Games that use cryptocurrency: trends and drawbacks
Cryptocurrencies are making their way not only into the music industry. The latest developments in the gaming sector indicate that we are about to see the revolution of the very idea that underpins games. The games that use cryptocurrency push the “play-to-win” model to give way to the “play-to-earn” principle. Blockchain and NFTs are increasingly being used here. So, what does the future hold for games?
Games that use cryptocurrency: an overview
According to online reviews, there are over 10 excellent games that pay in cryptocurrency. In fact, these games have been developed using blockchain technology, so here cryptocurrency and video games walk hand in hand.
Here Minecraft meets the Ethereum marketplace. Users can create their own world and games that remain the property of their creator. Interestingly, celebrities, such as SnoopDogg, use The Sandbox to build mansions.
This is a crypto-generation collectible card game based on the Hive blockchain. Users collect cards with different attributes, battle other players, improve their skills, and earn some in-game tokens.
MOBOX: NFT farmer
The game’s unique infrastructure combines NFT, DeFi, and gaming. Thanks to the access to liquidity pools, users can do NFT farming to generate income and use NFTs in other games and networks.
The EOS-powered blockchain metaverse is the place to buy and sell… geoproperty! Well, the property comes in the form of NFTs (e.g. San Francisco) but can be traded like a physical object. Finding a treasure can earn an NFT or some coins as a reward. The quest for new territories is also rewarded with UPX currency.
Cryptocurrency startup is to pay Counter-Strike players in Bitcoin
The application of cryptocurrency in video games is mostly based on using unique NFT tokens. However, recently bitcoin has paved its way into ordinary video games. A cryptocurrency startup ZEBEDEE has announced the launch of its first servers to be integrated with the popular computer FPS (first-person shooter) game Counter-Strike: Global Offensive (CS:GO). The new model allows users to earn bitcoins depending on their in-game activity.
In general, cryptocurrencies are really great for gaming activity. They have no restrictions on geographical location, so users of any country are able to join the game and compete with each other. This is particularly appealing for CS:GO that is already enjoying international fame.
According to ZEBEDEE co-founder and CEO Simon Cowell, the news about BTC getting integrated into the CS:GO ecosystem has already caused some unprecedented discussion in the gamers’ circles. In his words, so many people have got on the waiting list that the company is now planning to increase the server capacity. He expressed the hope that cryptocurrency may now have finally penetrated the traditional gaming industry, not originally based on blockchain technology.
How to make money on CS:GO?
The mechanism of earning Bitcoin in Counter Strike is the following. First, the user will need to play CS:GO on one of the ZEBEDEE servers. The user will need to download an app on their smartphone and scan the QR code at the start of the match. This will be a small BTC payment, e.g. 100 Satoshi (1 Satoshi = 0.00000001 BTC).
During the game, the potential winnings change according to the number of kills or deaths. The share of the pot will depend on the percentage of the total gaming account.
What does this mean for a player? If a match were successful, the player would get more Satoshi than had been bet. The winnings may be cashed out anytime, and transactions are processed by the Lightning Network.
CS:GO has been chosen for its popularity, a large international following (24 mln active users), and the support the game receives from partners and virtual tournaments. As a result, ZEBEDEE plans to launch servers without any entry fee. This is duly expected to attract even more players and act as an incentive to get educated in the blockchain asset industry. Also, the launch of new servers will let amateur players monetize their gaming experience. So far only professional players could earn money from matches.
Admittedly, there are some drawbacks to earning cryptocurrency while playing games, including CS:GO. First, the commissions in the main cryptocurrency network are around $17. Considering that people are expected to make only a small BTC payment, such commission may be off-putting. And secondly, the entry threshold to the Lightning Network may also appear too high for many gamers. Even on the crypto market it is not widely used.
There appear more and more games that reward in cryptocurrency. In a bid to enter the mainstream, blockchain technology and different cryptocurrencies are evidently going to leave no stone unturned. Speaking of the recent initiative with CS:GO, if this idea really takes off, it is definitely going to change the future of gaming. There will not only be new opportunities for gamers, but also for the games that use cryptocurrency. Watch this space!