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The relationship between Gaming and Cryptos

The relationship between Gaming and Cryptos

The gaming world has become a huge place where players consume their favourite titles and content from their best-loved content creators.

Since the emergence of cryptocurrencies within the mainstream media, the gaming industry as a whole has welcomed the use of crypto tokens. Large organisations have begun to take cryptocurrencies as a payment method for products and services. Crypto exchanges like Binance have also released their own bank cards for EEA Residents in select countries. And gamers can now use cryptocurrencies to pay for transactions through a number of retailers.

But how have traditional gaming and cryptocurrency become a force to be reckoned with?

How is Crypto used in Gaming?

Players are able to use cryptocurrencies in different stores and platforms to buy games, consoles and gift cards. Whilst also being able to be spent on betting and esports events in online bookmakers.

Spending your Crypto on Games & Hardware

You will have more options on where you can spend your crypto on digital goods or online stores for things like games, consoles and accessories.

Some stores that accept online crypto payments are:

  • Amazon
  • Microsoft
  • Zynga
  • Rakuten
  • PayPal
  • CDKeys

For online payments, you are also able to use E-Wallets with cryptocurrencies. The first one to integrate cryptocurrency technologies onto its platform was Cashapp in 2018.

BitPay is another popular crypto payment option. Turn cash into crypto and also use funds from your Coinbase account. Another popular option is Purse.io, which allows payments on Amazon.

Some games actually accept cryptocurrencies for in-game purchases on things like DLC and memberships.

iGaming is a keen pusher of crypto on platforms and games. Whether it is for a mobile game, betting or casino games, enjoy payments via the blockchain.

Spending Crypto on Esports Betting

Nowadays, you can do more than just watch your favourite esports events on social media and TV. You can also bet on them through numerous sports betting websites that have begun to offer odds and bets related to esports events.

One of the most modern and popular ways to bet on esports is through betting with crypto. This method allows you to use cryptocurrencies as a payment method for placing your bets, instead of relying solely on traditional payment options.

With the popularity of esports betting and the size of the industry, we have seen bookies specifically for esports events open. They have also integrated cryptocurrencies onto their platforms such as Thunderpick, B.C Game and MyStake.

Anyway, even if you don’t have any cryptocurrency, these websites still offer traditional payment methods for your convenience.

Spending Crypto on Content Creators

Crypto is also distributed by gaming fans to content creators. Video game streaming is highly popular within the streaming community.

Twitch is one of the most popular streaming platforms that attracts millions of monthly viewers. Streamers on Twitch can donate through crypto to streamers or during the live streaming of esports events.

Our Conclusion

To conclude, the gaming industry is moving in the correct direction as a mass adopter of cryptocurrencies. There are multiple ways that crypto is included in gaming with each of them looking to expand in the future.

Gamers enjoy new technologies with more education being made available on cryptocurrency and web3 as a whole. All it takes is just one good game for the snowball effect to catalyze web3 adoption, says Aly Madhavji, Managing Partner at Blockchain Founders Fund.

With Microsoft leading the way, it is only a matter of time before we see other large gaming organisations like Sony and Nintendo integrate blockchain payments for their products and services.

What do you think?

Written by Joshua White

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