The Biggest Opportunities for Crypto in Gaming

The Biggest Opportunities for Crypto in Gaming
фото показано с : zycrypto.com

2021-12-8 17:03

Cryptocurrencies and blockchain technology are two of the most revolutionary concepts in the world at the moment. Both have been able to disrupt entire industries, changing the way processes are being run and value is being sent.

For concepts that are so interesting, crypto and blockchain haven’t quite been able to crack the gaming space. There is a general awareness that crypto and blockchain can help games become more interactive and fun, but no one seems to be actively exploring the opportunities for now.

Moving into 2022, there’s a general feeling that games in the crypto world will be even bigger. Everyone has seen the success of games like Decentraland and Axie Infinity, and they would like to build on that success to hit even bigger heights going forward.

Trends rule everything

For as long as it has been in the limelight, the gaming industry has been known to chase trends. Decades ago, everyone was into consoles and large setups. But, recently, it has been more of a shift towards different trends. Twitch and more have disrupted the space with video game streaming. Fortnite, League of Legends, and more have made games more interactive with the battle royale system. And on and on it goes. 

Many of these trends have a logical pattern – a game is a wild hit and makes so much money, so everyone else wants to be like it. But, blockchain and crypto are making an entrance into the scene and it is interesting to see how things will shape up to be.

In recent years, investors have already thrown hundreds of millions at game companies that are looking to incorporate blockchain technology and cryptocurrencies into their ecosystems. Now that concepts like non-fungible tokens (NFTs) are in the mix, investors are salivating even more. 

How crypto gaming usually works

The entire gambit of crypto gaming platforms is simply the gamification of your experience. Essentially, these games have their ecosystems and set of rules. Players come in and play the game, and they get rewarded for finishing tasks and leveling up.

But, instead of just giving rewards that are only valuable in the game, players now have the opportunity to earn. Think of it this way; if you play a game and get a reward (perhaps a new skin or a new weapon), it is only valuable to you and the people who know its value.

With crypto gaming, these rewards can take on a value of their own. So, they could be NFTs – tokens that are unique and which represent something actually valuable in the game. If you like, you can hold on to this NFT and keep it. Or, you could decide to sell it on an NFFT marketplace. NFT mania is currently gripping the world, and you could just get lucky enough to sell your game NFT for a sweet price.

Crypto gaming uses the play-to-earn model to attract players. Why simply play when you can play and actually earn money? For some platforms, there are even in-app marketplaces where you will be able to trade your NFT. This way, people who understand the value of these NFTs will also be able to contact you and pay you for your NFTs.

Growth opportunities abound

While crypto gaming didn’t especially take off in 2021, there have been different pointers to the fact that it is very much alive. The success of games like Decentraland and Axie Infinity – both of which are raking in millions of dollars already – means that many people are attracted to the play-to-earn model. So, there is a lot to be excited about when 2022 rolls by.

One aspect that has investors talking is the metaverse and how crypto gaming platforms can take advantage of it. The metaverse promises to be an expansive and immersive environment where participants can be free to express themselves and be creative, and gaming companies could take advantage of it.

Creating a metaverse-based gaming environment where players get rewards is an attractive concept, and some games already inhabit that space. Axes Metaverse – a game developed by Azur Games – has recently captured the attention of players thanks to its seamless gameplay and combination of NFTs and the metaverse. Players can get NFTs as rewards, and they get to explore the game’s iteration of the metaverse. That is definitely interesting.

Of course, this doesn’t mean that other games can’t do the same. All they need to do is find something that makes players want to come to their platforms, and they can sell that.

Crypto gaming is also attractive to companies looking to sell. One of the primary benefits of the metaverse is that it will offer an abundance of marketing and engagement opportunities. Companies understand the potential of this, and they know how much games attract members of their target market.

Nike and Adidas are prime examples of this. Both companies are building their iterations of the metaverse, and they will allow participants to sample some of their products using their online avatars. When a metaverse-based crypto game gets popular enough, there is no doubt that brands will line up to advertise on its platform. This means greater revenues and an even more seamless opportunity to grow.

2022 is poised to be an even bigger year for crypto than 2021 was. With several facets of the industry making waves, gaming could take a giant leap forward as well.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Sentinel (SENT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.001936
Капитализация $0 Rank 99999
Цена в час новости $ 0.0018673 (-100%)

being entire disrupt able industries way sent

being entire → Результатов: 126


Фото:

SushiSwap (SUSHI) claims that the reports of a $1b bug are false

Recently, the DeFi sector across the crypto industry has seen a major number of exploits which usually result in millions of dollars in crypto being stolen. This has put the entire DeFi sector on edge, and so when a white-hat hacker reported a $1 billion bug in the software of the decentralized exchange SushiSwap (SUSHI/USD), […] The post SushiSwap (SUSHI) claims that the reports of a $1b bug are false appeared first on Invezz.

