With the rise of Blockchain gaming, NFT’s and the play-to-earn trend. Many new projects spring up to grab their market share. One of the projects that have been around since 2020 and has all of these elements is Chain Games. What makes them different? What makes their token valuable? And why does Chain games have a future in the blockchain gaming space? We will answer it all in this blog where we take a look at everything around Chain Games and their CHAIN token.
What is Chain Games?
Chain Games is a blockchain gaming company that unlike many other games as Axie Infinity does not just create one play-to-earn ecosystem. No, what Chain Games (CG) is building are many games of skill ecosystems that are all based around their CHAIN token. Games of Skill means that players will have to compete with each other to win prizes. Players can set these prizes themselves, as the prize pool is mostly made up of the buy-in fee players deposit before playing. This allows good (professional) players to make money by playing games and showing off their skills. A quick example. So let’s say you are playing the game ChainO (basically Uno but with their system integrated). You can join the game for 1$ (or more if you want), and compete against another player for the same amount. The winner of that game will automatically receive the other player’s money minus the platform fees.
Is this Gambling?
A question many people ask at first. But the answer is simple, no. Whereas with gambling the winning party has to depend completely on luck. For CG this is not the case as players can rely on their own skills. So playing in a game like this falls into the same kind of category as sports competitions.
Creating more forms of income for gamers
Currently, professional games have basically 2 ways of making a living. You either put yourself in front of the camera and hope people online will like you, or you reach the ultimate top and play for huge championships. But for all of those that did not reach that level of gaming yet, no other option exists. Till now. What Chain Games really offers here is a way to let good gamers earn an income without having to become the best of the best. Just a more than average skilled gamer could already make some profits by playing games. On top of that, you do not always need to put up funds to start competing. Because some games have a play to earn model at the same time. You can also just play, earn, and then compete if you would like. Or even join a free tournament with sponsored prizes. So you can just show off your skills for free and earn at the same time!
Integrating Chain Games
Now all CG has a lot of games that they build themselves. But they also run their software on top of other games like Call of Duty, FIFA, Madden, NBA, and many more. So you can play many of your favorite games. Next to that, they give the option to other game developers to integrate directly into Chain Games. This lets users play and earn at the same time. But also gives an extra stream of revenue to the game developers as they can take a part of the platform’s fees. As you can imagine this win-win makes playing games more lucrative for both the creator as well as the player. Their SDK for game developers is not yet released to the public as of now. But we can expect it to come soon. When this goes live basically any game can just plug into the Chain Games ecosystem, utilize the Chain token. And make their games more interesting to play.
Chain Games, Games
Chain Games really has two parts to it. Its web 3.0 decentralized ecosystem and the Chain Games gaming studio. Although the company works on both these things of course. But the gaming studio has been working on creating their own play-to-earn or play to compete, games. Because these games are developed by CG themselves, they of course have the web 3.0 CG features built into them. Currently, you can play only 2 of their games. But they already teased many others coming soon. The current 2 games you can play are ChainO and Super Crypto Kart. Chaino we already talked a little about before. But Super Crypto kart works in a similar way to Mario Kart but then with crypto features. This also means that the game can give you special Karts when you hold the NFT for that card. Or you can receive NFT’s for achieving something in the game. How much these types of NFT’s will be worth in the long term is always a good question. But we can imagine that players would prefer to earn rewards in-game against not earning rewards.Check out the best wallets for NFT’s here. So you can store them in the right place!
Chain Games Partners
Chain Games launched its Chain token through the TrustSwap launchpad. Which is also one of the current partners that CG has. Although CG could technically speaking partner with many other parties they currently only have a few public partnerships. These partners include TrustSwap, Atari, and Transak.
The relationship with Transak works quite simple. For Chain Games, user onboarding needs to be as simple as possible. So to have everyone buy tokens on a crypto exchange and then play with it would be too difficult. This is solved by using Transak’s services and having a direct fiat onramp into the games. This way normal players can simply pay for the games using their credit card. Making the time needed to start playing much shorter.
One of their most interesting partnerships as of now is 100% the one with Atari. Because the gaming giant Atari has been focussing on a comeback to the public by building their games around web 3.0 and the Metaverse. Atari does this by building Metaverse casinos and putting their games on arcades within the metaverse. And we can expect them to do more in the future. Now, where it becomes interesting is that Atari will integrate Chain Games on top of most of their games. Bringing the Atari game players also to the Chain Games ecosystem. However, do note that many of these plans and games are still being developed and not everything is live yet. But definitely check out the Atari and Chain Games Twitter, Reddit, Facebook, etc to see how their progress is going.
The CG ecosystem is completely built around the CHAIN token. This token functions as the medium of exchange on the network. So when a player wants to play a game for 1$. They will have to put up 1$ worth of chain tokens. From the number of tokens put up by all players, a small percentage will be taken as the network fee. This fee or the revenue will be used for 3 main things 1% goes to a burner address. Meaning CHAIN is essentially deflationary. And the more games will be played the more the token supply will decrease. Then another 15% will be distributed to the Chain token stakers. Giving them some worth for holding the token. And the rest will go to the Chain Games contract owner, AKA the team.
Chain Games Staking
To benefit from Chain Games if they become a success you will have to stake their token. This way 15% of the paid fees will go partly to you. Staking Chain can be done with almost any amount of tokens and can currently be done on either the Ethereum or Polygon blockchain. But CG also announced that they want to make this possible on BSC and other blockchains in the future. Besides making you earn more Chain tokens when you stake the token. You can also earn some extra funds from their drops. Although there is no guarantee that these will happen. During the last year, the CG team has airdropped multiple millions of tokens to their stakers. Rewarding them to keep staking as they roll out more games and features to the platform. You can check out their staking dashboard here. Do keep in mind that when you stake their token your funds will be locked within the smart contract for at least 7 days. Because the withdrawal time for staking is 7 days. This creates a bit more stability in the price of the token and the number of constant stakers.
Buy Chain Games
Because CG is still quite a new project, not many exchanges have listed their token. This means that if you want to buy it you will have to mostly go to DEXes (decentralized exchanges). Currently, you can find the CHAIN token on PancakeSwap (BSC), UniSwap (Ethereum), and QuickSwap (Polygon). As the project grows, more games come out and everyone starts to play their games. We can expect more centralized exchanges to also list their token. As for now, some centralized exchanges do have a CHAIN trading pair. These exchanges are Lbank, MEXC, Probit, and the biggest of them all Gate.io. If you want to play some of their games you can either choose to play free matches or play for a price. Because all these prizes are always in Chain you will need some of their Chain tokens. To get your hands on some you can use one of the centralized or decentralized exchanges we mentioned above. If you wonder how to buy Chain Games tokens in the future. Then check out their website where they also give you that information.
A little disclaimer
One thing we can not stress enough. We at Yada Wallets do not give out financial advice. If you want to buy the Chain Games token, only you hold the responsibility for your money. Prices of cryptocurrencies and crypto tokens can go up or down like any other sellable thing. Chain can go to 5 dollars or to 0,01$. We do not make Chain Games price predictions and only you are responsible for buying or selling the token at all times. Please keep this in mind.