What makes the BEP-1155 standard so suitable for blockchain games?Offered by CoinQuora

What makes the BEP-1155 standard so suitable for blockchain games?

  • This is the importance of the BEP-1155 standard to blockchain games.
  • It is worthwhile to delve into the BEP-1155 token standard.
  • According to reports, AXS has become the industry leader of Play-to-Earn Games (P2E).

If you are a developer in the blockchain field, it is important to understand what token standards are. Essentially, these standards are a set of rules followed by a token or blockchain project to comply with the operation of the blockchain.

Over the years, it has been obvious that blockchain is the first choice for developers in this field. With the popular ERC-20 standard, Ethereum now supports some of the most popular assets in the world, including USDT, ETH, etc. Interestingly, some changes have taken place last year. Binance has initiated rapid development with its Binance Smart Chain (BSC), which provides developers with another opportunity to build in its ecosystem and contribute to the expansion of growth space.

Like Ethereum, Binance Smart Chain (BSC) itself relies heavily on token standards to make things work. One of these token standards is BEP 1155.

Understand the BEP-1155 token standard

The BEP-1155 standard mainly focuses on developers supporting decentralized finance (DeFi) protocols and non-fungible tokens (NFT). It is particularly suitable as an appropriate combination of encryption and NFT, combining the features of Binance’s BEP-20 and BEP-721 features.

The main token standard on the smart chain is BEP-20-a standard that specifically supports the functions of the cryptocurrency itself. The BEP-721 token standard focuses on NFT, allowing token developers to build on the smart chain. In addition, there is BEP-1155. This standard allows you to combine the two. This means that its applications in different fields are very prominent-such as games.

Blockchain games and their growth in 2021

Encryption trends are susceptible to different trends and buzzwords. 2021 is synonymous with the growth of DeFi and institutional encryption investment. However, by 2021, concepts such as NFT, blockchain games, and meta-universe have swept the market.

Blockchain games are very simple-build games on the blockchain, and players can get rewards and compete for points. Blockchain games have multiple benefits, including its ability to allow governance in these ecosystems and the potential for safer gameplay.

Blockchain games are also eye-catching due to their promotion of the Play-to-Earn (P2E) model, in which players can compete for points and earn actual valuable items in the game.

In 2021, earning income through games is not only a big hit.

The premise is simple-people play games and compete for certain points. Once they earn points, they will receive any rewards-collectibles, service discounts or NFTs.

The introduction of NFT into the game earning model is one of the biggest catalysts for the growth of blockchain games. Players can play games and receive NFTs as rewards, and they can sell these NFTs on the external market.

Alternatively, the game itself can have an internal NFT market where these NFTs can be traded or sold. In this way, the player becomes addicted. They come to play for fun, and an opportunity to make money. For those who like games, this is a perfect win-win situation. In 2021, several games won a lot of adoption. These include the following:

Infinite axis (AXS)

Axie Infinity is a blockchain game that takes place in a virtual world. Through Axie Infinity, players can breed digital pets called Axies. They compete with other players for Axies, and the winner can take the NFT home.

Today, Axie Infinity has become the industry leader in blockchain games. In addition to the NFT obtained by the player, they will also win tokens-Smoothing Love Potion (SLP) or Axie Infinity Shards (AXS). AXS runs as the native token of the Axie Infinity ecosystem, and holders can enjoy the different benefits you can expect-governance, discounts, tradability, etc.

Entering 2022, all eyes will be on Axie Infinity. The game platform has gained huge traction on a global scale, and it is easy to prove that it is a perfect iteration of blockchain games.

Encrypted Snake (SNK)

It is not as popular as Axie Infinity, but Cryptosnake has a lot of potential. Cryptosnake is built on the Binance Smart Chain and is the first blockchain game to use the BEP-1155 token standard.

Cryptosnake combines NFT and DeFi to create a perfect blockchain game. It is based on the classic “snake” game, where the player controls the snake to get points. However, you actually get real cryptocurrency, not just points.

As expected, the bigger your snake is in this game, the more points you will get. Players can also compete for unique NFT artifacts and SNK tokens in the game. The opportunity to earn cryptocurrency and still earn passive income is certainly something that many people cannot resist.

Ilivim (ILV)

Illivium is a fun role-playing game (RPG) based on the Ethereum blockchain. The open world game allows players to shuttle in the virtual world, fighting and capturing different characters as they level up.

Illivium allows you to build your own character, collaborate with others when necessary, and compete with the best people in the world. You can earn the game’s internal token-$ILV through your gameplay.

More room for growth in 2022

All these games and more games are ushering in the era of blockchain games. Entering 2022, it will be interesting to see how they can build on their success in 2021 and how they can optimize the ecosystem for more players.

Some games have begun to use the metaverse concept to build the world and provide players with impressive rewards. In this regard, they also have opportunities. To make a long story short, blockchain games that meet the BEP-115 standard are promising.

Disclaimer: The views and opinions expressed in this article only represent the author and do not necessarily reflect the views of CoinQuora. Any information in this article should not be construed as investment advice. CoinQuora encourages all users to conduct their own research before investing in cryptocurrencies.

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