Digital platforms experienced a boom in the Coronavirus Pandemic lockdown. People turned to Crypto Gaming and Crypto Casinos to spend time and earn coins to cover up for the lockdown losses.
Crypto gaming and Crypto gambling also gained some tailwinds. The peak lockdown around April saw crypto gaming experience more users than ever.
Be it traditional crypto gambling games like BlackJack or Dice to new ones like Bitcoin Crash Game by BC.GAME, this sector had a remarkable uptick in users. The primary audience is younger people, as is the case for the gaming industry.
Users Have Time to Discover Crypto Gaming
Bitcoin gambling games don’t get free publicity in mainstream media. COVID-19 served as a unique opportunity for new enthusiasts to discover all the fuss about Bitcoin. As such, the best crypto games had a unique opportunity to stand out and endear themselves to new users.
Bitcoin itself had a resurgence during this period after the market crash of March. This was true to form because Bitcoin was invented in the aftermath of the 2008 financial crisis. Bitcoin has emerged stronger and looking to end the year on a roll.
Cryptocurrencies help to inject liquidity into these gaming platforms. Notably, cryptocurrencies cannot be censored from a central point. This fact is great for gamers who avoid government restrictions on their activities.
Transactions are cross-border and between users, making them outside the purview of government restrictions. Cryptocurrencies’ decentralisation and censorship-resistant nature make them a perfect asset for online gambling games.
Gameplay offered a unique opportunity to collect crypto tokens and experience the fun of gaming. Crypto gambling is just as fun as online gambling and has a better rewards system for gamers. The success of Cryptokitties in 2017 was a blueprint for blockchain gaming to become the industry it is today.
Trends in Gaming Platforms
During the lockdowns, the gaming scene did not only get new users. Most of them stayed on the gaming apps longer. The increase in average times reflects the popularity and efficiency of online crypto games.
Crypto gaming has also experienced growth from non-fungible tokens (NFTs). These are unique tokens that have specific purposes. NFTs create unique ecosystems where tokens are not freely interchangeable with other tokens and help secure and grow the unique gaming scene.
The online crypto-gambling sub-sector also saw growth during this period.
Bitcoin gambling games utilise the blockchain as payment mediums for instant payments and withdrawals. This results in more efficient processing times. The utilisation of the Bitcoin Lightning Network node has allowed greater withdrawal speeds.
Accordingly, gamers can explore betting, dice, poker, and many other games with the support of tokens like UNI and LINK in blockchain gaming platforms like BC.GAME. The diversity within the crypto gambling sector is truly remarkable.
Using cryptocurrencies to facilitate gaming platforms is also beneficial for cryptocurrencies. More gamers handled tokens for the first time this year and got a feel for this innovation. This creates greater trust in cryptocurrencies because viewing them from the outside can often be misleading.
2020 may prove to be a watershed year for crypto gaming platforms. The fact that Bitcoin and Ethereum have had a great few months is down, in part, to the growth of these gaming platforms.
Users Get Benefits From Blockchain Gaming
Bitcoin crypto gambling also has unique benefits for users. Their increased popularity is not simply because time is playing its course. This industry offers unique advantages to users that translate to increased popularity for blockchain gaming.
Users play and work hard in centralised gaming platforms to earn in-game items. However, they have limited functionality with the in-game items. In most cases, users are not free to freely trade these items outside that gaming environment.
This is where cryptocurrency comes in. Online crypto gaming is more empowering to users because community gaming comes to the fore. Users interact more and can exchange items peer-to-peer seamlessly. They do this without worrying about geographical and regulatory hurdles that cripple other gaming platforms.
The gaming experience is better tuned to the interests of the gamer. These assets also gain value because they are denominated in cryptocurrencies. Crypto prices can go up dramatically and make owners of tokens richer. Such is the allure of crypto gaming. In fiat, the US dollar or other currencies are difficult to rely on as a store of value because central banks often adjust supply and interest rates.
Additionally, gaming platforms offer skilled gamers the opportunity to put their skills to use. The gaming industry could always use new ideas, and gamers are no short of them. This allows games to be fine-tuned easily and for such developers to monetise their ideas.
How the Future Looks
This industry can still grow to levels that will make this year’s growth look modest. Technology and efficiency always win in the end. That is the value proposition that the blockchain offers to the gaming scene. It will be interesting to track the heights this sector will scale to.