According to figures from Statista, spending on mobile apps is projected to reach $188 billion in 2020. On top of that, 74% of app store spending is made on games. Clearly, we are a species that likes playing games. While fun, traditional gaming is far from perfect and contains several gaps and concerns inherent in their design. Forward-looking developers are increasingly turning to cryptocurrency and blockchain technology to fill these gaps and improve user experience. This article will look at what Cryptocurrency games are, their benefits, and where to find them.
The Fairness and Legitimacy Question
Most games we play online and via the app store are governed by Random Number Generators (RNG) to provide fairness. But how can players be sure that they work correctly? This was a key concern with iGaming, which was largely solved through licensing and the use of independently certified RNGs. When it comes to app store games, they aren’t quite so transparent. If a game claims that you will turn up a certain reward in a loot box 33% of the time, how do you know that stat is accurate?
The Solution – Cryptocurrency Games
Cryptocurrency steps into to solve this problem of transparent legitimacy. By its very nature cryptocurrencies, and blockchain that powers them are public ledgers which everyone can verify. This means that claims such as 50% of loot boxes contain ‘xxx’ in them can be quickly and easily verified. Even those that aren’t technically savvy will be able to find feedback from players who are. People love outing scams on the internet, especially those that are easily backed up with facts and figures.
Where to Find Cryptocurrency Games
- Cryptokitties: this might sound ridiculously cutesy, and it is, but it has also proven to be highly profitable for some people. The game allows users to breed and collect virtual cats which can be traded using Ethereum protocols. Each kitty in the game is 100% unique due to blockchain immutability, and some are highly desirable. The most expensive kitties have sold in excess of $100,000!
- Privateers Life: this world mirrors the real world in that nothing in the game can appear out of nowhere. Everything must be mined, harvested, and produced using materials from the game. Users can create highly desirable in-game items that are 100% unique and can be traded for real money.
- Rocketpot: this is a Bitcoin game that allows players to place bets and potentially multiply their coins. Users can play against each other or bet on the house. Rocketpot uses a system that can be verified fair by checking the source code.
As you can see, cryptocurrency games might be new, but that doesn’t stop them from being extremely innovative. The exciting thing is that as they grow and move into the mainstream, we can expect even bigger and more creative concepts to emerge.
Many industries involving cryptocurrency are in their infancy at the moment. This provides fantastic opportunities for both players and developers to step in and make their mark. Gaming online and with apps is a huge market. With the growth of cryptocurrency games and their inherent technical advantages, this is set to grow even further. We can expect to see even bigger games flow from this sector of the market with the financial potential for users to match.