Blockchain games in India and the ‘’new market economy’’

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1 year ago


The video game market has drawn the attention of investors, largely because of blockchain games in India in which players earn remuneration – such as cryptocurrencies – for playing. 

And most of these digital assets have appreciated hundreds, if not thousands, of times over the past few months.

Even though the blockchain games in India seem like a mere diversion, investors are finding a form of investment in the market. 

Many developers don't create the game with the intention of paying those who play, but attracting those who want to play – this strategy is known as the “incentive mechanism”.

Genopets, and money!

The variety of blockchain games in India initiatives that make use of crypto actives continues to increase, even involving electronic games. 

The most recent example is Genopets, a game based on Solana's blockchain, which grossed US$8.3 million.

The seed investment round is the phase in which a startup starts looking for consumers who are interested in paying for its services consistently. 

It is also during this period that the raising of money from investors begins through Blockchain games in India.

What is their purpose?

Genopets intends to operate in a move-to-earn, or “move for profit” format, in which players are rewarded for the steps they take in real life. 

Non-Fungible Tokens (NFTs), which represent "animal spirits" tied to avatars, will be free.

After the user acquires their first crypto actives, they are led to choose a “virtual habitat” for their characters, which has a marketplace of additional items. 

Then, using data from cell phones and smartwatches(you probably will need these device tools for other blockchain games in India), the game will convert steps taken in real life into in-game rewards, which can be exchanged for prizes with real financial value.

What the CEO is saying about it?

Genopets CEO Albert Chen says he wants the game to encourage people to exercise by converting their walks into income. 

The investment round was led by Konvoy Ventures and Pantera Capital, with investments from Alameda Research, Old Fashion Research, Solana Capital, Xoogler Ventures, Mechanism Capital, and Animoca Brands.

Next details about the game

For now, Genopets is in a closed beta phase, in which some selected players can test the game. 

There is no date announced for the release of the final version of this game, one good strategy is to wait some time and play other blockchain games for today

The great impact of blockchain games:

Blockchain Play2earn games, owned by the fast-growing GameFi industry, are making a significant impact around the world. 

Allowing players to control their in-game assets creates a host of revenue opportunities.

India will be a pioneer country in this new industrial revolution, creating jobs and certainly improving its economy.

But first of all, research, inform yourself; if necessary, use social media to check the official game data.

These blockchain games in India will amaze you with their gameplay, simplicity, and security.

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1 year ago