The Future of Cryptocurrency in Online Gaming
Cryptocurrency is fast gaining popularity in the world. Such virtual online gaming currencies include Aion, Animal Crossing, Asheron’s Call, Banjo Kazooie , and Banjo Tooie, just to mention but a few. The digital currency’s use and applications have substantially attracted the use of millions of people around the globe in all If not most industries, be it food, finance, hospitality or even entertainment. In the gaming world, online gaming is also becoming a “thing”. This is because internet use and speeds have drastically improved over the years, and this provides a perfect environment for simultaneous gaming irrespective of location. Also known as online gaming.
A gamer can easily make use of the online currency to make payments for access to the online platform. This can easily allow one to quickly access the platform and carry out gaming without the stress of currency conversion. This saves on both time and considering that it is a very popular form of exchange among millennials and the x-generation, it is globally accepted. The majority of online gamers worldwide are millennials and x generation. This is a group of individuals that are tech-savvy and pride themselves in being up to date with the current trends in technology.
Future Projections in online gaming
Virtual games are a whole reality on their own. Virtual gaming and online games have been incorporated already, in that, within a game, one can use the virtual currency within it to make any purchases within the game. In the same virtual reality, online games and cryptocurrency can be incorporated. This means that the virtual currency within a game is monetized and given value, hence made into a cryptocurrency. Once this is done, the money that was just virtual and used within the game can be used since it has real-life value.
This, in turn, raises the stakes of online games, as it will be a reality on its own. The players will experience real-life value and can be able to make purchases. This will revolutionize online gaming and virtual gaming as the use of cryptocurrency goes across all platforms.
The popularity of online games will increase as money obtained or lost within games will have actual value. Also, game manufacturing enterprises will increase in value due to popularity and this directly leads to improved graphics and quality in the games. This is because of the rise in a competition that will be among companies and platforms that host online games in a bid to attract more gamers/ users.
Consequently, should the popularity of online games increase significantly, there could be a decrease in the amount charged by platforms to access them. This is because there will be an influx of users, and due to competition among the providers, they will be forced to have very attractive rates for the service.
Just like in any other industry, there is bound to be an online games giant. A few or a single company will stand out as the best in offering the online games platform. However, before this is achieved there will be an influx in online gaming platforms. All potential companies will improve and integrate the use of cryptocurrencies within their systems, and games (most games) that can be played virtually will have an increased online gaming audience.
Expected negative projections
The monetization of in-game currencies will lead to an increase in the number of online games. This is because the playing of any game by anyone in the world can lead to the creation of money in the form of a cryptocurrency. There comes danger to this popularity. As we’ve witnessed in the current society and the past few years, the use of the internet changed everything. With it came statements like “the world is in your pocket”. It has been a challenge to control the ease in access or creation of websites by underage children or anyone who is not termed to fit the age of potential users.
A similar challenge will arise in the case of online games and the use of a cryptocurrency, as even underage users will be in a position to trade in actual money during online gaming. Young children will not be spared from the games, as most games if not all will be monetized. This means that any coins or rewards in games that served as being an incentive to win will be overlooked, and the main priority will be to accumulate wealth.
With the revolution of online games and cryptocurrency, there is bound to be an increase in cybercrimes. This is because almost everyone will be a potential victim. The crimes might even go further and become physical, where one is ambushed and forced to transfer their digital currency to an account. Since they are untraceable, tracking them will be a very difficult task.
It will also encourage online slavery. Everyone wants to make money and amass wealth. In a scenario where both can be achieved via online games can be a dream come true for many. Gaming is fun and enjoyable and one can easily become addicted especially in a case where the stakes are a bit high. One can solely depend on online gaming for survival and this can easily lead to addiction, hence online slavery.
Increased cyber crimes will be a definite outcome of the revolution of online games. In this context, users with accumulated wealth in the form of cryptocurrency can be targeted by hackers. Therefore, in platforms where the security features can be compromised, users will suffer immensely as a result.
The fate of Cryptocurrency in online gaming
For the majority of online gamers, this is a beautiful and quite exciting future. Cryptocurrencies will take over the online games world and this only increases the stakes. It will provide meaning and increase the money-value of the gaming world, whose initial value was in just fun and interest. This is a future many people hope to witness and be a part of.