CRYPTO AND THE FUTURE OF MOBILE GAMING
Regardless of how much you do or don’t know about them and how they work, one thing is certain: cryptocurrency is a major topic of interest. Recently, crypto has become at the forefront of pivotal discussions within varying industries.
With talks on leveraging blockchain technology to make business operations more efficient, inclusive, and secure, many industry leaders are at a crossroads. Pertaining to the mobile game industry, we find ourselves, along with the majority of the world, asking: Is crypto the future of gaming?
The Crypto Basics
Before jumping into the nitty-gritty of the intersectionality between crypto and mobile gaming, let’s get the A, B, C’s down first.
A cryptocurrency is essentially a virtual currency that is designed to be exchanged digitally without relying on central authorities, like banks or government. Cryptocurrencies are secured by cryptography and built within the blockchain.
Blockchain technology is the underlying protocol that enables and publicly records transactions. By leveraging blockchain technology, the use of cryptocurrencies ensures that transactions are decentralized, secure, and transparent.
Why Mobile Games Make The Perfect Ecosystem For Crypto
With almost 3 billion mobile gamers worldwide, the mobile gaming market presents a unique space where the adoption of crypto can shift the paradigm significantly in future years. Mobile gaming is still on the rise in markets such as Asia and Latin America; to add, the MENA mobile gaming market is expected to even triple in size throughout the coming years.
Crypto gaming presents a wide range of added benefits, including the potential to get paid for playing with play-to-earn crypto games. As such, according to Quantum Economics chief Alexandre Lores, the mobile gaming market is arguably one of the largest avenues for cryptocurrency adoption.
Benefits Of Utilizing Crypto In Mobile Games
By nature, mobile gaming is heavily reliant on the aspect of monetization be it through in-app purchases, ads, or affiliate marketing. As a secure mode of exchange, cryptocurrency is already proving to be a useful tool in the world of mobile game monetization.
In a blockchain-powered mobile game, users would send crypto units to the game’s or to other users’ digital wallets. With no major difference to how such exchanges traditionally occur, one may wonder what the benefits of using crypto in mobile games would look like…
1 . Efficiency
When looking at crypto, there’s no denying the unmatched ease of transaction. With no intermediary involved in the process, transactions are pretty much instantaneous, which makes the exchange much more efficient for all parties.
The world of crypto and blockchain technology is synonymous with inclusivity; anyone from anywhere can participate in an exchange. With an open, democratic, decentralized system, crypto is enabling financial freedom and individual autonomy for anyone with internet access. This makes room for underbanked populations to engage in mobile gaming and take part in the necessary exchanges involved.
The blockchain enables safe and secure transactions in a way that prevents hacking and fraudulent activity. It also protects the identity of all parties, allowing gamers to participate in exchanges across mobile games without worrying about their personal or payment information being at risk.
With a scope of possibilities that seem to multiply overnight, crypto is already introducing the gaming world to new and exciting potential. From play-to-earn game models that would allow players to earn in cryptocurrencies to in-game NFTs that would enable ownership of assets, some dubbed “crypto-collectibles”, the future of crypto mobile gaming is one with massive possibilities.
The world of mobile gaming is a place where there is constant presence as well as constant transactions taking place; two factors that power and are empowered by the omnipotent nature of crypto. While there’s no way to be absolutely sure, our guess is that crypto will strongly shape the future of mobile games in disruptive ways.