The global gaming market is constantly evolving and it is no longer rare to see video games implementing blockchain technology.
It makes gaming safer and faster, allows anonymous payment and rewards gamers with tokens that significantly increase their interest and commitment. But before you rush to create a crypto wallet, spend some time reading about what crypto gaming is and how it can improve your experience. Read our article and go to CasinoHEX approved online casinos in New Zealand to try the technology too.
Crypto Games Definition
Crypto gaming is gaming where users spend or earn cryptocurrencies instead of fiat money. It allows developers to add a new layer of reality to their games and ensure the security and anonymity of gamers as blockchain technology does not require any personal data.
Today, it is not rare to see games where players earn cryptocurrencies or non-exchangeable tokens. Non-fungible means that something is unique and cannot be replaced. For example, one BTC can be exchanged for another BTC and you get the same. But one NFT card is absolutely different from another NFT card. You’ve probably seen funny cards that sold for tens of thousands of dollars. These are the non-fungible tokens we are talking about.
How does cryptogaming work?
Game developers implement a variety of different methods and business models. First of all, these are play-to-earn (P2E) games that use blockchain to buy or earn game tokens. For example, early birds can buy tokens after the game launches and expect the value to increase as the number of players increases.
There are video games that sell in-game items (skins, virtual areas, weapons, etc.) for tokens. Some developers use NFTs to unlock new levels that motivate gamers to spend more in the game. But this one is quite tricky as it can lead to compulsive gaming. At NZ CasinoHEX, Grace Tennet likes to remind readers of the importance of doing reality checks and setting clear budget limits. There are also video games that reward users with crypto for participating in tournaments, completing missions or inviting friends.
Advantages of cryptogaming
There are several serious benefits that make crypto gaming one of the biggest game changers.
- Instant Transactions
Most payment methods involve third-party processors that can extend transaction times and involve unnecessary intermediaries who hold your sensitive data. That’s why crypto is a breath of fresh air. The deposits and withdrawals are instant and require no intermediaries. Yes, there can be minor delays if the system is overloaded, but luckily there are numerous wallets and exchanges that can solve this problem.
- More flexibility
As we mentioned, blockchain technology does not require any personal data. You can keep your email address and phone number to yourself and bypass a lot of requirements on the way to gambling. The transactions do not depend on your physical location, but are clear and easy, making the process more flexible and accessible.
- Money saved
The first obvious benefit of blockchain technology is the absence of fees. Yes, some exchanges may charge you a fixed commission for the transaction (the more outstanding payments, the higher this commission). But video games don’t charge money for crypto payments, so the profits are yours.
- First-class security
When playing online or doing other types of activities on the internet, security remains one of the biggest and most fundamental concerns not only for developers but also for players. Fortunately, blockchain is one of the most secure technologies on the modern market. It almost eliminates the chance of stealing your coins or personal information, and there are physical wallets that can only be accessed if you know a unique and rather complex seed phrase.
The future of gaming is in blockchain technology
Blockchain technology is no longer a mysterious unicorn that no one can see. There are numerous guidelines and tutorials on how to become crypto-aware and implement this technology in your activities, including gaming. From our article you already know why cryptogaming is great and all it takes is to start using this information in practice. The best gaming tokens are ApeCoin (APE), Decentraland (MANA) and Sandbox (SAND), so open a wallet, buy multiple coins and get one step closer to the experience of a lifetime.