Defi Kingdoms‘ popularity grows among its peers
According to Dapprada, Defi Kingdoms, a play-to-earn game that incorporates non-fungible tokens (NFTs) as part of its structure, is gaining traction amid the group of blockchain games that are coming out following the recent Web3 hype.
The game, which also includes purely decentralized finance activities that users can harness without playing it, like staking and liquidity mining, has also experienced a rise in the value of its native token, JEWEL. The price of the token touched ATH values today, breaking the $20 dollar mark amidst a general slump in the cryptocurrency market.
According to Dappradar, the activity on the game has risen considerably. This is also accompanied by the rise in the price of its native token, JEWEL, issued on top of the Harmony blockchain, a token that reached all-time high (ATH) levels in a sideways market.
Decentralized gaming is on the rise
In a letter he wrote, Yosuke Matsuda, president of Square Enix, said last year was the year of NFTs and the metaverse. While smaller companies have been creating games inspired by these concepts before, last year was when the industry actually began to embrace these concepts.
Axie Infinity became one of the most played decentralized games during this year, due to its play-to-earn mechanics that appealed to people with low incomes in countries like the Philippines and Venezuela, that perceived a higher income playing these than by occupying normal jobs in their countries.
Due to this success, traditional gaming companies (like Square Enix and Ubisoft) are now trying to introduce these elements into their gaming ecosystems, proposing to create token economies and marketplaces that would allow these universes to be self-sustainable in the future. However, AAA gaming companies have not released an installment of a major franchise integrating NFTs yet.
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