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Overview and Market Trends of Crypto Games in 2021

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The number of gamers worldwide is estimated at around 2.6 billion in 2020. The upward trend will add another 125 million by the end of 2021. About half of them hail from the Asia-Pacific region. The crypto gaming scene is representing an increasingly large portion of that number. Crypto games are still a relatively unknown term, at least to the general public, but in 2021 they are expected to explode due to various trends detected in this year. The potential is just too great to be ignored. Ability to reward players and let them trade for real money their in-game items is something a lot of games have tried – mostly unsuccessfully – to achieve in the past. Thanks to blockchain technology, that goal is possible now.

What Is Crypto Gaming?

Crypto games are a relatively new addition to the gaming world. The first games appeared just a few years ago. The main aspect of crypto games is collecting items that rise or fall in value and that can be sold at any time, provided you can find a buyer. One of the first popular crypto games was CryptoKitties. In the game, you can buy a cat and groom it. You can even buy two and breed new kittens. The price goes up and down and you can sell your cats or buy new ones. The most expensive cat ever sold on CryptoKitties reached an astonishing price of $117,000. It was to be expected that the first crypto games would be about cats, but they came in all shapes and flavors. You can collect heroes, monsters, fish, even hamsters. Considering the choice of genres, it is easy to find a game that suits your preferences.

Crypto and iGaming

The iGaming industry is one of the fastest-growing segments of gaming. It is expected to reach a value of 300 billion by 2025. It is no wonder then that a lot of crypto developers are pivoting to it, making their coins iGaming-friendly. 2021 will be huge in terms of using bitcoin for iGaming, judging by some indicators. There is even talk of creating digital coins exclusively for online gambling, although that is far-fetched at the moment. Already established coins, like Bitcoin, Tether, and Ethereum are functioning just fine and are being adopted by more and more online casinos. At this rate, there won’t be an online gambling platform that doesn’t accept them by the end of 2021.

The Trending Platform in 2021

Most crypto games available today are based on the Ethereum blockchain and we don’t see that changing in 2021. Simply put, the Ethereum blockchain is an extremely convenient platform for this kind of apps. IT is readily available, easily modified, and has great tech support to bail out developers when they hit a snag. All these attributes make Ethereum perfect for crypto gaming since the majority of the studios developing games are independent. As such, they can’t afford the muscle power large developers have at their disposal, and having friendly tech support and a platform that can be easily adapted to their needs is crucial. However, this too can change in the upcoming year, but more on that later.

The Developers

As we mentioned earlier, there is only a handful of big names in crypto gaming. Most developers are small indie companies and startups. For the last two or three years, they have been working diligently to create games and in 2021, they are poised to reap the benefits of their hard work. Some of the games, like My Crypto Heroes or Blockchain Cuties, already boast thousands of players and are ready to blow. This will allow their creators to emerge as the first crypto gaming powerhouses on the market. On the other hand, a lot of established studios are eyeing crypto gaming and making plans to join in the fray. They will bring to bear a massive amount of money, influence, and talent, which will affect the segment in a considerable way.

The Benefits of Crypto Gaming

Blockchain technology is on the verge of transforming the Internet. The benefits it offers are huge, but one thing that is slowing its implementation is that most people don’t know enough about it. Crypto games can help with that. By presenting this newfangled technology in a familiar manner – and what is more familiar than gaming – crypto games will allow people to get acquainted with it. This familiarity will make the adoption of all other applications of blockchain that much easier. Even casual gamers, who spend just a few hours weekly playing crypto games will be familiar enough with it that blockchain won’t sound so alien to them. Crypto games will help the world adjust to blockchain in preparation for its wide application.

Crypto Games That Will Mark 2021

Predicting which games will be huge in 2021 can be ungrateful, but we will give it a try. One of our favorites is Forgotten Artifacts. It appeals to our Dr. Indiana Jones fantasies, as it lets you collect various items and artifacts around the game world. The game is still in beta and one limitation is that it can only be played with an Enjin wallet. My Crypto Heroes is another game that shows tremendous potential. Based on Japanese mythology, it allows you to collect various heroes and train them to add new characteristics and increase their value. For our final recommendation, we have chosen Blockchain Cuties. Think of it as Tamagotchi, but with cute monsters instead. You can collect them, breed them, and train them to increase their skill in battle.

