Global statistics indicate that about 3.09 billion people consistently play virtual games in 2023. According to the Exploding Topics’ forecast, this number can exceed 3.32 billion by next year. The IMARC Group company has estimated the worldwide gaming market at 202.7 billion dollars and expects this value to increase to 343.6 billion, not without the help of crypto integrations.
Modern products engage enthusiasts not only with stunning graphics and upgraded gameplay but also with fresh cryptocurrency opportunities. Online casinos on coingambling.info also adopt cryptocurrencies as a deposit and withdrawal method. But what does crypto really mean in the context of the gaming industry?
A Brief Look at the Link Between Crypto and Virtual Games
First, cryptocurrencies change how players manage in-game content and give consumers new opportunities to earn money. Enthusiasts get the most out of accumulated/bought items, eliminating financial risks due to blockchain technologies.
Second, game developers can blur the lines between various products by implementing the chance to easily transfer various items between different games. As a result, studios can encompass a wider audience. Third, a safe and reliable setting rules out the possibility of falling into the trap of scammers. Let’s dive deeper into the cryptocurrency pros in conjunction with the gaming world.
Simplifying cross-game interaction
Cryptocurrency provides an opportunity to smoothly hand over and use in-game assets between various titles and platforms. As a result, players can involve the same characters and content in almost any game they like. By exploiting the purchased assets in such a way, enthusiasts improve the overall experiences and cease to feel the boundaries between the different products’ economic systems.
In turn, game creators get an increased number of admirers with any preference. Studios get a chance to better engage with the target audiences and raise the confidence level between developers and consumers.
Ensuring new earning prospects
With cryptocurrency adoption, gamers get an opportunity to own and manage their gained assets and freely impact the internal economies. The ways to get paid include the following:
- game assets monetizing;
- selling in-game items;
- grabbing exclusive rewards, like coins, NFT, or tokens, for completed tasks/additional missions.
Instead of a traditional pay-to-play scheme, the gaming industry, reinforced by crypto, offers gamers a lucrative play-to-earn system. This can drastically change the virtual world and bring more enthusiasts to the sphere in the short term. The CoinMarketCap platform reveals that the global gaming token is currently estimated at more than 11,992,130,000 USD.
Providing security and extra benefits
Thanks to the blockchain technology joint with the crypto games, no third parties can access players’ data. No authorities nor scammers have a chance to track the gamer’s activities and reveal financial details. It is possible due to the modern decentralized infrastructure that excludes any facilitators. Players don’t pay any additional fees when making operations to purchase or sell something in the P2P environment. Moreover, enthusiasts lose nothing on currency exchange.
Crypto Gaming at Online Casinos: What to Expect
The trend of cryptocurrency is gaining momentum in the iGaming market. In 2017, the world saw the revolutionary CryptoKitties game based on Ethereum. Its gameplay implies growing and selling adorable pets for real money. This marked the start of the development of similar products devoid of any intermediaries.
Crypto games are increasingly appearing in online casinos. Gamblers worldwide value the following benefits of this approach:
- Security and anonymity. Blockchain technology nullifies the risk of getting caught by fraudsters. In contrast to conventional money, crypto doesn’t reveal the identity of a player making transactions.
- Accessibility. Regardless of the location, gamblers can seamlessly make deposits and request withdrawals at crypto casinos. Cryptocurrencies make up for the lack of traditional forms of payment in some regions.
- Lack of monitoring by the authorities. Crypto is fully decentralized, which is extremely helpful in countries where iGaming is restricted or game winnings are taxable.
Blockchain peculiarities help consumers save money due to the absence of transaction fees. In addition, deposits and withdrawals with digital coins are processed in several minutes, which cannot be said about fiat money. Casino enthusiasts can easily start a safe and profitable journey with the list of fully licensed and reliable crypto platforms.