Can you bring the benefits, swag and earnings of the virtual gaming world into the real world? The premise of cryptocurrency gaming websites could offer the potential to further monetise opportunities in games as currencies can be interchanged between different games and exchanged in traditional forms of currency.
Many crypto gaming websites offer play-to-earn instances, which has been one of the most recent trends in the crypto world as a whole, thanks to the growing community interested in the Metaverse.
Cryptocurrency gaming websites appear to be a welcome change for many gamers around the world because it allows players to enhance their crypto-base and use their earned cryptocurrencies in another crypto, blockchain or NFT-based games. Given the crypto community’s love of interaction and dedication to many forms of crypto fr om Bitcoin to Altcoins many struggle to believe that crypto gaming websites are the real deal … However, the short answer is that, yes, cryptocurrency gaming websites are the real deal.
Altenar, a sportsbook software provider, has compiled a guide on whether cryptocurrency gaming websites are the real deal and offers you the chance to decide for yourself.
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However, let’s take a closer look at what a cryptocurrency gaming website consists of, so you can understand the depth of the crypto world and its place in the gaming industry.
What Are Some Of The Most Popular Crypto Games?
NFT-based crypto gaming websites are some of the most popular, as NFTs are often image-based or image-represented tokens or coins that can be exchanged for large values of money dependent on the rarity of the image it displays.
With millions of players around the world who love to be logged in to these games, it’s no wonder that many operators and players are looking for ways to get into the world of crypto gaming because it offers ample ways to place bets on team-based Esports that hold value potential.
Most-Loved Crypto Games Around The World
The list of crypto gaming websites is endless, however, the following are the top ten in the world:
- Axie Infinity
- Splinterlands
- Alien Worlds
- Decentraland
- Silks
- The Sandbox
- Illuvium
- Plant Vs Undead
- Gods Unchained
- Gala Games: Town Stars
Need-To-Know Statistics About Crypto Gaming Website Players
Triple A reports that millennials are the largest demographic interested in crypto gaming websites, standing at 38%, wh ere players are between the ages of 21 and 38. Furthermore, 55% of millennials who owned crypto were already gamers, which is interesting, because it further proves that crypto gaming websites were the next logical steps for many gamers and players to get closer to the content they love.
According to the same report, Asia-Pacific is one of the largest sections in the crypto gaming industry with an estimated 22.6 million players holding some form of cryptocurrency. With 5.9 million players in Europe and 5.8 million in the MEA.
Though this is interesting, it’s important to know how crypto gaming websites work …
Know-How The Cryptocurrency Gaming Website Industry Works
Crypto games offer an alternative to traditional gaming without reducing the entertainment factors that have seen the gaming industry become one of the most-loved pastimes around the world.
Players can use cryptocurrencies and fiats to purchase in-game money, collect items and level up their characters, all the while being able to say that they own these purchases made in-game. This is one of the largest draw-to factors when it comes to cryptocurrency gaming because they offer players utter control and ownership over everything they purchase with their crypto assets.
Thanks to blockchain technology, which sustains every cryptocurrency and offers strengthened security measures, players can have ownership of the games they love, as opposed to building credits like in traditional gaming.
As a result, this dynamic marketplace is growing in numbers, and many players are looking for operators to offer something unique.
It appears that making profits on their investments is a driving force for gamers and non-gamers alike to enter the crypto gaming space. With all gaming, betting and money-based industries, it’s important to understand the risks associated with crypto gaming websites …
The Risks of Cryptocurrency Gaming Websites
Knowing the risks of cryptocurrency gaming websites can inform your decisions better, and offer you, as a player, the opportunity to not only find the right game for you but the right operator as well.
- Access Barriers
- High-level investment
- Risk of currency loss
- Increased risk of fraud
- Volatility
- Some games limit withdrawal frequency
As with cryptocurrency in general, given its relative newness, some wallets that are used to hold crypto can be scams or fraudulent, as there seemed to be recent booms of rug-pull cryptos.
As many cryptocurrency gaming websites aren’t held to the same standards as cryptocurrencies are, it is best to choose games that have a proof-of-history or proof-of-work behind them, where many players haven’t experienced any fraud or scam-like behaviour.
Is There A Future For Cryptocurrency Gaming Websites?
The short answer is, that the cryptocurrency gaming website industry is growing with the likes of Solana and Polygon starting their blockchain games that will offer Defi (Decentralised Finance).
According to the findings of investment firm Drake Star Partners, as of the first quarter of 2022 128 crypto gaming companies saw a total of $1.2bn in the form of investments.
As the world of crypto gaming grows, many players are looking for operators that will allow them to play these games, and get closer to the content they love, all the while being able to own part of that content as well.
Building these platforms can be a difficult task, but you can discover more about this process by contacting Altenar, a sportsbook software provider, today!
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