Crypto and blockchain technology are slowly but surely seeping into every industry, and the gaming industry is no exception, with wagers on taking the lead. There are already several ways cryptocurrency is being used in gaming, from in-game items bought and sold to entire gaming platforms that run on blockchain technology.
Here are the most exciting ways crypto is being used in gaming today.
In-Game Items as Cryptocurrency
One of the most widely known ways in which cryptocurrency is being used in gaming is as a way to trade in-game items. Game items bought, sold, or traded using cryptocurrency are often called “crypto items.” The most popular game supporting crypto items is CryptoKitties, which allows players to buy, sell, or trade virtual cats.
However, other games are beginning to keep crypto items, such as Decentraland, an Ethereum-based virtual world that allows players to own virtual land, and Gods Unchained, a trading card game that runs on the Ethereum blockchain.
Blockchain-Based Gaming Platforms
Another way cryptocurrency is being used in gaming is through blockchain-based gaming platforms. These platforms use blockchain technology to power their games or allow players to buy, sell, or trade game items using cryptocurrency.
One of the most popular blockchain-based gaming platforms is Blockchain Cuties, a game that will enable players to own, collect, and trade digital animals.
Other popular blockchain-based gaming platforms include Spells of Genesis, a trading card game, and Ether Kingdoms, a strategy game that allows players to mine cryptocurrency.
In-Game Microtransactions
Microtransactions are a controversial topic in gaming, but some developers still need to incorporate them into their games. And in some cases, these microtransactions can get made using cryptocurrency.
The most popular game to include cryptocurrency microtransactions is Farmer’s Dynasty, a PC game that allows players to buy in-game items using Bitcoin. However, other games, such as Void Tyrant and Worldopo, enable players to make in-game purchases using cryptocurrency.
Cryptocurrency Mining
While not all games allow players to mine cryptocurrency, many games do. The most popular game to allow cryptocurrency mining is Crypto Mining Game.
This browser-based game allows players to mine for various cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and MONERO. However, other games also allow players to mine cryptocurrency while they play.
Gambling and Betting
Gambling and betting are some of the most widely known games in the world, and cryptocurrency is also beginning to make its way into this industry.
One of the most popular cryptocurrency gambling games is Primedice, a dice game that allows gamers to bet on the outcome of a roll. Other popular cryptocurrency gambling games include blockchaintalk.info, a forum-based game, and vDice.io, an Ethereum-based game. Others gamble on .
Crowdfunding
Crowdfunding is a popular way for game developers to raise money for their projects, and cryptocurrency has also begun to make its way into this industry.
One of the most popular cryptocurrency crowdfunding platforms is Kickstarter, which has started to accept Bitcoin as a way to pledge money to projects.
Other popular cryptocurrency crowdfunding platforms include Greenwald, a platform that allows developers to crowdfund their games in Bitcoin, andgamecredits.com, a gaming-specific crowdfunding platform that accepts various cryptocurrencies.
Blockchain-Based Game Development
Blockchain technology is not only getting used to power games but is also getting used to developing them. Indie game developers are beginning to use blockchain technology to create and distribute their games.
One of the most popular blockchain-based game development platforms is Unity, which allows developers to create 3D games that can get played on various devices, including PCs, consoles, and VR headsets.
Other popular blockchain-based game development platforms include Unreal Engine and Godot.
In-Game Items as Investments
Investing in in-game items is becoming increasingly popular, as some items’ value has risen significantly. Cryptocurrency is beginning to get used to investing in in-game items, allowing investors to purchase items without worrying about currency conversion or volatility.
The most popular game to invest in is World of Warcraft, as the value of some in-game items, such as the virtual mount Maelstrom Saddle, has risen significantly.
However, other games, such as Eve Online and Diablo III, also have in-game items that are beginning to get seen as valuable investments.
Tournaments and Events
Several gaming companies are beginning to use crypto to fund tournaments and events. For example, the popular game Counter-Strike: Global Offensive recently held a contest that Bitcoin sponsored.
This allowed players to directly use their crypto holdings to compete in the tournament without converting their crypto into fiat currency. In addition, some gaming companies are now beginning to accept crypto as payment for entrance into tournaments and events.
In-Game Currencies
A growing number of online games are starting to create in-game currencies that can purchase items, make bets, etc. These in-game currencies are usually based on blockchain technology, allowing for a secure and transparent way to track transactions.
For example, the game “Spells of Genesis” has its in-game currency called “BitCrystals,” which can buy cards and make bets. Similarly, “EverQuest II” has an in-game currency called “platinum” that can purchase items, services, and even other players’ characters.
Game Development
Game development is a complex and expensive process. It usually requires a team of developers working for months or even years to create a fully-fledged game.
Blockchain technology is able to create new types of game development. This is because it allows for developing decentralized applications (dApps).
dApps are games that are not controlled by a central authority but rather by the community of users. This decentralization offers many advantages, such as improved security and reduced costs.
Game Distribution
The traditional game has a centralized distribution model, so games are usually distributed through large platforms such as Steam or the App Store. However, this model has some disadvantages, such as high fees and a lack of control for developers.
Blockchain technology can create a new model of game distribution. This model has decentralized nature, which means that games get distributed through a network of computers instead of a central platform.
This has many advantages, such as reduced fees and increased control for developers.
Verdict
These are just a few of how cryptocurrency gets used in gaming today. As the industry continues to grow, we’ll see even more exciting and innovative uses for cryptocurrency in gaming and through .