What do Gamers and Crypto Miners Have in Common?
Cryptocurrency has grown in popularity around the world in recent years. The ease with which cryptocurrencies can be used benefits a variety of industries, one of which is online gaming.
You’ll be surprised to learn that the gaming and crypto communities overlap in many ways, and even when they don’t, there are many features and experiences that they share.
According to a Wax research, over 75% of online gaming players desire to exchange their virtual assets for a currency that can be used to buy and sell on other platforms.
Players can accumulate and trade virtual assets using cryptocurrencies, which they can exchange and trade anywhere in the world. As a result, it provides a safe and simple way for the gaming industry to make money.
Coming back to similarities, the above mentioned reason is the major cause of gamers showing the same traits as crypto miners.
But how, one may ask?
Novelty and early Adoption
Gamers are eager to explore new items and to experiment inside the games they play, from secret combos to finding easter eggs, let alone map and/or mod creation. Many well-known games were actually mods produced by gamers.
While cryptocurrencies have not yet been widely adopted by society, those who have taken the time to investigate the subject are inquisitive and innovative to the extreme. Just like the majority of players.
Bad UX and the glitchy world.
You must be either really passionate or highly determined for the crypto world to traverse it. If you are neither, you will be lost in the tangle that is the crypto user experience. To move your funds, much alone trade them for more real items, you need wallets, exchangers, and numerous schemes.
While it would be a stretch to call the gaming UX “bad,” PC gamers are accustomed to glitches, bugs, hacks, workarounds, server downtimes, network configurations, and cracks. This is especially true for the “older” generation.
Gamers have witnessed game and esports UX progress from the Stone Age to overwhelm many of the entertainment industry’s historical heavyweights. Who better to take on the floundering crypto crowd and utilise their knowledge to help both? That being said, changing the crypto UX will be a massive undertaking that will necessitate the participation of the entire community.
The need of Inventiveness and hacking
To best satisfy the demands of the consumers, both gaming and cryptocurrency trading necessitate inventiveness and hacking.
How many players learned to code by breaking or attempting to change game save files? Cryptocurrency entrepreneurs also require technical skills in order to create automation scripts and a variety of other tools to ensure the success of their ventures.
To uncover solutions and hacks, both gamers and the crypto community have always had to delve deep into documentation.
For decades, gamers have used quasi-crypto technology.
We recently realised that, while our in-game items and currencies are not stored utilising blockchain technology, they perform the same function as crypto-assets.
With the exception of the decentralisation component, in-game currencies are very similar to cryptocurrencies. They are scarce, designed to establish a functioning in-game economy, and fungible.
While in-game things are non-fungible, they can nevertheless have value and be sold between players utilising basic economic principles.
The parallels between crypto tokens and in-game assets are astounding, but so are the hurdles that must be overcome when attempting to construct a stable and economically viable token system. This is one of the domains where the combined experience of gamers, game makers, and the crypto community may benefit both.
While the rest of the world has been swept up in the cryptocurrency frenzy, gamers have been living in a similar ecosystem for years. They are not only familiar with the characteristics of crypto, or virtual currency, but they also feel at ease in this environment, for reasons they do not fully comprehend.
What’s in it for the world?
Surprisingly, the gaming and crypto worlds cross in a variety of ways. Obviously, this is a tremendous selling point for people looking to run gaming-related crypto projects and build blockchain-based gaming systems.
The issue is that many of them are attempting to capitalise on the buzz rather than actually attempting to develop both the gaming and blockchain areas. After all, the spectacular rise of both disciplines in recent years is a huge attention grabber. That’s when ArcadeNetwork comes into the picture. ArcadeNetwork is the world’s first decentralised platform providing cross metaverse asset interoperability. Making use of Blockchain technology & NFTs, ArcadeNetwork creates a unified relayer bridge that enables seamless movement of in-game assets between different games.
The introduction of blockchain will not instantaneously make the game business better than it is.
It does, however, open up some highly appealing possibilities.