Are blockchain and gaming virtual heaven? A technological merger, a revolution. Most will answer yes, but why? What link do cryptocurrency and gaming have between them? Can the gaming industry gain any profit from cryptocurrency or blockchain?

If you are unaware of what cryptocurrency or blockchain is, you might be thinking maybe a new software is being launched, well, it is a cryptocurrency that can change the entire gaming industry scenario.

Today there are numerous cryptocurrencies in the market. Each one has its name and brand. Likewise, their trading value is different as well, with new cryptocurrencies releasing almost every now and then. Now, do remember just like a country’s currency is used only in the country, likewise, each cryptocurrency like eKrona Cryptocurrency has its domain where it is used. The first bitcoin (released in 2008) is virtually used everywhere. You can transfer money to family and friends. Buy anything online as well.

Likewise, altcoins, generally known as bitcoins, alternate. But you might be surprised to know some altcoins (the first altcoin- Namecoin released in April 2011) are more famous than their bitcoins and give strong competition. Plus, each altcoin has its unique purpose. Next to bitcoin, in the second position comes Ethereum. Though today it is considered a cryptocurrency, it was not launched as a cryptocurrency on par with bitcoin. Ethereum was introduced to be used as a Smart Contract. Ethereum was not made to use as a digital currency, but to be used to block votes, and representation sharing as well.

Now, back to our gaming topic, and our gaming-specific altcoins. People who play online games should know about Nexium and GameCredits. Both are digital currencies used to purchase in-game subscriptions, and in-app or game purchases. By utilizing GameCredits for purchases during gaming, is quite beneficial for the game developer compared to the traditional payment processes such as PayPal, bank cards, etc. The reason behind this is the high commission offered by mobile platforms. Plus, a large variety of “chargeback protection” is utilized, which PayPal developers frequently encounter.

There is no disbelief in the facts:

  • The cryptocurrency industry and virtual gaming are fresher fields.
  • The cryptocurrency industry and virtual gaming are going to play a vital role in the technical domain.

Fred Ehrsam, part-founder of the First bitcoin trading platform feels VR might just be the killer app for blockchains. But why so? After all, can a reorganized leader with complex algorithm cryptography, merge into the gaming of immersed entertainment for that matter?

At present, few projects are on the floor to answer this very question. The purpose is to provide an innovative and promising solution that can profit and help shape a brighter future for both industries. Most of these projects are going to be based on using the Ethereum blockchain. In specific, the ERC-20 and/or ERC-721 token protocols will be used to execute the smart contracts and/or by incentivizing users.

One such example is Decentraland. Decentraland is a VR platform where a user can experience a new creative world. Here, you can monetize your content, and applications as well. It is also the most significant Ethereum blockchain VR platform. Accordingly, it has a market cap of $55 million and around 20,500 holders.

What is Decentraland?

Though Decentraland is still in the embryo stage, it has placed itself as the underside interacting world. A world where people can just pop up from any VR goggle and explore a brand-new virtual world full of new insights and a plethora of activities. Oh! And do not forget to purchase LAND and create your parts on the way.

There is no doubt, today gaming is one of the best cases where blockchain technology can be used with a promising future. Be it non-fungible tokens or decentralized in-game economies, the possibilities are just the beginning.

As you know nowadays, people make money from gaming. So, as a player, how much can you make, and what challenges do you face?

Yes, today while gaming also you can make money, real money for that matter. Now, what more could you want, play games, and make money along the way? Most of this is possible through Esports as of now. If you are a really good player, then you have chances of winning tournaments, and win cash as well. Another way is to stream. All you must do is play games and let the people watch it. You earn through the ads shown during the game. Though, to play and make money from it — either in-game items, is not clear-cut yet, but the probability is full.

Today, developing games with blockchain is a good idea. Yes, the technical barrier is still quite high, the reason behind game developers stopping from creating games for these types of systems. Though, it is not a bad idea, so thinking to change is not wrong.

It is quite like how today JavaScript is important for all developers. Likewise, a day might come when developers will have to learn blockchain as well. After all, blockchain is a valuable service.