Blockchain

Government Blockchain Week Story

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From September 27- October 1 of 2021, the Government Blockchain Association, GBA, will be bringing together blockchain enthusiasts from around the globe for their big event, Government Blockchain Week in Washington DC.

In spite of the ravaging of COVID-19, the GBA is planning to hold this event live in many of the iconic buildings of the Capital City. The September week will be the third time that this event has been moved farther into the future in hopes that when Government Blockchain Week finally happens, attendees will have no fears of contracting the virus.

The week will begin with a Blockchain Foundations class on Monday, along Embassy Row at the British Embassy’s Rotunda building. At the same time, Blockchain Use for State and Local Governance will be held at the Attorney General’s Office downtown.

On Tuesday, a DC government agency building will host the Blockchain, Innovation & Economic Growth with Pitch Competition. Competitors from around the globe will be pitching their blockchain solutions to a panel of investors and government policymakers. Prize money, as well as the chance to advance to the World Business Angels Investment Forum world competition is at stake. The winners will be chosen at the end of the day.

While this is going on, the Department of International Trade UK at the British Embassy will host Blockchain, International Trade and International Aid.

On Tuesday evening, attendees can purchase tickets for Blockchain Ambassadors, held at the historic Whittemore House, for an evening to network under the stars. This cocktail party, the first of 3 Evening Receptions, will feature strolling musicians, parlor talks in the grand rooms of the mansion, catering fit for a President, networking in Eleanor Roosevelt’s library, finishing off with brandy and cigars out on the patio as the evening comes to a close.

Wednesday will be a day full of cryptocurrency and cybersecurity. Beginning with the Legal, Law Enforcement and Cybersecurity Forum happening in tandem with the Money, Banking and Cryptocurrency Forum. Guests will agonize over which one to attend, because they will miss the other.

In the late afternoon, selected guests will be invited to the FinTech Round Table, hosted by the Embassy of Bahrain. This invitation only meeting of the minds will allow banking regulators and finance policymakers a chance to meet and discuss the changes that are happening in their industry.

On Wednesday evening, on the rooftop of the International SPY Museum, the GBA will host CryptoNite, and electric, black tie event filled with intrigue and drama. Words cannot describe what CryptoNite is. You just have to be there. This is the second of the 3 Evening Receptions.

On Thursday and Friday, the big guns of the Speakers’ list will show up at the Congressional Auditorium of the US Capitol where GBA will host their 2-day flagship event, The Future of Money, Governance, & The Law. During these two days, global leaders in blockchain, finance, cryptocurrency, government, and law enforcement will discuss where and how blockchain will dramatically change their industry. During the 2 days at the Capitol, GBA will host their

Annual Achievement Awards,

and a Digital Art Show.

On Thursday night, on the rooftop of Capital View 400, the guests of Government Blockchain Week can purchase tickets to attend the

Inventors and Pioneers Evening Reception.

For centuries, inventors and pioneers have shaped and impacted the whole of humankind. On this night, we celebrate the inventors and pioneers of the 21st Century who will impact the decade and the century to come. This final Evening Reception will be a great celebration of a monumental week, overlooking the dome of the Capitol under a sky full of stars.

Government Blockchain Week, September 27 through October 1, 2021, will be packed with forums, presentations, competition, awards, art, parties, and most of all, powerful and impactful networking. Anyone who hopes to make a stand in blockchain technology will benefit by attending this monumental event.

