Web3 Adoption Boosting Video Gaming Industry Growth

Web3 Adoption Boosting Video Gaming Industry Growth

Play-To-Earn Games News, P2E Games News | 08 May 2024 09:13 UTC

How the Adoption of Web3 Technologies is Helping the Video Gaming Industry to Grow Even More! An Analysis of the Predicted Growth, Penetration, and Revenue of the Video Games Industry from 2023 to 2027.

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Web3 technologies and their role in the growth of the video gaming industry is a reality now, the report highlights projections and challenges in Web3 gaming and blockchain technology integration.

Web3 technologies and blockchain have allowed gaming and metaverse projects to flourish. The analyzed data in recent research shows that out of the 8000 random projects analyzed in ETH, SOL, and Aptos, 26.6% of them are classified as gaming or metaverse. This means that there are 2128 projects in total that promise to deliver a game or metaverse experience.

Web3 technologies and their role in the growth of the gaming industry is a reality, the report highlights projections for blockchain gaming.
Web3 technologies and their role in the growth of the gaming industry is a reality, the report highlights projections for blockchain gaming.

The Video Games industry is projected to experience significant revenue growth in the coming years, with revenue reaching US$372.00 billion by 2023 and an annual growth rate of 7.80% from 2023 to 2027, resulting in a projected market volume of US$502.40 billion by 2027.

The industry is expected to have 3.04 billion users by 2027, with user penetration increasing from 34.5% in 2023 to 38.3% by 2027. The largest segment in the industry is Mobile Games, with a projected market volume of US$315.90 billion in 2023. China is expected to generate the most revenue in the industry, with a projected revenue of US$107,300.00 million in 2023.

The average revenue per user (ARPU) in the Video Games segment will reach US$140.20 in 2023.

Web3 Blockchain Projects in ADA, BNB, and AVAX

However, things seem to be even more promising in ADA, BNB, and AVAX blockchains. Out of the 2000 random projects analyzed, 40.9% of them are gaming or metaverse projects.

This means that there are 818 projects in total that are committing to delivering a game or metaverse experience on these blockchains.

The higher percentage of gaming and metaverse projects in ADA, BNB, and AVAX blockchains could be due to various reasons. For example, these blockchains might have more active and robust communities that take interest in gaming and metaverse projects.

Additionally, the lower fees and faster transaction times on these blockchains might make them more attractive for gaming and metaverse developers. It seems that the gaming and metaverse industry is growing rapidly, and blockchain technology is playing a significant role in this growth.

However, as with any investment, it's important to do your own research and due diligence before investing in any specific project.

The Significance of Gaming in the Rise of Web3

The potential importance of the gaming industry in driving the mass adoption of Web3 technology comes to the limelight in a recent tweet by one of the leading crypto analysts, NFT GOD. The thread argues that gaming is a perfect use case for NFTs (non-fungible tokens), which are digital assets that are unique and are not replicable or divisible.

NFTs can represent in-game items, such as weapons, armor, or skins, which players can buy, sell, and trade on the blockchain. This creates a new revenue stream for developers and players alike, and it also enables players to own their in-game items truly.

The tweet also emphasizes the dominance of the gaming industry in the attention economy. According to the data, gaming revenue in 2018 was $134 billion, which is more than the revenue generated by movies, TV, and music combined ($50 billion).

This suggests that gaming is a more significant cultural force than other forms of entertainment, and it has the potential to shape the way people interact with technology and media.

Finally, it argues that gaming is the future of Web3, implying that gaming will play a critical role in driving the adoption of Web3 technology by mainstream users. This is because gaming is a more accessible and relatable use case for blockchain technology than other applications, such as finance or supply chain management.

As more gamers become familiar with blockchain technology through gaming, they may become more comfortable using Web3 applications for other purposes as well.

Major Concerns and Challenges Ahead in Web3 Gaming

Saturation:

The gaming market is becoming increasingly crowdy with new games rolling out every week or so. As more games enter the market, it becomes more challenging for developers to attract players and gain traction.

This is because players have limited time and attention spans and are more likely to stick with games that they know and love, rather than trying out new games.

