(Newswire.net — May 15, 2023) — Cryptocurrency, while it has taken a back seat over the past few months, has become a major aspect of the future of gaming. Cryptocurrency and the blockchain have the power to change how we game – here are a few ways how.
Game assets as NFTs
One of the biggest changes we could see in gaming is having certain assets turned into NFTs. We are all familiar with the concept of unlockables and collectibles in a game, and turning them into NFTs gives them real-world value.
While NFTs have a slightly tarnished image at the moment, this is the area that many believe will bring them back. Whether it be in a triple AAA title like Call of Duty or playing a part in cryptocurrency in online casino, NFTs are going to have a serious impact.
Players make money
Another benefit of turning game assets into NFTs is that it allows players to make money from what they unlock. One of the biggest complaints gamers have is that they will spend days, if not weeks trying to find or unlock a particular weapon or item, only for it to be basically worthless outside of the game, besides garnering some attention online.
Because of this, many players tend not to bother trying to find these items or unlock any at all. This is shown in Call of Duty, where many players don’t both with unlocking weapon camos as they add nothing to their game.
By making these assets and items NFTs, players will be able to buy and sell them or keep them and let them grow in value. The items they have worked hard to earn can now be turned into real money.
Creating new economies
A gaming economy is something that isn’t new but is still relatively uncommon. The CS: GO weapon skin market is fairly well-known, but beyond that, there are very few economies based on games that keep players coming back.
These player-driven economies will not only benefit the player base but also substantially extend a game’s lifetime.
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Games hold more long-term value
Another issue facing game developers is that 99% don’t hold much value after a sequel or something similar is released. Using CS: GO as an example, barely anyone goes back and plays the original Counter-Strike, as GO is simply better.
Making a game with an ever-evolving economy and a way to earn fiat currency will create games that keep players coming back for months, even years, at a time.
Winning crypto
Another avenue that is seeing huge growth is the crypto-game sector. Instead of incorporating crypto or NFTs into existing games, these crypto-games are titles built on the blockchain and operate entirely using crypto.
These games allow players to stake and win cryptocurrencies or just win cryptos based on what they achieve in the game or how long they play. Similar to how cryptos use your PC to mine, allowing you to earn in the process, playing the game can also allow you to earn.
Faster and more secure transactions
Considering crypto and NFT transactions will take place on the blockchain, there are going to be faster and far more secure than usual. Data security and safety is a hot topic of late, and the blockchain, which is almost unhackable, will make complete security possible.
Cross-game transactions
Another exhilarating prospect is the idea of cross-game transactions. Right now, if you earn COD Points or V-Bucks within Call of Duty or Fortnite, you can only use those in-game currencies in their respective games.
However, imagine being able to send your V-Bucks across to Call of Duty and have them turn into COD Points. If you have 900 V-Bucks but need 1000 for a new skin, instead of spending money, you transfer 100 over from another game.
Cryptocurrency will allow you to spread your in-game currencies across the games you own, adding another layer of value. This concept can be expanded to items, too, with a sword you found in World of Warcraft being able to be transferred and used in League of Legends, for example.
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More player interaction and participation
Finally, crypto-based DeFi games work on an open-source model and a voting system. This means that no changes can be made without the community’s vote, and the open-source model allows players to create levels, characters, assets, etc.
This means that players will have far more control over the direction a game takes, as well as what is added and taken away. This level of control is unheard of but does ensure that players and developers can build games for everyone and not just make sales.
As you can tell, cryptocurrencies are set to have a big impact on the gaming space in a few years and may be one of the first sectors that shows us what cryptocurrency and the blockchain are truly capable of.