When people talk about cryptocurrencies, many will instantly think of Bitcoin, or BTC. That’s not unreasonable — after all, BTC’s value has spiked tremendously over the years.
However, Ethereum, or ETH, is easily the second-most popular cryptocoin on the planet right now. Like BTC, it is decentralized money that’s helping to make online transactions more efficient, more secure, and more private.
Interestingly, there are plenty of great use cases for ETH in gaming — from online casino tables to mobile apps. But why is it so popular with gamers and developers alike?
Below, we’ll take a look at some of the key reasons why Ethereum is continuing to raise eyebrows across games development, and why it could pave the way for the future of gaming, period.
It’s extremely flexible
Ethereum is designed to be incredibly flexible. As a cryptocurrency, it’s completely decentralized, meaning there are no ties to third-party processors and there’s very little red tape involved in transactions, if any.
That means games developers have immense flexibility when it comes to tailoring in-game rewards to players. For example, they can scale up instant rewards to players and create their own remuneration system. If a player completes an achievement, for example, a game’s developer can decide exactly how much ETH they receive.
It’s also getting easier and easier for game developers to produce titles around blockchain transactions, and actually tie different games and rewards together. With ETH rewards, developers can allow players to gain credit or prizes in one game and use them in another.
Games developers can also create their own tokenization system, meaning that players can use ETH variations to purchase in-game perks and upgrades whenever they want.
It’s highly secure
Blockchain transactions are private and secure by design. There are no middle parties involved in processing, which means that there’s never any doubt where money has come from, and where it is going.
That means, should a player unlock an in-game reward at any time, but there’s an error in receiving it, there will be an immutable record that shows when a transaction was processed.
Smart contracts on blockchain allow games developers to verify reward unlocks faster than ever — and players have already proved themselves worthy of what they earn. It’s a win-win situation for all parties involved.
In fact, it’s one of the main reasons why Ethereum casinos for US players exist (such as those listed at TrustNPlay through the link provided) — blockchain transactions help players track what they’re spending, and can ensure that their bankroll activities remain private.
Players are rewarded quickly
One of the biggest concerns for gamers playing via mobile and for achievements and rewards is that they simply don’t get rewarded fast enough!
One of the most significant benefits of running transactions through blockchain is that transactions are much faster than traditional transfers. There are no processing times thanks to third-party operators, and players can claim what they’re due within seconds.
That’s also a massive benefit for games developers and marketers. With many mobile and console app developers still operating on fiat or traditional financial transactions, those that accept crypto are automatically more efficient and therefore more appealing.
We live and play in a world where we are accustomed to instant gratification. That means impatient players don’t have to worry about hanging on for rewards longer than a few moments.
That’s also going to mean games developers can process more transactions more efficiently, meaning they could expect revenue to increase over time. Everyone wins!
There are real-world rewards
Finally, with an ETH-based rewards system, there’s nothing preventing games developers from granting players real financial rewards when achieving certain targets.
By offering ETH rewards, players can cash out to their own crypto wallets and use the currency on whatever they wish. They could access in-game rewards, buy real-world products, or even save the money or make investments.
This kind of flexibility is highly appealing to players, and what’s more, it helps games studios stay competitive.
There are, of course, some rules and regulations regarding what can and can’t be offered as rewards – but we are quickly approaching a point where ETH rewards could become commonplace across games on various platforms.
However, cryptocurrencies are still yet to be fully embraced in the mainstream. Therefore, it’ll remain to be seen just how many games developers adopt crypto rewards in the years to come.
One thing’s for sure — cryptocurrencies are gaining momentum despite their volatility, and that could mean a more exciting gaming landscape for the years ahead.
