Cryptocurrency is an ever expanding medium which has slowly crept into the consciousness of the gaming community. It makes sense for the cryptocurrency groups out there to tap into this market. Your typical gamer knows more than the average consumer about emerging tech so combining the two worlds seems like a match made in silicone heaven. It started out slowly at first with some rather dated looking 80s style retro offerings not exactly setting the world alight. More recently, however, it has emerged into a wealth of sophisticated online games which are decidedly addictive.
The idea is that you can acquire items, such as a sword or a magic card through these games which can later trade in for gaming tokens. This can even be later traded for cold hard cash if you feel that way inclined – one magic card sold recently for a whopping $62,000! With this kind of money being traded in the relative infancy of the crypto gaming lifetime, it’s easy to say why gamers and investors alike are flocking to get involved.
So what do these crypto games look like and where can you find them? Below is a selection of some of the hottest sites out there to feast your eyes on:
This was developed in 2017 by the group Enjin, which boasts the world’s largest online gaming community with over 19 million users worldwide. It taps into the Ethereum blockchain, regarded as the second largest after the eponymous BitCoin. Ethereum enables users to purchase in-game tokens which can be used to obtain assets within the games themselves. What’s more, it helps provide software development kits for payment platforms so that game developers can assimilate Enjin coins into the games themselves. Once onboard, the gamers can trade and rent items charging other gamers for items they have developed, giving them virtual ownership.
Like with any cryptocoin, the Enjin coin has a cash value which fluctuates wildly. At the time of writing, one coin is worth around $0.14, making for some pretty risky investments. The assets that they trade can vary in value but one of the most exciting parts about it is that a staff of reckoning used in one game could hypothetically be used in other games across the network. This level of variety provides hours of fun and huge potential for both developer and gamer to add to their digital wallet.
This is an ambitious group effectively aiming to take over the crypto gaming world by seeking to be the universal source of blockchain based digital tokens for video games. They have been around since 2014, making it one of the first gaming crypto coins to emerge. Unlike most crypto game platforms, it has its own blockchain, giving them greater flexibility and freedom to get gamers and developers alike onboard. It provides regular rewards to in-game users for their loyalty, including special items, power boosts, and collectables; which can be traded back for cash.
A recent partnership with Unity Technologies may see it set itself apart from its rivals. Unity is regarded as the world’s largest gaming development company and their combined forces may well see GameCredits living up to their own lofty expectations.
This platform’s unique selling point is the in-game challenges that rewards users with actual credits which can in turn be used to purchase more items. This is in contrast to many platforms which require gamers to jump through various ‘achievements’ hoops to unlock items. Its ‘CryTek’ partnership means that although it’s a minor player in this market, it is slowly integrating itself into their online games such as the widely hailed Crysis series.
Due to its diminutive stature in an ever growing trade, it remains to be seen whether they’ll be able to sink or swim.
Renowned for its developer friendly toolkits offering an array of applications, TRON is one of the largest blockchain specific systems in the world. It is also incredibly fast, boasting a rate of over 2000 transactions per second with very low operating costs. It is helped in the sense that it directly hosts developers games, and not doing this through third parties cuts out the middleman and eases transaction flow.
TRON’s partnership with Biscuit Labs meant that they have built an upgraded version of their hugely popular mobile RPG, Knight Story on the TRON blockchain which is sure to lend it further support. With TRON’s philosophy of giving people a boundary free internet along with being largest decentralized community in the world, it is easy to see why crypto gamers are flocking to be a part of its movement
One final note is to mention the extra security that’s gained with purchasing through cryptocurrencies. As data breaches are increasingly commonplace, the use of Visa and MasterCard is a less attractive prospect than it once was. This is tempered with the knowledge that Steam suspended cryptocurrency payments due to the volatility of the market. But with the crypto gaming industry garnering a whopping $137 billion in 2018, it’s looking like a hot prospect for the future, if you’re prepared to ride the exciting and unpredictable wave of cryptocurrency investment to get involved.
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