Cryptocurrency is having a major impact on the digital world. Since the release of Bitcoin in January 2009, we have seen the introduction of many crypto coins, including Ethereum, Ripple, Cardano, and Litecoin, to name but a few. One of the sectors in which crypto is having an influence is online gaming, but how has crypt changed the online gaming world?
Perhaps the biggest change to online gaming has been payments, and crypto is one of the leading ways to pay for games online. When paying to play online games, whether it be traditional video games or casino games, such as pokies, payment methods, including credit and debit cards, take time and can prove to be expensive in the long term. Crypto payments are fast, transparent, and incur a little cost. That’s the reason why crypto payments are becoming more popular in the online gaming sector. When playing the latest online games, there are often additional payments to be made during the game to improve the overall experience. Crypto is a safe way to pay for in-game items, and we expect to see crypto payments being used more in the eSports industry and mobile games, which often adopt a freemium policy.
Thanks to the introduction of cryptocurrency in online gaming, we have seen the creation of crypto-based games. Earning virtual currency when playing video games is not a new concept and has been in place for many years. However, virtual currency in online games has only ever had value in the game itself. That has changed thanks to crypto, and now, gamers can earn non-fungible tokens (NFTs) or cryptocurrency when playing online games. Any digital assets won by the gamer become their property, and they can do with them as they wish. NFTs can be sold for crypto coins or regular currency, and that means it is possible to make a lot of money when crypto gaming. Online casinos are another example of online gaming where it is possible to win cryptocurrency. There are several online casinos that have been designed purely for those who want to gamble online using crypto. Not only can you make a deposit using crypto, but you can play games using crypto and win crypto coins.
Another way crypto has changed the online gaming sector is the introduction of gaming tokens. Many gaming tokens only have used in a specific online gaming world, but they also have real-world value and are traded. ApeCoin is a good example of an online gaming token, and this is the native coin of the Bored Ape Yacht Club. You may have seen Bored Ape in the news, as many of their NFTs have sold for big money. Some developers have included ApeCoin in their games, so the use of ApeCoin, which is built on the Ethereum blockchain, can be used in other online games. Decentraland and Sandbox are two further examples of gaming tokens used in virtual online worlds, including games.
With the information above, it is possible to conclude crypto has changed the online gaming sector. From paying to play games, earning crypto in games, gambling with crypto, and buying gaming tokens, cryptocurrency has had a significant impact on the online gaming industry.