You have probably thought that decentralized exchanges and crypto is just a digital asset that is used to invest or send money from without the need of settlement, however a new wave of crypto gaming is becoming increasingly popular amongst millennials showing that the crypto blockchain has multiple uses cases.
As crypto and technology advances in the future we will see more crypto games and gamers unite creating brand new gaming era. Fuelling this development are game developers and engineers create new tokens and ways to include cryptocurrency as a form of in-app payments to purchase skins or weapons for people playing these games.
How Does Cryptocurrency Gaming Work?
When playing normal videogames, you might get bored and upgrade your characters look by purchasing in-app clothes items or weapons through coin purchased on the app store or Xbox/PlayStation store. The only problem with this for gamers is that there is no real extrinsic value with these items, you can’t sell it for real money as the item is only limited to when you’re playing the videogame.
This is where crypto gaming changes things up, within crypto gaming you can purchase the same customisation items however due to these items being stored on the blockchain you can essentially leverage your items and swap it for cryptocurrency’s allowing you to turn these virtual items into real money that you can use to purchase items at your local shop. This changes the dynamic and shift between developer and player, as players can make real life money instead of the developers getting rich selling customisable items that can’t be sold for real money.
Interestingly when playing traditional videogames if you buy an extra DLC or cosmetic items you cannot use any of it if the developer turns the multiplayer server off. This is different to crypto gaming as you have the items stored on the blockchain ensuring you will always have your digital asset whether the game is still alive or not, this will also give players further confidence to adopt crypto gaming as it ensures they will always own their digital goods.
How You Can Make Money Crypto Gaming!
Due to crypto gaming being formed on a decentralised network all players are equal and have the same advantage as everyone else to purchase items and to sell them within a marketplace. For example, if you purchase some armour that cost 50 tokens and as the game progresses and more users join the demand could increase making the same armour with 100 tokens. If you sell your armour at 100 tokens you have effectively doubled your money whilst gaming.
Another benefit with making money whilst crypto gaming is due to the framework being operated on the blockchain every action whether you buy or sell is stored on the blockchain, meaning that you can never lose an item due to poor internet or a server outage as every action and asset is stored online.
Crypto gaming is a welcoming addition to the gaming space as it provides competition for developers to create a new crypto gaming world where players also have the advantage of making money whilst gaming.