Best P2E Games

Blockchain gaming industry 2024

Blockchain gaming industry 2024

Game Review 

With 2023 coming to a close, we see how the blockchain gaming, and Gamefi, industry has performed throughout the year and look forward to 2024. Today’s video gaming news is the first in a year-end series where we will see how the blockchain gaming industry saw ups and downs in several of its domains. Today, we will start with the blockchain gaming industry and its plan to go mainstream and become a household thing. Did this really happen? If not, where does the blockchain gaming industry stand? We’ll also look at how gamers around the world have taken to the idea and see if there are signs of widespread use by 2024. So, let’s start, shall we?

Gamefi and Blockchain Games: A New Phenomenon

Gamefi, the blockchain gaming industry, or Web 3.0 gaming, is an industry where players can earn digital assets and cryptocurrencies with real-world value attached to them. Gamefi is a fairly new idea in the entertainment business. Its goal is to replace or at least compete with traditional games. To be fair, there isn’t any comparison, as the traditional gaming industry is astronomical in magnitude and the blockchain gaming industry is only four years old, making it a toddler. So, there’s a long way to go for Gamefi in terms of mass adoption and blockchain games going mainstream.

According to a recent report, the Q3 2022 of blockchain games:

  • Despite macroeconomic factors, the gamefi industry shows promise and the potential to recover. The global macroeconomic challenges have had a significant impact on the Gamefi domain. 
  • The trading volume and activity in blockchain games are still small when compared to the traditional gaming industry.
  • Blockchain activity on other platforms outside Ethereum has considerably increased.

Ethereum Merge, Cryptocurrency Recovery

We also saw Ethereum Merge become successful in many ways. It also played a part in taking ETH out of declining equity markets. Moreover, ETH and Bitcoin both recovered, which is a positive sign for blockchain games. As blockchain activity increased, other blockchain platforms seized a sizable market share. These platforms include Immutable X, Polygon, and Flow. Also, AAA-level games with good developers are coming out soon in the Web 3.0 gaming space. So, we expect to see fun and engaging Web 3.0 games in 2023.

Performance of the blockchain gaming industry in 2024
Performance of the blockchain gaming industry in 2024

So, how did mass adoption go for blockchain gaming in 2023-2024?

First and foremost, we have distinct active wallets, which are a critical component in assessing the mass adoption of blockchain games. As shared by WEForum, the unique active wallet count surpassed the one million mark in Q2 and Q3 of 2022. It is not clear if these wallets have unique users behind them because a user may have multiple wallets. Moreover, UAWs also do not denote the number of active users a game has. However, one thing is for sure: blockchain games have found themselves a steady community and a solid foundation to depend upon. It also shows that NFT and blockchain games will continue to develop in the coming years.

How did NFTs perform in 2023-2024?

The year 2023 didn’t bode well for NFTs, as the bearish trend continued throughout the year. The transaction volumes saw a massive drawdown, resulting in the speculation phenomenon fading away. However, the sale of NFTs on blockchain platforms other than Ethereum has seen a steady and considerable rise. The gradual increase of NFT sales on other blockchain platforms is evident since the start of 2023 and has continued quarter to quarter all year. However, the overall trend shows that NFT speculation is nearing its bottom. Happy days for 2024!

blockchain gaming industry gamefi 2023-2024 web 3.0 gaming - NFT - Bored Ape
NFT – Bored Ape

Status of new blockchain games in 2024

A report by DappRadar suggests that a total of almost 2,000 games are using blockchain technology. So, it is still fairly early for blockchain games. When we compare the total number of other games on the App Store and Google Play, we know that blockchain games have a long way to go. Moreover, the development phase behind a single game takes years and depends on infrastructure, development tools, distribution channels, and more. As a result, expecting all-out growth in blockchain games and rapid mass adoption will take some time. However, you will see fun and engaging games making their way to the Web 3.0 gaming space starting next year. So, there’s only one way forward from here for blockchain games.

Check Out More on Play To Earn Games 2024

Stay tuned with us for more gaming news, updates, and reviews on blockchain games. And do check out our weekly news edition on Web 3.0 games, if you haven’t already. If you want to watch our videos, then check out our YouTube channel. If you like P2E games, then here is our game list.

Blockchain gaming industry 2024

Every day the latest video game news about the gaming industry. Video games news on NFTs (non-fungible tokens, NFT, NFT’s), Play to Earn (P2E/Play-to-Earn), crypto games and cryptocurrencies, gaming guilds, Metaverse, VR, AR, AI, Virtual Worlds, Avatars, Digital Assets, In-game digital currencies, Web3 development, Blockchain-based video games and its transactions and payments in the games.

