Will crypto gaming go mainstream?

Ever since the mysterious pseudonym Satoshi Nakamoto published a white paper outlining the Bitcoin concept in 2008, cryptocurrency has been tipped to break into the mainstream in various ways. While crypto still has a long way to go to match traditional currencies, there’s no doubting its global impact over the past decade and a half.

Crypto has a myriad of potential benefits, offering an entirely new way of doing things.

First, a brief overview of the overarching crypto concept. Without properly understanding what cryptocurrencies are and how they work, you’ll find it much harder to understand crypto games themselves. In essence, cryptocurrencies are virtual currencies that leverage blockchain technology to offer a decentralized approach to finance.

This is one of the most prescient advantages crypto has over conventional currencies, creating an alternate world removed from traditional banks and governmental institutions. Another key benefit is the visibility made possible by the so-called “blockchain”. This is a public ledger that records all crypto movements, something that significantly diminishes fraud and theft.

Bitcoin is still by far the most popular type of crypto, but it’s by no means the only one. There are thousands of potential options nowadays, with examples like Ethereum, Litecoin and Dogecoin, to name a few.

Okay, so that’s cryptocurrency as a base concept out of the way, now let’s turn to exploring the notion of crypto gaming. This isn’t a trick or curveball, crypto gaming is pretty much exactly what it says in the title: gaming, but using various cryptocurrency concepts. For example, players can enjoy in-game currencies based on the blockchain concept or benefit from smoother purchases for in-game add-ons.

While these use cases are the most obvious and widely adopted examples, developers are increasingly thinking up novel ways to incorporate crypto into the gaming world. Casino game providers have begun using the blockchain to create innovative and more trustworthy alternatives to traditional RNG games, while other developers have created complete virtual worlds using cryptocurrencies as the foundation.

Crypto gaming’s success has encouraged developers to explore various ways to incorporate the technology into traditional gaming experiences. In fact, some gaming developers have been so creative that they’ve created entirely new experiences that could hardly have been imagined before.

Here are a few of the main examples:

Crypto casino gaming

The online casino industry has become a particularly popular crypto gaming domain, and not just for taking payments. Gamblers can fund their accounts at a gaming site with things like Bitcoin, utilizing the blockchain’s speed and transparency to effect smoother and easier deposits or withdrawals.

But this isn’t the only way crypto has made its mark on the online casino industry. Software developers have also started using the underlying blockchain concept to create new games. These offer players a decentralized alternative to traditional random number generators (RNGs), reducing concerns over rigged software.

Play-to-earn games

Play-to-earn games are nothing new, with examples stretching back to the early 2000s and earlier. In essence, these games require players to complete tasks in order to earn small amounts of money or vouchers.

Crypto gaming has taken this concept and supercharged it with the power of the blockchain. These options provide a far more practical and easy way to earn rewards by completing tasks, and also make the entire experience more integrated.

Collectible games

Non-fungible tokens (NFTs) came about a few years after the initial crypto rise, but they are fully established now. These tokens use the same blockchain foundations as cryptocurrencies to verify ownership and track the history of digital assets. NFTs are unique and irreplaceable, making them the perfect option for video game developers looking for a new way to create collectible digital assets.

Games like CryptoKitties are fantastic examples, allowing players to trade unique virtual cards seamlessly while still being able to accurately verify their authenticity.

Virtual worlds

Some of the most exciting types of crypto games create entire virtual worlds using blockchain technology. These include platforms such as Decentraland and The Sandbox, which explore metaverse concepts using cryptocurrencies.

Players can even buy and sell land or develop buildings to turn a profit, much like they would in reality with real estate.

Benefits of crypto gaming

Crypto gaming offers numerous benefits compared to conventional online gaming. Here are a few of the most pertinent:

● Faster and safer transactions.

● Complete transparency and verifiable ownership.

● Unique and innovative gaming experiences.

We’ve examined the crypto gaming options and advantages, but will these games ever go mainstream? It might take time, but analysts are predicting an ever-closer relationship between crypto and gaming. For example, massive multiplayer games like Magic the Gathering could utilize crypto to create more immersive virtual economies.