Like most modern industries, the gaming sector is constantly finding new ways to innovate. As a globally popular industry with much of its roots in the tech industry, it’s unsurprising that gaming has also been one of the largest drivers of another phenomenon in the world of technology — cryptocurrency. Crypto and gaming have already become intertwined. Here’s a look at what their future together may look like
Not Just in Traditional Gaming
Although crypto gaming is becoming a new sub-sector that’s making huge strides, cryptocurrency influence isn’t just limited to the traditional gaming sector. The industry at large, and particularly the iGaming sector has begun integrating the use of cryptocurrency in a major way. According to iGaming expert, Geoff Kukard, up to one in four US residents now own BTC, so there’s a rising demand for crypto gambling platforms that offer perks like the best bitcoin casino bonuses and a more private experience.
The iGaming industry has embraced cryptocurrency as a payment method, driving the industry with crypto casinos and their ability to offer a more anonymous betting experience. However, as many states in the US still don’t offer legalized online gambling, most players who want that experience have to turn to offshore platforms to experience it.
As a result, crypto may well lead the charge for online gambling to be legalized in more US states. Between the growing crypto influence, the potential to grow the crypto industry locally, and the allure of the massive tax revenue states can divert from offshore platforms to their coffers, the crypto influence is sure to keep growing this industry.
Play-to-Earn Games
Among more traditional gaming options that don’t involve gambling, cryptocurrencies are also playing a larger role. This is mainly through the proliferation of the play-to-earn gaming sector. These specialized crypto-centric games incentivize players to play games where they can earn rewards in the form of cryptocurrencies or NFTs.
As a win-win type of model, it also attracts players by enabling them to still collect and earn cool gaming assets like weapons or artifacts in games, though with the added novelty of being able to really own those same assets in the real world too. By simultaneously acting as in-game assets and digital assets in the real world, play-to-earn games have exploded in popularity. With all the buzz from them, the future looks good too as more developers look into designing better quality play-to-earn crypto games that can one day rival mainstream titles.
The Future of Blockchain
The future of crypto in gaming looks great in general too. As the gaming industry continues to invest heavily in cryptocurrency, financing models based on digital assets have ushered in a new world for both industries. The democratization of gaming and app development is also being driven by cryptocurrency and blockchain technology.
Meanwhile, players have a chance to earn while enjoying their favorite games, contributing to the advancement of new chains and growing blockchain technology in general. Either way, the future of crypto in gaming looks bright as advancements in areas like interoperability, better regulation, scalability, and decentralized ecosystems keep advancing with time. Whether you’re into crypto gambling, traditional gaming, or play-to-earn, there’s every indication that the crypto and gaming industries are now forever intertwined.