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The Intersection of Gaming and Crypto

When it comes to video games, countless titles have incorporated collecting coins into their gameplay. From classics like Super Mario Bros to Sonic the Hedgehog, finding and earning tokens has long been a way to progress in a given game. While collecting coins and playing games used to be strictly a form of virtual entertainment, a new phenomenon is reshaping video games forever, thanks in large part to the introduction of cryptocurrencies: play-to-earn (P2E) games.

From Virtual Coins to Real Earnings

Most popular games today indeed present opportunities for gamers to earn money doing what they love. Whether it’s through streaming their gameplay on platforms like Twitch, competing in competitive tournaments, or, for the lucky few, earning sponsorships, a revolution has taken place fairly recently, allowing people to monetize their passion for video games. Trading in-game items is another way for gamers to possibly make some extra money doing what they love.

And now, with the growing adoption of cryptocurrencies like Bitcoin, NFTs, and blockchain tech, game developers are innovating the gaming landscape to allow users to actually earn cryptocurrency while playing their games. Sounds pretty incredible, right?

What used to be reserved for the various crypto-gambling platforms, of which bonus.ca has reviewed many Bitcoin Casinos, is now becoming increasingly popular across gaming genres. Keep reading to find out more about how in-game economies and play-to-earn games are reshaping the gaming industry and helping to drive crypto to the mainstream.

Competitive Gaming

Several popular games like Counter-Strike: Global Offensive, Fortnite, League of Legends, and Dota 2 are known for their potential for earnings. But have you ever wondered what it takes to make money playing games? To put it bluntly, it’s not easy. Think about your group of friends. Are you the best at a given game? Maybe you dominate your inner circle playing CS: GO. But are you the best in your whole school? Or the best in your town? Chances are, probably not.

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More traditional ways of earning money playing video games, like winning a tournament, require a considerable amount of skill, dedication, and sometimes a whole lot of luck. If you think you have what it takes, consider hosting a LAN party with some friends, and if you find success there, look for regional tournaments to compete in. This will give you a good idea if competitive gaming is something you really want to pursue. There are, however, easier ways to earn money playing video games, such as content creation and streaming.

Creating Gaming Content

There’s no shortage of excellent gaming content today. Streamers have capitalized on this niche industry, and many gamers are becoming well-known influencers. Content creators who produce in-game walkthroughs where they explain how to play a game are blending education with entertainment.

According to the website TwitchTracker, there are over 244 million average concurrent viewers who watch nearly 100,000 Twitch channels. Out of all the viewers, over 30% of the Twitch audience is attracted by the top 5 games (Edler Ring – 10.9%, Grand Theft Auto V – 6.8%, League of Legends – 5.4%, Valorant – 4.3% and Dota 2 – 3%). As you can see, there’s certainly no shortage of viewers willing to watch exciting gaming content.

Indeed, the most-followed person on Twitch is Ninja, who streams Fortnite to his nearly 19 million followers. He is followed up by Auronplay, who streams Minecraft, Grand Theft Auto V, and various games to his 16.4 million followers. The female streamer with the most followers on Twitch is Pokimane, who streams Valorant and other games to her 9.3 million followers. Of course, Twitch isn’t the only streaming platform on which gamers broadcast their content; YouTube is another popular choice for gaming streamers. Streaming is, however, just one of the many ways to monetize gaming these days.

Ownership of In-Game Items

If you’re an avid gamer, chances are you’ve spent countless hours collecting rare weapons, avatars, land, or other in-game items. Now, players can trade these items, which are represented by NFTs (non-fungible tokens), on various marketplaces and earn real money. Like Bitcoin and other cryptocurrencies, these digital assets are stored on a decentralized ledger known as a blockchain. Among other things, this allows gamers to prove and for others to validate the authenticity of the items.

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The ownership of in-game items allows players to invest their time and energy into acquiring items that hold real-world value, which they can later trade or sell. And not just for a couple of bucks. Some rare items like skins and avatars fetch incredible sums of money. Dedicated gamers can potentially earn income and treat their gaming as a sort of investment through collective valuable in-game items.

From Playing for Fun to Play-to-Earn

More than ever, the lines between gaming and work are blurred. Play-to-earn games allow gamers to potentially earn money, typically crypto, as a reward for playing. Gone are the days of simply playing for fun. Now, a new era of gamers is leveraging their skills to take advantage of the incentives of P2E games.

So, what are some of the best play-to-earn games out today? Here’s a brief rundown of some of the most popular games and some titles on the up and up:

Established Games

  • Axie Infinity: This Pok√©mon-inspired game with breeding mechanics remains a major player, though the market for Axies (in-game creatures) has fluctuated.
  • Decentraland & The Sandbox: Run on the Ethereum blockchain, these open-world metaverse platforms allow players to create, own, and monetize virtual land and experiences, offering diverse earning opportunities.
  • Splinterlands: With its strong community and in-game token (DEC), this digital card game focuses on player-versus-player battles.

Emerging Titles

  • Big Time: This time-traveling RPG boasts high-quality graphics and a focus on NFT loot drops, attracting a new generation of tech-savvy, play-to-earn gamers.
  • Illuvium: This futuristic monster-catching game with stunning visuals is generating a lot of buzz because it is the world’s first Interoperable Blockchain Game (IBG) universe. Its token (ILV) is highly anticipated.
  • Revv Racing: This blockchain-based racing game leverages NFTs for car ownership and offers players the chance to compete and earn rewards through races and tournaments. Put Gran Turismo up and try this game to get a chance to earn NFTs.

The rise of cryptocurrencies has revolutionized how gamers can earn money from their passion. Play-to-earn games allow players to directly collect cryptocurrency while playing, offering a new and potentially lucrative way to engage with video games. From established titles like Axie Infinity to emerging contenders like Illuvium, the play-to-earn landscape is rapidly growing, blurring the lines between gaming and work.