Social and Market Trends for Crypto Games in 2021
There are about 2.6 billion gamers across the globe. They’re tech-savvy people who’re constantly looking for new ways to have fun. With that said, it doesn’t come as a surprise that many of them have hopped the crypto train. However, they did it in a less conventional way – through crypto games. But what exactly is crypto gaming? And what new trends can expect in the sector in 2021? Read on to find out.
What is crypto gaming?
The concept of cryptocurrency is relatively new to many people out there. Crypto games are an even newer addition to the gaming world. That’s why we have to start by explaining what these things are all about and how they work. You probably guessed it right – the main feature of these games is the use of cryptocurrencies. Instead of trading digital money, players buy and sell all sorts of in-game items. The first popular crypto game ever was CryptoKitties. As the name suggests, the game involves grooming and breeding cats and then selling them for cryptocurrencies. It may sound like there’s not much money involved but you’ll soon think differently. The most expensive car in the game was sold for $117,000. Many new crypto games emerged after CryptoKitties. So, whether you want to collect heroes or fish, there’s a crypto game for it.
More people will start talking about crypto games
As mentioned above, crypto games are still in their infancy. Digital currencies just haven’t been around for too long and these games haven’t got a chance to show their true potential. However, things are changing and 2021 might be the year crypto games explode. One of the reasons for this is the worldwide COVID-19 pandemic. Due to social distancing rules, more people are staying at home. This means they’re exploring new ways to have fun and many of them have decided to give crypto games a run. No matter what you’re into, there’s a way to collect it and trade with it using digital currencies. If this isn’t a reason enough, there’s more. Felix Kjellberg a.k.a. PewDiePie is a huge supporter of blockchain in gaming. He has over 107 million followers alone, so when he speaks, gamers tend to listen. This year, we’ll see more people support crypto games this way and the number of players will increase even more.
Digital pets will dominate the sector
We already talked about the first crypto game – CryptoKitties. Well, it looks like there’s a sustained enthusiasm for digital pets in the world of crypto gamers. Many new games in the genre that followed went on and based their gameplay on digital pets. For example, just take a look at another highly popular crypto game – Axie Infinity. Instead of cats, the game uses all sorts of creatures that make collecting extremely fun. Besides being able to breed these creatures, players can also go to battle. Some call it a Pokemon-style crypto game. Axie Infinity is still in its early days but it has already made a lot of noise in the gaming world. It has already generated about 6,4000 Ether in revenue. This number is equivalent to over $2 million. While there are games that allow you to collect heroes, spaceships, and real estate, digital creatures will continue to play an enormous role in crypto games.
iGaming will continue to impress
iGaming providers were among the first companies to put together crypto and gaming. They allowed their customers to pay in digital currencies when playing in their digital casinos. This has made the entire process of transferring funds quicker and easier. Playing online has generally become more convenient than visiting brick-and-mortar casinos. Add to that the effects of the pandemic and it’s clear that iGaming is performing great. By 2025, the industry is expected to reach 300 billion in value. This year, even more people will ditch traditional casinos and replace them with online ones. Not only this but many of them will use cryptocurrencies for the first time. 2021 will be huge when it comes to the use of Bitcoin in gambling, judging on how both the currency and the sector have been doing lately.
Bigger companies will join the trend
There are only a few names in crypto gaming. Most companies in the industry are small indie blockchain businesses that wanted to merge games and crypto. For the past few years, these companies have come up with numerous games, many of which have performed quite well. This didn’t go unnoticed and it’s safe to expect more names to enter the industry in the future. There’s a lot of room in crypto gaming for these companies to operate in. This will result in crypto games gaining even more attention. Moreover, some of these companies have been in the gaming industry for a while, meaning that they’ll bring money, talent, and influence to the sector. With all that going on, it’s obvious that crypto gaming will continue to grow at a rapid pace.
It’s still too early to talk about crypto games being as popular as traditional video games. However, they continue to grow rapidly and this will be the year we’ll get to hear way more about them. In addition, some new trends will emerge in the sector and set new standards in the industry. There’s no doubt the crypto gaming world will be worth watching over the coming months.