The Adoption Techniques Of Cryptocurrency In Gaming Industry

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INTRODUCTION

The gaming industry today is one such industry which has seemingly adopted cryptocurrency and this has led to significant impact and improvement of gaming industry to evolve more than what we were used to.

Gaming adoption of cryptocurrency is no more any suprise and it's something that continues to grow and in my post I would talk about applications of cryptocurrency in gaming, the application is really there for all to see.

APPLICATIONS OF CRYPTOCURRENCY IN GAMING

• PLAY-TO-EARN MODELS

This is one of the great applications of cryptocurrency to the gaming industry, it has really added a new leave to what we earlier understand game to be unlike the normal fun and entertainment stuff only gaming now has evolved so much now to include so much than that into what we know as play to earn models.

Because of the adoption of cryptocurrency in gaming players and game users enter the gaming space knowing they stand a real chance of earning de playing, a world where you could make a living by playing game, funny right. Well cryptocurrency Adoption in gaming has paved the way for this.

So play to earn model where we play game and earn rewards is the extra incentive cryptocurrency has added to gaming industry making games even more interesting and attractive.

• NFTs (NON-FUNGIBLE TOKENS)

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Also the adoption of cryptocurrency in gaming has led to a unique opportunity of players being able to own this rare items in the form of nft, the opportunity here is not like anything even seen before in the gaming industry because nft are now easily owned by players as the game affords them that.

Depending on the game there are many ways this players or users earn nft which could be from playing the game itself players are able to rake up unique collectibles in the form of nft and the amazing or beautiful thing is that this nft has real world value and are quiet unique piece making the worth it and infact they are such that players or users could trade their own collection in-game and get the cash.

You can earn this nft by playing, you can get it by trading as well and the wonderful thing is that not only can one have true ownership of this nft but you can also be able to create your own, yes that's the luxury afforded to gaming industries by the adoption of cryptocurrency.

• DECENTRALIZED MARKETPLACES

Cryptocurrency adoption in gaming has also led to a decentralized marketplace, this market place is not any where else apart from in-game, the market place is in-game an opportunity to buy and sell your collection since we have a real chance of true ownership made possible by blockchain technology.

Players easily trade their assets in this market place with ease and no third party is needed to facilitate this trades as they are able to engage directly with each other. In this decentralized market place the user is able to engage with another user and sell their unique asset easily or buy as both sellers and buyers operate here knowing transparency is guaranteed.

Decentralized marketplace which removes intermediaries is one major application of cryptocurrency to gaming and major part of the innovation brought to the gaming industry and this has made possible in-game purchase which is truly remarkable.

• ENHANCED SECURITY

Also since cryptocurrency inception into gaming it means too that gaming is now blockchain based, so for these blockchain based games it means the security level is now much more than what they are used to, blockchain offers a much advanced security feature to gaming making it almost impossible for hackers to possibly fathom hacking it.

The transaction now in games are much rather secure as they are done or facilitated using blockchain so knowing our asset is not at any risk of being hijacked creates users trust ofcourse we own and have peace of mind and trust our in-game transactions are secure, which better innovation could possibly happen to the gaming space than this, truly cryptocurrency adoption in gaming is a welcome development I believe.

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CONCLUSION

Well blockchain with the team of developers continues to improve as we have seen with many chains undoubtedly this improvement would also affect positively anything built on blockchain further improving the efficiency and security and already gamin industries would be at great benefit for the integration of cryptocurrency as the benefits are quiet immeasurable.