One of the biggest signs of progress made by the crypto industry in recent times has been getting more merchants to accept crypto as a form of payment.
Now, ConsenSys is helping crypto users earn money as well as spend it. It did this by announcing some new initiatives for users including crypto games and dapps that give users monetary rewards for their participation. This is made possible by the existence of ERC721 and ERC20 tokens which reward users for their participation.
One of the most popular crypto games is Crypto Kitties, where users can earn tokens for participating and then sell those tokens. Now, 16 more games have now been added, giving users a wider variety of games to choose from.
“Online, blockchain-based games have embraced the ERC-721 token and launched a host of games with active users and transactions. As all these tokens are built off the same standard, we are seeing the emergence of liquid markets across the digital gaming ecosystem with people able to trade assets between games. And the best part? There’s even some $$$ in it for you if you commit the time,”
said the ConsenSys team.
There has always been a significant overlap between those who play online games and those who are interested in cryptocurrency because both groups are made up for forwards thinking and very tech-savvy people. Therefore, it makes sense for online games to be marketed cryptocurrency by way of games. The monetary value helps forge engagement, benefiting both the crypto and gaming community.
In one instance, a crypto kitty was sold for 600 ETH which was worth over $170,000. Also, barely a few hours after the games were announced, a user had already made $600 by NFT. The money was made by making of a dApp called SuperRare, which enables the Buying, selling, and trading of verifiably-unique digital art. Another dApp that was advertised was CryptoSketches, which allows the creation, buying and selling of vector sketches.
While blockchain typically gets attention for its use in finance, business, and other ‘serious’ applications, it's used in areas such as gaming with help endear it to everyday people.
Some of the other games listed include CryptoBaseball, which allows the playing of virtual baseball, CryptoAssault, in which a virtual army engages in combat, Axie Infinity, Blockchain Cuties, World of Ether and Gods Unchained. The Most well-known for now is still Crypto Kitties in which virtual cats are bred, bought and sold.