In the world of cryptocurrencies and NFTs there’s plenty to get to grips with. For those just starting out, you are likely familiar with the big coins such as Bitcoin and Dogecoin. However, there are masses of other coins and tokens out there on the market you can buy. This includes gaming crypto coins.
Gaming crypto is a type of cryptocurrency or digital asset that is used within the gaming industry. This can be for in-game purchases, microtransactions, or even rewards for playing certain games. The most popular form of gaming crypto is probably in-game items that are bought and sold on decentralized marketplaces.
How is Gaming Crypto used?
Gaming crypto is used in a variety of different ways within the gaming industry. The most popular use case is probably in-game items that are bought and sold on decentralized marketplaces. These assets are often traded for other cryptocurrencies or even fiat currency.
Another way gaming crypto is used, is for microtransactions within games. This could be for in-game items, such as power-ups, or even access to certain levels or game features. as well as cosmetic features for characters within RPG games.
Finally, gaming crypto is also used as a rewards system for playing games. This is particularly popular in mobile and social games where players can earn tokens for completing tasks or missions. These tokens can then be redeemed for prizes, such as in-game items, or even cash. These games are typically known as play-to-earn games.
What are the benefits of using Gaming Crypto?
There are a number of benefits to using gaming crypto within the gaming industry. The first is that it provides a way for players to trade in-game items without the need for a centralized platform.
Another benefit of using gaming crypto is that it can be used to reward players for their time and effort. This is particularly popular within mobile gaming, where players can earn tokens for completing tasks or missions. These tokens can then be redeemed for prizes, such as in-game items, or even cash.
For the gaming industry, gaming crypto offers a number of opportunities for growth and development. Providing gamers with something new within the landscape of gaming and trading. Not to mention, the potential for increased revenue through microtransactions and in-game purchases.
Games already using Gaming Crypto
There are a number of games that have already been developed and released which allow the use of gaming crypto. This includes the likes of Gods Unchained, a digital trading card game that allows players to buy, sell, and trade cards on a decentralized marketplace.
Another example is Decentraland, a virtual world where users can buy, sell or trade virtual land on a decentralized marketplace. The game also features its own cryptocurrency, MANA, which can be used to purchase land or make in-game purchases.
Tokens like GMR are also heavily linked to the gaming industry. With the minds behind the token creating a community for gamers to share content, with exclusive access to premium creator partnerships and their very own NFTs!