Decentralized applications (dApps) are apps built on blockchain-based platforms such as Ethereum. While some of these are of the finance variety or in other industries, a dApp industry is gaming. It turns out, though, that gaming was bigger than initially thought.
CryptoKitties, one of the largest blockchain-based collectible games in the world, had made $6.9 million in its first year back in 2017, according to Flipside Crypto. At that same time, players of the game had brought in around $20 million in auctions made available by the platform.
Gods Unchained, a popular card battling game not unlike Blizzard Entertainment’s Hearthstone, had made $4.2 million it its first year, with players bringing in around $237,000.
Finally, My Crypto Heroes, a role-playing title on the Ethereum blockchain, hade made around $1.5 million in its first year, with players seeing $118,000 in revenue as well.
This goes to show that blockchain-based gaming is more than a niche. It’s an evolution in the space. After all, blockchain-based games allow players to create real value out of their in-game digital assets. They’re essentially rewarding players for putting time and effort into their in-game characters.
An excerpt from FlipSide Crypto explains this perfectly, stating:
“Traditionally, items in games are owned outright by the companies that create them. When players buy in-game items, like a favorite skin for their character, or a cat, the player doesn’t own it – the game company licenses it to the player. By using blockchain technology, these games give players real ownership over the items they purchase or earn in games, which can later be sold for digital currency or traded with other players.”