How Gaming In Cryptocurrency is Rising as a Make Money

 

The use of blockchain technology is spreading to many sectors primarily due to the increased use of cryptocurrency. But, how does online gaming work in the cryptocurrency world? 

Don’t you have any clue? 

Here is everything about crypto gaming! 

The technical definition of crypto games states: a category of video games that operates on a cryptocurrency network and incorporates distributed ledger architecture. In recent years it has  not only gained momentum but has become a breeding ground for new innovation in the online gaming sector. How? Well, many developers continue to probe new methods to purchase and trade in-gaming related products and much more. 

The global market for video gaming is very lucrative where in the year 2020 it was valued at $173.70 billion and is estimated to reach 314.40 billion by 2026. In fact, big companies such as Sony, Tencent, Nintendo or Microsoft register a gaming revenue of more than 10 billion dollars. Taking this growth into consideration coupled with new developments in PC and mobile gaming, a significant growth is observed in this regard. Moreover, in a recent report published by Worldwide Asset Exchange, about 75% of online games in the world wish to change their virtual assets with a currency that can be used across various platforms. 

How Does Crypto Gaming Works? 

A query that must be irking your minds is the fact that how crypto gaming helps in making money, right? 

In the conventional online gaming industry, ways of monetization include affiliate marketing, in-app purchases as well as in-app advertising. Apart from this, the use of virtual coins have been a cliche way of playing online games, such as Candy Crush or Monopoly. Unfortunately, in most cases these coins hold no value. Well, this is where crypto gaming finds a place to fit in wherein it allows the users to add value to the coins or their purchases while playing video or online games. 

The tokens stored on a distributed ledger or blockchain let the users to trade game products with cryptocurrency and in future these can be transferred for real money. In the cliche monetization method (in the gaming world) of in-app purchases, it allows the users to buy items such as coins, customised characters, extra lives, accessories or even outfits. But when crypto steps in the gaming world, in-app purchases are carried out when the respective users purchase items through cryptocurrency tokens. Moverover, since the ownership of virtual products are present with the users of players, they can trade all the virtual products in exchange of cryptocurrency tokens and those tokens can in-turn be traded for real money. 

Until now, online or crypto gaming have been all about entertainment but as and when the concept of cryptocurrency has forayed into this industry, these games are not only enabling fun or entertainment but they come with an added advantage of earning money. Isn’t it interesting? Well, if you too want to be a part of this crypto gaming industry or decentralised gaming (as it is popularly called) then make sure to register yourself with emobank.digital right away. This is because EMO Games is one such component of Emocoin that is spreading the adoption of decentralised gaming among the masses. 

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