Lack of Quality in Web3 Games:

With so many games making it to the market, there is a risk of low-quality games. Developers may rush to release their games to keep up with the competition, leading to bugs, glitches, and other issues that can impact the player experience.

Fragmentation:

As players have more options to choose from, they may spread their time and attention across multiple games, resulting in a lack of engagement in any one game. This can be particularly challenging for multiplayer games, where player engagement is essential for a vibrant and active community.

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77-Bit - Game Review

77-Bit - Game Review

77-Bit is a groundbreaking web3 MMORPG (Massively Multiplayer Online Role-Playing Game) that blurs the lines between virtual and real-life experiences. Launched in April 2022, this project, under the creative direction of Fanfaron, introduces players to a unique fusion of Manga and Anime aesthetics, tangible encounters, and NFT drops. Here is an extensive summary of the article: 77-Bit is a collection of 7,777 avatars serving as gateways to an immersive gaming universe. It was launched in April 2022 and operates on the Ethereum blockchain. The project adheres to the ERC token standard, with the avatars representing characters known as Ronins. These Ronins are poised to become playable personas in upcoming 77-Bit video games, promising an engaging user experience. Storyline: The game is set in the year 2077, where humanity has been subjugated by cyborgs from alternate dimensions. This dire situation stems from a cataclysmic event triggered by an ill-fated invention that tore open rifts between realms. Valiant Ronins rise to confront interdimensional cyborg invaders, leading to an epic struggle for survival. The narrative draws inspiration from cyberpunk and synthwave aesthetics, crafting a dystopian tale. Gameplay: 77-Bit aims to bridge the gap between play-to-earn projects and AAA games, offering players the chance to earn cryptocurrency. It is designed as an MMORPG-style video game with two distinctive zones: a metaverse for virtual interactions and trading, and a gaming zone named "chaos" for battles against monsters and artifact hunting. Players begin their journey with a collection of 7,777 avatars, which grant in-game models, power-ups, and access to the 77-Bit universe. These avatars evolve into playable characters with unique attributes like strength, speed, intelligence, and class affiliation as the game progresses. Character advancement occurs through gameplay, with rewards such as new weapons and artifacts for achieving objectives. NFT & Tokenomics: 77-Bit comprises 7,777 NFTs known as $RONIN, following the ERC token standard on Ethereum. There are two NFT collections within the project: 77-bit, the primary one, and 77Bit Comics, which includes around 6,571 copies of a single token. These NFTs offer diverse attributes, including costumes, facial features, hand gear, weapons, and backdrops. The NFT collections include various character types, such as Guys, Girls, Cyborgs, Apes, and Punks, each with distinct characteristics. Community Response: The community has shown enthusiasm for the anime NFTs within 77-Bit. Some members believe that Ronin represents the future. Others emphasize the importance of delivering memorable experiences in the crypto and NFT space for long-term success. In summary, 77-Bit is a pioneering web3 MMORPG that combines a captivating storyline, NFTs, and a play-to-earn model to create an immersive and rewarding gaming experience. The project has garnered interest from the crypto community, with its unique blend of virtual and real-life elements.

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MetaGods: Pixelated Power in the Blockchain Realm - Game Review

