Ever since Facebook shone a light on the metaverse by announcing its decision to rebrand into Meta back in late 2021, the metaverse technology of the blockchain industry exploded. Facebook’s talk of the metaverse caused people to look it up, discover that there is an entire growing sector dedicated to this in the blockchain industry, and everyone started getting involved.
Of course, the metaverse tech can be used in a variety of situations. However, its strongest connection at this point in time is with the gaming industry, which is not surprising. After all, it is offering a digital world, which is what the games need, and it can be populated with NPCs and player-controlled avatars who would do various tasks, go on quests, complete objectives, and more.
This led to the rise of blockchain gaming projects of all kinds, and among them is REVV — a crypto project that acts as a utility token in games developed by Animoca Brands. Today, we wanted to review REVV, see what it has to offer, and how does it contribute to the blockchain industry.
How Does REVV (REVV) Work?
REVV is a utility token that acts as a currency in Animoca Brands’ motorsport games. The project lets users play fun games, thus building up a great experience, plus it grants them rewards for playing the games, and these rewards come in REVV tokens. As such, they are real money that can be taken out of the games and used to make purchases, or simply withdrawn and converted into fiat currencies.
The same is true with any in-game item, as they are all tokenized and exist in the form of NFTs. This is what made blockchain gaming extremely popular extremely quickly, and since REVV is so closely associated with Animoca Brands, you can be sure that it is a legitimate project that is unlikely to go out of business anytime soon.
What Problems Does REVV (REVV) Solve?
First, let’s start by looking into the solutions that the project has to offer for blockchain and/or gaming. There are a few things that we would like to point out here, including:
Maintaining the gaming economy in Animoca Brands games
The first thing to note is that, as a utility token, REVV is used in Animoca Brands’ games as an in-game currency based on blockchain technology. These currently include only motorsport games, and the token is tasked with maintaining the gaming economy. You can find it integrated into games such as F1 Delta Time, REVV Racing, and MotoGP. All of these games utilize a P2E model, which makes them very attractive to motorsport fans from all over the world.
Pushing blockchain adoption
The fact that motorsport fans are attracted by these games, as well as the prospect of earning by playing them, means that more of them will have to come into contact with blockchain technology. This is, of course, not a problem for gamers who are already blockchain enthusiasts. However, for those who are not, this will be a window into the blockchain world and an easy and fun way for them to start getting involved with it. In other words, the games and the token are pushing blockchain technology, as players will be able to earn cryptos and either uses them within the games or convert them into other crypto and fiat currencies outside of it.
Incentivizing gamers to play
Playing games has always been a fun way to pass the time for billions of people around the world. However, by involving the ability to earn while playing, gamers are bound to turn to blockchain games and potentially abandon non-blockchain games. At the very least, they now have an alternative way to play motorsports games that will grant them real money to do so.
Benefits of REVV (REVV)
Now, let’s take a look at some of the benefits that players can receive if they engage with this project and buy its tokens.
Earning crypto
As mentioned before, one of the biggest advantages of joining up with this project will be the ability to earn. All you need to do is engage with the games, and you will be earning cryptocurrency rewards, and since this token has value outside of the game as well, this is a huge incentive for players to start the games, and to keep coming back to them.
Buying NFTs
Like most metaverse games and projects this one is also strongly connected with the non-fungible tokens which come in the form of in-game items that players can purchase and use, or obtain in the games and then sell in third-party marketplaces. As such, this presents them with another way of earning money, or alternatively, upgrading their games if they opt to buy NFTs from other players and introduce them to the games.
True ownership of in-game resources
Both the REVV token and the NFTs involved with these games have value in and out of the game, which makes them different from traditional games. Let’s say that you buy skins in Fortnite or a special weapon in some other game. Once you exit the game, those items remain inside, even if you used real money to pay for them. If the game gets shut down for some reason, those items are going away, and you are left with nothing, even though you paid for them.
This is not true ownership, since these assets never truly belonged to you. Instead, you paid to gain the permission to use them, but they were, are, and always will be in the possession of the company that issued the game.
In blockchain gaming, however, things that you buy belong to you forever, or rather, as long as you own the NFT associated with these items. The same is true about in-game money. In traditional games, you can earn millions and still not have a single cent matter in the real world. However, any amount that you earn in REVV will be yours outside of the games as well, and you can exchange it for different cryptos, or sell it for fiat currencies like the USD, EUR, GBP, and alike.
Final Thought
Projects like REVV are transforming the gaming industry forever, as they are showing players that they should, and can be rewarded for playing the games with more than just a few hours of a good time. Blockchain projects are treating gamers better than traditional gaming companies ever did, as they are not simply trying to drain as much money from the players as possible before they release the next game, but are actually trying to make playing games fun and rewarding at the same time.
