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Blockchain technology is already changing how we look at the world and how business can be done. With decentralized currencies and smart contracts that don't need to be managed by a central authority, more and more people are realizing that peer-to-peer transactions are the way forward. People are finding an increasing number of uses for blockchain technology, and one of those uses is gaming.
Blockchain gaming is nearly 10 years old at this point; starting back in 2013 with HunterCoin, players would hunt for coins on a map and compete in player vs player battles to fight for resources. Since then, gaming with the blockchain has evolved and people have found many different ways to incorporate the technology into gaming.
One of the first games that reached viral levels of popularity using the Ethereum blockchain to create a decentralized application was CryptoKitties. This game allowed players to collect, breed, and trade virtual cats with other players. Launched in late 2017, CryptoKitties utilized the security of the technology to create a game that was essentially unhackable, meaning that players couldn't falsely alter the features of their CryptoKitties in order to sell them to players who thought they were getting a legitimate Kitty.
CryptoKitties had such hype around it that players were throwing thousands upon thousands of dollars at it - with one Kitty going for 600 Ethereum or $360,000 at the time! Like many things in crypto, hype builds and falls very quickly around projects, but despite the initial hype around this product has fallen, CryptoKitties are still very much a thing with Kitties still being sold for hundreds of thousands of dollars as of 2021.
The immutable property of the blockchain is what makes it so appealing to game creators, particularly in the fantasy sports realm. Games like Sorare are using NFT technology based on the Ethereum network to create cards that players can buy and use in fantasy football leagues. These games payout players in Ethereum and other NFTs if the players do well enough.
The big appeal to Sorare is that there are a limited number of each playing card, so not everyone can have a Christiano Ronaldo or Lionel Messi on their team. As there is a finite number of each card, the more demand there is for that player, the higher its price. This means you can invest in cards of players that you think will perform well and can sell them when the demand for that player increases. The buy and sell aspect of the market gives players two ways to play - they can focus on building a team for the fantasy sports side or they can buy and sell in the market.
Each card you buy in Sorare is yours to keep and isn't just valid for one season. These cards can be used across seasons and can even be kept as collector's items once players retire.
Another great aspect of the blockchain is that all the technology behind it is open and transparent for everyone to see. There are no hidden mechanics like you may see in some video games that have random chance elements such as loot boxes.
This means that in games that use loot box mechanics, you can clearly see the chances of getting each item and can't be misled into thinking it will happen more frequently than it does. This is also a great way to find a provably fair online casino. Gambling sites that run on the blockchain is an idea that's been around almost as long as blockchain technology itself, with more and more sites taking advantage of the technology each day. These online casinos offer great welcome bonuses to new players and make gambling quick and easy. Review sites have listed the best Ethereum casinos, ranking them based on the services they provide. You can also find information and guides about these casinos, as well as a variety of games to play, such as blackjack, roulette, and slots. Due to its advantages, you can expect to see a lot more games with chance elements using blockchain technology to ensure fairness.
Gaming is being advanced by blockchain technology in the same way that the internet advanced gaming back in the early 2000s. More and more companies will build their games on the Ethereum network and take advantage of its security and immutability.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.