Gaming is a $180 Billion industry that today already accounts for more than the music and movie industries combined. However, cryptocurrencies can further boost the growth of the industry becoming a fundamental layer of gaming while opening the door to crypto for millions of gamers. A win-win situation that traders and investors can take advantage of. This article offers a view on how cryptocurrencies are the future of gaming and how this will impact their growth.
How cryptocurrencies change gaming
In the last decade, video games spread throughout all sorts of devices and, today, many titles present a built-in economy fuelled by game currency used for buying and selling in-game virtual items. Unfortunately, most of the economic value created by players ends up in the pocket of the platform itself. Moreover, once a player switches to another game, all value accrued by him is lost. Cryptocurrencies have the power to break this model, expanding the revenues sources for game houses while simultaneously offering players a way for monetizing their endeavors.
Cryptocurrencies like Bitcoin or Ethereum can be used inside games to enable microtransaction and let gamers earn rewards and prizes. One of the main upsides for gamers is that, instead of earning a worthless in-game token players will earn cryptocurrencies that they can spend everywhere. Game houses, instead, will make their title much more appealing and entertaining. To date, there are already few First Person Shooter (FPS) games testing this business model where players earn satoshi (the smallest unit of Bitcoin) for every kill.
However, microtransactions are only a fraction of what is possible merging crypto and games. In fact, gaming is a massive use case for NFTs. A videogame NFT can be any item used inside a video game (e.g. skins, cars, lands), giving the platform multiple ways for monetizing their creativity. In addition, the owner of an NFT can later use it inside the game as well as exchanging, selling or renting it. NFTs create thus a secondary market both convenient and potentially lucrative for users and game houses.
Lastly, with the ascent of e-sports and live streaming platforms, cryptocurrencies enable the audience to engage and interact with the game affecting the evolution of a match. This creates a new type of gaming experience that can boost the revenues of the game-house and involve the audience as never before. For example, a game similar to Mario Kart is being developed where viewers can unlock items by paying with cryptos and dropping items to competing players.
All in all, cryptocurrencies and gaming are 2 virtual worlds that can merge smoothly and grow together. As a consequence, the blockchain networks that facilitate this integration are destined to grow providing traders and investors with fantastic opportunities. If you want to play your chances, head to cryptorocket.com and start trading with a minimum of $10 and leverage up to 1:100 all the major cryptocurrencies making the future of gaming.
This post was last modified on October 20, 2021 6:05 am
TL;DR Breakdown Polkadot price lowered another 3 percent during the day's trade Price continues to… Read More
TL;DR Breakdown: Intel is reportedly releasing a specialized Bitcoin mining chip. It will be an ultra-low-voltage… Read More
TL;DR Breakdown Singapore orders crypto ATM providers stops working.Move to regulate crypto advertising to the… Read More
TL;DR Breakdown GK8 reel out additional features to its platform.The new features can enable banks… Read More
TL;DR Breakdown The Monero price analysis is bullish.Resistance for XMR/USD is present at $214.Support for… Read More
TL;DR Breakdown Bitcoin price analysis is bearish today.BTC/USD retested $42,500 resistance earlier.Closest support at $41,000.… Read More