Every year, people wonder how long the cryptocurrency hype will last. With the market volatility and the crash it faced, some believe that the era of digital currency is over, but arguably, it will always come back. but why?
of the month Fintech Times It reveals why digital currencies, especially cryptocurrencies, are gaining popularity, new alternatives to cryptocurrencies and why the digital future looks so attractive.
This month we take a look at some of the most popular blockchain initiatives in various sectors. Here we will take a look at the game world.
we hear from Richard Gardner, Uldis Theraudkarns, Daniel Belda, Amy Kilner About some of the latest ways blockchain technology is being integrated into games.
games to play and earn
Richard Gardner Chief Executive Officer coefficient, which provides high-tech products and services to businesses, said: As the playing field becomes more competitive, the demand for ever-increasing interaction will rise.
“P2E Arena believes blockchain initiatives should be an important part of marketing budgets. Sherry Levine At Glengarry Glen Ross, you don’t have to spend a lot of money on marketing when you can simply pass those savings on to your consumers. He made that argument more geared towards prospective real estate investors, but why shouldn’t it also help encourage gaming? By inserting these blockchain-based rewards, gamers The industry is moving towards rewarding the most active members and ambassadors in the community as they compete in tournaments and use the markets and products offered through the game. ”
CEO Uldis Teraudkalns nexpay, A provider of next-generation financial infrastructure said: This sector is currently attracting significant investment. In the first quarter of 2022 alone, investors poured over $2.5 billion of his money into cryptocurrency games. This is expected to reach $9 billion by the end of the year. Like any new industry, there are many challenges, but these are also areas of opportunity. There is a need for better crypto onboarding, gaming infrastructure, and tournament software, just to name a few.
“There is no competition for blockchain-enhanced games as the traditional gaming industry still refers to blockchain as an incomprehensible or even ‘toxic’ space. This gives smaller studios that haven’t yet created a large game franchise a big head start in development. The ability to quickly launch an in-game economy allows developers to quickly fund the continued development of their game.
“Another exciting example is play-earn blockchain games, which allow players to earn while they play. This is rapidly becoming an alternative career for many people in developing countries. The Philippines currently has a very large population of cryptocurrency games, with Axie Infinity, for example, accounting for 40% of its player base.
“Nexpay provides banking infrastructure and services for digital assets and cryptocurrency businesses, and the game has a lot to offer in areas such as better onboarding, more transparent regulation, and building a more robust ecosystem. It’s a very exciting and very new industry.”
Daniel Belda, Head of Product Strategy for Embedded Financial Providers, said: open paid Added: “The killer use case for blockchain is any setting that needs to maintain a single record of ownership. It has meant unique and non-fungible use cases.
“So what does that look like in games? Gamers spend a lot of money in the digital metaverse, so cryptocurrencies have a role to play there as in-game currency. The ability to own, buy and sell unique digital goods is fundamental to the allure of living in these virtual worlds, as well as creating goods, from customized digital clothing to virtual land. Open up a whole new market to sell.
“An example would be snoop dog Snoopverse is built on Sandbox, an Ethereum-based virtual world. Here he recreated parts of his real-life mansion, allowing other players to buy properties in his digital his neighborhood. Premium His users can access other digital services such as concerts and virtual pool his parties. It’s hard to underestimate how transformative this is. Beyond selling digital services, Snoop has found new ways for musicians to monetize their metaverse presence and create a new class of products that offer real value to their users.
“None of this is powered by traditional finance. No need to take your credit card out of your wallet and enter your card details every time you make a digital purchase. Blockchain, e-wallets, embedded accounts. will be the primary facilitator of Metaverse Commerce.”
value to the chain
Amy Kilner, NFT, Skyhi Design House Founder says:
“Holding” an NFT, i.e. buying or investing in a project, can be used as access to existing game perks. A great example of a brand doing this is Deadfellaz. In their discord you can find different chats for different metaverse gaming platforms. They recently worked with Sandbox to put characters in there as well! All in all a very innovative way to add more value to the eth chain and the project and grow the brand and I think this is the future I believe 100%. ”