Get ready for Minecraft coins

gavvet (78)in #news • 7 years ago (edited)

Just a matter of time before Microsoft jumped on the virtual currency bandwagon... with online wallets on x-box live.

Not quite a cryptocurrency yet, but moving in that direction by enabling a virtual storefront and economy for game developers.

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The new coins can be bought via any supported device that features an app store, such as iOS, Android or Windows.

These coins will live in a user’s Microsoft Xbox Live virtual wallet and be accessible for marketplace purchases on any platform.

Interesting, more mainstream times for virtual currencies ahead.

#crypto #mainstream #microsoft

7 years ago in #news by gavvet (78)

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automaton (56) 7 years ago

Funny..Years ago I approached Zynga about exchanging Cityville coins for Bitcoin....Utterly Ignored...It's amazing how closed minded some people can be.

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automaton (56) 7 years ago

By the way the "Virtual Asset" space is just getting started. It is the perfect way to monetize intangibles.

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demotruk (69) 7 years ago (edited)

Games and game companies have had virtual coins for years. There are various systems of points, gems etc. that are essentially custodial accounts where the company is entirely in control. Is there any indication that there's anything more to this story than that?

If anything, schemes like this undermine cryptocurrency by being so conceptually similar from the user's perspective, but without the potential to be something bigger.

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azfix (65) 7 years ago

Blizzard was the only one that came close to something cool with people being able to trade its coins (Diablo) for real money. They did it for a little while with Diablo and some people made a bunch of money selling virtual items but for some reason they eventually put a stop to it. I think the same thing could happen with Minecraft coins

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gavvet (78) 7 years ago (edited)

Whats different is that the economy is being expanded. Microsoft is experimenting with decentralizing.

“For the first time we are going to enable creators to come in and put content into our store alongside the same content that Minecraft makes,” said John Thornton, the game’s executive producer at Microsoft.

“The real impetus is to let creators connect to players and help them make a living on top of Minecraft.”

A store within the game does already exist but is limited to only items created by the Minecraft development team.

but the experiment is limited

There are restrictions, however, to protect Minecraft’s large numbers of young players.

“Every piece of content in the store is reviewed by Minecraft,” said Thornton, so much like Apple’s app store nothing is likely to hit virtual store shelves without it being vetted first.

In my opinion the more comfortable people become with points, virtual coins etc. The more easily they will accept crypto in the future.

If I tell someone I introduce to steemit that you earn points that you can keep to yourself and spend on anything, it is understood a lot faster than dragging them unwillingly down the entire crypto road.

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