2021-9-24 14:40


Фото:

The Kick Ecosystem Could Become One of the Largest Cryptocurrency Ecosystems in the World, and Here’s Why

The cryptocurrency market is constantly evolving and laying down new rules as it develops. Five years ago, cryptocurrency exchanges could exist independently and develop as a separate structure. Today, however, single companies are being replaced by entire ecosystems capable of offering a whole range of services to the client, a one-stop service: from buying and […]

2021-6-29 16:34


Фото:

The Bull Market is Back: Bitcoin Explodes as Tesla Loads up on 10-Figures Worth of BTC

Bitcoin’s price soared higher today on news of Tesla acquiring $1.5 billion worth of BTC to add to their balance sheets This news was revealed in a recent SEC filing and naturally caused the entire crypto market to make a massive move higher This news is already driving massive demand towards Bitcoin, with on-chain data revealing a massive premium on Coinbase This is typically a bullish sign because it signifies that an uptrend is being […]

2021-2-9 17:53


“DeFi is Inevitable,” 4Q20 Recorded 100k New Addresses Daily: ConsenSys Report

“This year Ethereum proved that an entire decentralized financial (DeFi) ecosystem is inevitable,” reads ConsenSys’ DeFi 4Q20 report. While this gained momentum last year, with all the drama surrounding the retail traders pumping up the prices of heavily shorted stock prices and now being suspended from trading them on Robinhood, a popular trading venue among […] The post “DeFi is Inevitable,” 4Q20 Recorded 100k New Addresses Daily: ConsenSys Report first appeared on BitcoinExchangeGuide.

2021-1-29 19:44


Фото:

Antonopoulos Debunks Bitcoin Double-Spend Attack FUD

Andreas Antonopoulos has taken to Twitter to debunk the fear, uncertainty and doubt (FUD) being spread by some crypto publications concerning a $22 bitcoin-double spend attack. The highly reputable Bitcoin evangelist has made it clear that the entire scenario was simply a chain re-organization in the Bitcoin blockchain, an occurrence that’s part of Bitcoin’s normalRead More

2021-1-23 18:00


Bitcoin Likely to Slide Back into $17,000 Region as Recovery Fades

Bitcoin and the entire crypto market has been caught within an intense bout of consolidation over the past day, which came about following a sizeable decline This decline sent most tokens reeling lower, with BTC and most altcoins all shedding a serious amount of value Where the market trends in the mid-term should offer some serious insights into whether or not this move is emblematic of any mid-term trend shift For the time being, it […]

2020-12-10 21:00


Things “Could Get Ugly” for Bitcoin if It Closes Below This Key Level

It has been a volatile past few days for Bitcoin and the entire crypto market, with the benchmark cryptocurrency’s bulls ardently trying to remain in control of it It has seen multiple sustained dips below $19,000, but each one is bought into aggressively and quickly reversed There is one crucial level being watched by a prominent analyst that could hold some heavy influence over the crypto’s price action He notes that a close below this […]

2020-12-3 21:00


Фото:

Ethereum Remains Strong So Long as It Defends One Critical Level

Ethereum and the entire cryptocurrency market are currently caught within a consolidation phase This has come about due to Bitcoin’s tight bout of trading between $11,400 and $11,600 ETH is trading above a critical level that it was previously struggling to surmount This is a bullish sign that indicates it may be well-positioned for a strong move higher in the near-term That being said, one analyst believes that ETH’s price could drift significantly lower while […]

2020-10-15 23:00


Bitcoin’s Market Structure Indicates a Massive Move Higher is on the Horizon

Bitcoin and the entire crypto market are once again consolidating following the latest push higher, with bulls being unable to firmly push BTC over any key levels The cryptocurrency is incurring mounting technical strength, however, which comes as it stabilizes around $11,500 Where the market trends next will likely depend on the cryptocurrency’s continued reaction to its $11,600 resistance If broken above, this level may ignite a massive BTC rally that sends it past $12,000 […]

2020-10-13 21:00


Former Employees Call Tron Founder Justin Sun A “Clout-Chasing, Evil Genius,” He Says ‘The Best is Yet to Come’

“I have devoted myself to being a responsible, global citizen throughout my entire life, spending significant portions of my personal and professional life to activities promoting universal values of respect, liberty & equality,” tweeted Tron founder Justin Sun in his response to an article on The Verge that paints him in a really bad light.

