What is Blockchain Gaming?

Blockchains are distributed databases or ledgers that are shared by computer network nodes. They play a vital function in preserving a secure and decentralized record of transactions., They are not just limited to cryptocurrency systems, Blockchain technology is flexible to any sector and more importantly the gaming sector, by aiding the game’s data to be immutable and decentralized. 

Blockchain gaming refers to the utilization of blockchain technology for in-game elements like the game’s assets, skin, collectibles, artifacts, and other constituents. The in-game purchases and transactions are carried out through cryptocurrencies and the gamer’s creations can be converted to NFTs.

Crypto gaming platforms make the players interactive since gamers have the freedom to design their avatar’s skin, design. The P2E game model gives gamers a guilt-free experience while also reaping profits.

Popular Crypto gaming studios like Dapperlabs, Mythical Games, The Sandbox, Decentraland, and Immutable provide a next-gen gaming platform for developers to create decentralized games. These platforms offer versatile gaming environments, interactive game characters, and futuristic game mechanics, so game developers can craft a robust gaming world.

What are the Notable Blockchain Game Components?

The blockchain gaming concept and space is still a very new phase, and with the popularity of crypto and web3 gaming, blockchain technology is being applied in the gaming sector in several ways.

It includes Video games that make use of components that can incorporate blockchain technology, for example, using NFTs for in-game elements and a variety of in-game purchases, avatars, power-ups, themes, unique collectibles, etc., 

Popular Cryptocurrencies like Ethereum, WAX, and Binance provide secure and quick payments. Additionally, playing games enables gamers to win incentives and virtual currency tokens.

Owing to the immense benefits of blockchain, many gaming studios have preferred to incorporate blockchain technology into their games as an advent to the gaming revolution.

Best Blockchain Gaming Companies 

Here is the list of the top 10 Blockchain gaming companies for 2024.

1. Sky Mavis

2. Immutable

3. PlayKey

4. Dapperlabs

5. The Sandbox

6. Uplandme Inc

7. Mythical Games Inc

8. Decentaland

9. Wax

10. The Abyss

Sky Mavis

Sky Mavis, based in Singapore, has generated more than $1.3 billion in revenue from its blockchain game “Axie Infinity”. The company is also planning to prepare for the launch of four new Web3 games on its network namely Ronin.

Axie Infinity is a trading and combat game powered by blockchain that is run and owned in part by its players. Axie Infinity is known for its in-game economy which uses Ethereum-based cryptocurrencies.

Founded in
April 2019
Headquarters
Singapore
Founders
Aleksander Leonard Larsen, Jeffrey Zirlin
Net Worth
$3 billion

Immutable

Immutable is one of the popular crypto game studios formerly known as Fuel Games which was founded in 2018 by James Ferguson, Robbie Ferguson, and Alex Connolly.

Immutable launched Etherbots and Gods Unchained, their first eSports games on the blockchain which by far is one of the most successful P2E-based Web3 games in the market right now.

The in-game economy is an element that unifies the majority of Immutable's games.

The in-game economy is a vital element that unifies the majority of Immutable's games. NFT cards and in-game rewards are earned and traded for Ethereum.

Founded in
June 2018
Headquarters
Sydney, New South Wales, Australia
Founders
Connolly, James Ferguson, Robbie Ferguson
Net Worth
$3.5 billion

PlayKey

Playkey, based in Moscow is a Russian blockchain or crypto gaming platform launched in 2014. Playkey has pioneered a new solution for gamers that has this very goal in mind: Games with a reasonably-priced opportunity to play top-rated games anytime and globally unrestrictive, using any device connected to the Internet, without necessarily purchasing a high-end PC, console, and other gaming gadgets.

Founded inMay 2012
HeadquartersPerm, Permskiy Kray, Russian Federation
FoundersAleksey Lykov, Egor Gurev, Vadim Andreev
Net Worth$14.9M

Dapperlabs

Dapper Labs, founded in 2018 is the leading blockchain gaming company behind CryptoKitties, NBA Top Shot, NFL All Day, UFC Strike, and the Flow blockchain. The company aimed for a more open and inclusive digital future, beginning with games and entertainment.

Dapperlabs uses blockchain technology to deliver NFTs and new kinds of digital engagement to fans throughout the world.

Founded in
February 2018
Headquarters
Vancouver, British Columbia, Canada
Founders
Dieter Shirley, Mack Flavelle, Roham Gharegozlou
Net Worth
$7.6B

The Sandbox

The Sandbox is one of the blockchain gaming studios that have been boosting the growth of blockchain gaming.

The Sandbox is an Ethereum-based metaverse and gaming ecosystem where players can create immersive 3D worlds, modify, share, and further permit the monetization of creations.

The Walking Dead, Atari, Rollercoaster Tycoon, Care Bears, The Smurfs, and Binance are just a few of the well-known companies that The Sandbox partners with. 

