Can you bring the benefits, swag, and earnings of the virtual gaming world into the real world? The concept behind cryptocurrency gaming websites could offer the potential to further monetize opportunities in games, as currencies can be exchanged between different games and converted into traditional forms of currency.
Many crypto gaming websites offer play-to-earn features, which have been among the most recent trends in the crypto space as a whole, thanks to the growing community interested in the Metaverse.
Cryptocurrency gaming websites seem to be a welcome change for many gamers around the world because they allow players to grow their crypto holdings and use their earned cryptocurrencies in other crypto, blockchain, or NFT-based games. Given the crypto community’s love of interaction and commitment to various forms of crypto—from Bitcoin to Altcoins—many still wonder whether crypto gaming websites are the real deal… The short answer is yes, cryptocurrency gaming websites are legitimate.
Altenar, a sportsbook software provider, has compiled a guide exploring whether cryptocurrency gaming websites are the real deal—giving you the chance to decide for yourself.
If you’d like to learn more about the sports betting software provider, don’t hesitate to contact its passionate professionals today.
But first, let’s take a closer look at what a cryptocurrency gaming website actually involves, so you can understand the depth of the crypto space and its role in the gaming industry.
What Are Some of the Most Popular Crypto Games?
NFT-based crypto gaming websites are among the most popular, as NFTs are typically image-based or visually represented tokens that can be exchanged for large sums of money depending on the rarity and uniqueness of the asset.
With millions of players worldwide who love to stay logged in to these games, it’s no surprise that many operators and players are looking for ways to get into the world of crypto gaming—thanks to its many options for placing bets on team-based Esports with high-value potential.
Most-Loved Crypto Games Around the World
The list of crypto gaming websites is extensive, but here are ten of the most popular globally:
- Axie Infinity
- Splinterlands
- Alien Worlds
- Decentraland
- Silks
- The Sandbox
- Illuvium
- Plant vs. Undead
- Gods Unchained
- Gala Games: Town Star
Need-to-Know Stats About Crypto Gaming Website Players
Triple A reports that millennials are the largest demographic interested in crypto gaming websites, accounting for 38%, with players between the ages of 21 and 38. Furthermore, 55% of millennials who own cryptocurrency are already gamers—which is particularly interesting, as it shows that crypto gaming websites were a natural next step for many to engage more deeply with the content they love.
According to the same report, the Asia-Pacific region leads the crypto gaming industry with an estimated 22.6 million players holding some form of cryptocurrency. Europe follows with 5.9 million players, and the Middle East and Africa (MEA) region has 5.8 million.
While these numbers are compelling, it's important to understand how crypto gaming websites actually function …
Understanding How the Cryptocurrency Gaming Website Industry Works
Crypto games offer an alternative to traditional gaming without sacrificing the entertainment value that has made the gaming industry one of the most beloved pastimes around the world.
Players can use cryptocurrencies and fiat currency to purchase in-game money, collect items, and level up their characters—all while maintaining true ownership of these in-game purchases. This is one of the biggest attractions of cryptocurrency gaming, as it gives players full control and ownership over everything they buy with their crypto assets.
Thanks to blockchain technology, which underpins every cryptocurrency and provides enhanced security, players can claim ownership of the games they love—unlike in traditional gaming where credits are accumulated without asset control.
As a result, this dynamic marketplace continues to grow, with more players looking for operators that offer something truly unique.
The potential for profit on their investments is a strong motivator for both gamers and non-gamers to explore the crypto gaming space. But like all gaming, betting, and money-driven industries, it's important to understand the risks associated with crypto gaming websites …
The Risks of Cryptocurrency Gaming Websites
Understanding the risks of cryptocurrency gaming websites can help you make more informed decisions and give you, as a player, the chance to find not only the right game, but also the right operator.
- Access barriers
- High initial investment
- Risk of currency loss
- Increased risk of fraud
- Volatility
- Some games restrict withdrawal frequency
As with cryptocurrency in general, due to its relatively new status, some crypto wallets used for storing funds may turn out to be scams or fraudulent—especially with the rise of rug-pull cryptocurrencies in recent years.
Since many cryptocurrency gaming websites aren’t held to the same standards as cryptocurrencies themselves, it’s best to choose games with a proven track record—such as proof-of-history or proof-of-work—where players haven’t reported fraud or scam-like behavior.
Is There a Future for Cryptocurrency Gaming Websites?
The short answer is yes—the cryptocurrency gaming website industry is growing, with platforms like Solana and Polygon launching their own blockchain games offering DeFi (Decentralized Finance).
According to findings from investment firm Drake Star Partners, during the first quarter of 2022, 128 crypto gaming companies secured a total of $1.2 billion in investments.
As the world of crypto gaming expands, more players are searching for operators who will let them play these games and connect with the content they love—while also owning a part of it.
Building these platforms can be a complex process, but you can learn more by contacting Altenar, a sportsbook software provider, today!
With Altenar, you’ll have access to a product that’s flexible enough to evolve and stable enough to support long-term scalability.
You can learn more about Altenar by visiting the provider's website today.
