Crypto community

Cryptocurrency games

This is one of the methods of earning on cryptocurrency without investments (although it is possible to do them). Some games resemble the principle of crypto faucets, where you need to receive cryptocurrency once in a certain period of time, only all this is done in a game form.

Others are more like online casinos, where the result depends on winning or losing. This is the choice of people with strong nerves and a propensity to take risks. As a rule, crypto casinos are more convenient than traditional projects, because they do not require any personal information from the user and do not conduct any checks.

It should be remembered that this industry is completely unregulated. Whatever losses there are in the process, law enforcement agencies will not be able to help. There is a fairly large selection of cryptocurrency games for Android. Earnings from them are small, but the efforts are minimal.

What is Web3?

Web3 is a concept that involves the use of decentralized infrastructure and token incentives to launch modern services on the Internet. Previously, services personally created content, which they then tried to monetize with the help of various promotional integrations on their resource. This is quite an expensive pleasure, since content creation is a complex production process. The greater the competition, the more you need to improve your material to maintain profit – this is difficult.

At some point, golden minds realized that you do not need to create content yourself, you need to create conditions for people to create it themselves. At that moment, social networks appeared – the most powerful source of personal content. Any social network forces you to interact with people, try to comply with accepted norms, participate in the virtual world. The more a social network is used, the more technical information a person leaves about himself.

If it all started with the banal collection of IP addresses, matching geolocation, device type, and so on, now special algorithms are used based on self-learning systems that constantly monitor what content you like, what you linger on more, what users you are subscribed to, what transactions you make and much, much more.

Personal data of users serves as a basis for the work of special marketing tools that simplify the sale of goods and services for companies. It is possible to identify separate groups of people who are most likely to be interested in the advertising offer and thus effectively spend the advertising budget.

Based on personal data, the algorithm provides the most relevant content for the user, creating a state of flow that is difficult to exit. This is the moment when you seem to have opened the feed for 5 minutes, but an entire hour has passed. While you are viewing the content, the system throws out advertising offers that relate to the topics that interest you. The algorithm is always learning and adapting to your new interests. This is an endless process.

A vicious circle. Personal data is used as a basis for marketing tools, at the same time to keep your attention by adjusting the algorithm. At this time, you are sold even more services and goods. It turns out that services use user content that they do not actually own, collect personal data from users when interacting with this content in order to show increasingly relevant content, and receive money from companies for using tools based on personal data to achieve their goals.

Yes, you can always say that services support the infrastructure, create a convenient product, release updates – this all costs money. However, the huge profits of technology corporations indicate that they are not such altruists. People’s dissatisfaction with this business approach, as well as the mass leaks of secret government documents (PRISM), showing that people are being totally spied on using the Internet, led to the emergence of a new concept of the Web3 Internet.

Web3 games and the P2E model.

Starting from 2017-2018, the crypto market began to actively develop in breadth. A large number of projects appeared that are trying to create a decentralized analogue of a similar product from the technology sector.

For example, such attempts can be divided into separate segments:

Traditional finance (TradeFi) -> Decentralized finance (DeFi).

Centralized exchanges (CEX) -> Decentralized exchange (DEX).

Fiat money -> Stablecoins.

Corporations —> Decentralized Autonomous Organizations (DAO).

Classic Games —> Web3 Games (GameFI).

Web3 games are a segment that uses decentralized solutions to financially incentivize players and build modern ecosystems. Players can own and control their game assets stored in the blockchain. This means that players have full control over their assets and can transfer or sell them at any time. Most often, they talk about P2E (Play-to-Earn) – this is a concept aimed at creating an in-game economy that allows you to receive a reward from the project for gaming activities.

Most people consider Web3 games (GameFI) and Play-to-Earn to be the same thing, but these concepts should be separated. GameFI is a segment that uses blockchain technology to improve and expand the capabilities of classic games. P2E is part of GameFI, as one of the solutions for improving games. The attention to the Web3 games segment increased after the success of the game Axie Infinity. The project demonstrated the first mass P2E model of stimulating players.