The growing popularity of cryptocurrencies is encouraging most industries to incorporate this revolutionizing technology into modern products and services. Online gaming is one of the major industries that took advantage of this changing world scenario. Developers all around the world are looking for innovative ideas to leverage cryptocurrencies for the users to buy in-game products, unlock special features, and so on.
With the spread of COVID-19 in 2020, many industries had a hard phase and many of them were shut down. It was the gaming industry that experienced an unexpected flourishing. The lockdown all over the world made people rely on gaming for entertainment and to forget the stressful situation happening outside.
Growth in crypto gaming
As mobile phones and PCs increased their performance with advanced technologies, there was an increase in the crypto interest in the gaming industry. Now, crypto games are attracting more users than traditional games as players can earn while playing. Thus, their effort and time do not go wasted.
A study on online gamers found that about 75% of gamers were ready to exchange virtual assets for a popular currency they can use on multiple platforms. This is what crypto gaming offers. Traditional gaming makes use of in-app purchases, affiliate marketing, and in-app advertising for monetization. Crypto gaming helps users to bring some value to what they purchase. Crypto games will make use of a distributed ledger to store tokens. This ledger is called blockchain and it is what allows gamers to trade the in-game products for various cryptocurrencies. These crypto-assets can be then converted into native currencies. If gamers are interested in actual crypto trading, it is also quite easier with various trading bots. But it’s better for users to run the automatische trading software test to find the legit platform.
In-app purchases in a traditional game can be used by players to buy extra lives, coins, outfits, custom characters, etc from the game. In crypto gaming, the players will use cryptocurrency to purchase in-game products, and sometimes, they even buy a cryptocurrency itself. The biggest difference is that the traditional games will have a central developer who gets the benefit of all the products sold and gamers do not gain anything. Also, the players will not have any control over the game life cycle in traditional games. Crypto games have a completely different approach. It has a decentralized operation and the assets of the players are distributed globally and are not limited only to gaming.
Chance to earn money
The crypto games run on a cryptocurrency network with a distributed ledger architecture. Players will have complete ownership over all the virtual in-game products and they can trade these products in exchange for cryptocurrency, which can be further converted into fiat currencies. The games before cryptocurrencies were all aimed at providing entertainment. But crypto games have changed the whole scenario. Players, now, can earn some money along with enjoying their games. CropBytes, Axie Infinity, and Gods Unchained are the most popular crypto games that allow gamers to earn money with the help of virtual products to fulfill the in-game missions. The popularity of crypto casinos also looks set to continue growing in the future as more players become interested in the benefits of using cryptocurrencies for online gambling. This is what attracts more and more gamers into the world of cryptocurrency.