Crypto gamers have high expectations. So, they play crypto games to enjoy crypto bonuses and promo codes.
Cryptocurrency has achieved a lot of focus and attention in recent times because of the advancement of blockchains. It has created an undeniable difference in crypto gaming. Now crypto gamers make up around one-third of the population of the world.
Some digital casinos are now offering bonuses or promo codes to the players. These are aimed at attracting more gamers and retaining them for increasing the user base. They come in many forms like welcome bonuses, free plays, cash-back deals, etc.
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Understanding Crypto gaming
Crypto games are video games that use cryptocurrencies. Crypto gaming combines games with cryptocurrency bettings. That is to say, one can wager cryptocurrencies like Bitcoin, Ethereum, etc. in exchange for fiat currencies. Apart from using digital currencies, normal casino games and crypto games are the same.
One cannot use the features like characters, coding, skins, weapons, etc. of a traditional game for others. Founded on blockchain technologies, crypto games allow using of all characters and other resources for other games. Players can also rewards, purchases, etc. for different crypto games.
Players can earn money through crypto gaming in different ways. They can buy characters and sell them at higher prices for real-world money, to interested parties, after leveling them up. In simple words, one can trade digital assets for fiat currency. Most users make money from crypto gaming in this manner.
Crypto games offer the usual gaming experience to complex games involving more than one player. As they are diverse, they cater to a broad spectrum of audiences. These also give access to varying degrees of decentralization.
Workings of crypto gaming
The developer owns all digital assets of traditional games. But in a crypto gaming environment, the users own items acquired in process of gaming. It became possible as crypto games are based on blockchain technologies. So, all devices connected to the network have access to every bit of information. Such a decentralized system empowers the players and creators equally.
Crypto games function in two ways. Either the developer creates the game on a blockchain, or they can resort to in-game currency. In the first case, verification of every interaction undergoes verification and is stored as new blocks in the blockchain. One can use non-fungible tokens for in-game digital assets in the second case.
Crypto gaming monetization includes in-app purchases, in-app advertising, and referrals. Players can also own in-game items and sell them. The play-to-earn crypto game models allow people to profit from their investments.
Investing in crypto gaming
Multiple ways are available for crypto gaming. One can also play games and earn crypto tokens as rewards. One needs to buy cryptocurrencies to play crypto games. For this, one has to deposit fiat currency to a cryptocurrency exchange for conversion. Plenty of such exchanges is there to pick to suit whatever different needs. Once you have cryptocurrencies, you need to create a wallet for safe storage and transaction. Next, choose a game and start playing. But cryptocurrencies are ever volatile. So, none should invest more than what they can afford to lose.
Different types of crypto games
Crypto gaming is growing faster. The surge is mainly due to mobile playing that makes crypto gaming easy and accessible. While the total crypto gaming revenue was $321.0 million in 2020, mobile gaming’s share was $128.4 million. It comes to about 40% of the total revenue. Crypto games can be put into the following categories:
- Collectible games: These form the center of the crypto gaming world. Here, players can collect, train, and trade digital animals in a virtual world.
- Role-playing games: Players can control characters and have real-time combats in these types of games. Players can earn cryptos and NFTs playing these games.
- Open world games: These include worlds built with cryptos for exploration. One can buy a piece of land, customize it with people, buildings, plants, etc. One can also sell the land to others.
Crypto gaming benefits
A large number of online gamers are now shifting to crypto gaming for the following reasons.
- Instant transaction: Crypto gaming is free from intermediaries and authoritative controls. As such, one can exchange cryptos instantly and efficiently. The use of blockchain also helps developers in receiving instant payments.
- No local restriction: One can play crypto games to play from any corner of the globe minus exchange and security hassles. Moreover, gamers can withdraw funds from anywhere in the world without any restriction.
- Safe and secure: Founded on blockchain technologies, online crypto games bar illegal digital asset transactions. It further eliminates the chances of hacking and stealing the keys. As such, players stay confident about all transactions made.
- Cost-effectiveness: Cryptocurrencies pay more for your money. These are more cost-effective than bank transfers, credit cards, etc. The use of bitcoin attracts no hidden fees and yields immediate movement for funds. Crypto gaming involves peer2peer transactions. Hence, no handling and exchange fees are involved. Players enjoy more benefits for their money and the developers also earn more profit.
- Hides identity: Cryptocurrencies involve discreet purchases. So, one can hide their identity while playing bitcoin games.
Risks of crypto gaming
Despite several advantages, crypto gaming has some downsides. Some games have access barriers. Cryptocurrencies also do not enjoy protection from traditional banking systems. So, one has to ensure safe and secure storage of cryptocurrencies against frauds and thefts, One should also check what the crypto gaming is exactly offering. For this, you need to install robust anti-virus software on the gaming device to ensure protection from malware. Cryptocurrencies are also extremely volatile and can make one vulnerable to losses if prudent decisions are not taken.
Crypto games offer provably fair for their play-to-earn gaming models. Some big players in the gaming industry are stepping into the world of crypto gaming. Crypto games deliver improved gaming experiences to the players and are also profitable for developers. Loaded with decentralized finance, non-fungible tokens, and augmented reality; crypto games happen to be the future of gaming platforms.