Online games, open-world Metaverses and the rise of Bullieverse
Blockchain technology is also penetrating the esports industry
Modern games, especially blockchain-based games, are leading the conversation and debate around the metaverse. While these new virtual worlds are still in their infancy, they represent a new way for gamers to enjoy the game. These platforms create intriguing social and economic opportunities for gamers around the world. Called “play-to-earn” games, metaverse-based games offer players new ways to interact, play, invest, collect and earn just by playing the game.
Bullieverse, one of the leading blockchain gaming platforms that provides players with access to the metaverse, has become one of the brightest representatives of this trend this year. The game is an open source project developed for a community of players and creators around the world. The game includes a fantasy island Metaverse where users can play games outside of experience, create experience and earn rewards.
In Bullieverse, users not only own NFTs, but they can also use NFTs in in-game games to get more rewards. In addition, owners of NFTs and in-game assets can rent or lease their assets to other people to earn passive income without playing the game. Finally, the platform also includes a DAO, or Decentralized Autonomous Organization, which allows users to participate in decentralized voting on updates and additions to the metaverse, bringing the real world to the game.
From the above example, it can be seen that the blockchain gaming space has taken the gaming ecosystem up a notch. However, fun and competition remain the backbone of the game, whether it’s a traditional game or a blockchain game. Over the past decade or so, competitive video games watched by spectators and fans, or esports, have grown significantly as a form of entertainment – and blockchain gaming projects are rapidly entering this space.
The rise of esports gaming on the blockchain
Over the past few years, esports has captured the attention and minds of many people around the world. This has made it the most popular, most profitable and fastest growing form of entertainment today. Unverified estimates suggest that the global esports industry could generate $3.2 billion in combined revenue in 2022, exceeding the UFC and the UEFA Champions League combined in annual gross revenue.
It is becoming increasingly clear that blockchain technology can play a role in the esports industry, creating synergies never seen before. The integration of cryptocurrencies into the world of esports can open the door to new opportunities, providing users, players and innovators with a new gaming or spectator experience like never before. Thetan Arena is one of the blockchain esports games aiming to create such a future of competitive gaming.
Thetan Arena allows users to gather friends, form a team, fight against others, and earn money on the platform. Users can stream their games through the platform to millions of other users who pay to stream via their native $THG cryptocurrency or other cryptocurrencies.
So how does the synergy between cryptocurrencies and esports benefit gamers? As discussed, blockchain integration brings countless benefits to the esports gaming industry. First, it improves the overall gaming experience by allowing for real interaction with fans by stimulating engagement. It also gives players a new revenue stream through tokenized teams and improved loyalty programs, allowing casual fans to earn money from watching games.
In addition, the cryptocurrency allows athletes to crowdfund their performances using revenue sharing agreements or loyalty rewards that are encoded in smart contracts. Lastly, cryptocurrency creates new markets in the sports industry and deeper liquidity for teams as teams can create fan tokens, allowing more investors to purchase shares or parts of organizations.
The world of virtual reality and blockchain gaming is evolving at a rapid pace as people become more aware of the metaverse. Facebook’s entry into the market opened the imagination and attention of many gamers (and non-gamers) to foreign virtual worlds. Today, gamers can easily play to earn, experience the metaverse, and take part in decentralized governance.
However, the concept of entertainment remains a key element in the growth of gaming, as seen in the explosive growth of esports over the past decade. Blockchain technology is also penetrating the esports industry, allowing for real fan experiences, tokenization of teams, crowdfunding, and new earning opportunities for players.