Gaming has been a massive part of the entertainment industry for decades. But in the last few years, a new concept has started taking over—decentralized gaming economies. It's a fancy term, but what it means is simple: games are no longer just about playing; they're now also about owning, earning, trading, etc. Thanks to blockchain technology, players are becoming a part of the game's economy, making gaming way more than just a hobby. In a regular game, you pay for a game or buy in-game items, but those items don't really belong to you. The game company can change the rules, take them away, or even shut the game down, and you lose everything. With decentralized games, all of that changes. Using blockchain, players can actually own in-game assets like characters, skins, weapons, or even entire game worlds. These assets are stored as NFTs (non-fungible tokens), and since they’re on the blockchain, you have complete ownership.
The beauty of this system is that you can buy, sell, or trade these items in real life for actual money. It's not just about playing the game; you’re part of a real economy. It’s similar to how people trade Pokémon cards or sports memorabilia, but now, it’s all digital and on the blockchain. This kind of gaming economy is based on the Play-to-Earn (P2E) model. Instead of just grinding hours on a game for fun, you can actually make money while doing it. How? Well, in many decentralized games, when you achieve something—like defeating a boss or completing a challenge—you earn tokens. These tokens are cryptos that can be traded for actual money on crypto exchanges.
Just think about that you’re playing your favorite game, and instead of just earning in-game gold that doesn’t mean anything outside the game, you're earning real currency. Axie Infinity is one of the most famous examples of this. Players can earn Smooth Love Potion (SLP) tokens, which can be sold on the market for real money. This has led to some players, especially in places like the Philippines, earning a living just by playing the game. That’s a massive shift in the gaming world. I will come up with some more details on this topic in the next part of this series of posts.
~ Regards,
VEIGO (Community Mod)
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