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But a part of gaming that really "flourished" during this period is the Crypto Gaming companies, which raised investments of almost $ 500 million in the first half of 2021.

According to a recent report by InvestGame, a gaming platform, a total of 24 crypto / blockchain gaming companies raised $ 476 million. Three of them covered 75% of the total investments.

These are Forte from San Francisco, which raised $ 185 million, Animoca Brands, which designed one of the most popular games, "Sandbox", which raised $ 89 million, and Mythical Games, the startup from Los Angeles, which raised $ 75 million. .

The deals closed in the first half of 2021 by blockchain gaming companies represent 5% of the total deals announced in the gaming market, while they represent 9% of the $ 50.2 billion raised by the industry during the same period.

After cryptocurrencies came crypto-video games
For the time being, blockchain gaming is still a very specialized and expensive space that is difficult to "open" to the everyday player, but considering that crypto gaming accounts for 9% of the total value of investments in the gaming market in its first six months year, there is still much room for growth.

But what is crypto gaming?

Blockchain technology is well known mainly because it is used to develop well-known cryptocurrencies such as Bitcoin and Ethereum. One of its advantages is the security it offers through their labyrinthine encryption, making it easier for someone to clone a sheep than to "copy" a cryptocurrency.

So blockchain video games are video games that use blockchain encryption technology. In addition to the security they offer to their users, it is also a way to "open" the cryptocurrency market to online gaming users. How is this done? Using cryptocurrencies in in-game transactions.

Objects acquired by a player in a crypto-video game (such as weapons, XP - experience points, etc.) now have a specific value that can be transferred from one player to another. For example, a player who has finished a game for a long time can sell his XP (experience points, ie the reward that the characters receive for achieving goals, overcoming obstacles or opponents) to a new player.

Video game companies are already facing the problem of hacking with many experts trying to "break" the games to gain an advantage in online gaming. The existing technology is not safe enough to prevent such incidents, and it is considered difficult to host a marketplace that includes transactions of millions.

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Digital cats that are worth a lot

One of the most popular blockchain games is CryptoKitties developed by Dapper Labs and released in 2017. At CryptoKitties players use ethereum to buy NFT with collectible digital cats. NFTs are non-exchangeable currencies used in games, digital IDs, certificates, works of art. It is essentially a collectible asset that is exchanged based on the value that people give it.

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By this logic, the rarity of attributes determines value. So how much could an NFT of a cartoon cat be worth? The answer is up to $ 170,000, as much as a player paid for a cat in CryptoKitties.

Sebastian Borget, co-founder of Animoca's The Sandbox game, noted that the first blockchain games proved that they could attract players on a large enough scale to generate high revenue. "The play-to-earn logic is more than an idea when a game with 350,000 active users generates $ 25 million a day," he said. "If you were a venture capital fund, the number of opportunities left to invest in a game / product / team is definitely declining. So no one wants to miss the 'next big thing' that will 'lift' the industry next 10 years ".

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