Cryptocurrencies are considered as the imperative aspect of one of the fastest-growing gaming industry. 2 economically active demographics including Millennials or Generation X are focusing a lot in the cryptocurrencies. Many world-renowned game developers are incorporating various cryptocurrencies into their game production and development. Blockchain is searching for that one big application that could get every people going its way. And, gaming is believed to be that powerful app that drives cryptocurrency adoption.
Use Of Gaming As The Killer Application For Blockchain Adoption
Blockchain is one of the highly appreciated inventions that has the immense potential to do a lot of good. The growing industry of gaming has driven the blockchain adoption because of various inherent characteristics. Now, it is the main question that “how gaming becomes the magic bullet of the blockchain technology?”. Do you want to get its answer? If yes, then have a look at the following points –
- The gaming sector is an extensive ecosystem that is expanding its presence in different parts of the world with an increasing number of followers. According to the study report, there are about 2.2 billion active gamers globally. 46% of these players love playing games with real money. Even if the most players want their cricket betting rates in indian rupees, they have most likely not been introduced to the alternative.
- The major factor that contributes a lot to the increasing growth of the gaming ecosystem is the mass of the tech-savvy young population. It is expected that these young gamers have comparatively more knowledge of what the blockchain technology is and how it can be beneficial for them.
- The big gaming industry is a wider sector that has immense potential to develop multiple spin-off businesses that could highly depend on various types of blockchain applications.
Tronbet, the blockchain-based gambling platform of the world, has noticed more than 10K bets on the very first day of its launch in the market. Since that day, the number of users is increasing day by day with more betting volumes.
Improvement In Blockchain Adoption Through Gaming
There are some inherent features of the gaming sector that have resulted in the adoption of blockchain technology. Some of the main built-in characteristics are as follows –
- The gaming industry has so many followers and the key point is that the number of these followers is increasing rapidly on a daily basis.
- Numerous incentives are offered in the gaming field that draws the attention of increasing numbers of users.
- More developers and players are getting into this field due to the advanced development and exciting use of gaming-focused apps.
- Overall improved customer experience is another key factor that is responsible for increasing participation of worldwide users in the gaming sector.
Crypto Use In Online Gaming
It is estimated that gamers could earn online/virtual currencies, which are basically tradeable crypto-assets. Playing videos games online and making money at the same time seems to be the most lucrative and exciting way. The use of digital currency in this manner is resulting in the increasing use of cryptocurrency and blockchain. More and more people are now showing an interest in transferring the balance of coins to a cryptocurrency wallet.