tactical card game Gods Unchained played an integral role in establishing Immutable, a platform for blockchain development firms to build Web3 games with NFT integration.

Understanding the solution

Immutable consists of two separate but intrinsically linked segments. ImmutableX is the company’s Ethereum layer-2 NFT scaling platform, while Immutable Studios is the gaming development arm of the firm.

Ferguson maintains that ImmutableX, the Ethereum-based layer-2 solution NFT platform, took invaluable lessons from the development of Gods Unchained, which shaped the functionality of the infrastructure upon which other blockchain games are now being built:

“There’s been a lot of gaming platforms built out there that don’t actually understand the needs of games, from a tech perspective, from a services perspective and from a user experience perspective.”

The launch of Gods Unchained saw 50 million NFTs minted in its first week, which then led to a price surge due to high gas fees in the Ethereum ecosystem. This highlighted a major need to scale and reduce minting costs in order to make a Web3 NFT-packed game viable for any company, as Ferguson explained:

“If this is gonna go at scale we need to make this stuff zero cost to create. If you take a single medium-sized game with 100 million players, if every one of them is trading just once or twice per day, you have a cost basis of tens of millions of dollars per week to that company.”

ImmutableX is focused on making everyday in-game items tradable in low-cost bands. Ferguson used Gods Unchained as an example again, with trading cards only down around 10% from market highs because “people trade cards to use in the game, not because the price of Ethereum is $1,200 or $4,000.”

While high-value NFTs will always form part of an in-game marketplace, usability should drive in-game economies, according to Ferguson. This then leads to the question of profitability and how Immutable is able to offer free minting of NFTs, which is touted on its website.

Immutable facilitates this by paying for all the costs of NFT minting using zero-knowledge (ZK) rolls ups, providing economies of scale that allow billions of transactions to be bundled for a “reasonable cost.” That is still an eight-figure dollar sum for Immutable, but Ferguson highlighted the caveat:

“We get to make it so anyone can create these assets for free via incredibly valuable economies and instead be monetized by taking small clips on every trade, which means we have the exact same incentive as games and users do, which is to maximize volume.”

Giving back to the Ethereum network

Immutable’s efforts to solve the scalability of NFT minting to power blockchain-based games owe its thanks to Starkware, the Ethereum layer-2 platform that pioneered zk-STARK proof technology.

The technology also allows Immutable to lay claim to being carbon neutral, with Ferguson touting the ability to mint 600,000 NFTs in a single proof that only takes up a fraction of a block in the Ethereum network.

Nevertheless, zk-Rollups and Ethereum’s Merge have laid an important platform in allowing infrastructure providers like Immutable to build for an increasing number of Web3-based games in the future:

“We’re barely at a fraction of a percent of the scale of transactions per second that NFTs will eventually take. If we’re looking at transforming gaming, with billions of gamers worldwide, even then trading a few assets every day is going to radically increase the demand for the stack.”

According to Ferguson, Immutable also played a role in developing batched minting and deferred minting, two common NFT scaling paradigms used today by the likes of NFT marketplaces like OpenSea to Nifty Gateway.

Why blockchain?

Blockchain purists have often questioned whether some industries need to use the technology to improve existing systems. Ferguson considered this question carefully, highlighting his belief that digital users deserve to have rights to the items and assets they acquire in any digital environment:

“The mission should be to create a better game, which under the hood uses Web3, so that people have a better experience and have digital property rights. It’s this lie that has been sold to consumers for the past three decades that just because something is intangible, you should have zero rights to it.”

Ferguson believes that the success of the sector is already playing out, highlighting more than $9 billion worth of investments into Web3 gaming over the past 18 months. This, in turn, is set to create a shift in equity sharing:

“The social benefits are huge. We’re democratizing access to economies with people building assets in-game and the ability for anyone to create content for games, Web3 can now empower those people to monetize much better.”

While Web3 may put ownership in the hands of users, that does not mean that mainstream AAA companies are not keeping tabs on the burgeoning sector. As Ferguson explained, these firms will look to position themselves ahead of the disruptive technology if Web3 games become a new standard that is in demand.

