Cosmic Champs, P2E and the Gaming Industry
gaming on mobile devices and eSports, on personal computers and online multiplayer, and on home consoles and arcades has taken a whole new level. Over the past few decades, the video games industry has rapidly changed and evolved, becoming a part of popular pop culture thanks to increased global interest and digital availability.
Gamers' status has changed as well. They are no longer regarded as misfits with swag dust smeared on their t-shirts who spend their free time playing games instead of working.
In fact, surveys indicate that approximately 3 billion individuals play video games globally, and the audience for video games, which is made up of a diverse range of people, is constantly shattering unfounded stereotypes.
Give Me the Cash!
The video game economy is currently estimated to be worth a over staggering $336 billion, making it potentially greater than all other media or digital industries combined, according to a report by BITKRAFT Ventures which took into account the following categories: cinema and entertainment, linear TV, music, and on-demand entertainment). As a result, the idea of a significant gaming profession is now not only not despised but rather promoted in so many nations. Blockchain-based games are ready to take the gaming sector to new heights as our virtual and physical lives merge and big business tries to take advantage of the metaverse's nearly limitless potential.
It's important to note that practically all gaming-related economic activity is currently centralized with various regulations. This indicates that the publishers and game creators own all of the rights to the events that take place in the game. This has a strong business case because it will result in a large revenue stream from the selling of gaming assets, subscription services, and other digital goods.
However, this also means that, for the most part, gamers lack the resources necessary to share in the value without following a career in gaming.
With the growth of the gaming industry as a whole, this conventional model of game ownership and revenue is still in use, but the advent of play-to-earn games, otherwise known as web3 games, suggests that it may be about to undergo an overhaul. Digital assets and ownership are placed in the gamers' hands using this style of gaming concept. Simply said, play-to-earn gaming enables players to make money and acquire digital goods / assets that they may sell inside the gaming ecosystem or outside of the game at their discretion depending on the development nature of the game by the developers.
Play-to-Earn Described
Online gaming is not an exception to the blockchain's impact on many industries, including music and the arts. Play-to-Earn, also commonly refer to as GameFi or P2E, empowers casual players to be a governing force driving major decisions in the gaming industry by drawing influence from Decentralized Finance (DeFi).
Play-to-Earn is just not a totally new idea; numerous PC games, like RuneScape and Diablo II, made use of it in the past. Players could gather certain in-game objects in these classic video games and then exchange them utilizing centrally controlled protocols built into the platform. However, P2E in the blockchain industry is a unique innovation. To make money more efficiently, it has sparked the development of sizable internet groups, in-game markets, and company structures. Each game has monetary incentives for participation and achievement.
Now that digital assets may be purchased as in-game tokens, gamers can turn them into real money by selling them on secondary markets like Magic Eden, OpenSea etc. These games are blockchain based by design and are run with crypto assets like NFTs (Non-Fungible Tokens).
Cosmic Champ and the Algorand Chain
To have a comprehensive grasp of the entire discussion, it is necessary to examine one NFT game after understanding the role of Pay2Earn games in the gaming business.
I'll end this by introducing you to Cosmic Champs.
Cosmic Champs is an NFT game that combines tower defense, multiplayer tactics, collectible card games, and play-to-earn gaming into a real-time fighting arena. The game is set in a retro-future when civilization has spread to the furthest reaches of the cosmos, according to partnership and strategic developments. 
NFT games can be developed on a variety of blockchains, however many projects will only consider building on blockchains like Ethereum, Smart Chain, and other well-known blockchains that enable Web3 deployment; Algorand blockchain is not one of these. Cosmic Champs is the first NFT game on the Algorand blockchain as of the time this article was being written. This is not only excellent news for gamers who favor the Algorand chain; it also paves the way for future developments.
