Crypto gamers spent $1 million to purchase virtual land

Crypto gamers spent million to purchase virtual land

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Blockchain and digital currencies can be considered a perfect fit for the gaming industry. As gaming and entertainment move towards virtual reality, crypto can prove to be the best medium of exchange for the digital world. People have started noticing it, and over the last week, one million dollars in crypto have been used to purchase virtual land across digital games.

Crypto gamers

Blockchain technology is no longer just a platform for cryptocurrencies, but has become one of the revolutionary technologies with myriads of uses and more being discovered every day. The technology has multiple use cases in the video game sector, and there are a number of games built on a blockchain platform.

Across the last seven days, an incredible amount of investment took place in the virtual property platforms. As per a medium post, crypto gamers spent over one million dollars to purchase virtual space across three blockchain-based games: Decentraland, The Sandbox, and Cryptovoxels.

Decentraland attracted the greatest investment and saw an influx of over 600,000 dollars from gamers wishing to purchase real estate in the game prior to the game’s official launch on February 20. Crypto gamers are able to purchase virtual names secured through the Ethereum Name Service domain and are able to buy digital clothing and other accessories.

The Sandbox and Cryptovoxels saw the influx of 168,000 and 204,000 dollars, respectively. 

Cryptocurrencies are being integrated into other sectors of the video game industry as well. Earlier this month, a new Minecraft Server, SatoshiQuest, went live. The server allows players to participate in a Bitcoin treasure hunt. The reward comes from a $1 BTC fee that is required to partake in the hunt.

Featured image by pixabay.

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Ahmad Asghar

A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.

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