Immutable, meanwhile, continues to grow. The Australian-based blockchain technology company employs over 300 people and has raised over $300 million from investors including Coinbase, Tencent, Galaxy Digital and Animoca Brands.

Wolf Capital co-founder pleads guilty to $9.4M Ponzi, promised 547% returns

Web3 infrastructure firm ChainSafe raises $18.75M as attention shifts to GameFi

The Canadian company is focused on multi-chain R&D and blockchain gaming, which is a growing industry that’s expected to achieve multi-billion-dollar valuations.

Canadian Web3 infrastructure company ChainSafe has closed an $18.75 million funding round that was backed by prominent industry venture firms, putting the company on track to expand operations at a time when demand for blockchain infrastructure and gaming services was on the rise.

The Series A round was led by venture firm Round13 with additional participation from NGC Ventures, HashKey Capital, Sfermion, Jsquare, ConsenSys, Digital Finance Group and Fenbushi Capital. ChainSafe said the funding would go toward supporting the growth and adoption of Web3 technology.

ChainSafe’s founding team met at an Ethereum meetup in Toronto in 2017. Later that year, ChainSafe was founded as a blockchain research and development firm. The company mainly focuses on multi-chain R&D and other Web3 umbrella technologies and has developed a software development kit connecting games built on the Unity platform to the blockchain.

Following the launch of CryptoKitties in 2017, the marriage between gaming and blockchain technology has only grown stronger. As reported by Cointelegraph, the market capitalization of blockchain games was around $25 billion at the start of 2022. While crypto market capitalization has declined markedly over the past six months, which has impacted the blockchain gaming sector, venture capital continues to invest heavily in the space. According to DappRadar, blockchain games and metaverse projects raised $1.3 billion in venture financing in the third quarter alone.

Related: Japanese gaming giant’s hiring spree ahead of NFT marketplace

While estimates vary, blockchain gaming, or GameFi as it is often called, could see high multi-billion-dollar valuations in the coming years. Those close to the industry say that blockchain games will benefit from the roughly 1 billion online gaming streamers expected by 2025.

Wolf Capital co-founder pleads guilty to $9.4M Ponzi, promised 547% returns

Blockchain gaming adoption means more options for gamers

Blockchain games are cropping up across various genres, giving games options for what they can play.

Over the past couple of years, games that use blockchain technology have increased their presence in the gaming industry.

While there were early examples like CryptoKitties — launched in 2017 — the trend has truly gained steam, with major gaming studios even exploring the technology.

At the beginning of 2022, the market capitalization of blockchain games was around $25 billion and it doesn’t seem to be decreasing anytime soon, even in the depths of a bear market. According to the analytical service DappRadar, the two most stable areas this year in the cryptocurrency market are blockchain games and nonfungible tokens (NFT), which have recently become very tightly intertwined, creating a new economic phenomenon.

A striking example here is the well-known game Axie Infinity, the token price of which rose above $150 last fall, providing the project with a capitalization exceeding $9 billion. During the same period, the daily audience of the game was approaching 2 million people.

In December 2021, when Bitcoin (BTC) began to fall from its record highs, the Axie Infinity (AXS) token also began to sink, but the Axie Infinity audience grew to almost 3 million people a day, and the transaction activity in its network increased four times.

There are objective reasons for such dynamics. Firstly, most blockchain games use browsers and the creators use HTML5 and WebGL technologies, which have radically expanded the possibilities for developing browser games. Such games repopulated browsers and, at the same time, provided the ability to connect crypto wallets and withdraw NFTs to external marketplaces without any regulatory restriction.

Secondly, blockchain games have no competition as such, as the traditional PC game industry still refers to the blockchain as an incomprehensible or even “toxic” space. This gives small studios, which are not yet able to create large gaming franchises, a huge head start on development. The ability to quickly launch the in-game economy allows developers to immediately fund the continued development of their game worlds without getting into debt and without inflating working capital.

Finally, blockchain games are mostly about income because in blockchain-based games players can earn money just by playing. For completing tasks and spending time in the game, users receive tokens that can then be invested or converted into real money.