Author Bio

Kathy Dache’ is the Events Director of the Government Blockchain Association (GBA). She has over 30 years of training and events experience. She co-founded a blockchain professional networking group in 2016 and helped launch the Government Blockchain Association in 2017. She has conducted extensive research on blockchain and cryptocurrency topics including economic analysis, financial systems, and the impact of cryptocurrency adoption on governments. She has developed presentation and training materials on blockchain use in healthcare, identity management, supply chain management and many others. She has also been the GBA liaison for GBA speakers and dignitaries. Her passion is graphics and art.

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Blockchain

Wall Street Bets ‘Chairman’ Tweet Sends Dogecoin (DOGE) Soaring 85% in Hours

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The price for the popular meme coin, Dogecoin (DOGE), went flying today. The cryptocurrency skyrocketed by almost 90% in just a couple of hours after the ‘Chairman’ of the now popular Wall Street Bets group tweeted about it.

  • About a couple of hours ago, the ‘Chairman’ of the popular Wall Street Bets group asked whether or not DOGE has ever been trading at $1.
  •  After the Tweet went live, DOGE’s price went for the skies. The cryptocurrency soared by about 85% in a matter of hours and reached an intraday high at around $0.0145. The price has since corrected, but it appears that there’s still momentum in the market.
  • The reason for this excitement is what recently happened with the stock price of GameStop.
  • The Wall Street Bets group on Reddit saw more than 2 million people joining it with the common cause of buying GME stock against the trades of Wall Street hedge funds, who have been shorting it.
  • Not long after that, the price soared by up to 600%, causing mayhem on Wall Street and even getting one large hedge fund out of its position for what was reported as a massive loss.
  • The entire ordeal even saw the CEO of NASDAQ say that they would potentially halt trading in case of increased social media chatter.

“When we evaluate how we would manage through a situation where you see a significant run-up with a stock that is not based on news or fundamentals, we have technology that evaluates social media chatter, and if we see a significant rise in the chatter on social media channels and we also match that up against unusual trading activity – we will potentially halt that stock.”

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Source: https://cryptopotato.com/wall-street-bets-chairman-tweet-sends-dogecoin-doge-soaring-85-in-hours/

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Reddit Doubles-Down on Blockchain: Partners With The Ethereum Foundation

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The giant social media platform Reddit has doubled-down on its blockchain and cryptocurrency involvement with a new partnership with the Ethereum Foundation. As a result, Reddit plans to utilize the Ethereum network to create larger-scale applications like the Community Points introduced last year.

Reddit Doubles-Down On Blockchain

CryptoPotato reported last year that the San Francisco, US-headquartered platform launched Community Points as tokens built on the Ethereum blockchain. Users from two subreddits, namely r/CryptoCurrency and r/FortNiteBR, were able to receive the ERC-20 coins and spend them on various services, such as membership purchases or voting on polls.

Reddit asserted that the points will be a measure of reputation and contribution within each of the communities. Earlier, a platform administrator going by the handle u/jarins reaffirmed the relationship between Reddit and the blockchain space with a fresh partnership with the Ethereum Foundation.

“In this new stage of our partnership, immediate efforts will be focused on bringing Ethereum to Reddit-scale production. Our intention is to help accelerate the progress being made on scaling and develop the technology needed to launch large-scale applications like Community Points on Ethereum.”

Furthermore, the post explained that the Ethereum choice was rather apparent as Reddit was looking into exploring an open-source and publicly available scaling technology.

An Increasing Commitment To Blockchain

The post highlighted that the most recent initiative with Ethereum is a step to increase the platform’s “commitment to blockchain,” which should help bring “the value and independence of blockchain technology to millions of Redditors.”

Consequently, Reddit has established a designated Crypto Team and is looking for “engineers who want to build the decentralized Internet.”

Aya Miyaguchi, the executive director at the Ethereum Foundation, also commented on the new partnership. She noted that the team behind the second-largest cryptocurrency by market cap continues to “be impressed with Reddit’s vision, and by how it maintains its culture and philosophies, which were key in forming this relationship.”

Additionally, representatives of both parties plan to host an online session to answer users’ questions.

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Source: https://cryptopotato.com/reddit-doubles-down-on-blockchain-partners-with-the-ethereum-foundation/

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