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Blockchain gaming industry 2024

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Related P2E Games: Play To Earn Crypto, NFT, Web3

Meda Wars – Game Review

Meda Wars is the highly anticipated sequel to the popular Meda Shooter game, developed by the same team that brought you the original. This turn-based action-adventure game combines elements of strategy and fun to create a unique gaming experience. Whether you’re a fan of the original Meda Shooter or new to the series, Meda Wars has something to offer for players of all skill levels. So why wait? Start playing and strategizing today with Meda Wars! Meda Wars picks up where the story of Meda Shooter left off, diving deeper into the ongoing conflict between the two factions of CryptoMeda. This NFT game, which uses the Polygon Network for its blockchain functions, allows players to explore the complex world and story of Meda Wars in a way that is both engaging and interactive. Whether you’re a fan of the original game or new to the series, Meda Wars offers a rich and immersive gaming experience that will keep you coming back for more. Meda Wars Storyline: In the world of Meda Wars, two factions – the Goliaths and the Renegades – are locked in a fierce struggle for power and resources. The Goliaths are a communist group that believes in equally sharing loot and wealth among all members. They adhere to strict rules and regulations in order to maintain unity and prevent greed from tearing them apart. Gameplay: Just like Meda Shooter, the players can choose from two different factions – the Goliaths and the Renegades. Once a side is chosen, the players can participate in the war to attack and conquer new lands and areas. After winning a battle the players will be able to get some MedaGas which is necessary for the utility transactions of the game. MedaGas can also be bought with TECH tokens and it is used only in the game. Using MedaGas, players can participate in the PvE battles to win more MedaGas and TECH tokens, the latter of which is tradeable on crypto exchanges. Finally, each player will require two weapons to participate in the battle depending on the traits and abilities of the players. Tokenomics: TECH is the in-game token same as the Meda Shooter game, giving the coin more stability and value in the market. MedaGas is a utility token of the game while TECH is the governance token.

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SkateX – Game Review

“SkateX,” a new massively multiplayer online (MMO) game by Block Tackle, promises players an immersive and intense gaming experience. “SkateX” is introducing non-fungible token (NFT) skateboards, which will be available for purchase until later this year. These NFT skateboards can be used both in and out of the game, marking the first time NFTs have been used for virtual skating.They have a Pro Skater on their team: Professional skater Stevie Williams joined the team at “SkateX” as an advisor. Williams will provide insights on streetwear and skateboard design for the game. He brings a wealth of experience to the role, having founded the online skatewear clothing retailer DGK and being a lifelong fan of skate culture. Williams will use his expertise to advise the “SkateX” team on these topics. In addition to his advisory role, Williams will also create a special line of NFT skateboards for the “SkateX” community. His background as a professional skater will be invaluable in infusing authentic skateboard culture into the game. How will players earn? Currently, “SkateX” players can earn in-game currency by trading, buying, and selling their NFT skateboards. It is also possible that players will be able to lend their skateboards in the future. Players can improve their NFT skateboards by earning points through gameplay and completing challenges.

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Heroes of NFT: Turn-Based Collectible Card Game on Avalanche

“Heroes of NFT” is an innovative trading card game hosted on the Avalanche-AVAX blockchain, offering players a strategic and collectible card gaming experience. The game sets itself apart by emphasizing planning and strategy over luck, introducing unique in-game elements like spell cards, weapons, and cosmetics to enhance hero power and customization. These in-game items can also be traded on a marketplace, contributing to the in-game economy. The game employs play-to-earn mechanics, allowing players to earn rewards and actively participate in shaping the game’s direction through governance tokens (HON). Additionally, HRM tokens and spell cards can be earned through gameplay, creating a dynamic community and in-game economy. Stakers can also profit from character NFTs with HON tokens, adding engagement beyond traditional gaming. In “Heroes of NFT,” players are presented with a multifaceted gaming experience. They are driven by play-to-earn mechanics to lead their heroes in missions for survival and prosperity in a new world. The game operates on a turn-based collectible trading card system, with strategic thinking at its core. Players construct decks of 10 cards, with HoN cards appearing prominently. These decks can be used in battles against other players or AI bots. The cards are divided into two types: attack and defense, with rarity levels ranging from common to legendary. The power of these cards is denoted by sword and shield icons, respectively. Moreover, the game commits to reinvesting up to 80% of NFT card revenue back into its ecosystem tokens post-launch, promoting sustainability.

