Building a business in blockchain games

We’ve talked about the future of blockchain gaming and it is clear that metaverse, or virtual worlds, as you prefer are already changing the limits between games and metaverse. 

In addition, new paradigm of blockchain, where players are owners of NFTs and where those NFTs can be an avatar, skin or any in game asset is already changing the games and they will bring the possibility to change from a metaverse or blockchain game easily and the opportunity to create new economies and businesses in those worlds.

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There are hundreds of articles describing the pump and dump of hundreds of blockchain games during the last year. Those games were not created to play and their economies bordered on pyramidal models.

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The current blockchain games are not the same, they are creating games based on fantastic and amazing gameplay and rich, interactive environments, involving the players being able to create their own landscapes. We’ll even be able to set up in-game businesses which we can build up and monetize. 

We have some examples, such as Outer Ring that it defines itself as Outer Ring MMO is a science fiction MMORPG(Massively Multiplayer Online Role-Playing Game)  with tokenized economy.

The video game has its own Player Driven Economy, meaning that all assets are either generated from the player’s work or created by them. Using blockchain technology to convert all kinds of items and assets into fungible or non-fungible tokens (NFTs). As a result, players become the true owners of these objects and can generate value for their time invested by selling them.

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That means that anyone will be able to create and set up their own business in games and to monetize and we won’t be able to see the difference between gaming, entertainment, socializing and commerce.

Find below two examples about different projects, both of them are working in that direction: 

The Sandbox 

This is the best example of a game and metaverse mix. In The Sandbox, there is gameplay like in a gaming, but players can also buy lands, build on it their own commerce and then monetize.

As their team say, “The Sandbox is a unique virtual world where players can build, own, and monetize their gaming experiences using SAND, the main utility token of the platform.” 

The player can decide to do or be, as they explain in their whitepaper: 

  • Voxel Editor : This simple to use, yet powerful free 3D voxel modeling package allows users to create and animate 3D objects such as people, animals, foliage, and tools, and export them into The Sandbox marketplace to become game ASSETS. 
  • Marketplace: The Sandbox’s web-based marketplace allows users to upload, publish, and sell their creations (ASSETS) made in VoxEdit. 
  • Game maker : Anyone who owns ASSETS, either by making them in VoxEdit or purchasing them, can utilize them with the third and most important ecosystem product, the Game Maker and the Game itself. This product, when launched in Game Maker mode, enables users to place and use their ASSETS within a piece of LAND that they can own in the virtual world. Users can decorate their LAND with ASSETS, and more importantly, implement interesting and nuanced gameplay mechanics by assigning predefined behaviors to the ASSETS through visual scripting nodes, turning a LAND from a decoration experience into a potential full game experience. 

In addition, The Sandbox has been able to attract many brands and have agreements with them to attract more people to its community, so being close to a store of these brands could make you rich 😉 

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Outer Ring 

As I’ve written above, Outer Ring MMO is a science fiction MMORPG (Massively Multiplayer Online Role-Playing Game)  with a tokenized economy.

In this “game” the player is able to create its own economy, deciding,  in this fictional universe, from 5 species, divided into 4 factions, to fight for the control of planets and resources. 

In addition, generating a social and persistent virtual world allows the creation of different experiences added to the regular gameplay. Individuals and organizations can design their own spaces, host events, develop business models, and create immersive social experiences engaging with the community. As they explain in their whitepaper. 

That means that players will be able to monetize in different ways: 

  • The Marketplace, where you can directly acquire GQs, or NFTs from the game by purchasing them with other cryptocurrencies through a digital wallet.
  • In-game shops. Run by non-player characters who trade with players. 
  • Direct in-game purchases.
  • Diverse in-game DEX in different zones or planets, with liquidity pools filled with in-game resources, with the possibility of purchase, provide liquidity and subsequent arbitrage by the players.
  • Player-created shops, where players can trade items they have created themselves, directly interacting with other players.

As you can see, this is a game with plenty of opportunities, not only for playing, but also to make money.

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From BELOBABA, that kind of feature in a gaming is an extra point to create and grow an enthusiastic and loyal community that lets the game grow and to have more stability as it is not depending only on the price of the token. 

It’s important to have different ways of revenue in this changing and volatile market.