In the beginning, there was only Bitcoin. It had one single functionality, send and receive coins, which makes it both unique and revolutionary. Then, came the Bitcoin forks and Ethereum itself. The launch of smart contracts on Ethereum was the point, where blockchain tech started to gravitate itself in areas of public interest. Enter Chain Games.
First, it was DeFi and now it’s NFTs. Soon, it would be pure gaming. Gaming is a universal phenomenon, it’s an activity enjoyed by people of all ages and areas. Hence, it’s impact would be orders of magnitude more than what finance and art could muster so far.
The reason? It’s more fun and enjoyable. Today, we introduce the Chain Games project with the potential to revolutionize the field completely and become the next gaming blue chip. It’s one of a kind and the competition is scarce.
The gaming industry revenue was $159.3 billion in 2020 and it’s projected to be $200 billion by 2023. It’s a mainstream industry with 2.7 billion worldwide gamers. Hence, the scope of this industry on a non-custodial, fair and decentralized ledger is astronomical.
What’s Chain Games?
Chain Games is an aspiring project trying to become the go-to blockchain gaming ecosystem, all while preserving the decentralized and no intermediaries needed nature of the field. It allows gamers to compete in universal contests and competitions, across multiple open source and project proprietary titles.
The platform relies on a three pronged approach to import and enhance the number/variety of games on the platform. It has its own proprietary games, there’s an open source DApp store and the platform seeks integration with gaming studios.
Blockchain games today have extremely downgraded graphics and an abysmal user experience, Chain Games is combining smart contract powered game play to Web 3.0, attempting to offer a comparable experience to mainstream gaming.
All you need is a Web3 blockchain wallet, some tokens and you can play/compete with millions of other gamers worldwide for eSports and contests plays. It directly translates into value accrued to the native token.
Chain Games Advantage
The platform prides itself on ease of usage, simplified connectivity, no middle men proposition, rewards paid out in crypto and variety of games. It allows for a universal interface, connecting games of various types and under one cryptocurrency.
Because the Ethereum base layer isn’t suitable for high throughput and ultra-low latency operations, Chain Games has integrated itself with the Matic layer-2 solution to provide an ultra-stable and an average user friendly operation.
The native token is CHAIN, which is used for participation fees and reward payouts. It’s also used for staking, which generates rewards from 15% of the participation fees paid out by gamers.
CHAIN supply also decreases continuously, resulting in deflationary pressure, because smart contract burns 1% of the fees received for playing games. The total supply is 500M, out of which 293M tokens is in circulation.
At only 31M marketcap, Chain Games is a no brainer, considering gaming industry rakes in tens of billions every year. The project has performed exceedingly well in terms of integrations and introducing new features. It’s all set to enhance the game-play further on the platform and offer gamers new high-graphics titles.
This is likely to improve gamers attendance and thus the value spent on Chain Games, which would directly translate into the increasing price for the CHAIN tokens. Hence, it is our low marketcap pick of the week.