MetaGods: Pixelated Power in the Blockchain Realm - Game Review

MetaGods is an 8-bit action role-playing game that is built on the blockchain and features cutting-edge game mechanics. As a result, it is at the forefront of the ongoing GameFi revolution, and represents a major step forward in the world of blockchain gaming. Players will be able to experience a retro-style gaming experience with modern, innovative gameplay mechanics, making MetaGods a unique and exciting game to play. Whether you are a fan of classic 8-bit games or just enjoy engaging, action-packed gameplay, MetaGods has something to offer. In MetaGods, players have access to a variety of special characters and skills, as well as the ability to customize their NFT avatars. This allows for a high level of customization and strategic depth, as players can choose the characters and abilities that best suit their playstyle. In addition to facing off against deadly animals, players can also participate in epic dungeon boss battles and trade virtual goods for real-world currency on the MetaGods in-game market. Whether you are looking to test your skills against challenging enemies or just want to experience the thrill of trading and collecting valuable virtual goods, MetaGods has something to offer. MetaGods GameFi Model: In MetaGods, players can take advantage of the GameFi model to boost their revenue and strengthen their characters. By staking platform tokens directly through the game's user interface, players can earn in-game tokens that can be used to purchase powerful weapons, legendary loot, and other valuable items. Additionally, these tokens can be used to enhance their character's NFTs, allowing for even more customization and strategic depth. The GameFi model also includes a significant social component, allowing players to connect with each other and share their experiences within the game. MetaGods offers a range of gameplay experiences for both casual and hardcore players. Casual players can explore the game's universe and engage in farming activities, while hardcore players can take on the challenge of NFT permadeath (permanent character death) and enjoy higher APY and legendary loot rates. This provides a wide range of options for players of all skill levels and interests, allowing everyone to find something enjoyable in the game. In Hardcore mode, experienced players in MetaGods can take on a greater challenge and raise the stakes of the game. By putting their strongest characters at risk, players can earn increasingly valuable and rare items. However, survival is not guaranteed, adding an extra layer of excitement and danger to the game. This is the first time that this type of strategy has been implemented in a game, and it is sure to add an extra level of excitement for players looking for a more intense and challenging experience. Whether you are a seasoned veteran or just looking to test your skills in a more difficult setting, Hardcore mode has something to offer in MetaGods.

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Avaxtars - Game Review

Avaxtars - Game Review

Avaxtars, a pioneering Play-to-Earn (P2E) idle sci-fi game built on the Avalanche blockchain, has officially launched. The name "Avaxtars" cleverly combines "AVAX," the primary coin of the Avalanche network, with "stars." This groundbreaking game is the first of its kind on the Avalanche platform, and it began with the creation of 10,000 Avaxtars in Phase 1. These Avaxtars, belonging to Generation 1 (Gen1), each possess a unique Digital Genetic Code (DGC), ensuring their individuality. They are further categorized into rarity levels, ranging from Common to Legendary, and they exist as ERC-721 Tokens on the Avalanche Mainnet. Avaxtars introduces the Personal Avaxtar Generation Machine (PAGM), which deciphers the DGCs of Gen1 Avaxtars and produces new Gen2 Avaxtars through a process known as Avaxtar Farming (AF). This method not only creates new Avaxtars but also generates $AVXT Tokens. Players in this dynamic game engage in a variety of missions to earn rewards and experience points, with missions distributed across four distinct sections. To embark on these missions, players must expend resources, and upon mission completion, they receive valuable rewards. Every Avaxtar in the game is a unique NFT asset exclusively owned by its possessor. These Avaxtars can be freely traded, bought, or sold on different marketplaces. There is a wide variety of Avaxtars available, featuring different generations, Digital Genetic Codes (DGC), and rarity levels. Rarity plays a crucial role in determining an Avaxtar's circulation and success potential. Initially, only a hundred out of the ten thousand Avaxtars possessed legendary rarity, while common rarity accounted for nearly half of them. In addition to Avaxtars, in-game items are also NFT assets characterized by distinct rarity levels, including helmets, armor, gloves, boots, weapons, and vehicles, available in common, uncommon, rare, epic, and legendary variants. The rarity of these items directly influences their effectiveness during in-game actions, similar to Avaxtars' mechanics. Avaxtars introduces a trio of in-game tokens: AVXT, DGC, and ENXT, each serving distinct purposes and forming the game's essential ecosystem. AVXT serves as the cornerstone token, facilitating transactions within the marketplace and enabling the acquisition of PAGM devices, BoxDrop feature boxes, and various in-game assets. Notably, AVXT is the primary means to enhance the efficiency of PAGM devices. The game has garnered positive feedback from the community, with players expressing excitement about the Play-to-Earn aspect and the arrival of Avaxtars. It has generated significant interest among blockchain gaming enthusiasts, who see it as a promising addition to the world of blockchain-based games.

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CozyVerse Game - Game Review

CozyVerse Game - Game Review

Cozyverse is the ultimate platform ecosystem for games on the Polygon network. Our platform brings together players from all over the world to play, earn, and have fun. Optimized for search engines, Cozyverse is the go-to destination for Polygon gaming enthusiasts. Cozyverse is an ecosystem of entirely on-chain games on Polygon, that aims to create games that benefit from the distinctive gameplay that blockchain technology allows. Join the Cozyverse community today and experience the best in Polygon gaming!