2020-10-1 21:58


Фото:

Ethereum Posts Strong Reaction to Key Support Level, But Risk of Downside Remains

Ethereum and the entire crypto market saw a sharp selloff overnight that caused ETH and most other major altcoins to erase their recent gains This selling pressure struck a lethal blow to the uptrends seen by both major and minor altcoins alike That being said, Ethereum and Bitcoin have both been able to remain above multiple key support levels As such, analysts are noting that bulls may be firmly in control, and may help guide […]

2020-9-3 23:00


Фото:

Analyst: Ethereum May Target $650 After Invalidating Signs of Bearishness

Ethereum and the entire crypto market have shown some signs of strength today This has allowed ETH to push up towards $500, with the cryptocurrency rallying to highs of $475 before seeing some stalling momentum Analysts don’t believe that this ongoing upsurge is anywhere close to being completed One trader noted that his bearish scenario for ETH has now been invalidated, suggesting that further upside could be imminent Another trader is now setting his sights […]

2020-9-2 23:00


Фото:

Crypto Market in Peril of Seeing Major Downside as Bitcoin Strength Wanes

The entire crypto market is currently consolidating as buyers and sellers reach an impasse following yesterday’s movement It now appears that the market could be positioned to see massive near-term downside due to some warning signs being flashed by Bitcoin If the benchmark cryptocurrency does lead the market lower, altcoins could severely underperform it Bitcoin and the entire crypto market have seen some calmness throughout the past day, struggling to garner any directionality in the […]

2020-6-4 23:00


Фото:

Interest-Bearing Crypto Products Shouldn’t Be Compared to Bank Accounts [Opinion]

Cryptocurrency-fueled interest-bearing financial products from BlockFi and others are being compared to bank accounts. However, this comparison is dangerous. Would you put your entire savings in a high-interest financial product that uses the blockchain? While the idea may sound enticing, we cannot forget it’s still very risky.

2020-3-8 19:16


Фото:

Etherean Fighting For His Life as Fire Rages On, Half a Billion Animals Dead, Lives Lost, Panic at the Supermarket, WHERE’S THE WORLD?

Entire species are feared extinct in Australia where thousands are being evacuated amid the worst wildfires in living memory. At least 17 people are dead, more than 1,000 homes have... The post Etherean Fighting For His Life as Fire Rages On, Half a Billion Animals Dead, Lives Lost, Panic at the Supermarket, WHERE’S THE WORLD? appeared first on Trustnodes.

2020-1-3 19:41


Фото:

Gods Unchained Records Higher Usage than CryptoKitties, Ethereum Network Remains Unclogged

It wasn’t too long ago that CryptoKitties fever went overboard and crashed the entire Ethereum network with an unfathomable number of transactions. In a recent Twitter thread, Coin Metrics explains how Gods Unchained, a digital card trading game, has surpassed CryptoKitties in transaction volume without being a burden on the network, November 20, 2019.

2019-11-20 14:00


Bitcoin Price Leaps As Bakkt And Coinbase Stimulate Institutional Appetite

Friday graced us with a positive fundamental trigger, with Bakkt finally being given the green light to launch Bitcoin derivatives trading on September 23. This follows almost an entire year of delays – and although the crypto market never lost interest in the upcoming platform for institutional investors, it was beginning to lose faith.

2019-8-20 18:04


Bitcoin and silver speculated to be better investments than gold in current market atmosphere

Bitcoin’s price movement has been considered as one of the main indicators for analyzing the behavior of the entire cryptocurrency market.  Some analysis also showed that Bitcoin was outperforming its mainstream peers such as gold and other precious metals with silver being the only commodity standing out during the previous week.

2019-7-21 20:00


Billionaire Chamath Palihapitiya says Bitcoin Is The ‘best hedge against the traditional financial system’

The entire world is currently facing economic uncertainties following the ongoing trade wars, the most prominent one being between the United States and China. Investors are therefore seeking alternative assets to gold and the US bonds and bitcoin is gaining traction due to its capacity to maintain a fierce rally amid the harsh economic times.

2019-7-10 12:01


Sidechains vs Plasma vs Sharding

Special thanks to Jinglan Wang for review and feedback One question that often comes up is: how exactly is sharding different from sidechains or Plasma? All three architectures seem to involve a hub-and-spoke architecture with a central “main chain” that serves as the consensus backbone of the system, and a set of “child” chains containing actual user-level transactions.

2019-6-14 04:03