The 21st century brought us many changes that are fundamental to human society. With those changes came gaming – our favorite digital way to entertain and immerse ourselves. Just like entertainment, other areas take advantage of technology as well. For example, currencies – in 2009, a revolutionary kind of currency came out named Bitcoin. It founded a completely new, decentralized way to manage and use the money we call cryptocurrencies. Gamers and Crypto have one thing in common, and that is passion towards the digital age.
The idea is that a decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database. The blockchain basically keeps the currency alive, and you help by mining it. This is why mining was rewarded with a small amount of money.
Millennials are now economically active demographics with more interest in cryptocurrency than any other generation. In modern games, many kinds of virtual tokens are in circulation. Many of them now have a form of in-game currency that players can earn, buy and spend. These currencies are typically bought within the game with fiat cash or gift cards. In most of the cases, these games are free to play and item purchases are promoted within the game to encourage you to spend money.
Tokenizing the Game Assets
The combination of gaming and the popularity of cryptocurrencies has led to a new trend where more and more game developers are “tokenizing” game assets. Virtual in-game currencies can be tokenized by basing them on a blockchain network and attributing value and existence to them. This also allows game assets to be traded outside of the game itself.
One interesting proposition is by a company named ClanPlay. Namely, their plan is to create a new cryptocurrency named “Good Game”. GG is supposed to be earned and used within games, but unlike regular virtual game currencies, Good Game will also be traded on exchanges and held in wallets as a cryptocurrency outside of the games.
Unikoin Gold is the thing that interests us the most – the Decentralized Esports Gaming Token.
It is a decentralized ERC20 token on the Ethereum blockchain used in exchange for a virtual point-based reward system. The purpose is legal and licensed betting on esports matches, tournaments, and other gaming-related areas.
This is a great platform that could solve many problems at once. You can bet, play tournaments, back yourself up, even earn UKG every time you play your favorite games – all in crypto.
You can also trade in your unused game skins for UKG. they offer generous rates on skin trades as well as special trade offers!
Unicoin Gold Token – this is where you can have a look at what the currency has to offer for you. You can buy it on exchanges, with your credit card or you could trade skins as mentioned.
The market for these is volatile and talking about the current value would not be practical in an article. Cryptos can change their value over days, even hours. It is advised for you to always keep an eye on your crypto and act accordingly.
The market is constantly supplying what is in demand, and many gaming coins are emerging. This is good news because if there was no general use and purpose for them, the supply would not be expanding. Gamers and crypto do have a future.
Launched in 2014, GameCredits is used for online purchases of goods and game industry services. It is based on Bitcoin and is a simplified version of it. The goal is to become a universal currency for gamers around the world, providing the game developers with motive and growth of the gaming industry.
Enjin Coin (ENJ) is another cryptocurrency that aims to give communities, content creators and game publishers an easy solution for implementing virtual goods and real value into their games and communities.
Developers can integrate it into games, creating virtual goods backed by Enjin Coin. These can be anything – from custom in-game currencies, weapons, anything tradable within the game. Even in-game characters!
Crypto is here to stay, and these are some of the coins you can take a look at if you are interested in both crypto and gaming. The concept is practical enough that there is a real possibility it will become more widespread in the community of gamers and crypto. The advantages they are offering are real, and when they become more widely accepted into the gaming ecosystem, we’re gonna have some great ways to trade our digital items of value.