We’ve been talking for a while now about blockchain technology, cryptocurrencies, and how they have mingled with the gaming industry, making way for the worldwide phenomenon that play-to-earn has become. By now, you should know how the p2e gaming model works, and you should also be able to choose the right blockchain games for yourself.
We’re here to crush any remaining doubts if you still wonder why you should ditch your old video games and make space and time for play-to-earn mobile eSports games. Check out our list of reasons why using cryptocurrency (and NFTs!) in games is the future, and you shouldn’t waste any more time without blockchain games in your life.
Cryptocurrency- the future of the gaming industry
First, let’s go through a short overview before discussing each reason in depth.
- You can connect to the gaming platform from anywhere in the world
- The payment process is smooth
- No need for complicated cryptocurrency exchanges
- Cryptocurrency makes paying easy
- User personal information stays private
As you can see, using cryptocurrency in gaming brings more advantages to the table than using fiat currencies like USD, for example. Let’s discuss this further.
Play whenever, wherever
The use of cryptocurrencies in the gaming industry eliminates the issue of exchange rates and associated fees. You play in the same cryptocurrency used by the particular blockchain game you are enjoying, no matter where you are located.
Whether in the United States, in any country in Europe, or in Asia, payments become accessible with one universal currency. Of course, not all games use the same cryptocurrency, so you might be using different tokens if you enjoy several play-to-earn games. Another plus is that most blockchain mobile games have short rounds so that you can enjoy your gameplay anywhere, from the comfort of your living room to the bus ride to work, either playing on a website or your phone.
Transactions are instant
Until now, gamers have used their credit or debit cards to make an in-game purchase or make any online payment related to their gameplay. While these transactions are usually fast, there’s always the chance that your bank might take longer to authorize the payment. No one wants to go through that when they’re in the middle of playing their favorite game. It kinda kills the vibe!
With cryptocurrencies, the peer-to-peer transaction processing is instant, as there are no third parties or intermediaries involved. Nothing will slow you down when you are on a roll, trading digital assets!
Easy crypto withdrawals
Traditional money withdrawals can be a hurdle involving going to a financial institution or using a payment portal. With cryptocurrency, any exchange or transaction happens directly on the blockchain network. Players can instantly withdraw their tokens, and the coins go to software or hardware wallets. The smooth process is another one of the benefits of blockchain gaming.
Keep your payments secure
When you make an online transaction, either you buy or sell a token via the computer or your mobile phone, security is of the essence. Considering how many online payments users make throughout their gameplay, it’s only logical that some might be worried about their money being safe.
The use of blockchain technology in gaming brings forth a new payment method, making things much easier and a lot safer. It adds a new layer of protection by making hacking extremely hard and diminishing the illegal trading of digital assets. Each transaction must be validated through a consensus mechanism or an automated protocol like smart contracts. Your coins are safe in your wallet, and nobody can steal your private keys or duplicate them.
Pay fewer fees
Crypto uses P2P transactions, meaning there is no intermediary or central authority between the users and no additional fees to pay. It’s not entirely free, but it’s as close as possible. This advantage is not only great for players but game developers too. Gamers spend less on fees, saving money in the long term, and developers can boost their profits quickly. It’s another reason why crypto adds value to online gaming, attracting the undivided attention of developers and players alike. The play-to-earn model gives way to incentivizing prizes without hidden costs.
Keep your identity private
Besides ensuring their funds are secure, players should also want to breathe easy knowing their personal information stays private. We live in a world where privacy is of the utmost importance, but it’s often violated by the platforms we entrust with our personal details. With crypto, players’ data remains anonymous, as a new address is generated with each cryptocurrency transaction, keeping their identity confidential.
If you had any remaining doubts about why online gaming is on the precipice of a new exciting era, with the help of crypto and in-game rewards such as NFTs ( non-fungible tokens), this article should obliterate them all.
Blockchain technology will transform both the game industry and the way gamers pay, buy and sell, interact or play. By using cryptocurrency, a user receives more value for his money than with a traditional currency, like USD. Join the millions of existing play-to-earn gamers and get ready for passive income!
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