Research on Bitcoin and gaming

Virtual games are gaining recognition as the most engaging options available to enthusiasts. People choose games to keep their minds occupied, often to contend with someone from an entirely different location. Internet-based virtual gaming has indeed made this feasible by bridging geographical distances.

The integration of Bitcoin by game developers is accelerating the rise of virtual gaming. Tools, weapons, and avatars are purchased with money. This is currently achieved when a player has some form of fiat currency. Is it an essential purchase? It depends on how one perceives it. For players, yes. For others, they do not care to be honest. Bitcoin has simplified the payment process by uniting everyone under one roof and eliminating the need to worry about currency exchange rates.

Bitcoin And Gaming: Current Landscape

The integration of Bitcoin into virtual gaming has increased the participation of participants from around the globe. They only need to link their accounts to begin accessing the game’s segments.

The gaming industry has expanded its horizons by venturing into the department of generating revenue for the market. Per predictions laid out by experts, the gaming industry alone could generate $260 billion by 2025. The estimated revenue is an approximate figure, with the actual number coming out only in 2025.

Bitcoin can be integrated into a gaming platform by listing it as a payment method. As simple as that sounds, one can be assured that game developers are working on it rigorously. Once integrated, it will come in handy for different sections, including Bitcoin sports betting and other virtual gaming categories. Advantages that one can expect from Bitcoin gaming are:

• Seamless transactions
• Lower costs – no intermediary involved
• Anonymity, as there will be no need to share all the details with the platform
• Access to specialized bonuses like the welcome bonus

Benefits of Bitcoin Integration In Games

There are many virtual games embracing Bitcoin. The goal is to go hand in hand with the current times, enhancing the experience of a user who may be engaged in single-player or multiplayer game modes.

A few games that have embraced BTC are:

• Wargaming – Wargaming has partnered with Bitpay to enable its players to purchase in-game virtual gold by utilizing their BTC holdings. Games like World of Warplanes and World of Warships are the ones that have come forward in development. 
• Night Becomes Butterflies – The item-collecting game is a typical video game that is planning to attempt BTC integration. Its creator has been a supporter of BTC since 2013, which is nearly a decade. Hence, making way for the integration. 
• Spells of Genesis – Created by EverdreamSoft SA, Spells of Genesis is a blockchain-based tradable card game that has its own in-game currency called BitCrystals.

The benefits that players get are:

• Better security measures coupled with the prevention of fraudulent activities
• Higher ownership for players and a better valuation of their in-game assets
• Implications that are relevant to the real-world economy

Exploring the Metaverse: Gaming In A Virtual Universe

The metaverse is, in simple terms, a virtual world filled with the elements that one sees in the real world. Metaverse is taking baby steps toward accelerating the growth of the gaming industry, even going to the lengths of integrating the gaming segment into it for rewards and incentives.

Per reports, the global metaverse gaming sphere is estimated to be valued at $51 billion by the end of this year, which is 2023. The growth could be somewhere around a 38.2% CAGR. The global market for metaverse gaming may touch $1.3 trillion in the said time window.

Conclusion

With these numbers and trends in mind, it is undeniable that the intersection of Bitcoin and gaming has a long way to go. They are at a crossroads; however, they stand together with all the intentions of moving in the same direction.