When cryptocurrencies were first launched, people weren’t necessarily predicting the evolution that they would cause in some industries. Finance was the obvious area to be transformed and we have seen an incredible number of changes in this industry. Think how differently things work now when compared to 10 or 15 years ago. Making payments is completely different for some people.

There are more industries that have also been revolutionized and changed due to the fact that cryptocurrency and blockchain are now established technologies. Gaming has been one of the main examples of this with a lot of companies changing their business models based on crypto.

We’re exploring what is happening in the world of gaming and speculating about the future of gaming. There are even rumors that the most anticipated game of all time could launch a cryptocurrency alongside it!

The Impact So Far

One of the most visible impacts has been in the online casino industry. Many digital casinos now accept cryptocurrencies like Bitcoin as a payment method. This shift has introduced new conveniences for players, such as faster transactions and increased privacy. 

There’s no waiting for a bank transfer or dealing with currency conversion headaches as crypto simplifies the process. 

Poker has proven to be one of the niches of gambling that has introduced crypto quickly. Casinos are giving people the option to play different forms of poker including Texas Holdem but using crypto to make the deposits and withdrawals. This is an increasingly common way for people to play. Online poker players have potentially seen the benefits of crypto in terms of faster payments into their accounts. They don’t have to wait for the cryptocurrency transactions to be approved by any sort of middle-man service or bank.

Poker has a long history that has seen many twists and turns so cryptocurrency is only the latest development in a long history. Many people learned to play poker long before the idea of cryptocurrency had even been considered and it has continued to grow and evolve in the digital age.

Blockchain technology is being integrated into games themselves. Axie Infinity and Gods Unchained have both introduced the concept of play-to-earn gaming and this is a term people are becoming more familiar with. Players earn cryptocurrency or unique digital items that can be traded or sold. You could say these games have more impact in real life!

The NFT boom is still proving a demand for this decentralized technology. It has made its way into gaming and gives players the ability to own unique in-game assets. Unlike traditional games where items or characters are stored on company servers, NFTs let players truly own their digital goods. Whether it’s a rare sword or a plot of virtual land, these assets are stored on the blockchain. This means they can be traded or sold outside the game.

Collecting rare digital items or earning cryptocurrency through gaming now appeals to people who might not have picked up a controller in the past as it is a different type of gaming.

We have even seen rumors that there will be a specific cryptocurrency launched alongside one of the biggest game releases: GTA6. This may well be the most-anticipated game ever and has spent a decade in development. Some have speculated that there could be a crypto reward system along with the game.

The Future of Gaming and Blockchain

Game developers and tech innovators are exploring ways to use these technologies in ways that go far beyond payment options or collectible items.

One major area of potential is true player ownership. Blockchain could allow players to take their in-game items across different games or platforms. Imagine a character skin purchased in one game being usable in another or a weapon moving seamlessly between virtual worlds. By standardizing assets on a blockchain it is possible that developers could create interconnected ecosystems that make the gaming experience feel more unified and personalized.

Decentralized gaming is another concept gaining traction. Games could run on decentralized networks rather than being controlled by a single company. This could give players more control over game rules and updates. Voting systems might allow players to influence how a game evolves and make them part of the development process. This is something Decentraland has already experimented with.

For competitive gaming and eSports, it is also possible that blockchain could bring increased transparency. By using smart contracts the payments could be done automatically. This helps ensure that players and teams receive their earnings without delays or disputes. 

Many games already have thriving marketplaces for buying and selling items and blockchain could make these systems more secure and player-friendly. Crypto tokens could become the main currency for in-game purchases. 

Conclusion

There are new cryptocurrencies being launched all the time and people will be trying to keep an eye on those that are growing quickly. Some are linked with gaming and beyond crypto the blockchain technology that drives it is also being used to change the way games are developed.