Crypto Gaming News
There are often comparisons made between the growth of esports and the growth of cryptocurrency. Throughout the last ten years, cryptocurrency has steadily emerged into the financial world, becoming a lucrative and massively popular form of currency. Once upon a time, it was a mysterious and unknown concept, but today, cryptocurrency as a market is dramatically valuable, volatile, and exhilarating.
In one swift move, we can apply those same terms to esports, an industry that is also experiencing explosive growth and gains in value. Today, industry titans on both sides of the fence are finding new and inventive ways to combine these two verticals. And, right now, the end results are Crypto Gaming and NFT Gaming.
This Is The Home For Crypto Gaming News
As these industries grow exponentially, there’s a serious requirement to cover breaking crypto gaming news. It’s an ever-changing world out there, and new developments and deals are taking place on a near-daily basis.
But what exactly is crypto gaming?
Let’s take a look at a traditional video game with a storefront. In many cases, you’ll either buy in-game tokens or coins (which have no external value) or use fiat currency to purchase in-store items. There are a number of drawbacks here: the items you purchase cannot leave the game, you cannot trade them for monetary value, and the tokens are worthless outside of the platform.
Now, let’s imagine a game with a storefront powered by and hosted on a cryptocurrency network. At the foundational level, this will allow players to verify ownership of items, to trade items, and to offer these items a true-to-life monetary value. Furthermore, and it’s a piece of crypto gaming news that excites players, you can earn money through gaming on a crypto network.
From Crypto Gaming News To NFT Gaming
We’ve mentioned NFT Gaming alongside Crypto Gaming, but what’s the difference? In many cases, there can be confusion, and the terms are often mistaken as being interchangeable. To define the latter, an NFT is a non-fungible token. It utilises the distributed ledger architecture that the broader cryptocurrency network is hosted on to verify unique ownership of digital items. Essentially, an NFT can boast an extraordinarily high value because it’s totally unique and cannot be replicated – proof of ownership is a button-click away.
Now, let’s apply that technology to a video game. When you unlock a specific item in a game, it can come in the form of an NFT – and you can carry around irrefutable proof that you are the sole owner of that NFT. Therefore, when it comes to putting it up on the market for trade, you could make a sizeable profit.
Crypto Esports Is On The Rise
The relationship between these two industries is boosted further by the sheer mutual potential offered between them. In recent months, cryptocurrency organisations have taken to the market to sponsor esports organisations, and vice-versa. Furthermore, many esports betting platforms, or iGaming operators, have started offering bettors the ability to deposit and withdraw with cryptocurrency.
On that level, it means that esports fans can win cryptocurrency gains for betting on their favourite esports teams. As crypto gaming news expands, these stories will become much more prevalent. Ultimately, crypto gaming offers a wildly liquid, dynamic, and ever-expanding injection of excitement into the esports industry. In the near future, betting and playing with cryptocurrency and NFTs will become a common sight.
Finally, players will have access to a seamless, secure, and effective way to make money through gaming, with crypto.
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