Tips Before Playing Blockchain and Web3 Games

Additional reporting by Michael Mislos

The emergence and popularity of Axie Infinity in 2021 has sparked the interest of Filipinos in trying out new web3 and blockchain games. However, players and investors should still take precautions when entering this new ecosystem as fiat or real-world money could be involved.

In a recent BitPinas webcast, Gabby Dizon, co-founder of the web3 gaming guild Yield Guild Games and a gaming veteran with 20 years of experience, shared some tips for web3 gaming enthusiasts before they try out blockchain games.

This article is part of the Road to YGG Web3 Games Summit series (W3GS), happening this Nov. 18 to 25, 2023. To know more, please visit: https://ygg.events/

1. Conduct Thorough Research

Before diving into any blockchain game, thoroughly understand its mechanics and economics. This knowledge is crucial in preventing expensive errors.

2. Beware of Unrealistic Promises

Games promising high returns with minimal risk should be approached with skepticism. Such scenarios, common in other sectors as well, often signal potential scams or high-risk investments.

Simply, if it’s too to be true, it probably is not true.

3. Explore Free-to-Play Options

Many blockchain games offer free-to-play versions. These serve as an excellent introduction to blockchain technology, offering a risk-free environment to learn about cryptocurrencies, NFTs, and blockchain infrastructure.

Try out the blockchain games without paying yet.

4. Start with Small Investments

In cases where a free version isn’t available, begin with minimal investment. Get a feel for the game before committing significant funds, and remember to only invest what you can afford to lose.

5. Avoid FOMO-Driven Decisions

The hype surrounding popular games can lead to hasty, uninformed decisions. Make choices based on thorough research and personal financial goals, rather than fear of missing out.

6. Join a Gaming Community

Participating in a gaming community or guild provides access to diverse perspectives and mentorship, enriching your gaming experience. The right community can elevate your skills, expand your network, and enhance your financial strategies.

Navigating the Blockchain Gaming Landscape

To thrive in blockchain gaming, it’s crucial to research thoroughly, be wary of too-good-to-be-true promises, start with small commitments, and engage with supportive communities. These guidelines foster informed, safe, and community-driven involvement in this evolving arena.

Read more articles about YGG and the Web3 Games Summit here:

This article is published on BitPinas: Tips Before Playing Blockchain and Web3 Games

Disclaimer:

• Before investing in any cryptocurrency, it is essential that you carry out your own due diligence and seek appropriate professional advice about your specific position before making any financial decisions.
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