It goes without saying that cryptocurrencies initially started out as a fairly niche asset that primarily interested those in the tech sector.
But with the greater adoption of crypto in the past decade, tables have turned and today people from every rank and file are aware of Bitcoins, web3, and crypto transactions. Crypto has also started to make real inroads into many industries and has become a key part of many sectors by merging its unique attributes.
Gaming is a good example of this and is one industry where digital cash is often accepted. This is no shock when you consider how gaming was always likely to adopt cryptocurrency.
In this article, we will discuss why the gaming sector was the most viable alternative for crypto’s greater adoption and what the future holds for the merger of crypto and the gaming industry.
Why was gaming always likely to adopt crypto quickly?
Although you could look at many sectors and easily see how they could integrate digital cash rapidly, gaming has always stood out as one industry that was more likely to do so. But what are the apparent reasons behind this conclusion?
One of the most obvious reasons for this is the tech-savvy user base that gaming has. Gaming itself is built on the latest technologies and constantly delivers new tech innovations to players. This can be seen in how online casinos have emerged in recent years or how using on-site virtual currencies at virtual coins casinos has ensured gamers are already familiar with virtual currencies.
As a result of this, gamers are not only more open to using the latest tech but also more aware of any new digital innovations that are available. This has led to them not only being willing to adopt new tech like crypto but also more demanding of having the ability to use it.
What else has contributed to gaming’s quick integration of cryptocurrencies
Another major reason why gaming was always likely to adopt coins like Bitcoin so speedily lies in the security and privacy that digital cash offers. Many modern players who need a safe, secure way to purchase in-game items when playing or to deposit/withdraw cash at online casino sites look for cryptocurrency as a payment option.
The high-end encryption built into cryptocurrencies and the transparent network they operate on makes this feasible. Due to this, gaming was always likely to become among the first sectors to take crypto on board.
The global, decentralized nature of crypto is also worth mentioning in terms of why gaming was always going to take digital cash to its heart so quickly. As crypto allows for fast global transactions that take place outside of the traditional banking system, it is perfectly designed to be used in a sector like gaming, which has a truly global audience.
How have games started to include crypto elements?
The rapid adoption of cryptocurrencies within gaming has led to an increasing number of games that include crypto elements in their design.
One of the most obvious examples of this is dedicated online crypto casinos. These sites enable people to play games with digital coins and make crypto deposits and withdrawals. Some games have also started to use Play-to-Earn mechanics, which reward players with digital tokens or crypto coins for completing specific activities within them.
NFTs and in-game crypto coins
Many people have likely heard about non-fungible tokens when it comes to crypto in games. These are unique digital assets which some games now use to offer players ownership of unique in-game items. NFTs can be sold or traded outside of the game, which opens up a whole new horizon in the sector.
Some games have also started to use native cryptocurrencies as the currency needed to make in-game purchases. Players are able to use these in-game coins to buy upgrades, virtual items or special abilities.
What is the future of crypto in gaming?
Although no one can say what the future holds for certain, it seems that cryptocurrencies are set to play a major role in gaming as time progresses.
As more and more crypto elements make their way into game design, digital coins are likely to become more integrated into the sector. The increasing familiarity of crypto with not only gamers but the public in general should result in it becoming an even bigger part of gaming over time.
It’s also pertinent at this point to mention the metaverse. This next-gen virtual world could make crypto-based transactions a core part of playing games at metaverse casinos or when playing other sorts of games in this environment. As a result, the rise of the metaverse could lead to crypto becoming more dominant in gaming.
Conclusion
The quick adoption of crypto by gaming is clear and we are beginning to see more games including crypto elements in their design. This is only likely to increase in the future and result in digital cash being even more embedded into the gaming sector. This could be a positive move for cryptocurrencies themselves with the mass adoption of crypto driven by gaming.
