If you have been following the news, you must have caught Trump’s statement blaming video games as the cause of the rapid increase of mass shooting incidents in the US. Whether his allegations are true or not, his message stirred mixed emotions among the young folks who happen to be the largest population playing video games and coincidentally are active members in the crypto-verse.
Although the majority condemn Trump’s words, this begs the question of why the crypto community is concerned with what goes on in the gaming world. Well, it turns out, as much as people are surprisingly fascinated with digital currencies, it’s because they have always been spellbound with the virtual world, which is so often reiterated in the video games and movies.
But why does gaming news creates such a fuss in the crypto world? It seems most crypto projects have come to the realization that the crypto target market is not only the software developers but also individuals who spend a lot of time playing video games. That’s why a long chain of crypto platforms is flocking in the gaming industry, producing crypto features (gaming airdrops and tokenized gaming rewards) that are favorable for gamers.
Previously, most projects in the crypto space have been focussed on providing incentive payment options in the Fintech industry and believe it to be the best way to fasten crypto adoption. However, after figuring the amass cryptonians who engage in video games, the adoption scale has tipped towards crypto gaming, and some projects have started to cultivate the potential of crypto acceptance in this section. In fact, crypto experts believe that the future of crypto adoption could be derived from the gaming industry.
The following write up intends to find out if that’s true or if there may be other variables in play to necessitate crypto adoption through the gaming industry.
How Can Gamers Benefit From Crypto Video Games
When it comes to video gaming, nearly every individual involved wants to earn money when they play. This is one of the benefits that gamers enjoy playing video games through cryptocurrency. Some gamers even earn by helping new players to gain experience in the game. They create content that teaches newbies the ropes and get rewarded in return.
Gaming gadgets are usually costly, but with the dawn of blockchain technologies, gamers can have fun playing while getting paid in the process. Though many people have argued that making money in games is way more addictive, the rewards are more substantive.
Playing video games through crypto technology enhances learning. Their interactivity boosts learning, which allows individuals to experience novelty, challenge, and curiosity that stimulates more desire for information. This way, one has the opportunity to develop transferable skills such as simulated operations.
- Gaining Value for Product Reviews
Crypto companies have realized that gamers will go a long way to earn points and rewards, and what better way to reward gamers than with free additional coins and tokens for their participation?
Free airdrops are motivational and a fantastic way to introduce a new currency or attract more users and investors into its ecosystem. This means that gamers could essentially be the to-go-to people for product testing and reviewing. If you need your currency to get out there or get funding for a crypto project, why not start with a gamedrop?
Does Gaming With Cryptocurrency Have A Future In All Countries?
Gaming with cryptocurrency definitely has a future in all countries and here’s why:
- Nature of Cryptocurrency
Cryptocurrencies are on a peer-to-peer network, meaning that they can be accessible to anyone with an internet connection and a phone. This alone indicates a huge market for crypto mobile phone games. Experts have estimated that by 2020, and that is only next year, an additional 3 billion people in the world will have access to a Smartphone, and what comes with Smartphones; access to crypto-wallets and mobile phone games.
- Chinese Gamers
The second reason is China. In 2017, statistics showed that more than half a billion people between the ages of 19 and 34, in China were playing video games. That is half of the one billion Chinese people in the country and not to mention other Asian countries like India, which have a huge population and reputation for being tech-savvy. This means that if they have access to video games, they can have access to crypto wallets.
Additionally, the Chinese government recently announced plans to launch a national digital currency. Crypto companies are forecasted to be lining up to partner with the Chinese government for projects such as free game airdrops that can be converted into Chinese digital currency.
- Crypto Adoption Is Steadily Rising Throughout the World
Europe is currently the biggest crypto-friendly developer-destination for many start-ups. That shows an increased rate of crypto-availability in Europe which fosters gaming and crypto developers partnerships. North America is also doing fine, although US regulations on cryptocurrencies and digital assets make it hard for global crypto exchange integration.
In South America, governments such as Argentina, Brazil, and Cuba are also making strides into Cryptocurrency adoption. More people are gaining access to crypto wallets; hence, the crypto-gaming community is also expected to grow.
Africa, the most significant potential as an untapped crypto-market, has many companies looking to bring cryptocurrency to the grassroots through partnerships with institutions that can reach marginalized communities.
So, Is the Future Of Cryptocurrency In Gaming?
Gaming has been around for decades. To some gamers, it is downright a culture, and for hardcore gamers, well, it is like they are living in a whole other world. The challenge with cryptocurrency is that it is pretty recent, and people are still skeptical because they don’t understand it.
There is an upside because the majority of gamers are young people, and that is just another way to define the dynamic. Cryptocurrency awareness will go a long way to promote mass adoption, and gaming provides just the right platform.
The global gaming industry is generating more revenue than ever with figures that reached over 130 billion US dollars in 2018, with half of this being accredited to mobile gaming. In only one year, the market value is currently estimated at 152 billion dollars, and this is a clear indication of just how fast the industry is growing.
More sophisticated and PC games and console systems are being developed, and so are online gambling platforms or online casinos. Crypto casino type games that trade skills exclusively for crypto coins rewards are also on the rise, with a half a billion US dollars generated in revenue.
Gaming developers don’t just develop games for the sake of playing anymore because gamers now want to trade their skills for tangible returns. Since cryptocurrencies are heavily unregulated in most countries, gamers are exploiting this advantage to play and earn even while they are traveling.
Developers are increasingly accepting microtransactions payments in bitcoin, and ether, which like other cryptocurrencies are fraud-proof and support anonymous payments. People are increasingly enjoying games that provide fun and revenue for their skills, and this indicates only the start of a new gaming era with cryptocurrency.