The gaming industry is a large one and is expected to keep growing in the coming years as computing power increases. The biggest gaming companies in the world like Activision Blizzard, EA Sports, Epic Games, Nintendo, and Tencent are valued at over $200 billion.
The gaming sector is being disrupted by the blockchain industry. The concept behind this is simple. Instead of playing games owned by centralized companies, people can use games built and owned by the community. Also, blockchain is enabling people to get paid for playing games and winning. In this article, we will explain what play-to-earn crypto games are and some of the best games to use.
What are play-to-earn games?
The traditional approach of online gaming is disrupted because of how the model works. In most cases, a company like EA Sports will create a game and then monetize it through subscriptions or one-off purchases. Many mobile games, on the other hand, use a model where players spend money to advance. This model has worked extremely well for game developers, which make billions of dollars every year.
Blockchain technology is changing this model by creating gaming platforms that are owned by the community. Players are compensated using tokens that they can exchange for real money using this model. They can also take part in the creation of future games.
The play-to-earn industry took off in 2021 as more people became aware of the sector. Still, I believe that the industry has barely scratched the surface and that it will continue growing in the future. So, here are some of the best free play-to-earn crypto games in 2022.
My Neighbor Alice
My Neighbor Alice is a small play-to-earn game that enables people to buy and build their own virtual islands. The game is currently in the prototype stage, although its native token, ALICE, is actively traded in the market. ALICE has a total market capitalization of $218 million, according to data compiled by CoinGecko. The goal of the developers is to use the game as a way of introducing millions of people to the blockchain industry.
The concept behind My Neighbor Alice is similar to that of other similar platforms. It is a multiplayer game that enables people to buy and own their virtual islands. They can then move ahead to develop these islands by building projects like homes. At the same time, people can do activities like fishing and bug catching as they interact with others in the virtual world.
After owning a virtual island for a while, a user can then sell it to other people in the ecosystem using the non-fungible token (NFT) technology. The currency used in this environment is known as ALICE.
The ALICE price jumped to an all-time high of $29 in November 2021. It then crashed by about 56% to the current $12.50. The price could bounce back in 2022 as the developers launch the real game. There is a possibility that investors will buy the coin again, owing to its original success.
Axie Infinity
Axie Infinity is the biggest play-to-earn game in the world. AXS, its native token, has a total market capitalization of $6.45 billion, making it the 30th biggest cryptocurrency in the world.
Axie Infinity is a game that was inspired by the success of Pokemon Go. It is a multiplayer game where gamers battle, breed, collect and develop their kingdom. This progress is tracked using a leaderboard, which determines what the winners get. These winners are rewarded using the AXS token, which can also be changed for fiat currencies like the US dollar and the euro.
Axie is on a strong growth path, which could propel its price in 2022. For one, the developers are aiming to transform it from a mere gaming platform to a leading metaverse project. As such, in the coming year, it will be possible for people to buy and sell plots of land. The unveiling of these projects will likely push the AXS token price higher in 2022.
The AXS token jumped to an all-time high of $165 in November 2021. Since then, it has crashed by about 40%. Still, there is a possibility that the price will rebound in 2022.
Gala Games
Gala Games is a fast-growing decentralized gaming platform that was started by a co-founder of Zynga. Zynga is a gaming company valued at $7 billion and is home to popular games like Farmville, Candy Crush, Empires & Puzzles, and CSR2.
Gala Games is a platform that enables game developers to build their games. Users can then play these games and earn money doing so. The money is in the form of GALA.
Gala Games is a new platform, but its reception has been great. Some of the games that people can play in the ecosystem are Townstar, The Walking Dead, Mirandus, Legacy, and Last Expedition. There are more than 1 million gamers on the platform every month.
The GALA token rose to an all-time high of $0.84 in November 2021. It has then declined by about 45%. Still, there are some catalysts that will push the GALA price higher in 2022.
First, most games in the ecosystem are new, meaning that they will start gaining traction in 2022. Second, the developers will release their Galachain initiative in 2022. This chain will lead to almost free transactions within the network. In most cases, cryptocurrencies like Gala tend to do well when there is a major update.
Summary
The play-to-earn industry is just getting started. In 2022, there is a possibility that most of these games will go mainstream. Also, there is a likelihood that more games will be launched since the industry has already been proven that it can work. We believe that these three games will be the ones to watch in 2022. Other notable play-to-earn games to watch will be The Sandbox and the Worldwide Asset Exchange (WAX).
