Crypto and gaming work together perfectly
Cryptocurrency has made its way into many different areas of our lives, but one of the sectors it's most prevalent in is the online gaming sector. This makes total sense as, being an online and decentralized form of currency, crypto lends itself perfectly to games in the online sphere. If you're interested in getting involved with crypto gaming but aren't sure what games are out there that you'd enjoy, or even how to get into it, then we've got a simple guide to get you started.
Play-to-Earn Gaming
The most common type of crypto game is the play-to-earn game. These titles require you to invest in their game initially, asking for generally an NFT or two to get you started. Then with those NFTs you can complete certain tasks and achievements to earn more cryptocurrency, to trade, buy more NFTs, or build your burgeoning gaming empire. A handful of famous examples of these sorts of games are CryptoKitties, Axie Infinity, and Ethermon. In each of these games the NFTs that you collect take the form of 'animals' that you can breed, train, or accessorize in order to make them worth more crypto. Once you've collected an NFT that's sought after enough you can exchange it on an internal marketplace, or an outside platform.
What is an NFT?
NFTs are digital assets
In order to completely understand how crypto games work, it's important to understand NFTs. NFT stands for non-fungible token. This can be seen as a digital asset, that can't be multiplied, broken down, or tampered with. There will always be a digital footprint of exactly who owns that token which is kept on a blockchain. This is part of what makes NFTs so special. Whilst in most conventional games you can buy upgrades, or whole new characters, these don't have any intrinsic value because any number of them exist. The only value is the fun that you can have with them. NFTs have value because some of them are rare or sought after as there's only one of them in existence.
Crypto Casinos
Another type of crypto game that doesn't involve NFTs is the crypto casino. These work just the same as online casinos, except instead of wagering in fiat currencies, you make your bets in crypto. If you're already familiar with Texas Hold'em rules then you've got a head start on plenty of people who play at crypto casinos. Knowing the strategy and process of the games is more than half the battle when it comes to this type of crypto game. All you need to remember is to sign up to a casino that accepts the type of cryptocurrency that you hold, which brings us to the final point.
Choosing a Wallet
If you want to get involved with crypto gaming then it's important to choose a wallet that is accepted by your game of choice. As we've talked about with casinos, some will accept different currencies, but most will accept either Ethereum or Bitcoin. Play-to-earn games are similar, but because they actually utilize the blockchain from different cryptocurrencies, it's even more important that you choose a compatible wallet. Signing up to a game that works on the Bitcoin blockchain when you only have Dogecoin could be a big hurdle to overcome!
