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What Makes the BEP-1155 Standard So Great for Blockchain Games? -Breaking

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The BEP-1155 Standard is a great choice for Blockchain Games.
  • Here’s the importance of the BEP-1155 Standard for blockchain games.
  • The BEP-1155 Token standard deserves a deeper dive.
  • According to reports, (AXS), AXS became a leader in Play-to-Earn Games.

If you’re a developer in the blockchain space, it is important to know what token standards are. Essentially, these standards are a set of rules that a token or a blockchain project follows to be compliant with the blockchain’s operations.

It has been obvious over the years that Ethereum is the preferred blockchain for developers. With its wildly popular ERC-20 standard, Ethereum now supports some of the world’s most popular assets, including USDT, ETH, and more. There was an interesting shift in last year’s market. Binance’s Binance Smart Chain, (BSC) kicked things into high gear. This gives developers an opportunity to work within the ecosystem to expand the space for growth.

Binance Smart Chain, like Ethereum itself, relies heavily on token standards in order for things to work. BEP 1155, one of these token standards, is an example.

Understanding the BEP-1155 Standard Token Standard

The BEP-1155 standard was created to enable developers of Decentralized Finance (DeFi) protocols as well as non-fungible Tokens (NFTs). It works as a proper combination of crypto and NFTs in particular, bringing together the features of Binance’s BEP-20 and BEP-721 characteristics.

The primary token standard on the Smart Chain is BEP-20 – a standard that especially enables the function of cryptocurrencies themselves. BEP-721 is a token standard that emphasizes NFT. This allows token developers to work on the Smart Chain. BEP-1155 can also be used. You can combine the two. This means that its application is prominent in different areas – such as gaming.

Blockchain Gaming and its Growth in 2021

There are many buzzwords and trends that can be applied to crypto. DeFi growth and institutional cryptocurrency investments were synonymous with 2021. Concepts like NFTs and blockchain gaming took over the market in 2021.

Blockchain gaming is pretty simple – building games on the blockchain where players get rewards and compete for points. Blockchain gaming can be beneficial because it allows for governance within these ecosystems, and offers the possibility for more secure gameplay.

Also, blockchain games are known for their support of Play-to-Earn model. Players compete to win points to gain valuable items.

The 2021 smash hit play-to earn has gone beyond the surface.

The premise is simple – people play games and compete for specific points. Once they get the points, they are rewarded with anything – collectibles, discounts on services, or NFTs.

NFTs have been a key catalyst for blockchain gaming growth. You can earn NFTs by playing games, or you can also sell them on an external marketplace.

You could even have the game itself set up an NFT market where NFTs are traded and sold. Players are addicted to the game. Players come to play for fun and also the chance to make money. It’s the perfect win-win situation for anyone who loves gaming. In 2021, several play-to-earn games saw massive adoption. The following are some of these:

Axie Infinity – AXS

Axie Infinity is blockchain-based game. It takes place in a virtual universe. With Axie Infinity, players breed digital pets – known as Axies. Players can battle with their Axies against each other, while the winner gets NFTs.

Axie Infinity, the leader in blockchain-gaming today, is Axie Infinity. Besides the NFTs that players get, they also win tokens – either Smooth Love Potions (SLP) or Axie Infinity Shards (AXS). AXS functions as a native token for the Axie Infinity ecosystem, and holders get to enjoy the different benefits you can expect – governance, discounts, tradability, and more.

All eyes are already on Axie Infinity as we move into 2022. It is gaining huge traction around the globe and could prove to be the ultimate in blockchain gaming.

Cryptosnake (SNK).

It isn’t as popular as Axie Infinity, but Cryptosnake has a lot of potentials. Cryptosnake was developed on the Binance Smart Chain and is the first Blockchain game that works with the BEP-1155 token standard.

Cryptosnake uses NFTs in combination with DeFi to create the ultimate blockchain game. It is based on the classic “Snake” game, where players control a snake to take points. You can earn real cryptos instead of just points.

The more you win, the larger your snake will be in the game. Players also get to compete for unique NFT artifacts as well as the game’s SNK tokens. Many will find the opportunity to make crypto while still earning passive income appealing.

Illivium (ILV)

Illivium (a role-playing game) is built using the Ethereum blockchain. Open-world allows you to explore a virtual world and battle or capture different characters.

Illivium lets you create your own characters and work with other players to compete against the best. You can earn the game’s in-house token – $ILV – through your gameplay.

There is more room for growth in 2022

These games, and many more, are ushering the age blockchain gaming. Heading into 2022, it will be interesting to see how they build on the successes they’ve had in 2021 and how they can optimize their ecosystems for more players.

Many games already take advantage of this concept by creating worlds and rewarding their players with impressive rewards. They have a great opportunity in this area. The BEP-115 standard makes blockchain gaming possible.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. The information contained in this article shouldn’t be taken as advice. CoinQuora advises its users to research cryptocurrency before making any investment.

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