Chinese blockchain technology is restoring the game’s economy and transforming economic activities both inside and outside the game.
According to the Kevin Telegraph, the billion-dollar Axie Infinity game has helped thousands of players in the Philippines and other low-income countries who have been under economic pressure with the spread of the Crown epidemic. A key element of the game’s success was its emphasis on intellectual property rights.
Players of such games can take what they earn in the game from the gaming environment and trade in other markets such as OpenSea.
Kevin Telegram’s research department analyzes the top 5 games in a detailed report and reviews the changes that have taken place in this area since the creation of the Second Life platform.
This report examines the profound differences between the virtual economies we’ve seen before, such as Second Life and World of Warcraft, and the economics of modern blockchain-based games such as Oxy Infinity and DeFi Kingdom.
In the past, gaming studios could rarely develop a game that had the right market, in-game currency, and open source standards. But the Chinese bloc has allowed builders to build their own building for economic play. With this technology, developers will be able to generate a token within an hour or present elements in the game in the form of NFT. In this way, users of these games will be able to offer the characters and items they have acquired in the game outside the game, in other markets or other Chinese block games at a low price.
Decentralized Financial Technology (DeFi) has brought many opportunities to players and this has led to the rapid adoption and acceptance of these games by the general public.
Top 5 Chinese block games are Defdam Kingdam, Bomb Crypto, Oxy Infiniti, Alien Worlds and Splinterlands. Each of these games has a different gameplay and excites its users in different ways. In this report, each of these games is measured by different criteria, such as active users per day, volume of transactions, stored deposits and gameplay and technology, which are the same economic incentives for the currency in the game.
But we must also mention the dark part of the Chinese block games. Concerns about the environment, the great difference between rich and poor, the rule of law and the tax consequences are among the main problems that concern the minds of activists in this field. Paying attention to these negative points is doubly important, because we pay attention to the fact that the great success of these games attracts more players and developers in this area.
Although when Polygon’s network transactions peaked in 2021 and early 2022, they accounted for about 35% of all network transactions involving Chinese blockchain games, it should be noted that without addressing potential problems forward, growth will continue. Chinese blockchain games are under threat as critics and regulators try to limit development or prevent users from entering the space.
At the end of this report, the future of Chinese blockchain games is described positively and the potential of this free economic space is discussed. Lower transaction costs, stronger intellectual property rights and open source standards combine to transform traditional gaming markets.
The publication Report: Combining economy and play in Chinese block games first appeared on Arzdigital.