Tokenomics play a vital role in the “Heroes of NFT” ecosystem. The game operates as a self-contained economy, with interdependence between NFT assets, $HON tokens, and $HRM tokens. $HON, an Avalanche Native cross-chain token, serves as the primary trading currency in the marketplace, facilitates governance, provides access to ranked games, enables staking for NFT item cards, and fuels farming incentives. On the other hand, $HRM tokens come in three variants and are used for in-game items, including one-time-use spell cards, ensuring a continuous supply. The equilibrium of this ecosystem relies on the harmonious interaction of these essential components.

The community’s response to “Heroes of NFT” has been largely positive, with players recognizing its potential as a strategy game and expressing interest in investing. However, some players have raised concerns about the cost of entry, with one user noting that it would cost them $281 just to start playing the game. Despite these concerns, the $HON token has garnered significant enthusiasm within the community.

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Alpha League Racing: NFT Thrills and Play-to-Earn Excitement – Game Review

Alpha League Racing is a straightforward game that allows players to earn rewards by racing their NFT cars in events, tournaments, and online friendlies. To get started, players simply need to acquire an NFT car and then participate in races to earn rewards. Players can purchase their ALR vehicles from platforms such as open.sea or directly from the Alpha League Racing website. Each vehicle costs only 0.25 SOL, but as the game becomes more popular, it is likely that the price will increase. Once you have your ALR vehicle, you can participate in races and earn rewards. One of the benefits of buying NFT vehicles in Alpha League Racing is that they can be upgraded and customized. Players can alter the appearance of their vehicles and use them across different blockchains, which means that ownership of these NFTs extends beyond the game itself and into the wider blockchain ecosystem. This adds an extra layer of value and ownership to the NFT vehicles. Alpha League Racing Gameplay: Alpha League Racing has an arcade-like feel to it, with vibrant colors and imaginative maps. Players can try out the demo for free to get a feel for the game, which includes a few playable NFT cars and tracks. The demo allows players to participate in a fast and friendly racing session to get a taste of the overall experience. Even if you only try out the demo, you’ll get a sense of the excitement and fun that the full game has to offer. While Alpha League Racing has an arcade-style feel, it also has realistic handling mechanics that add a level of authenticity to the gameplay. As the game continues to grow in popularity, it is likely that it will continue to improve and evolve, offering players an even better racing experience.

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Best P2E Games list 2024

Blockchain gaming industry 2024

P2E News, short for “Play-to-Earn News,” is a category of updates and information within the broader spectrum of Crypto News, Web3 News, NFT News, and Blockchain News. These terms are all interconnected and represent various facets of the rapidly evolving digital landscape.

Play-to-Earn (P2E) is a gaming model that has gained immense popularity within the crypto and blockchain communities. In P2E games, players can earn cryptocurrencies or NFTs by participating in the game, often through activities like completing quests, collecting items, or trading assets. P2E News covers developments, announcements, and trends related to these innovative gaming experiences that allow players to monetize their in-game efforts.

Crypto News, on the other hand, focuses on the broader world of cryptocurrencies, including Bitcoin, Ethereum, and a multitude of altcoins. This category encompasses news about market trends, regulatory changes, new blockchain technologies, and updates related to various tokens. Crypto News is a fundamental aspect of the blockchain ecosystem, as cryptocurrencies serve as the primary means of value transfer and exchange within the Web3 space.

Web3 News is an umbrella term that refers to the next-generation internet, often characterized by decentralized applications, blockchain technology, and smart contracts. The Web3 ecosystem seeks to provide a more user-centric and decentralized internet experience. This category of news covers developments in decentralized finance (DeFi), non-fungible tokens (NFTs), and various other applications built on blockchain technology. For the ultimate and best play to earn games list, check our friends of playtoearngames.com.

NFT News focuses on Non-Fungible Tokens, unique digital assets that are indivisible and represent ownership of a specific item, artwork, or collectible. NFTs have gained prominence in the art world, gaming industry, and entertainment sector. NFT News keeps enthusiasts informed about NFT sales, new projects, and partnerships within the NFT space.

Blockchain News pertains to the foundational technology behind cryptocurrencies and Web3 applications. Blockchains are decentralized ledgers that record transactions across a network of computers, ensuring transparency and security. Updates in this category might include innovations in blockchain consensus mechanisms, interoperability between different blockchain networks, and industry applications beyond cryptocurrencies.

In summary, P2E News is a niche subset of Crypto News, Web3 News, NFT News, and Blockchain News. It focuses on gaming experiences where players can earn cryptocurrencies or NFTs, while the other categories encompass a broader range of topics within the decentralized digital landscape, including cryptocurrencies, web3 technologies, NFTs, and blockchain advancements. Collectively, these categories shape the landscape of the digital economy, offering insights into how technology is revolutionizing various aspects of our lives.