Just a few years ago, gaming was merely an activity for relaxing and having fun. Today, the gaming industry has evolved into an industry where players trade digital assets and collectibles worth thousands of dollars. This evolution has given rise to entire economies built around games and virtual spaces.
In a world where virtual assets earned through gameplay are as valuable as digital real estate, financial impossibilities quickly fade into nothing.
GameFi Concept
Looking back, you may or may not have known that gaming and a disruptive technology like blockchain would seamlessly integrate, but one thing is for sure – the gaming industry is seamlessly adopting blockchain technology, and this has been made easy by a sub-niche called GameFi.
GameFi has introduced Play-to-Earn (P2E) games specifically designed for monetization, education, marketing and other “fun” purposes, made possible by a combination of decentralized finance (DeFi) and gaming fundamentals.
With GameFi, players have a clear path to earn digital assets with real-world value. It’s no longer just about bragging rights. This niche creates an entirely new economic model within virtual worlds, allowing players to look at games from an investor’s perspective. Games are no longer just for fun, they are now something to play, own and profit from in a virtual economy.
Game publishers, regardless of size, now monetize their games by issuing tokens. Initially, these tokens were usually based on the ERC-20 standard on the Ethereum blockchain. However, as the industry as a whole grows, more and more gaming projects are migrating their games to other blockchains for reasons such as scalability and efficiency.
Tokens will be distributed at the early stages of the project or can be purchased on the secondary market. The costs incurred in the development of the game will be covered by these tokens. The token is also the project’s native utility token, used by players to purchase in-game assets and is a means of rewards and payments from publishers to players.
Examples of such gaming projects include QORPO, Sidus Heroes, Astra Nova, etc. In this article, we will discuss these platforms and how they are leading the gaming revolution on the blockchain.
Democratizing eSports with Blockchain
In 2023, the global esports market size was $5.39 billion. It is expected to reach $6.61 billion in 2024 and $41 billion by 2033, with a CAGR of 22.6% for the forecast period 2024-2033. These figures make esports a lucrative aspect of online gaming, and it’s coming to the blockchain thanks to QORPO.
QORPO, a blockchain-powered game development company, is on a mission to revolutionize esports and make the sector enjoyable for everyone. Citizen Conflict, a hero shooter game, is the company’s flagship project. Citizen Conflict is a fundamentally fast-paced gameplay designed with the robust infrastructure of esports, leveraging blockchain for the ultimate competitive gaming experience.
Becoming an esports star can be a daunting task, with high barriers to entry and a lack of the resources and connections needed to compete at the highest level. But this is no longer the case, as QORPO’s blockchain technology is changing the game. Citizen Conflict allows you to become part of a community of talented players, show off your skills, and earn rewards.
In 2022, the esports industry reached a viewership of 532 million people, a figure that is expected to grow to an estimated 640 million by 2025. QORPO’s contributions and approach put it in an ideal position to revolutionize the industry, reach these projected figures and accelerate the emergence of a community of esports stars and viewers.
P2E on the Blockchain
Imagine earning digital assets or crypto tokens for the time and effort you put into a game. P2E gaming allows gamers to make a living by engaging in their favorite recreational activity: gaming. This model has grown so much that in some countries, gamers are making a living just by playing video games.
The global P2E NFT gaming market size was valued at $755 million in the year (2021), a figure expected to grow at a CAGR of 21.3% and may reach $633 billion by 2028 during the forecast period.
The explosion of the P2E model has created a player-owned economy that allows for ownership of in-game assets such as land, characters, items, etc. These assets are unique and can be tracked on the blockchain. Once acquired, players can use their assets to progress in the game and earn more rewards.
Sidus Heroes, a futuristic MMORPG game, is an example of a gaming platform that utilizes P2E NFTs. It uses NFT technology to build a holistic player-driven gaming economy, allowing players to own their in-game content with Sidus, making their in-game possessions tradeable.
Sidus Heroes has a Launchpad that helps launch promising gaming projects with strong teams. Launchpad has an overarching philosophy of quality over quantity, and uses a DAO and SIDUS token for the fundraising process for worthy projects.
Astra Nova is another P2E game at the forefront of Web3 gaming. Inspired by classic games such as Fortnite, Astra Nova is a free-to-play role-playing game (RPG) that lets players enter a world steeped in interplanetary lore spanning millennia. Like Sidus, it marks a shift of power from game studios to the hands of gamers.
A new era of gaming
The introduction of blockchain technology into gaming will usher in a new era of gaming where players can enjoy both economic opportunity and quality fun. At the forefront of this revolution are projects such as QORPO, Sidus Heroes and Astra Nova, which perfectly demonstrate the potential of blockchain to transform the gaming scene.
The platforms mentioned above (and others like them) are leveraging blockchain technology to redefine the relationship between game developers and players. This structure transforms players from passive consumers to active participants in their favorite entertainment activity. Through this NFT and token-based model of play, players can now earn rewards, own in-game assets, and contribute to game development decisions.
