Hackernoon logoVideo Games And Crypto: What's The Hype? by@IQeon

Video Games And Crypto: What's The Hype?

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@IQeonIQeon

Estonian blockchain startup, a developer of IQeon.com PvP gaming platform

The video game industry has always attracted the most cutting edge technology and innovation. Therefore, it’s not surprising that after the ICO boom in 2017, when the world community kept unanimously saying that the blockchain would change the world, the topic of the integration and use of cryptocurrencies was extremely hyped in the gaming industry.

So, it became seethed with tokens that meant to change the gaming experience. Let’s figure out why crypto investors should pay attention to the thriving gaming sphere and gaming altcoins.

How can cryptocurrency change the gaming world?

Blockchain is actively penetrating games, and decentralized apps become truly successful products. Every month up to 50 new blockchain-based applications appear on the market, and the number of users downloading dApps reaches 66 thousand per day! Let's take a look at how the presence of cryptocurrencies changes games, and also talk about the main flaws that gaming digital assets have.

  1. Tokens provide a guarantee of real property

    First of all, blockchain games allow players to establish complete control over their in-game items, namely game artifacts or characters. They can be improved, and then sold or gifted to other users. Often, each asset is represented by a unique non-fungible token of the ERC-721 standard, which allows it to be supervised. Such tokens became widespread when the famous CryptoKitties, CryptoPunks and MyCryptons entered the market.
  2. The ability to create a gaming multiverse

    By linking in-game items with ERC-20 tokens, users can exchange in-game skins, cards, weapons, and characters between different games. The main thing is that other gaming platforms operate the same blockchain. A case in point is the WAX ​​platform, which unites about 400 million online players. Gamers can create their own marketplaces to trade in-game items, sell personally designed artifacts, and even estimate the cost of loot.
  3. No intermediaries between players

    Cryptocurrency gives players the ability to carry out transactions with each other and buy or sell in-game assets directly. The absence of intermediaries allows the user to control the market, rather than the developer or the processing center, which charges large commissions for transactions. Many free games rely on in-game purchases, and cryptocurrency makes the process of acquiring assets a kind of smooth one, which helps to attract more gamers.
  4. Cryptocurrency improves the gaming experience

    Platforms that allow users to monetize their gaming achievements motivate gamers to play better, because their efforts are rewarded. And the better the player's result, the more coins he can earn. This opportunity encourages the gaming community to massively download crypto games.

Are there any disadvantages?

It is important to understand that the advantages described above is  a perfect representation of how to use cryptocurrencies in games. Today, many gaming platforms that use digital assets have a small number of users. Mostly it happens due to skepticism and distrust to cryptocurrencies, but also because a lot of crypto games are too dull to attract gamers. Players are looking for beautiful graphics and an exciting gaming experience.

A common problem is the presence of a rare token in one game that cannot be used in the other one. It turns out that the efforts and time given to the game were wasted, because such crypto assets can hardly be cashed out. Another situation is when money received after the sale of game items remain virtual since none of the exchangers works with rare coins.

There are no solutions in the crypto games market that can be used to easily and quickly monetize gaming efforts and get real money for winning matches. However, as elsewhere, there are indeed exceptions...

Real market solutions

The gaming industry is mainly focused on making the ultimate profit for developers. At the same time, the income of the multi-million audience of gamers is not growing, given how operose the gameplay is. The issue of monetizing skills is especially relevant for modern players, because who doesn’t want to earn money doing what they love? To motivate and attract new players, gaming platforms are introducing daily bonuses, offering players to complete tasks for a reward, developing VIP programs, and so on.

And everything mentioned is perfectly united by the gaming altcoin IQN, which evens the perspectives for both developers and players.

The token was designed to provide users with the opportunity to monetize their achievements by competing in games of all genres and directions. The team behind the gaming altcoin enters into partnerships with gaming platforms to integrate IQN so that players can easily and quickly turn their efforts into an asset.

The gaming PvP platform IQeon.com appeared to be the first platform allowing to conduct transactions with a digital asset. Here, users can participate in game matchups and get reward in IQN tokens for winning.

The capitalization of the token is still quite small – about $12 million with 5.5 million coins in circulation. However, the asset is already showing good growth: over the year, IQN value has skyrocketed by 250%. And this, in turn, is a direct evidence of the altcoin’s growing popularity among traders and the expansion of possibilities for its use.

IQN is expected to become a really successful solution, thanks to which players will be motivated to play again and again. It means they can earn money while enjoying what they love. However, its price movement will depend on the success of the platforms that the team chooses to integrate with. Therefore, investors should replenish their portfolio and follow token development.

Summary

Thanks to the integration of games, blockchain and virtual money, we found out a separate industry, which already brings considerable income to all its participants. While some are skeptical about Bitcoin, others allow millions of people to monetize their hobby by introducing cryptocurrency into games. One thing is clear – for the emergence of new effective projects, the crypto community needs a gaming industry, and game developers and their fans need a digital currency market for greater motivation.

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@IQeonIQeon

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Estonian blockchain startup, a developer of IQeon.com PvP gaming platform

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