You’ve probably heard of Crypto Gaming. It is a new style of gaming that profits players considerably by allowing them to earn real money simply by playing a game. Yes, you read that right: real money. As cryptos have earned so much popularity in the past, industries worldwide have been searching for ways to incorporate this technology into their product, such as online gaming.
So, if you want to learn more about Crypto Gaming, the way it works, and its benefits, keep reading! That is how Crypto Gaming was born.
What is Crypto Gaming?
To understand crypto gaming, first, we need to go over some of the features of traditional games. The main feature of these games is their centralization. That is to say, “the characters, skins, weapons and all of the coding that is done for that specific game cannot be used for other games.” Moreover, things work pretty differently when it comes to crypto games.
Crypto gaming allows every single person associated with the game to own a part of the game. Not only this, but users can also transfer their rewards and purchases made in-game to other games. When applied to games, characters and other resources can work with other games as well.
How Does It Work?
It is a well-known fact that you earn money online and be making money online with crypto gaming. That is due to the possibility of buying and selling cryptos through virtual wallets by cryptocurrency interchanges. Some traditional methods of online gaming revenue include membership marketing, in-app purchases, and in-app advertising. In addition, today’s players are pretty familiar with the coins of the game.
Membership marketing, in-app purchases, and advertising are typical monetization tactics in typical online games. One of the most prominent features of crypto gaming is that it lets users add value to every purchase.
As a matter of fact, “store tokens, such as in-game products, are often stored on a distributed ledger atop a crypto network in crypto games.” This ledger, which we know as blockchain, allows you to exchange the game products for cryptocurrencies to transfer them with real money.
Any purchase made within the app allows users to buy goods straight from the game, such as money, other lives, custom characters, costumes, and other accessories. In the case of crypto games, in-app transactions happen when players buy goods with bitcoin or buy cryptocurrencies.
Moreover, this is not the case in more traditional games. There, assets are purchased from a single store that belongs to the developer, which benefits creators rather than users. Not only this, but traditional games don’t allow the game life cycle to be controlled by players.
When the server shuts down, the operator completely deletes the new virtual properties. That is to say, the player no longer has any ownership over them, and any merchandise in the game now belongs to the operator.
As you can see, things work pretty differently in crypto gaming, from the ownership of virtual assets to their operation and the global distribution of players’ assets that are not for the sole purpose of gambling.
Types Of Crypto Gaming
There are hundreds of different types of gambling cryptocurrencies out there. Below we will list the main ones you need to know:
- Enjin (ENJ)
- Game Credits (GAME)
- Ethbet (EBET)
- Ionomy (ION)
- Theta Token -THETA
- DreamTeam Token – DREAM
How Do Users Profit From Crypto Gaming?
After reading so much about crypto games, you are bound to wonder how people earn Crypto with Games.
Although traditional games have always been all about entertainment, crypto games have come to change that. These games not only aim to entertain, but they also have the additional benefit of being able to earn real money.
As a matter of fact, every time someone buys an asset, they are indirectly increasing the value of the game economy. So, by using virtual products to achieve in-game objectives, players have the opportunity to profit directly from the game.
Earn Money With Crypto Gaming
There are many ways to earn with cryptocurrencies. But earning with gaming is a new thing to venture for. And crypto gaming is the new way to do that. So let’s find out more about this way:
At the beginning of 2021, crypto gaming saw an opportunity in the NFT token-based video games. It was based on the fact that from video games to collectible video games were based on the Pay to Earn precept. That led it to change from a regular game to a game with the chance to profit.
The great majority of the NFT trade is now based on gaming. That means that it now can offer avid gamers distinctive in-game merchandise assortment choices.
Liquidity in the Gaming Market
Crypto video games are pretty much dependent on the recreation market. Due to this, it is vital to be able to handle the liquidity ranges in these markets. In case you are unfamiliar with the term, “liquidity refers to the most quantity of belongings that may be purchased and bought at any time limit inside the recreation market.”
The extra the liquidity, the healthier the market will be. Due to this, liquidity can be seen as an indicator of any market. To improve liquidity, the crypto market must involve every NFT and FT property. On the one hand, FT items tend to be climbed to have an excess in liquidity marketplaces.
Because of this, they can generally be used for utility or consumables. Meanwhile, NFT belongings can be used as extra for their rarity, which tends to have a lot of value, no matter the number of transactions.
Understanding the Game Mechanics
The amount of money being invested in the crypto market keeps increasing every day. Due to this, crypto gaming is pretty much ready to become a trade of its own. Multiple studios are jumping onto the crypto gaming bandwagon in an attempt to capitalize on the newest pattern.
Moreover, the progress of the online gaming trade is one thing that crypto gaming has been meaning to exploit. This is because of its numerous advantages for both gamers and builders. Crypto gaming can earn real money, play anywhere, and the enhanced ranges of security and safety. Doing this improves the gaming expertise for avid gamers while also allowing builders to access new profits.
Crypto Gaming: Is It Real?
As a matter of fact, crypto gaming is 100% real. It is a brand-new movement that is quickly taking the world by storm. Not only this, but the ability to be able to trade game products for cryptocurrency can subsequently be converted into real money.
The Rise Of Cryptocurrency Gaming
With all the progress made in PC and mobile gaming, there has been a staggering increase in the gaming industry’s interest in cryptos. Crypto games are quickly becoming even more popular than other regular games on the market. That is because of the great advantage of allowing players to earn real money while playing. It shows how the game can benefit each player by rewarding their time and effort.
Not only this, but the game has shown it is a secure and straightforward way for the gaming industry to earn money. In fact, a recent Worldwide Asset exchange study stated that over 75% online gamers wanted to trade their virtual resources for a currency that would be used across multiple platforms.
The Future Of Blockchain Gaming
Blockchain is one of the most critical aspects regarding the future of financial technology. The incorruptible ledger system plays a crucial role in cryptocurrency, and therefore crypto games. The value blockchain brings to crypto gaming is based on setting up a micro-economy. This economy is pretty much driven by player interest. That is to say, “the value of a skin or a weapon is based on demand from other users, not what game creators have assigned.” So, the future of blockchain gaming will rely heavily on this economy and the decisions made by each video game developer.
Video games have constantly been evolving in the past few decades, especially now with crypto for games. The possibility of earning real money and profit from playing a game has people from all over the world going crazy and dying to find out more about it.
From the potential to earn to the ease of transactions, the ability to play anywhere, and the increased levels of safety and security, crypto gaming improves the overall gaming experience for all gamers while providing new income streams for developers. So, what are you waiting for? Start playing and earn some money!