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Blockchain gaming: how are games using tokens?

The biggest and most revolutionary of blockchain’s advantages is to completely change the way we handle the power of the information we generate and how to get the best results from it. Blockchain gaming is a great example.

Who could have imagined a few years ago that millions of people would be on blockchain-based platforms voting for game changers, trading, and making money?

We still live a centralized economy in many sectors, but in online gaming, the migration to monetizable and collaborative environments is visible.

Playing online, earning cryptocurrencies from performance, and still making profits from NFT trading sounds like an ideal scenario, but you need to understand the risks inherent in this investment.

How to deal with such a dynamic environment? Are there risks in NFT games?

BLOCKBR, a web 3.0 native company, will talk about how blockchain games work for you to have fun and win double, in the arena and in your pocket!

WHAT IS BLOCKCHAIN?

Blockchain is the digital ecosystem where all the decentralized applications that are created to transform business models are founded. Within it is the technology that made the creation of cryptocurrencies possible, bitcoin being the pioneer.

Decentralization is the cornerstone of the revolution brought about by blockchain – the possibility of doing peer-to-peer business, directly between sellers and consumers, without public and private intermediaries imposing regulations, limitations, and costs.

HOW BLOCKCHAIN WORKS

Technically, the block network is a distributed database. There is not one central server, as is the case in enterprises, but an untold number of supercomputers that function as independent servers.

  • When a transaction is executed – for example, buying a receivables token – all supercomputers, without exception, must validate it;
  • Once executed, it is encrypted, given a unique identification(hash), connected to the transaction hash, and inserted into a data block, forming an encrypted ledger;
  • Security is also ensured by high-level encryption and network data protection protocols;
  • There is no risk of fraud, because you would need to corrupt on every computer to generate the logic that would validate the fraud.

Do you want to know more about what utility tokens are? Understand everything you need!

HOW BLOCKCHAIN GAMING WORKS

The tokenization of games – the use of blockchain to create encrypted gaming platforms – is the use of the disruptive technology, decentralization, and operating logic we showed earlier.

In practice, there is no central server of a developer company that controls the menu and availability of resources, the granting and revoking of privileges or even taking the game offline.

The fact that it is a distributed game guarantees its operation with the operation of the supercomputers that make up the network. In addition, it grants users independence – they are free to acquire and create game items – weapons, clothing, and powers, among others.

With decentralization dominating the entire dynamic of these games, decentralized economics naturally emerged inside and outside of them in two forms: earn-to-play games and NFTs.

PLAY-TO-EARN GAMES

Also known as gamecoins, these games are the union of decentralized finance(DeFi) and gaming: the network remunerates players with cryptocurrencies (from the network itself) as they progress through stages or meet goals.

In addition to being able to use the digital currency balance in the development of the game itself and in the creation of tradable items, it is possible to transact the cryptocurrencies on other platforms.

NON FUNGIBLE TOKENS

Non-fungible tokens are well known for million-dollar art transactions, but it is a token that applies to the new gaming reality. These are absolutely unique items, and there is no more fertile place for them to emerge than in a blockchain game.

Players can purchase new items and also produce items in NFT to be traded on NFT marketplaces, on exchanges, and directly between digital wallets.

Exclusivity and uniqueness dictate the value of NFT games, which can be a great source of revenue in the medium and long term.

RISCOS DOS JOGOS COM TOKENS

 

RISKS OF GAMES WITH TOKENS

LOSS OF ATTRACTIVENESS OF THE GAME

In times with so many games on offer with varying levels of features, it is natural that one or another will lose its appeal over time. It is necessary that the user network and the management of the game’s image work strongly in this direction.

It is a relevant financial risk if you have capital invested in gaming NFT and cryptocurrencies, which also depreciate along with the game.

HIGH DEGREE OF SPECULATION

Talking about financial speculation in an online game sounds strange, but there is an economy behind it that moves two highly speculative assets: cryptocurrencies and NFT. Cases of items with large variations in value, bubbles and significant losses are common.

At this point, games in tokens function like the markets for high-risk assets, such as stocks and digital currencies themselves. You have to have fun, but pay close attention to your movements so that the fun doesn’t end in a big loss!

THE GLOBAL TOKEN MARKET

Asset tokenization is becoming an excellent strategy to invest in crypto-assets in a safer way, with transparency and great returns. It is estimated that between 2022 and 2030 this market will grow 24% worldwide.

Brazil is becoming a reference of tokenized asset supply and some signs are the GT Tokenization Central Bank and how more banks are accepting tokenization before a sector resistant to the use of blockchain in the financial market.

It has opportunities for all investor profiles and budget sizes. Currently, asset and rights tokens fall into a few categories:

  • Security tokens: negotiable assets with CVM regulation;
  • Utility Tokens: products and services with exclusive benefits for customers;
  • Real asset tokens: real estate, equipment, collections, and other assets;
  • Financial asset tokens: anticipation of receivables, ideal for generating passive income.

Among the benefits of investing in tokens is the fractionation of the asset, a way to offer the asset in smaller shares and attract small and medium investors.

HOW TO START INVESTING IN TOKENS

If you want to enjoy excellent token games with less concern for risk, the tokenization market is the way to go, with its various modes and offerings.

Simply open an account on a token selling platformsuch as BLOCKBR, an experienced tokenizing asset company with offerings for all pockets.

It is possible to buy tokens starting at 50 reals and get great results.

Open an account on BLOCKBR!

BLOCKBR Digital Assets is a web 3.0 native fintech that unites technological innovation and digital knowledge to transform physical assets into digital ones, in the process of tokenization.

The supply of tokenized assets is democratic and decentralized, which makes the way of investing safe, simpler and more efficient.

We enable, structure, issue and offer tokens on our platform and beyond. Be aware that tokens depend on feasibility and regulatory factors.

Do you want to tokenize your business or part of it? Do you have a business solution and does it make sense to issue your own token ?

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