Crypto games: Forging a new market trend in 2020

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The blockchain technology has witnessed an increase in the growing number of invented crypto games. The blockchain games have increased the awareness and popularity of cryptocurrencies around the world, especially in the gaming industry. In the digital gaming world, the crypto games are still in the early stages with many upcoming projects in the making to revolutionize the blockchain technology.

Fungible and non-fungible unchangeable tokens

Game developers and crypto investors have turned their focus on non-fungible tokens (NFTs). Fungible tokens are easily replaced and interchangeable. The non-fungible tokens, on the other hand, are unique with special characteristics that make them irreplaceable or interchangeable. A pioneering example of a non-fungible token (NFT) was the cryptokitties, a crypto game released in 2017 and which has attracted game developers and investors’ attention to the crypto games project.

The fungible tokens are used in the crypto community and initial coin offerings (ICOs) for their interchangeability. However, non-fungible tokens used in the cryptocurrency games development are unique and not interchangeable.

Crypto games beyond 2020

In 2019, many multinational techs and crypto companies began to draw attention to the digital assets industry, and as such, develop their digital projects. This has made the year 2020 to witness the emergence of new technological development in cryptocurrency games.

The success story cryptokitties in 2017 gave room for more digital companies to develop crypto games built around the non-fungible tokens (NFTs). As a result, the emerging trend in the crypto games market has provided an enabling environment for mass adoption and a surge in digital collectibles.

As of now, Japan is leading the crypto games development with an estimated net income of over 40 billion US Dollars. It is crystal clear that the year 2020 will witness an upsurge in the cryptocurrency games industry, even with the increase in smartphone technology all over the world.

Featured image by Pixabay.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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