Videogames is a sector that has shown great growth in recent years with regard to the entertainment industry. According to data, in 2021 more than 2.7 billion people will be involved with video games, its main center of operations is in Asia and the Pacific, with around 1.2 billion gamers in 2018, which generated revenues of 71.4 billion dollars for that year, a little more than double what North America generated (second in the market after Asia). The existing perception is that video games are seen as a very popular pastime, especially among young people, however, various studies show that individuals of various ages (including older people) are video game users.
Advances towards blockchain technology
After several years and trial and error, video game platforms have found a way to exploit Distributed Ledger Technology (DLT), which is an electronic system or database, in the one that registers the information that is not executed by a single entity, this allows the storage and use of data that can be decentralized (stored in different places, distributed and connected), and therefore can be communicated publicly or privately.
Gamers and cryptocurrencies
Perhaps there is no one more interested in the adoption of cryptocurrencies and Blockchain technology than video game users, since they are mostly young people familiar with the technology and make purchases in the digital currency video game, trying to exchange and create value in their respective digital worlds. The problem arises when they try to transfer that value out of the video game.
The rehearsal continues
The online video game portal Steam is a platform with more than 95 million users, which in 2016 included Bitcoin as a means of payment, however, they eliminated it in 2017. Another example was the Twitch platform (platform popular in the video game industry) with 15 million active followers, also accepted payments in Bitcoin and Bitcoin Cash, but after a while, they removed that option.
One of the cryptocurrencies that has made the best foray into this sector is Dash, which announced the launch of a new easy-to-use payment interface, which would simplify long crypto addresses by readable usernames, which is attractive for influencers and players in general. In this way, Dash continues to gain ground and acceptance, as platforms such as Whow Games, with more than 9 million users, accept subscription services with Dash. Another platform called ReadyRaider also uses Dash. There is still a long way to go to reach a more standardized adoption of cryptocurrencies in this sector, while Dash and other blockchain platforms such as Tezos, Decred and EOS continue to race.
What do you think about this topic? Do you know of another cryptocurrency that is having great acceptance in the video game sector?
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Image by Florian Olivo via unsplash.com under creative commons license.