Online crypto gambling and blockchain games, otherwise known as crypto games, have become two of the most prominent names in modern online gaming today. However, despite their overlapping in some ways and often being mistaken for one another, they actually have many differences.
The Perks
Crypto casinos are rapidly becoming the most exciting new development in iGaming. They enable a plethora of functionalities and features that traditional online casinos simply can’t compete with since they accept cryptocurrencies as a payment method.
Among them is the fact that they can bypass KYC processes, enabling quick and seamless registrations that don’t require players’ personal information, or even ID verification for that matter. They also offer a wider variety of games, faster transactions, better bonus options, and the biggest perk of all, anonymous gambling (source: https://www.megadice.com/en).
On the other hand, blockchain games also utilize blockchain technology but in a different manner as they are run on blockchain networks. These are games that usually feature less modernized graphics and gameplay and often resemble retro games. However, what they lack in modern style and aesthetics, they make up for in the fact that players can earn actual rewards that translate into assets in the real world.
This has led to crypto games becoming renowned as investment opportunities since players can take advantage of their play-to-earn (P2E) structures to make money from them—usually in the form of crypto rewards. This critical feature has also thrown up a range of different monetization strategies that both players and developers can take advantage of.
Core Similarities
Both crypto casinos and blockchain games heavily rely on underlying blockchain technology. This helps both by providing features like transparency and better security as blockchain utilizes decentralized ledgers.
This means they ensure transactions, whether made as bets or payouts, are verifiable and virtually immutable. Both types of platforms also use cryptocurrencies for transactions and as in-game currency, which can enhance privacy and reduce transaction times compared to traditional fiat currencies.
Key Differences
The primary difference between the two lies in their target user experiences. Crypto casinos emulate traditional gambling environments, meaning they only really appeal to gambling enthusiasts and not traditional gamers. While both can be used to earn money, although strategy can matter, online gambling relies heavily on chance.
However, while P2E crypto games can be used to earn money, it also takes a degree of strategic choices in choosing the right platform and being able to spot which games will succeed so earnings will be worth more in the future. Despite that, it still differs from gambling since the rewards are there to be earned and not necessarily won as it is in gambling games.
Impact on Users and the Market
Crypto casinos appeal to those who enjoy gambling and are comfortable with the high-risk stakes of betting games. On the other hand, blockchain games appeal to traditional gamers more interested in the novel experience of having verifiable ownership of digital assets that can be traded or sold outside the game. However, despite their differences, both are growing rapidly and are influencing how digital gaming platforms engage users.