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Evermoon: The Web3 MOBA Revolution - Game Review

Evermoon: The Web3 MOBA Revolution - Game Review

Introduction to Evermoon: The Web3 MOBA Revolution Have you ever imagined a game where your hours of grinding actually pay off in real-world assets? Enter Evermoon, a game that's not just another MOBA, but a revolution that blends blockchain technology with the adrenaline-pumping 5v5 MOBA experience we all love. It's like the gaming industry took a giant leap into the future, and I'm here to give you the lowdown on what makes Evermoon a game-changer! What's the Buzz About? Evermoon is not just a game; it's an ecosystem. Think about playing your favorite MOBA but with the twist of earning while having a blast. This game incorporates blockchain technology, making your in-game achievements and assets truly yours. It's like owning a piece of the game world! Personal Anecdote: A Gamer's Dream. Remember the time when we used to play games just for high scores and bragging rights? Evermoon changes that. The first time I traded an in-game item for real value, it felt like hitting a jackpot. It's a game that respects your time and passion. Gameplay: The Heart of Evermoon: The Classic MOBA Experience with a Twist. The core of Evermoon is its fast-paced 5v5 battles across a familiar three-lane map. But here's the kicker – it's not just about winning; it's about building something of value. Whether you're in a normal match or fighting tooth and nail in ranked matches, there's something to gain beyond just glory. A Tale of Two Modes: In Evermoon, every match is an opportunity. Win or lose, you're rewarded. This approach keeps the game exciting and rewarding, something traditional MOBAs sometimes miss. Quests and Rewards: Beyond the Battlefield: The game cleverly integrates daily and weekly quests, making every login a new adventure. And if you're into fitness, their move-to-earn quests are a stroke of genius – earn game stamina while keeping fit. It's like hitting two birds with one stone! The Heroes: Your Avatars in Evermoon: NFT and Non-NFT Heroes. Every hero in Evermoon is unique, with classes ranging from assassins to supports. What's cool is how you can choose between standard and NFT heroes. NFT heroes add that extra layer of ownership and exclusivity. And the thrill of combining hero shards to create a new NFT hero? Absolutely addicting! Personal Experience: The Joy of Collecting: Collecting heroes in Evermoon reminded me of my childhood days of collecting trading cards, but with a modern twist. The first time I upgraded my hero to an NFT, it was a proud moment, like evolving my very own digital champion. Tokenomics: The Economy of Evermoon A Dual-Token System Evermoon introduces a fascinating economy with its dual-token system. $EVM tokens are like your VIP pass in the Evermoon world, giving you governance power and exclusive market access. On the other hand, $ES tokens are the workhorse currency, perfect for daily in-game transactions. Staking for Profits The staking feature in Evermoon is a smart way to earn from your gaming investments. It's like putting your digital assets to work while you focus on conquering the battlefield. Community Speaks The gaming community is buzzing about Evermoon. From skeptics to believers, the range of opinions is vast. But one thing is clear – Evermoon is turning heads and making waves. Conclusion: Evermoon - A Game Beyond Gaming A New Era in Gaming Evermoon isn't just a game; it's a glimpse into the future of gaming. It's where entertainment meets investment, where each victory is more than just a win. It's a platform that respects and rewards your gaming skills in real-world terms. Final Thoughts As someone who's spent countless hours in the world of MOBAs, Evermoon feels like a breath of fresh air. It's exciting, innovative, and rewarding in ways traditional games have yet to explore. Whether you're a hardcore gamer or a blockchain enthusiast, Evermoon is a title you don't want to miss. So, are you ready to dive into the world of Evermoon and experience the future of gaming? The battlefield awaits! Evermoon Game Reviews Find all game reviews on our Games Overview pages. We've got hundreds of games reviewed just for you. Check them out: page 1, page 2, page 3, page 4, page 5, page 6, page 7, page 8. There's something for everyone!

