What gives a video game its value? Is it the story, the characters, or the gameplay itself? What gives an NFT value? Is it the scarcity, the artwork, or the creator? No one can say for sure, but there seems to be a similarity in how both NFTs and video games are fused with the ever-expanding blockchain industry.
On the surface, it seems like both video games and NFTs would naturally gain traction as both of these industries have to do with technology designed to entertain the masses.
According to Nonfungible, in the past month alone, 59,311 NFT sales have already taken place. The volume was north of $20 million with an average price of $345.49.
According to Statista, the video game market’s value in 2020 (for the US alone) was $60.4 billion.
However, due to technical limitations and a lack of games that retain long-term interest, these factors have significantly hampered what looks to be an up-and-coming and lucrative industry.
The most significant issues with the gaming industry today are:
- The ‘Pay-to-Win’ business model of game developers focuses on profits for the developers.
- The ‘Pay-to-Win’ business model of game developers ignores the replay-value of the gamers.
- Players often spend significant amounts on in-game items, only to helplessly watch them depreciate.
- The traditional issuance method of the first NFTs in blockchain games is to the earliest investors.
- The traditional issuance method of the first NFTs in blockchain games discourages investors who didn’t get in early to participate.
With these emerging industries projected to see so much growth, how can the blockchain-gaming industry be adopted by gamers globally, knowing what we’ve witnessed from the most recent attempts made?
ChainGuardians is a blockchain-based game that rewards players for playing games with unique in-game assets. This crypto/anime-themed game is unlike any other game you’ve probably played due to the game mechanics and the DeFi aspect of the game/platform.
A persistent multi-world turn-based real-time strategy game is a revolutionary concept. A player’s rewards are driven by player purchases and crypto infusions, which occur due to partnerships with other game tokens and blockchains. While idle (not online), advanced AI-based battles can be governed by a Guardians’ attributes.
Unlike other blockchain-based games where the environment and accessories are only of value in a single game, ChainGuardians has partnered with several games to tap into several video game worlds. This keeps things new and exciting for gamers while keeping them engaged to continue playing and fuel the ecosystem.
These rare assets are ERC-721 tokens based on the Ethereum blockchain.
Delivering an unprecedented gaming ecosystem founded upon:
- Competitive gameplay through chain analysis technology
- Advanced game economics, which merges the best of DeFi and NFTs
- Expandable & persistent multi-blockchain world experience
Collectible in-game digital assets include:
- Supporting characters
These digital collectibles are also known as crypto-collectibles, or NFTs (Non-Fungible Tokens) and are deployed in the game. As the assets are represented through ERC-721 tokens, this ensures that assets are genuinely unique, preventing duplication or counterfeiting of the tokens.
There are all types of gamers. From the hardcore gamer who thrives off competition to the casual gamer who looks to participate in gaming’s social aspect, players have different objectives when deciding to invest time playing video games. ChainGuardians has figured out a way to incentivize them all.
Factors for players wanting to play the game could include:
- Playing for fun
- Playing for the social aspect (community-driven value)
- Playing for bragging rights
- Playing for the sheer thrill of victory
- Playing for profits
No matter what type of gamer that participates, a ‘Pay-to-Win’ strategy will not favor those who have more resources at their disposal than others; casual gamers can choose to get involved without having to pay out-of-pocket expenses.
Guardians will be able to join forces to take on opposing forces in order to gain:
- Ever-evolving, powerful, World Artifacts
Another notable blockchain-gaming innovation is the ‘Bring Your Own NFT!‘ Gameplay feature. You guessed it – you can leverage your ownership of rare NFTs you already own to play ChainGuardians’ gameplay modes. This game-mode is an exciting part of the ChainGuardians roadmap.
Variables that will change the depth of an NFTs’ integration into the ChainGuardians’ ecosystem can depend on:
- Strength of a partnership ChainGuardians have developed with the respective gaming project
- Strength of a partnership ChainGuardians have developed with the respective gaming project’s stakeholder community
- Technical Compatibility
- Gameplay Suitability
The overwhelmingly popular ‘Pay-to-Win’ business models that game developers employ result in a game that loses its replay-value when gamers eventually run out of money, leading to boredom, frustration, and stagnation.
