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Cryptocurrency has the potential to transform our financial institutions and the way we conduct business but has not been the massive disruptive it promised to be yet. One area where crypto is making massive strides, however, is in gaming.
Blockchain technology and NFTs are also starting to have a big impact on gaming and could have promising applications. With the metaverse right around the corner, virtual reality, gaming, and crypto could come together and this could be what drives mass crypto adoption. Let’s take a look at how cryptocurrencies have impacted gaming and how they should continue to impact it for years to come.
NFTs in Games
A lot of people associate NFTs with computer-generated pieces of “art”, but the technology behind them is much more powerful than that. In a nutshell, NFTs are tokens on a blockchain that represent ownership. They are unique and can be used to prove ownership of virtually anything, whether it’s GIFs, physical items, or in-game items.
The biggest example of NFTs in gaming is Tom Clancy’s Ghost Recon Breaking Point, which used Ubisoft’s Quartz platform to allow players to buy, sell, or trade items with other players as NFTs.
One thing about NFTs, however, is that not everyone in the gaming community is a fan of them. Some players think they’re a scam while others are raising environmental concerns. The trailer for Ubisoft Quartz and S.T.A.L.K.E.R. 2 had to be delisted from YouTube because of negative comments, and some have speculated that it was all because of the bad view people have of NFTs. So, we will have to wait until they become a mainstream thing.
Crypto and Online Gambling
One of the areas where crypto could work is online gambling. There are already a few bitcoin casinos out there and crypto casinos have lots of things going for them.
First of all, they allow players to sign up without having to give up as much information. Players don’t need to share their banking or credit card information, for instance. Some people love crypto casinos because of the privacy they offer.
They are still not that common, however, and not the most reliable either. This is why players are still advised to stick to traditional online casinos if they want to gamble online. For anyone looking for a licensed and safe online casino to play at, jackpotcitycasino.com/ireland/ is a good option.
In-Game Currency Transfers
Did you know that some games allow players to convert in-game currency into real crypto? Games like MIR4, for instance, allow players to transform “Darksteel”, which is a special currency found in this game only, into crypto. It also allows players to exchange their characters as NFTs. This means that people could sell characters that have been levelled up to increase their grinding, and earning, potential to the highest bidder.
Cryptocurrency is having a profound impact on the gaming world and things will only get better from there. Stay tuned for the most recent changes and always keep an eye on developments if you want to be the first to take advantage of new trends and opportunities.
