Crypto and the Growth of Video Games

Cryptocurrencies and the blockchain technology that lends these coins sustenance are now part of almost every process of innovation. The presence of this technology encompasses all; from online payment solutions to supply chain management, from cab-hailing services to gaming circles. The coins’ influence on games already is far-reaching. And, they now play a big part in the revolution of the gaming sector.

Despite the traction that crypto has gained in the gaming sector, you are a lot less likely to hear the established coins being associated with this growth. Instead, game programmers are launching their digital currencies that tech-savvy, modern-day gamers relate with. You may be wondering why these relatively less-known tokens are reshaping the gaming scene.

Well, here are a few ways that gamers are using to carve a space for these cryptocurrencies into the gaming space:

Tokenizing In-Game Assets

Initially, games had all manner of incentives and points that though meaningless, excited players. Collecting more of these points elevated a player to the upper echelons of the game. Game developers have reengineered this premise by introducing incentives that have actual value.

By tokenizing in-game assets, developers make the most of the cryptographic accounting system, and they turn game tokens into real assets that can be sold, bought, and even traded outside the precincts of the games in question.

Rewarding Gamers with Cryptocurrencies

A few games now have reward schemes where gamers earn tokens which they can use to buy in-game assets. This move, however, is not all. These cryptocurrencies can be held in wallets and be traded on crypto exchanges.

This approach is increasing. Soon, more and more gamers will earn crypto tokens that have real-world value.

What makes it so easy to integrate crypto into the various games?

• Cryptocurrencies are popular and embedding the idea of cryptography in the various games that have adopted them makes the games fashionable. Because every gamer is eyeing the chance of having his or her game go viral, everyone wants to tokenize an aspect of the game since doing so boosts the chances of any game becoming a hit.
• Crypto and gaming are a perfect match in more ways than one. Both industries are almost tied in the number of innovations, development, and growth attained over the past few years. Also, the demographic that is interested in crypto is the very same age group that is invested in video games.
• Players get benefits that have real-life value. Most gamers play to pass time while entertaining themselves. However, there are efforts to monetize the pastime but with little success; a conundrum that cryptocurrencies have cracked wide open.

The marriage between cryptocurrencies and video games is a straight one. Each partner seems created for the other. In this relationship, the crypto space gets to attract a horde of potential new investors while gamers get a real shot at monetizing their hobbies; win-win!