The ecosystem includes a market where you can freely trade rare and valuable tokens with other gamers combined in multi-blockchain worlds. The team at ChainGuardians is set on building a completely decentralized and innovative gaming platform that incentivizes gamers to play games with multiple ways to earn digital assets.
Combining traditional gaming concepts with blockchain technology, ChainGuardians aims to create some of the world’s most exciting and enjoyable blockchain gaming experiences.
Factors for sustainable growth in the ChainGuardians game includes:
- Environment – Games must be easy to join for new players.
- Development – Interesting games & playing methods.
- Prices/Powers – Must have values appropriately assigned and adjusted.
- Balance – A mixture of moderate ‘Pay-to-Win’ & ‘Play-to-Win’ is accurate.
The $CGG Token
The $CGG (ChainGuardians Governance) is an ERC-20 token and the native token to the ChainGuardians ecosystem. The token can use for:
- Governance – Submit proposals & votes on critical decisions to the ecosystem/design changes.
- Staking – Earn rare rewards such as NFTs with unique abilities and take full advantage of revenue sharing via token buy-backs.
- Payments – Purchase in-game assets, items, and consumables to boost your chances of victory in battles.
The use-cases for the CGG token include:
- Rewarding the gamers for participating in the ChainGuardians’ ecosystem via multiple game modes and strategies.
- Empowers users to make key decisions on the ChainGuardians’ ecosystem that will play a significant role in the platform’s direction.
- Encourages users to engage with the token’ user-case and redeem rewards by incentivizing users with $POWER tokens, special NFTs, and mining.
The $POWER Token
The POWER token is the Liquidity Provider Token for the ChainGuardians platform.
- Earn $POWER rewards participants by providing $CGG pairs
- Stake $POWER tokens and earn $CGG (APY)
- Stake $CGG to earn exclusive NFTs and partner tokens
- Vote & propose vital ecosystem decisions
- NFT Mining Game – Staking NFTs that have been added to the partner ecosystem through the NFT Mining Game, where you can sync real-life digital assets to begin NFT mining.
- ChainGuardians RPG: Level up your Guardians in a Role-Playing-Game where battles won can result in you winning digital assets from your opponents.
- Liquidity Mining – Become a Liquidity Provider with the use of $POWER tokens and earn rewards
- Governance Rights – Holders of the $CGG token will have the ability to cast votes.
More details on NFT mining can be found here.
As smart contracts, NFTs, and the video game industry continue to merge to bring entertainment and DeFi in a single package to the masses, incentivizing the user to continue participating on a platform has taken precedence as the adoption of blockchain technology takes place. Several attempts have been made, but there has yet to be a blockchain-based game with the proper game-theory and ecosystem to sustain gamers’ interest in the long-term, but ChainGuardians is taking a different approach.
For example, the way in-game assets can be used in several games interchangeably (or interoperably) is ground-breaking, not just in the blockchain-gaming but also in the gaming world. By partnering with several blockchain-based games and having them agree on a system to fairly assign values to them (based on several variables), the sales and purchases of these rare digital assets between gamers have a much broader market to transact with than usual. Ultimately, this helps the ecosystem thrive as more users can engage with each other while also improving the use-cases for all tokens in the ecosystem.
Recently, it was announced that ChainGuardians could be found in Decentraland’s MegaCube. Megacube is an upcoming event on Decentraland that allows miners to dismantle it like in Minecraft to win big rewards – details on Megacube can be found here. ChainGuardians is also partnered with some of the most prominent names in the cryptocurrency industry, including Decentraland, Chainlink, Elrond & Matic.
Taking a unique approach to blockchain-based gaming, ChainGuardians is doing away with ‘Pay-to-Win’ and allowing players of all types to get in on the fun – without high barriers to entry. No longer are NFT-based games restricted to just one mode of play, one universe, or players with plentiful resources buying their edge by handing over wads of cash. ChainGuardians is changing the game by providing radical new gaming experiences that allow all gamers to play, earn, and win – like never before.
*Disclaimer – ChainGuardians is our Media Partner, and this content is made possible with their support. The above article does not represent financial, investment, or trading advice, and we do not recommend the purchase of any cryptocurrency or product without consulting a financial aid. The Daily Chain strongly encourages you to do your own research before making any investment decisions.