What genre to choose

Just like classic PC games, blockchain games cater to all tastes. They have a number of common features: They work from a browser or a mobile app, have simple controls and have a user-friendly interface that even a beginner can handle.

Blockchain games relate to different genres, while they all have one common feature: They are developed by using smart contracts. That is, they provide an opportunity to receive valuable virtual assets. Therefore, all games, no matter what visual component or story they have, are all play-to-earn (P2E) games. Genres of such games include actions, strategy, online multiplayer arenas, sandboxes and more, but it is possible to define the most popular.

Massive multiplayer online role-playing games (MMORPGs) usually have a dynamic reward system where players get tokens by completing in-game tasks. Tokens are used to upgrade characters in order to gain an advantage over opponents in the form of a fortified arsenal or the development of character abilities. The most popular games in this genre are CryptoBlades, My Crypto Heroes and, of course, Axie Infinity.

If pocket monsters and endless battles seem boring, gamers can pay attention to collectible card games. Such games use the NFT system so that the digital cards look like real collectibles. Players need to strategically outplay their opponents by building decks to counter different tactics, and cards can be bought, sold or traded — just like real cards. Some of the most popular card games are Splinterlands, Gods Unchained and Sorare.

Another interesting genre is “x-to-earn,” that is, to do something to earn income and not necessarily just “play” the game. The concept of “X-to-earn” was first proposed by Ben Schecter, head of operations at RabbitHole — a platform that rewards users for learning about crypto. In this equation, “X” can be any daily activity like eating, exercising, sleeping, shopping or studying. “To earn” is the financial profit received as a result of performing these specific actions.

In blockchain games, the concept of “x-to-earn” was developed primarily in the form of move-to-earn, with the example of the famous STEPN game that rewards users for playing sports or exercising. In the English learning game Let Me Speak, the main way to earn money is to buy NFT avatars and start learning English in the app. Every few minutes, players are instantly rewarded with tokens for their progress.

The most ambitious and large-scale projects are AAA games, or games developed by a major publisher, which require a lot of time, a lot of resources and a lot of money to develop. Such games are designed not only to attract players with the opportunity to earn money but simply to enjoy the gameplay. The combination of real AAA gameplay and stunning graphics sets them apart from the rest. The best example of a AAA game right now is Illuvium, which has been in development since 2020 and was released this year. The Illuvium “ILV” token is currently trading at around $60, according to CoinMarketCap, with a market capitalization of $560 million.

Related: Is Illuvium the first fun crypto RPG video game?

Lesley Fung, a content operation specialist from Footprint Analytics, believes that AAA games are the future of GameFi:

“Some of the AAA Games combine the experienced team with delicate production. The teams behind these projects have a record of success in both blockchain and gaming, and the resources to potentially make a AAA title work. The narrative in GameFi is that current games lack quality and have unsustainable tokenomics. However, once AAA games come out, these will bring GameFi to the masses after the bear market, solving much of the current problems.”

According to Footprint Analytics, which is engaged in discovering and visualizing blockchain data, the most popular blockchain game genre for the first nine months of 2022 was card games such as Splinterland, leaving x-to-earn and AAA games behind.

So, the gaming space is replete with various blockchain games for any taste. Here we chose some unique games from each genre.

Nine Chronicles

Nine Chronicles is an Idle MMORPG developed by Planetarium in partnership with Ubisoft. The client works on the Unity engine, and the backend is completely on the blockchain. 

Robert Hoogendoorn, head of content at DappRadar, told Cointelegraph:

“When we’re talking about gameplay, it’s difficult to really point one out. However, on a technological level Nine Chronicles is very unique. While most blockchain games rely on existing blockchain ecosystems like Ethereum, Polygon or BNB Chain, Nine Chronicles runs on its own custom blockchain.” 

Furthermore, the entire set of game rules exists on the blockchain, making it impossible for gamers to cheat. Each player can manage a node, participating in the maintenance of the network. Therefore, updating the game also requires all users to update their nodes.

