Cryptocurrency in the Gaming Segment: Companies Accepting Cryptocurrency Payments

Nowadays, cryptocurrencies are literally everywhere, and this fact is difficult to dispute. The gaming segment is not an exception in that case, so cryptocurrency is gradually becoming as much an equivalent component as the introduction of new gaming platforms or new online services. In this article we consider the crypto gaming industry as an innovative way for digital development and figure out the topic about the wide acceptance of crypto in gaming industry and what big companies accepting crypto are active in this sphere now.

How Can Crypto Be Used in the Gaming Industry?

Many people who are far from the topic of video games probably don’t realize that cryptocurrency in gaming industry is starting to be used quite often. For what purposes do companies accept cryptocurrency in gaming production and how does it work? Here are a couple of the most widespread ways of using crypto in gaming production. Let’s see!

• Payment method

Cryptocurrency in the gaming segment is most often integrated as a payment method. Users can buy or sell games using cryptocurrency, as well as make internal purchases in the games themselves or on platforms. Additionally, it’s a convenient way to conduct various microtransactions since the blockchain network is ideal for small transactions, allowing them to be carried out quickly and with an acceptable commission, depending on the cryptocurrency you use.

• Rewarding system

Attracting new users to the game with the help of a reward system is a perfect choice for beginner game studios that don't have a steady stream of users yet. Blockchain games allow them to reward participants with tokens that can be used in the game or even exchanged for real money.

How Is Cryptocurrency Integration Reshaping the Gaming Industry?

This time crypto for gaming industry means much more than before, and there are more companies who accept cryptocurrency as a relevant payment method. Nevertheless, not many people think about how much cryptocurrency has influenced the development of the gaming industry. In addition to facilitating payments, the blockchain technology in gaming sector has also introduced several innovative features that are used by millions of gamers.

• Unique Gaming Ecosystems

Blockchain contributes to the creation of unique gaming ecosystems where gaming assets can interact between different games. This empowers players and creates a richer gaming experience.

• GameFi

GameFi is the particular blockchain technology that makes it possible for users to monetize their gaming time spending. Characters, land, objects, clothing, and much more become the players' property, along with all associated rights. The GameFi industry is gaining massive popularity due to the dynamic development of the segment of decentralized platforms, cryptocurrency and gaming.

• Opportunity for Community Participation in Gaming Production

Decentralized games (GameFi) allow community members to make decisions on game development, vote for innovations and even influence economic aspects. Additionally, blockchain networks help to monitor the transparency of results in esports and competitive games, so it makes it possible to see the prize pool and the conditions for distributing winnings.

How Do Gaming Companies Utilize Cryptocurrency Payments?

As cryptocurrency began to gain popularity, more companies accepting cryptocurrency as payment methods appeared. But in addition to the usual process of making purchases on services or platforms using crypto that we are so used to, many companies that accept cryptocurrency as payment have begun to introduce an in-game currency that can be purchased for real money. This option can be used to buy items or upgrades in the game. With the help of cryptocurrency, these transactions can be made quickly and securely without the need to involve a third-party payment processor.

Buying games and various add-ons to them using any companies accepting crypto is indeed a reality now. Nevertheless, many people and, even crypto-oriented users, don’t buy video games through cryptocurrency because they are afraid of scams or difficulties that they may face. Still, it’s not a big deal at all.

On Cryptomus blog you may find a wide range of comprehensive guides and informative articles that definitely facilitate your cryptocurrency purchasing and managing experience.

Major Companies Accepting Cryptocurrency in the Gaming Realm

As we’ve already mentioned, there is a group of major companies accepting cryptocurrency payments for the gaming segment. Let’s take a closer look at several of them!

• Krafton

It’s a Korean company specializing primarily in the development of gaming software and services. Additionally, the company manufactures web, mobile devices and consoles. You may know it from the online game “PUBG: Battleground”, where you can pay with crypto for different additional features and upgrading the character.

• Roblox Corporation

Roblox Corporation is an American company that creates and maintains an online entertainment platform. You've probably all heard about the popular Roblox game, so it’s their doing. There is also the opportunity to use crypto if you want to buy the games themselves or some in-game objectives.

• Epic Games

An American corporation founded in 1991 and which is a leading gaming developer in the sphere. It’s one of the companies accepting crypto payments, especially for its several well-known games, including Fortnite, Gears of War and the Infinity Blade series which users may find on different platforms.

Thus, it was just some of the companies that accept crypto as payment. Now, you've got acquainted with the opportunity to buy the games and downloadable content (DLC) for cryptocurrency. But how to make such a deal safely and quickly? Click here to know how to buy games you want using Bitcoin without any complications.

Predictions and Risks for Cryptocurrency Adoption in Gaming

The integration of blockchain and cryptocurrencies into the gaming industry opens the door to new and exciting opportunities. From changing the economics of in-game assets to creating decentralized worlds, these technologies are changing the rules of the game, making them more transparent, fairer and fun for players. The number of companies that accept cryptocurrency is rising which means a rapid increase in the popularity of cryptocurrency in general.

However, don’t underestimate the nuances of digital currencies, for example, volatility and specific knowledge for better use. Frequent price jumps can affect the value of in-game assets, which creates risks for both players and developers.

As for the experience level of users, it needs to be mentioned that the cryptocurrency sphere has always required a particular approach to its study since not everyone will be able to understand all the specifics, functions and details of the operation of blockchain networks. Thus, for the successful integration of blockchain and cryptocurrencies into the gaming industry, it’s crucial to provide training and understanding of the technology not only among users but game developers, too.

What is the connection between cryptocurrency and gaming and how rapidly is the cryptocurrency gaming industry developing? We hope the article helps you to figure out these questions. Play games and use cryptocurrency with all its potential together with Cryptomus!