Do you think cryptocurrency will ever be a currency used more frequently in gaming?

[Shortie]

At the moment, the most used currency to buy video games or even buy in game addons or items is your currency for your country so say dollars, pounds, euros and more. Cryptocurrency whilst it is still in it's infancy is becoming more and more recognized as a currency that is accepted as payment for so many things and it got me thinking.

Do you think we will ever see cryptocurrency used more frequently in gaming to buy say games, addons or in game items?

 

Edited January 1, 2023 by Shortie

[Kane99]

I hope not, with the way people are scamming the crypto market these days, I don't want it touching video games period. Same with NFTs at this point, because it's just going to result in more scamming and problems. 

Crypto is volatile, we don't know if your earnings right now, will be worth anything tomorrow. So having that in video games, would spell a disaster to me, because what if a gamer buys, lets say $20 in some crypto that a game uses. But, he waits for a new item to drop into the store, but wait, his crypto's worth has gone down by $15 and they now have $5 in crypto, while the item they originally wanted was $20. 

I just don't see it working, especially with how risky crypto is. 

I think it'd be fine to allow gamers the option to buy things with crypto, but I don't want to see a crypto introduced for a game or something. 

[m76]

Cryptocurrency is not in its infancy, it is in its death throes. And I will open a bottle of champagne when it finally dies off.

Crypto is inherently wasteful, and using it for such small transactions is completely impractical anyway. It takes days for a transaction to register and get approved on the blockchain.

And the volatility makes it useless as a common currency for people outside of speculators. Nobody in their right mind should keep their hard earned cash in cryptocurrency. So then what would be the point of converting your actual currency to crypto before buying a gaming item? 

[Tonberry]

18 minutes ago, m76 said:

Cryptocurrency is not in its infancy, it is in its death throes. And I will open a bottle of champagne when it finally dies off.

Crypto is inherently wasteful, and using it for such small transactions is completely impractical anyway. It takes days for a transaction to register and get approved on the blockchain.

And the volatility makes it useless as a common currency for people outside of speculators. Nobody in their right mind should keep their hard earned cash in cryptocurrency. So then what would be the point of converting your actual currency to crypto before buying a gaming item? 

Seconding this.

I'd sooner use dynamite as a currency.

[Empire]

I think blockchain technology and NFTs will play a role in the future of gaming but I don't think crypto games are the future. If a game is too focused on earning then the fun is taken out of it and becomes more like work.

[Kane99]

10 hours ago, Empire said:

I think blockchain technology and NFTs will play a role in the future of gaming but I don't think crypto games are the future. If a game is too focused on earning then the fun is taken out of it and becomes more like work.

I don't even want NFTs tossed in. Why can't these studios just do what Fortnite does and release digital items for cash? Do we really need NFTs? The only plus with NFTs is that when you buy something it is said that you own it, but what happens if NFTs die out? Do we then lose those NFTs? 

[m76]

8 hours ago, Kane99 said:

I don't even want NFTs tossed in. Why can't these studios just do what Fortnite does and release digital items for cash? Do we really need NFTs? The only plus with NFTs is that when you buy something it is said that you own it, but what happens if NFTs die out? Do we then lose those NFTs? 

The reason it is so appealing to them is because of the possibility of reselling items (and them taking a fee off of every subsequent change of hands) imagine making fortnite skins and not just getting a one time payment from sales, but seeing its value rise and taking 10 or 20 percent every time one changes hands.

I'm not condoning it, I just understand the reason why investors would be salivating over NFTs in games.

[Kane99]

9 hours ago, m76 said:

The reason it is so appealing to them is because of the possibility of reselling items (and them taking a fee off of every subsequent change of hands) imagine making fortnite skins and not just getting a one time payment from sales, but seeing its value rise and taking 10 or 20 percent every time one changes hands.

I'm not condoning it, I just understand the reason why investors would be salivating over NFTs in games.

Oh for sure, I get why they want to do it. There is money there if they can make it work. 

There was a service that was going to come out allowing even the consumer to buy/sell/trade digital items. If they can make it where even the consumer can profit from selling products, than I may be okay with the NFT side of it. But, the next problem is how much your items will be worth in the long run. Will they stay at the same price? Can you price them however you want? There's a lot that I'm sure will go into it, but will our items be worth the investment for the long run? That's my main thing. If it can hold its worth through the whole time, than it could work. 

[aerodynamik]

It's possible that cryptocurrency could be used more frequently in gaming in the future, but it's difficult to predict exactly how it will be adopted. Cryptocurrencies, such as Bitcoin and Ethereum, are digital assets that use decentralized networks and cryptography for secure financial transactions. They offer several potential benefits for gaming, such as low transaction fees, fast processing times, and the ability to make purchases anonymously.

However, there are also challenges to using cryptocurrency in gaming. One is the volatility of cryptocurrency prices, which can make it difficult to know how much a purchase is actually worth in terms of traditional currency. Another is the lack of widespread adoption and understanding of cryptocurrency, which can make it difficult for some users to get started.

Overall, it's possible that we will see more widespread use of cryptocurrency in gaming in the future, but it will depend on how these challenges are addressed and how the technology is adopted by both gamers and game developers.

[killamch89]

I sincerely hope not because the monetization systems would become way worse. Hell, all these gaming companies are trying to implement NFTs into videogames and most of us are totally against it.

[Kane99]

18 hours ago, killamch89 said:

I sincerely hope not because the monetization systems would become way worse. Hell, all these gaming companies are trying to implement NFTs into videogames and most of us are totally against it.

NFTs would be less of a problem than crypto, at least with NFTs you have something you can use in a game or whatever. But with crypto, the worth can drop to next to nothing, and you're left with nothing. I'm not saying NFTs should be in video games either, but I think the worst option would be crypto. 

[killamch89]

On 1/23/2023 at 3:13 PM, Kane99 said:

NFTs would be less of a problem than crypto, at least with NFTs you have something you can use in a game or whatever. But with crypto, the worth can drop to next to nothing, and you're left with nothing. I'm not saying NFTs should be in video games either, but I think the worst option would be crypto. 

I'd have to disagree - NFTs is so demonized, even the Crypto community has disowned such projects. The amount of fraud scandals involving NFTs over past 2 years has accounted for hundreds of millions of dollars lost. With NFTs, you're basically at the mercy of the provider. Once they shut down the server an NFT is on, you no longer have access to them. They're easily hackable and overall, just a terrible fad that needs to go away.

[Ravenfreak]

Honestly seeing how many NFT games have been popping up lately, it wouldn't surprise me if it's just a matter of time before cryptocurrency is widely accepted as payment for non NFT earning games. People already use Bitcoin to purchase digital goods online, buying games with crypto doesn't sound too farfetched.

[Debashis]

Yes, I believe we will definitely see cryptocurrency being used more frequently in the gaming industry for purchasing games, add-ons, and in-game items. As cryptocurrencies continue to gain mainstream adoption, their secure and decentralized nature makes them an ideal form of payment for digital goods in the gaming world. Additionally, the integration of blockchain technology can provide transparency and fairness in transactions, enhancing the overall gaming experience. This shift towards using cryptocurrencies in gaming has the potential to revolutionize the industry and empower gamers with more control over their virtual assets.

[Lamarr the strelok]

Right now crypto and nft's are a scam.I can get all the dlc add ons etc with 2 clicks of my mouse.How would crypto or nft's make this easier? All the people behind crypto talk about better gaming experiences and other nonsense that means nothing.They still don't know how to put the nonsense in games . Just marketing bullshit.