The game focuses on crafting and in order to develop a character, the player has to constantly loot in player-versus-environment (PvE) and craft more powerful equipment.

Armor inventory in Nine Chronicles.

All fights are resolved automatically, with victory determined by the level of a player’s equipment, its element and randomness in hits. Using the same equipment, the player can both win and lose.

In March 2022, the developers made a global change in the gameplay, wherein equipment level restrictions were introduced.

Solitaire Blitz

In the genre of card games, the fantasy game Splinterlands is now very popular. But, what if a gamer wants to play an old-fashioned card game on the blockchain? 

One of the most widely played card games of all time was the classic Solitaire, a game that can be played by people everywhere and of almost any age. Perhaps that is why the developers of Solitaire Blitz took the game as a basis for their project, which now enjoys a considerable number of active players. It is the standard Solitaire card game built on the Flow blockchain. The game has seamless and fairly simple gameplay that makes it attractive.

Screenshot of Solitaire Blitz.

In Solitaire Blitz, a player competes with opponent players who have similar ranks. The player with the most points wins the game. With a unique algorithm, the skill-based matchmaking system ensures fair competition. Solitaire Blitz is a mobile game and can be downloaded from Google Play or the iOS App Store.

XCAD Network

When thinking of the x-to-earn genre, the first image that comes to mind is move-to-earn games, but this genre is not limited to movements. One of the most intuitive variations of x-to-earn is watch-to-earn, a model that allows players to earn tokens by watching videos.

At the moment, the watch-to-earn industry is run by the XCAD Network project, not a game but a platform that allows YouTube content creators to make fan tokens and release NFTs, thus opening up new sources of monetization and ways to attract fans. As for the fans themselves, they earn fan tokens for watching the content of their favorite bloggers.

XCAD Network differs from other x-to-earn projects in that the amount of reward directly correlates with user activity. The total number of subscribers of all bloggers working with XCAD Network is already more than 260 million.

Another unique feature of the project is that on the XCAD Network, users do not need to watch what the platform offers them. Instead, they simply install the XCAD plugin and watch the same videos as before. And, since the platform is built on the Zilliqa blockchain, users do not face any minimum withdrawal amounts.

MIR4

MIR4 is a AAA game that appeared on the crypto game market in August 2021 and became successful both on mobile platforms and Steam, the largest online store for computer games.

The most important distinguishing feature of the game is partial automation. Auto-battles, auto-collection of game resources and auto-completion of tasks will partly replace manual gameplay, which is suitable for players who do not have enough time.

The storyline continues The Legend of MIR3 PC game, which was closed back in February 2012. The player takes on the role of an archmage’s apprentice guarding the princess, and the main attraction of the game is to upgrade everything, mining hundreds of components and resources.

The interface of the game is quite pleasing to the eye and the game world is huge. The game store has a great selection of items, including leveling boosters, currency, scrolls, power-up stones and others.

As a mobile game, MIR4 is quite beautiful. Of course, for a player who is not used to such projects, it seems that the screen is too loaded with information and inscriptions, but everything is done compactly. Models of characters and monsters are well-detailed.

Interestingly enough, the developers officially allow four windows to be played: one on Steam, two on the official game client and one on a phone. It is worth noting that the Steam version, according to the terms of the platform, is not tied to cryptocurrency and money withdrawal.

The controls are better on the PC version, but the graphics are much nicer on mobile.

PC screenshot of a fight between the author’s character and a monster.

In terms of earning real money in the game, the game is filled with “dark steel,” a resource that after level 40, can be exchanged for DRACO tokens. This metal is required for crafting and upgrades. The rate varies but roughly corresponds to the value of 100 thousand dark steel for 1 DRACO. The tokens can be converted into fiat currency and transferred to a bank card.

Trading on the in-game market also starts at level 40. Goods and resources are sold for gold coins, which can later be exchanged for dark steel and converted into DRACO.

MIR4 has good graphics, animation, special effects, dynamic battles and beautiful characters. It attracts with the cross-platform, automation, branching development system and a lot of tasks.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. 

Wolf Capital co-founder pleads guilty to $9.4M Ponzi, promised 547% returns