The concept of digital currency has been in the gaming sector for a while now. If you are used to playing games online or on a mobile phone then you will be familiar with the game coins or special XP points. Whenever you reach a milestone these XP points gets credited, which can be used to buy upgrades. In order to accumulate enough points, you will have to put in a lot of gaming hours. Alternatively, one can buy these achievement points in the form of in-app (or in-game) purchases. In order to make these purchases, one has to pay with fiat currency.
There are many online gambling platforms where people have been wagering with fiat currency. This might be more relevant to destinations outside of the US and there are those who play with the “cryptocurrency” bitcoin – this is for both standard gaming and online gambling.
Let’s take a closer look at bitcoin developments in both the online gaming and gambling industries:
Recent Bitcoin developments in the online gaming landscape
The next steps and actions that may be anticipated in the gaming space vary between allowing for “in game payments”, “competing for bitcoin” and “bitcoin rewards”, the “purchase of games with bitcoin”