Solutions for Decentralizing the Online Gambling Industry

The online gaming industry is worth over $150 billion, with the industry controlled mainly by a handful of centralized operators. Blockchain technology has been revolutionary leading to adoption in different sectors. 

The gaming industry is not left behind, and blockchain-based games have increasingly become popular in recent years. In addition, the ability to make transactions within games has added a new dimension to gaming. 

Decentralized finance and NFTs have also added new potentials to blockchain gaming, allowing gamers to have greater control of assets traded for real money or transferred across platforms. In addition, blockchain has also brought a fairer approach to online gaming as gaming progress can be tracked, making cheating all but impossible. 

Rewards can also be modified and allocated to different levels of gamers within a fair distribution model that ensures the right persons are rewarded based on other parameters. Finally, we explore some of the top blockchain games in no particular order and highlight their key features. 

The Sandbox

The Sandbox was initially a virtual open-world game before adding blockchain elements following its purchase by Animoca Brands in 2018. As a result, the game is regarded highly within the blockchain space and has a growing multiverse ecosystem. 

Taking the lead from popular games like Minecraft, Sandbox is largely gamer-oriented and integrates NFTs effectively. Users can develop in-game creations and sell them in the Sandbox’s online marketplace. 

The game successfully uses three different tokens that have other functions. SAND is an ERC-20 token that performs utility functions and is used for transacting within the gaming verse. LAND is NFTs that serve as digital real estate that gamers can buy, rent out or sell for profits. The third token, ASSET, represents content created by gamers and can be traded as an ERC-1155 token within the marketplace. 

The Sandbox has been able to successfully intertwine multiple tokens to create a unique blockchain gaming platform. 

Axie Infinity 

Axie Infinity is another blockchain game that is gaining popularity within the crypto space. Axie Infinity takes its cue from the popular Pokemon game and enables gamers to purchase little creatures called Axies used in a battle royale against other gamers or the game’s AI. Players must purchase a minimum of three Axies to start gaming, and winning battles earns them the utility token called Small Love Potions (SLPs). SLPs are used for farming more Axies that can be sold to other gamers. Furthermore, the higher an Axie’s breed count, the more expensive it is valued. 

Axie Infinity also provides a governance token called Axie Infinity Shards (AXS) that can be staked and used to buy NFTs in the inbuilt marketplace. The token can also be traded on Uniswap and other supported tokens.

NEON District 

Neon District is an RPG blockchain-based game that pits gamers battling villains in a virtual city. Like any RPG game, it features different characters, plots, and storylines that keep players engrossed. 

Gamers can earn new skills denominated in NFTs, which can be traded in the dedicated marketplace. NFTs earned can also be exchanged on popular NFT marketplaces like Rarible and OpenSea. 

Decentraland 

Decentraland is one of the biggest gaming metaverse on the Ethereum blockchain. It is similar to Sandbox and divides virtual lands within the game represented by individual NFT tokens. The blockchain game also integrates a utility token called MANA used to buy LAND and customize features within the virtual real estate.

Decentraland, as the name suggests, is fully decentralized, and MANA token holders dictate the governance of the project. MANA has also been listed on several exchanges and can be easily purchased to partake in activities. Virtual landholders can perform several activities from leasing properties, selling advert spaces, or using it to host premium experiences. 

Top 5 Gaming Altcoins in 2019

KoinSwap 

KoinSwap  is a blockchain gaming platform that combines online casino and decentralized finance features. It provides a decentralized-based casino ecosystem for gamers to bet and earn winnings. The blockchain gaming platform is built on the Binance Smart Chain (BSC) blockchain, which means that users can make cheap transactions within its gaming verse. 

Yield farmers that provide liquidity also earn from a cut of the casino’s edge revenue or provide liquidity to casino pools. KoinSwap also decentralizes the process of game development by creating a proof of concept that provides developers with what they need to build games on its platform. 

It has also partnered with cybersecurity firm CertiK to ensure supported games are audited at a reduced cost. In addition, KoinSwap is powered by its utility token KOIN, designed to provide benefits for holders within its KoinSwap ecosystem. The gaming platform also features staking pools for yield farmers to add liquidity for potential rewards.

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