A lot of gamers have no idea about the existence of cryptocurrencies in the games they usually play. In case you don’t have any idea about it too, cryptocurrency is actually a digital asset designed with the idea of making it work as an exchange medium in cryptography that can help secure transactions and take control of the idea of producing an additional unit in terms of currency. Perhaps, a lot of people don’t get to know how in-game currencies make everything more interesting when it is utilized to buy old school runescape gold in video games.
Most type of cryptocurrencies is actually decentralized—which means that there is no specific organization that takes control of the currency. The value of this cryptocurrencies and the transaction where it is being used depends entirely on the persons who are using them and mining it.
Why Cryptocurrencies Are More Interesting than Virtual Currencies
While both may have advantages and disadvantages, there is no mistake that cryptocurrency is more interesting than virtual currencies when it comes to two-way usage and decentralization.
You can find virtual currencies almost everywhere—in mobile games, online role-playing games, or even in F2Ps using any platform. When playing a game, you can easily get or purchase virtual in-game currency to spend on the things needed to progress through the game. You may be even given this without charge; however, this type of currency will only stay within the game’s ecosystem.
The value of virtual currencies is somehow fixed by the game’s developer, which is only meant to be used within the game and is actually used as a driving force to make the players attracted to the game even more. This means that virtual currencies are only one-way currencies. That is one thing that makes cryptocurrencies superior to virtual currencies.
What Cryptocurrency Can Do in Games
There are some games that started using cryptocurrencies such as Game Credits. Game Credits are somehow like virtual currencies. The only difference is that you can sell it back, utilize it in other games, and its value changes along with the market’s credit change. Cryptocurrencies that are intended for games are actually great since it creates less probability of having fluctuations from the things outside the game. Even if there is an existing solo or multiplayer game that makes cryptocurrencies move around a lot, the risk is lesser compared to using more than one cryptocurrency.
Cryptocurrencies offer a lot of benefits to the person who possesses it—like making the person stay anonymous. By the nature of blockchains, cryptocurrencies are safer due to the fact that everything is logged, verified, and can’t be compromised at the same time. As mentioned, it can be utilized in more than one game because it is not blocked by a propriety ecosystem. Since it is decentralized, your service will never go down. Plus, the value of this cryptocurrency changes over time—it might be favorable or unfavorable.
Though cryptocurrencies have a lot of pros, to begin with, it can’t be denied that they are still cons lurking around the corner. Cryptocurrencies are actually a relatively new sphere to ponder about with its benefits and its drawbacks. With the right support and approach to this type of currency, any game which involves it will surely become a profitable business; the one which has multiple sources of income.