The global gaming market is constantly evolving and it is no longer rare to see how video games implement blockchain technology.
It makes gaming more secure and fast, allows paying anonymously, and rewards gamers with tokens which significantly boosts their interest and dedication. But before you rush to create a crypto wallet, devote some time to reading about what crypto gaming is and how it can make your experience better. Read our article and head to New Zealand online casinos approved by CasinoHEX to try the technology as well.
Crypto gaming definition
Crypto gaming is gaming where users spend or earn cryptocurrencies instead of fiat money. It allows developers to add another layer of reality to their games and ensure gamers’ security and anonymity since blockchain technology doesn’t require any personal details.
Nowadays, it is not rare to see games where players earn cryptocurrencies or non-fungible tokens. Non-fungible means that something is unique and can’t be replaced. For example, a BTC can be traded for another BTC and you’ll get the same thing. But one NFT card is absolutely different from another NFT card. You have surely seen funny cards sold for tens of thousands of dollars. These are the non-fungible tokens we are talking about.
How does crypto gaming work?
Game developers implement a variety of different methods and business models. First of all, these are play-to-earn (P2E) games which use blockchain to buy or earn gaming tokens. For example, early birds can purchase tokens after the game launch and expect the value to grow when the number of players increases.
There are video games which sell in-game items (skins, virtual territories, weapons, etc.) for tokens. Some developers take NFTs for unlocking new levels which motivate gamers to spend more inside the game. But this one is quite tricky because may lead to compulsive gaming. At NZ CasinoHEX, Grace Tennet likes to remind readers how important it is to conduct reality checks and set clear budget limits. There are also video games which reward users with crypto for participating in tournaments, completing quests, or inviting friends.
Benefits of crypto gaming
There are several serious advantages that make crypto gaming one of the biggest game changers.
- Instant transactions
Most payment methods involve third-party processors that may prolong transaction times and involve unnecessary mediators that have your sensitive data. That is why crypto is like a breath of fresh air. The deposits and withdrawals are instant and don’t require any mediators. Yes, there might be slight delays when the system is overloaded but luckily there are numerous wallets and exchanges that eliminate this problem.
- More flexibility
As we have already mentioned, blockchain technology doesn’t require any personal details. You can keep your email and phone number to yourself and bypass a bunch of requirements on your way to gambling. Not depending on your physical location, the transactions are clear and convenient, adding flexibility and accessibility to the process.
- Saves money
The first obvious advantage of blockchain technology is the absence of fees. Yes, some exchanges may charge you a fixed commission for the transaction (the more pending payments, the higher this commission is). But video games don’t take any money on crypto payments, so the winnings are yours.
- Top-notch security
When playing online or doing other sorts of activities on the Internet, security remains one of the biggest and the most fundamental concerns not only for developers but for players as well. Luckily, blockchain is one of the safest technologies on the modern market. It almost eliminates the chances of stealing your coins or personal details, and there are physical wallets which can be accessed only when knowing a unique and rather complex seed phrase.
The future of gaming is in the blockchain technology
Blockchain technology is no longer a mysterious unicorn that no one is able to see. There are tons of guidelines and tutorials on how to become crypto-aware and implement this technology into your activities including gaming. From our article, you already know why crypto gaming is great and all that is needed is to start using this information in practice. The top gaming tokens are ApeCoin (APE), Decentraland (MANA), and Sandbox (SAND), so open a wallet, purchase several coins, and make one step closer to the experience of a lifetime.