Online gaming has seen many changes, from the original and simple early Nintendo games of a more basic Mario Kart gaming experience to a fully-fledged NBA 2K with player-lookalike avatars, high-quality graphics, and surround sound. It cannot be denied that the online gaming world has certainly undergone many technology-based changes. This is especially true when it comes to one of the economic upgrades, namely cryptocurrency.

This digital form of payment has sent shockwaves through the entire digital gaming industry, from online gambling or playing a virtual round of poker to EA Sports FIFA and buying cryptocurrency gift cards to use in the game. This article aims to showcase many different ways in which the emergence of cryptocurrencies has had an impact on the online gaming world.

Safer Playing Sessions

When it comes to playing a game online, the number one thought or concern is being able to play securely. As many games need to be bought in order to be played and need to be reloaded consistently with tokens, the players' financial safety is at the forefront of cryptocurrency innovation.

Say you are playing one of the best platforms on https://www.newsbtc.com/news/company/top-10-crypto-gambling-sites-ranked-2023, where you can partake in many crypto-supported online sites. Wouldn't you want to ensure that your transactions are being correctly monitored and aren't being misused? Of course, you would, which is why cryptocurrencies are embedded with blockchain technology.

The software in blockchain technology is paramount to the rise of cryptocurrency success within the online gaming world. The main reason for this is the financial safety players experience with the protection of blockchain technology. Whether you are playing an online gambling poker session or trying to purchase new sneakers in 2K, making payments needs to be secure. Blockchain technology facilitates this, as sensitive data is stored in impenetrable little blocks and then connected via cryptography. Furthermore, all the data is stored on a public ledger, and no changes can be made. It is also heavily password protected and can only be accessed by a limited amount of authorized personnel with the correct password. Making it one of the main reasons online punters and players are so excited to use cryptocurrencies now.

Faster Experience

Due to cryptocurrencies' decentralized and digital nature, transactions made with crypto often go much faster than with traditional banking methods. Gone are the days of needing to enter a debit or credit card number manually. Now, players can easily make financial movements with the click of a button. Cryptocurrency movements typically take between a few minutes and a few hours, whereas traditional banking movements can often take days, especially if you are trying to make an international payment to a game whose head office is countries away from where you are playing.

Not to mention the ease at which you can pay, there are technologies, such as hardware wallets, that allow players to safely store their cryptocurrency on an external hard drive or USB, making it impossible for hackers to get their hands on it. This not only adds an additional layer of security, it also allows players to quickly and easily prompt transactions at the insert of a USB and a quick click of a button.

Increased Participation

Using cryptocurrencies also makes for a much more immersive play. With the addition of AI (artificial intelligence) and VR (virtual reality), which allows players to feel a more authentic experience, tokens and rewards with the games are now actually worth a real digital currency.

Usually, players would run through courses, earning gems and star rewards as they went. This would fill up their virtual treasure box and could be used to buy things in the game, but that's where that road ended. Cryptocurrencies have changed that drastically, as a lot of games are now making those gems and stars have real cryptocurrency value, making for a much more thrilling time for players. Not to mention, if you are playing a casino game like poker or blackjack, it does feel a lot more authentic if you get to win cryptocurrencies.

Considerations to Keep an Eye On

Whilst it is clear to see that cryptocurrencies are truly on the steady rise and gaining popularity and for good reason, it cannot be denied that there are a few drawbacks that cannot be ignored. Having games that operate on cryptocurrencies runs the risk of creating an entire digital economy, which could one day become competition for the regular economy of fiat currencies that run the world as people know it.

People need to keep an eye on the prospect of digital currencies becoming more popular than fiat ones. Cryptocurrencies are decentralized in their nature, meaning that no single authority of government has any power over them, meaning that the currency can essentially run free with no one to hold liable should something happen. Furthermore, not everyone has access to cryptocurrencies, so it might mirror the existing unfair advantages that certain groups of people have over others in terms of access.

These are not negatives but more considerations that people should keep in the back of their minds when engaging and supporting cryptocurrencies so that more informed decisions can be made.