Founded in
May 2011
Headquarters
Hong Kong
Founders
Arthur Madrid, Sebastien Borget, Marcelo Santurio
Net Worth
$82M

Uplandme Inc

Uplandme, Inc. is based in Palo Alto, California, United States, and it claims to have one of the fastest-growing metaverses mapped back to the real world. In the game, "digital landowners" acquire homes and other real-world assets that are linked to those in the game, 

The game begins with the player being a “visitor” and goes on to apply for a visa every 7 days to prevent game assets from being recycled back into the game. A player can own lands and join communities to buy NFTs. Further players can explore the upland metaverse, and make money by purchasing properties.

Founded in
July 2018
Headquarters
San Francisco Bay Area, Silicon Valley, West Coast
Founders
Zuckerman, Mani Honigstein
Net Worth
$18.1M

Mythical Games Inc

Mythical, founded in 2018 is a next-generation games technology company creating an Immersive gaming ecosystem. The company believes new economies, based on digital ownership will bring players closer to the games they love.

They aim to balance tradeable digital assets for gamers that enable players, creators, artists, brands, and game developers to become stakeholders and owners in a new creator-focused game economy.

The blockchain gaming company’s team focuses on creating games around player-owned economies. Notable franchises include Call of Duty, World of Warcraft, Guitar Hero, DJ Hero, Marvel Strike Force, and Skylanders.

Founded in
April 2018
Headquarters
Greater Los Angeles Area, West Coast, Western US
Founders
Cameron Thacker, Chris Downs, Jamie Jackson, Rudy Koch
Net Worth
$101.5M

Decentraland

Decentraland aims to build a virtual land that is completely decentralized. The fungible in-game money of the blockchain-based metaverse game Decentraland is the MANA token. 

Decentraland is a community-owned, Ethereum-based Metaverse that enables users to take part in a shared online experience. It is a 3-D online game. Where players may socialize, play games, trade collectibles, and purchase & sell wearables and digital real estate through Decentraland.

Users can get onto Decentraland by a simple process of opening an account. Further, they must have the best crypto wallet for storing their digital assets.

Founded in
April 2018
Headquarters
Greater San Diego Area, West Coast, Western US
Founders
Ari Meilich, Esteban Ordano
Net Worth
$20.4M

WAX

WAX was founded in 2017 by William Quigley and Jonathan Yantis, two pioneers in the crypto industry. 

Top blockchain games including Alien Worlds, Farmer's World, Prospectors, and more revolutionary play-to-earn games can be found at WAX. 

Out of all PFP and collectible endeavors, gaming continues to be such a powerful influence on WAX that the largest initiatives on the chain are from the play-to-earn industry.

Founded in
2017
Headquarters
Cayman Islands
Founders
Brent Cohen, John Brechisci Jr, Jonathan Yantis, William Quigley
Net Worth
$5.4M

The Abyss

The Abyss platform is a decentralized blockchain gaming platform that enables game businesses to efficiently sell their games and hence generate additional cash thanks to its distinctive referral- and motivational-based system.

By utilizing this approach, players will be able to profit from in-game and social interactions (such as referring friends to new games), which will foster greater awareness of the new games developed by the Abyss platform developers.

Founded in
2017

Headquarters

Birkirkara, Malta
Founders
kondstantin boykoromanovsky
Net Worth
$8.9M

How Blockchain Gaming Differs from Traditional Gaming?

Gamers spend thousands on in-game assets and invest a lot, however, gamers end up not having true ownership of those components that they possess,  Blockchain technology offers a revolution in the digital ownership of game assets. Players of traditional games cannot convert their game assets, whilst Blockchain gaming permits users and players to convert their game assets and collectibles to tokens and cryptocurrencies or exchange them for fiat currencies.

Interesting Stats and Facts about Blockchain Games

MarketsandMarkets data predicted that the blockchain gaming market size’s revenue was 4.6 Billion USD in 2022 and is expected to reach USD 65.7 Billion at a CAGR of 70.3%  

Forbes report says the NFT trade volume grew from $135 million to $64 billion by December 2020. The blockchain gaming industry steadily rose in 2020 and even attracted 2.5+ billion in investments.

According to Dappradar, The investment in the Blockchain gaming sector has increased from 27M USD in 2019 to an immaculate rise of 7.6B USD 

Major gaming companies that founded notable games like Cryptokitties, The Sandbox, Gods Unchained, and Cryptoheroes using the Ethereum platform have forecasted that the platform is expected to have a large market size.

Create Blockchain Game with Us

As the industry-leading Blockchain game development company, Maticz comprises a hardworking team of blockchain experts who have worked in a variety of industrial sectors and have an average developer experience of more than seven years. You may benefit greatly from working with our skilled blockchain game developers, who work hard to create gaming environments that make use of cutting-edge gaming techniques. Contact us right away for iconic game development services!

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