Cryptocurrency in online gaming
Cryptocurrency in online gaming
In modern day MMOs, MOBAs, Shooters or any games in general that have a cash shop to buy in game items, the go to method is paying by cash, whether it be through the means of PayPal/Visa/Debit card. The question is, with the way that crypto has been developing and rising in popularity in the last 10 years, will we be seeing it being used more prominently in the online gaming/trading industry? While it may seem like a reality in the next coming years, it is not quite straightforward as it looks. Some factors to consider are:
- Value of the crypto to the gaming company as a piece of currency
- Fairness in trade due to the large number of people who are not involved in crypto
- Factor in RMT (Real market trading) aka TOS breaking means to trade other players in-game using cryptocurrency
- Conversion rates of cryptocurrency continuously changing and can be influenced by third party factors make it an unstable use of currency for trade
With a few factors taken into account, it seems harder for cryptocurrency to become viable for online trade within the gaming industry in the next few years. However it may become legitimate to some extent or possibly among a smaller field of games/communities. With that being said, there is almost certainly going to be an era where TOS breaking means of in-game trading of items will be made using cryptocurrnecy, as it is purely player side and does not need to be approved or accepted by none other than the two players involved. With cryptocurrency rising faster and faster in popularity by the day, will we see transition into these industries involving crypto in their trade? Or will crypto still remain as an online asset with no liquid value and remain to be as such?
Let me know what you think of cryptocurrency making its way into online games trading!
