Video gaming and cryptocurrencies are a natural fit. They both rely on cutting-edge tech, they both have risen from obscurity to reach superstar status, and they’re both poised to be even more important and valuable in the future. While many crypto enthusiasts are also fans of video games, and vice versa, there is a tendency with both groups to undervalue the relationship these two industries share.

Cryptocurrency and video games have been important to each other in the past, and this potential will only continue to grow. To explore this path traveled is to understand what we might expect in the future, which is something all players and crypto traders should be aware of.

Hardware Paving the Way

The most profound first steps that crypto had in forming a relationship with gaming came from hardware. Mining cryptocurrency requires high-speed technology thatt gaming, and the crypto would slowly trickle in.

In the modern age, the more powerful cards offer even more performance for crypto mining. There is a tipping point here, however, since the biggest cards like the GeForce 4090 need to weigh power consumption and upfront cost against the rate of mining. This kind of difficulty has led to many GPU companies releasing dedicated mining cards, though traditional graphics cards are still powerful mining tech.

Source: Pixabay

Crypto Payments in Gaming

From the hardware space, game software then made some widely celebrated moves to sell directly with crypto like Bitcoin. Steam was the biggest name here in 2016, as the primary marketplace for gaming on PC. This lets gamers both mine for crypto, and then turn around and use that crypto to purchase titles. Though Steam dropped support in 2017 due to market volatility, it still opened the floodgates.

Today, video games are still easily accessible and purchasable through third-party key-selling websites that feature keys for Steam. This is a more indirect and roundabout method, but it still provides one of the easiest and most widespread forms of crypto markets online.

A related sector, where it’s possible to enjoy the service while using bitcoin, is the online casino market. This sector is constantly releasing fresh takes on traditional games and now many platforms are meeting their customers’ demands for variety in payment options. Bitcoin keno is a strong example of just that: this lottery-style game has a long history (helping China build the Great Wall, as legend would have it). In our digital age, its gameplay has had a makeover, adding sharp graphics and interactive features that complement the game’s simplicity. In Keno Draw, for example, users who don’t want to hassle of choosing their own numbers can select the “Quick Pick” option.

Where, previously, players would have been able to enjoy digital keno by betting real money, now those in search of innovation in every aspect of a keno game can put down crypto bets instead, including the option to deposit bitcoin. Crypto users can also expect welcome bonuses just like those that have been available at real-money online casinos for years. For instance, you might be able to claim a deposit match of up to $2,500 in your chosen crypto. That’s not to say users have to choose one or other, either: when making a deposit and such a casino, you’ll likely be able to deposit in fiat or cryptocurrency.

So, it’s fair to say that the relationship between crypto payments and this side of the interactive entertainment market is solid.

Relationship with the Blockchain

Gaming continues the indirect relationship with cryptocurrency through the implementation of other blockchain technology. This is most famously seen with NFTs, which have had many major developers and publishers implement tokens into their titles. Offering unique rewards has helped drive player interest and interest from outside spectators, showing off the security technology behind crypto and how it works in different applications.

Some of these games, like CryptoKitties, are based entirely on the NFT concept. CryptoKitties has you collecting and breeding cats, with their unique looks and attributes not just offering cute friends, but acting as NFTs which can then be traded or sold to other players.

Traditional video games have been slower to test the waters, though big developers have already signaled interest in NFT applications. Square Enix, the developer of the Final Fantasy series, has already made headway with its first NFT collectible art project. Given this company’s love of mobile gaming, we’d be surprised if they didn’t have an NFT game based on their most popular series coming soon.

Source: Pixabay

Gaming and cryptocurrency have had a long journey together, and it seems like the coupling doesn’t show any sign of slowing down. Whether through gamers using their machine to mine, gamers using their crypto to buy titles, or new games testing new blockchain technologies, there are too many uses here to ignore.

With cryptocurrency and blockchain still so young in the tech sphere, it’s impossible to predict just how far this relationship will go, and what it might eventually look like. It’s possible that companies like Steam could reverse their ruling on crypto payments, and it’s also feasible that NFT games might become the norm rather than the exception. What we do know is the number of tech heads looking to explore this relationship means there will always be new options, and as long as we stay careful and avoid mistakes, there’s a lot to look forward to in the future.