Cryptocurrencies have been quite popular for a few years ago due to their systems which are very different from the way we generally trade with money. It uses codes and crypts to unlock coins and can be traded for work, except the coins do not exist in any way and the best part is that there is no organization behind this, leaving only a few coins that can be mined. Cryptocurrencies have lately ventured into the gaming world as well and we’re going to look at how gaming cryptocurrencies work now.
Gaming and Cryptocurrency
- Let’s take a game for explaining things, let this game be called as ‘Arcade’. This Arcade works by using blockchain technology, this is the technology which is used to run the gaming cryptocurrency
- Now, Arcade would have it’s own gaming currency, again, let’s take for instance as ‘Arcade coins’. These coins can be used for a variety of purposes such as betting, trading or exchanging.
- The only catch with the gaming currency is that they do not exist physically and also that there are only a limited number of coins available in any platform.
- There’s a whole scope of things that can be done potentially in the future, some say that cryptocurrency has the possibility of existing monetary currency as well.
- Although, the thought of money vanishing seems highly likely, what is more realistic is that cryptocurrency can be used to make purchases for existing products, which can be earned by wagers and playing games.
- Certain stores recently even let customers pay by cryptocurrencies suggesting that a whole array of industries would soon adopt the latest internet trend, but one that is far more reliable and much safer to invest in and control.
- Gaming earlier was only looked at as a means of entertainment and stress buster but now, it gives you the chance to earn money (Arcade coins) which can be legally used and spent for actual purchases. The future certainly is here!