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Aurum Draconis - Game Review

Aurum Draconis - Game Review

"Aurum Draconis," a blockchain-based RPG adventure set in a medieval fantasy world, hosted on the Avalanche blockchain network and powered by DCAR and DCAU tokens. This innovative "play-to-earn" game allows players to have true ownership of their in-game characters and gear due to the blockchain's decentralized nature. In "Aurum Draconis," players immerse themselves in quests, battling increasingly formidable foes to acquire valuable loot and crafting materials. Character progression can be achieved through combat or crafting, offering a high degree of customization. The game boasts an extensive range of powerful equipment and items that can be crafted and combined to suit individual preferences. Notably, all in-game items are non-fungible tokens (NFTs), tradable within a player-driven marketplace. The game's narrative is set in a medieval fantasy world where Dragon Haven holds legendary significance as the prime breeding grounds of dragons. Over the ages, conflicts between humans and dragons in this lush land have shaped its history. The dragons eventually left, but their leader, Aurum Draconis, vowed to return and reclaim their ancestral home. Gameplay in "Aurum Draconis" offers a comprehensive RPG experience, allowing players to customize their characters' attributes, skills, and gear. The game draws inspiration from 90s RPGs, offering a nostalgic and addictive experience. Skill development is pivotal, enabling character customization and strategy. Heroes level up, unlocking abilities and enhancing core stats, and every ten levels yield permanent upgrades through passive traits. The game features different hero classes (Warriors, Mages, Rangers, and Crafters) that cater to diverse playstyles, granting players the freedom to shape their heroes as they see fit. The game's tokenomics involve two native tokens: DCAR and DCAU. DCAR serves various in-game functions, including revenue sharing, staking for passive income, in-game rewards, and crafting. It also enables ownership of virtual land, allowing players to create unique virtual worlds. In contrast, the DCAU token is primarily used to mint Hero NFTs, representing customizable characters, which can be obtained through Hero Summoning Events or purchased on NFT marketplaces. The "Aurum Draconis" community has shown strong support and enthusiasm for the game, with players expressing excitement and investment in the project. The team and community engagement have received positive feedback from enthusiasts eagerly anticipating the game's release.

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Mighty Action Heroes - NFT Battle Royale - Game Review

Mighty Action Heroes - NFT Battle Royale - Game Review

Get ready for fast-paced, high-energy action with Mighty Action Heroes. This third-person, real-time multiplayer Battle Royale game puts an emphasis on fun, skill, and mayhem. As you fight to be the last hero standing, you'll need to rely on your quick reflexes, strategic thinking, and powerful NFT abilities. With a variety of characters and weapons to choose from, you'll have plenty of options for taking down your opponents. So why wait? Gather your team and join the battle today with Mighty Action Heroes! If you miss the excitement of collecting and playing with action hero figurines from your favorite cartoons, then Mighty Action Heroes is the game for you. This immersive fantasy realm allows you to bring your toys to life and experience the thrill of Dungeons & Dragons-style gameplay. The game pays tribute to the beloved action hero franchises of the past, including those from the 80s, 90s, 00s, and 10s. So whether you're a fan of classic characters or more modern ones, you'll find something to enjoy in Mighty Action Heroes. Join the battle today and relive the memories of those special Saturday mornings spent playing with your favorite action heroes. Mighty Action Heroes Gameplay: The game offers a bit of something for everyone whether you're a fan of pop culture, battle royale, a collector of action figures, an avid gamer, or just a user of Web3.0! You can earn rewards in the game for your talent and arena mastery! The game is completely developed from community responses. Additionally, Mighty Action Heroes, a collection* of larger-than-life NFTs based on well-known action heroes from Hollywood, Bollywood, Hong Kong cinema, and other films, will be used for the first time ever in a third-person video game. Most importantly, you won't have to connect any wallets or make any financial commitments in order to begin collecting Mighty Action Heroes on launch day. Each NFT will be a distinct, non-fungible token with distinctive qualities, including visual and non-visual traits. All Heroes will eventually be compatible with all supported games and social networks in the future.

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Cosmos Heroes - Game Review

Cosmos Heroes - Game Review

Cosmos Heroes is the premier, highly immersive AAA superhero NFT metaverse game, featuring dynamic gameplay and exhilarating graphics. With its cutting-edge technology, Cosmos Heroes offers players an unparalleled gaming experience that immerses them in a world of superheroes and NFTs. It's the very first of its kind and sets a new standard for NFT metaverse games. Cosmos Heroes is the ultimate choice for players looking for an immersive, AAA-quality superhero gaming experience.

