Because we spent so much time indoors during the pandemic, it looked like the lockdowns had turbocharged the gaming sector, which is currently seeing massive growth.
More than £1.6 billion ($2.1 billion) will be invested in video games by 2020. blockchain-based gaming’s ascent Crypto games integrate the two techniques, whether by utilizing an NFT marketplace or allowing players to earn bitcoin incentives through gameplay. Cryptocurrency and gaming are proving to be a winning combo.
What exactly is crypto gaming?
Because traditional sports are centralized, all things and experiences (XP) obtained while participating cannot be transferred to other games. Crypto gaming (https://crypto.games)also allows gamers to make money. This is known as a play-to-earn approach, and players can implement it in several ways.
Who is taking part? Has Gen Z grown up enough for this?
Gamers are the primary target audience. According to crypto payments platform Triple-A, teenagers are the biggest age group associated with crypto gambling. With Generation Z growing up & taking active participation in financial activities, traditional gambling methods are finding their way into extinction. Instead, they are replaced by new-aged virtual crypto token-based gambling that is safe, secured, easily accessible, and agile.
Global participation in Crypto Gambling
It has been found that gamblers all over the world find it interesting to use cryptocurrencies for their gambling purposes. The majority, though, lies in the sub-Asian continent holding a market share of more than 38%, with its crypto gambler user base standing high above the 2021 data of 0.22 billion active users. The following are the demographic data for the active crypto gamblers’ user base
|Demographics / Region||Active Crypto gambler User Base as of 2021|
|Sub Asian Continent||22.6 million|
|Middle East||5.8 million|
|North America||3.3 million|
Why & how is crypto gambling gaining the buzz?
There has been no new invention of rocket science in crypto gambling. It’s the old wine in the new token of cryptocurrency. The games are just virtualized, and instead of the national currencies, the safer & agile ones – Crypto tokens are used extensively.
Another important concept that acts here is the secure blockchain technology that gives flexibility to crypto tokens. These tokens can be easily exchanged, traded & even used for barter purposes. And websites like https://crypto.games with their hassle-free withdrawal & exchange process, have made the hot knife slide through the butter.
Is it all good under the roof?
Every coin has either side & only speaking of the good part will be an injustice to all my readers. As we all crypto tokens are highly volatile & dynamic, with their values changing every moment. Any crash or a bear run in the market could make the player lose his capital value substantially.