These days video games are far more than affordable distractions for children. In fact, in the United States alone, it’s estimated that nearly half of the adult population spends at least some time with a controller in their hand. Moreover, 48% of American women play video games, according to 2015 Pew Research poll. However, video games aren’t only popular in the US. In 2016, 58% of the growth in the global games market came from the Asia-Pacific region.
In other words, there are a lot of people playing video games these days; which is why the gaming industry was worth an estimated 99 billion dollars in 2016.
With that kind of capital floating around, folks in the blockchain community have already begun looking for ways to utilize the relatively new technology, in an effort to improve the gaming experience. With that in mind, let’s take a look at three blockchain-based cryptocurrencies, designed to do just that.
1 – GameCredits (GAME)
Founded in 2016, GameCredits Inc. now employs a staff of over 100 people, who are spread out over 5 countries. According to their website, “GameCredits (GAME) is a digital currency based on blockchain. Its purpose is to become the universal currency for 2.6 billion gamers worldwide, to empower game developers, both big and small, in order to further grow the 100 billion dollar gaming industry.”
Folks can use GameCredits at the company’s store, GPlay to purchase games. The currency can also be used on their crypto-centric Mobile Gaming Platform known as MobileGo.
Besides being purchased for investment purposes, some of GameCredits benefits include frictionless in-game payments, incentives to use the altcoin to purchase in-game items, and a variety of deposit options for would-be buyers.
2 – Bitcrystals (BCY)
Spells of Genesis (SOG) is a blockchain-based Fantasy trading card game which utilizes digital assets known as Bitcystals. These coins act as the premium in-game currency of SOG. Bitcrystals can also be used to play the company’s other popular card games including Moonga, a game similar to Spells of Genesis. New cards are frequently added to the games in order to spice things up a bit.
Bitcrystals stated goal is to, “build an innovative in-game economy while developing the whole game and background story, cryptocurrency will be used as an in-game means of exchange.”
3 – HunterCoin (HUC)
The open source cryptocurrency, known as HunterCoin, is unique in that 80% of the coins can only be obtained in the virtual universe within the blockchain. Within the universe, players wander through a map in an attempt to find and collect HunterCoins. Players can even participate in virtual combat if they wish to compete for the altcoin.
There will be a limit of 42 million HUC’s mined, after which miners will generate income via a transaction fee.
First Blood is another e-gaming platform we cover here.
If you already have bitcoin, and you want to spend it on some games, check out our Video Games section of our Where to Spend BTC guide. Microsoft, Green Man Gaming, Games Planet, and even a server on Minecraft currently accepts bitcoin as payment.
To learn more about cryptocurrencies, read about WTF they are!!!