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Starfall Arena - Game Review

Starfall Arena - Game Review

Starfall Arena is a sci-fi fantasy MOBA that offers players a high-speed, action-packed gaming experience. Designed for 5v5 battles, it shares similarities with popular titles like League of Legends (LoL) and DOTA 2 while bringing its unique flavor to the genre. The game unfolds from a top-down/isometric perspective, where two teams of players engage in intense MOBA warfare across intricately designed maps filled with formidable towers. To achieve victory in this dynamic arena, players must rely on teamwork, individual skill, and a deep understanding of the game's mechanics, particularly character abilities and how they synergize within the team. Each team has a home base for spawning and respawning, but the real objective is to destroy the opponent's towers and core through intense player-versus-player (PVP) confrontations. Starfall Arena Review: Starfall Arena immerses players in thrilling 5v5 MOBA battles against opponents from around the world. The game transports players to uncharted realms that serve as the battlegrounds for strategic showdowns. It offers classic controls with a directional joystick for character movement and action buttons to trigger various skills during combat. One notable feature is the integration of an NFT wallet, introducing a virtual currency element to enhance character acquisition, a common feature in contemporary gaming. This MOBA experience promises relentless competition and worldwide exploration for those seeking thrilling strategic encounters. Technology and Accessibility: Currently, Starfall Arena is available for Android users, and it can be downloaded directly from the Google Play Store. Registration is a straightforward process, requiring a valid email address for the verification code, which can also be initiated on the game's official website. To ensure an inclusive and informative onboarding experience, the game offers comprehensive, fully-voiced tutorials tailored to players with varying levels of familiarity with MOBAs. Community Response: The response from the gaming community to Starfall Arena has been positive. Players have noted that the game retains some classic elements from titles like Heroes Evolved while modernizing the experience. For example, instead of using vision-giving lamps, the game makes the arena itself visible and introduces bushes as in other popular MOBAs. Players have also praised the fast-paced nature of the game, and some have even boasted about undefeated win streaks, highlighting the game's competitive nature. New players have found the game easy to pick up, with clear and understandable skills, impressive animations, and engaging sound effects. However, there is some skepticism about whether the game can maintain its initial excitement and popularity as time goes on. In summary, Starfall Arena offers a fresh take on the MOBA genre, combining classic elements with innovative features like NFT integration. With its fast-paced gameplay, comprehensive tutorials, and positive community response, it has the potential to become a significant player in the world of mobile MOBAs.

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MIR4 - Game Review

MIR4 - Game Review

With MIR4, a crypto game, you start your quest by venturing into MIR's vast open universe. Join a powerful clan to take part in large-scale PVP with allies and enemies, or just hunt, collect, and make things in peace. Capture the Hidden Valley and collect taxes on the territory's profits, place a bounty on a foe and enlist the help of allies to track down your target, join a 50-player raid for some rare loot, declare war on enemy clans, and take part in castle sieges: there's a lot of things to help your character grow in the world of MIR. Whatever path you take, your tale will become legendary. You can choose between 4 different classes, so choose one that suits your style of play: Warrior: Destroy your enemies with a massive sword, Sorcerer: Use the elements to cast a spell, magic your way into chaos, Taoist: Supports your teammates with divine recovery spells, Lancer: is a special class that can defend and attack simultaneously while using a long spear. Movement and Graphics in Mir4: It's truly a gorgeous experience, with stunning graphics driven by Unreal Engine 4 and the added elegance of fluid Asian martial arts combat motions. System of Free Loot: MIR4 has designed an unparalleled free-for-all loot system in which anyone can claim the loot, including players who did not take part in the monster's defeat. Only special loot in the treasure chest is affected, and players have 30 seconds to protect the loot while others fight for the opportunity to claim it. It's not just random looting. Claiming special loots will rely heavily on strategies and alliances.

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Play To Earn Games: Best Blockchain Game List For NFTs and Crypto

Play-to-Earn Game List
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