How Are Cryptocurrencies Disrupting the iGaming Industry?

Cryptocurrencies are fantastic for online purchases, especially in-game purchases. It’s instant, easy to use, and players don’t have to leave the game for an external online payment page. This payment method is also excellent for microtransactions, which abound in the iGaming world. Some cryptocurrencies can be fractioned, and others are very cheap.

If you’ve played mobile games before, you know what we’re talking about. You buy a new game in the app store, which comes with loads of items for in-game purchases. You decide to spend some more money and buy a few of them. Once you get bored of the game and stop playing it, there’s no way to recover the money you spent buying stuff.

Thanks to NFTs, players get to resell their items when they no longer wish to play a game. Better still, blockchains and NFTs allow gamers to actually “invest” in in-game items and earn tokens that can be exchanged for real money. The possibility of making real money simply by playing games is heating the industry and attracting scores of new users daily.

Money never comes for free, though. While some games offer legitimate ways of earning money by playing, most have a buy-in price; it’s not always cheap. Consider the game Axie Infinity, for instance. In this Pokemon-like battle game, new players need to buy three creatures to start the game. Each creature can cost from 70 bucks, which means an initial “investment” of USD 210.

If the new possibilities are indeed exciting, there’s still a lot of room for improvement. Developers must create items that are valuable in secondary markets.

The “play-to-earn” mentality gives everybody a fighting chance. Meanwhile, “pay-to-win” games reward players with the deepest pockets, not the most skilled or dedicated. Anyway, cryptos and blockchain have changed the online gaming environment forever.