The Tech Quiz - Season 25

Greetings! I hope everyone here is safe and healthy by the Grace of Allah Almighty. Today I am here to take part in the contest organized by @malikusman1. The topic of the contest is "The Tech Quiz Season 25: Web 3 Games". So lets discuss it.

Before I explain what is Web3 Games, lets discuss shortly what is Web3. Web 3.0 is a new way of interation of World Wide Web (WWW) which includes concept of decentralization, blockchain technology, and token-based economics. Its designed to give more power and control to users rather than big companies. Instead of banking system where one authority is controlling everything, Web3 uses decentralized systems like blockchain where not a single person is authority just like Steemit.

Now lets see what is web3 games. Web 3 games are video games that use advanced technology Web3. As I explained about, there is no central storage in web3 games as well but they are built on decentralized networks like blockchain. This means the game's data is not controlled by one company that makes it more secure and gives players more control over the game assets.

Web3 Games are new way of games where players can truly own the items they buy or earn in the game. They can even sell or trade those items outside game environment. These Web3 games often have features like NFTs which are unique digital assets that represents ownership of in-game items. As we know Web3 games are built on decentralized blockchain, they offer more transparency and fair gaming experience.

I dont have any favorite web3 and I never played any game. But in the past, I checked few games when they were in trend during last bull run. The most popular game of that bull run time was Axie Infinity where players were collecting, breeding, and doing battle with fantasy creatures called Axies. In return I remember they were getting SLP (Smooth Love Potion) token whose price was very low and it dump really hard.

Second web3 game was The Sandbox and also a related one Decentraland. It was the time of Metaverse and I bought both of these tokens during bull run. I made around $1,500 from these coins but never played the game because I usually play old games of 90s because of my sweet memories with them. In decentraland, I remember players were allowed to buy, sell and build on virtual land using blockchain technology.

In Web3 Games, the native token is like game's currency through which players buy or sell items. It is the token through which they trade with other players and sometimes earn rewards as they do transactions. Lets take example of above mentioned web3 game Axie Infinity, the native token of this game is AXS and players need to buy them to play the game. In rewards, players were getting SLP token which players can sell on any exchange.

For Decentraland game, the native token was MANA and for The Sandbox the native token was SAND. These tokens were also used to buy, sell, trade or build a virtual land or get items in the game. They are used to trade items in the game. These tokens often have real-world value so players can trade them for other cryptocurrencies or traditional money on any exchange they are listed on.

This is all from me for the "The Tech Quiz - Season 25". I invite @moyeon, @steemdoctor1, and @tayyaba1997 to participate in this contest.