In the year to come, gaming will prove to be a gateway to mass adoption of crypto. The popularity of cryptocurrency has seen immense growth in 2021. It offers a number of features like secure and irreversible transactions, inflation protector high yields, and cheap global funds transfers. Making it one of the favorite financial solutions, with a global market cap of $2.25 Trillion.
The popularity of crypto has been growing rapidly, though it’s not being widely used as expected. Statistics show crypto users remain a minority with global crypto ownership rates of merely 3.9% in 2021 and around 300 million crypto users globally.
We are witnessing an evolution in the crypto industry thanks to its growth and acceptance in the gaming sector. Studies suggest the gaming industry will be a key sector to offer blockchain and crypto a chance to become a genuine use case. This can be seen from the fact that the $150 billion industry is all set to push crypto to the masses. It not only makes the games immersive but also creates an internal economy that educates people about cryptocurrencies.
Blockchain and Crypto a Real Use Case
Blockchain and Crypto are real use case candidates for the gaming industry. People have started to realize the potential of crypto gaming with the advancement of blockchain leading to the rise in play-to-earn games.
Such types of games are a game-changer as it offers income streams to players that were earlier missing in free-to-play games. The Play to earn model offers a combination of blockchain solutions such as crypto and non-fungible tokens (NFTs) to provide additional value and an excellent user experience. Crypti is widely being used in the gaming industry to reward players. While the NFTs have transformed the way we deal with in-game items. Now they are easier to access outside the gaming ecosystem for real-world monetization.
Developers are offering games with simple blockchain and crypto for new users, driving mass adoption. Many of the gaming platforms have started exhibiting the importance of crypto gaming, as the way of the future.
Platforms such as Citrus have played a key role in flourishing this gaming transformation. The platform offers a wide range of solutions to the blockchain and gaming worlds via a mix of decentralized finance (DeFi), NFTs, innovative apps, and other technologies.
Play-To-Earn and Metaverse brings Crypto to the Mainstream
Play-To-Earn and Metaverse are making it possible to bring crypto to the mainstream. It not only gets users to engage in an ecosystem but also finds value in it. Cryptocurrency is here to stay, while blockchain gaming will prove to be a reckoning force that will assist in getting this revolution started.
Cryptocurrency games are being developed to encourage user participation, leading to widespread acceptance sooner than expected. While platforms such as Citrus continue to flourish and provide a strong foundation for blockchain P2E games, soon we may see some of the world’s greatest economies participate in crypto gaming. Gaming appeals to the younger generation the most especially in the Asia Pacific region which can turn out to be the largest gaming market.
Additionally, NFTs and Metaverse will also play their role in the success of Crypto. We can expect to see an entirely new gaming world with easy access to cryptocurrency, making its widespread acceptance among the masses possible.