Blockchain and Cryptocurrency Bonuses in Gaming

It is not news that blockchain technology is reshaping online gaming in several ways. Over the past few years, we have witnessed technology transform players’ experience so much, thus gaining more ground in the gaming industry. Speaking of gaining ground, some of the most transformed aspects of modern gaming by blockchain processes are payments and bonus offers.

On that note, we’re going to highlight the place of crypto bonuses and other blockchain processes in gaming in this article. By the end, we must have analyzed the synergy between blockchain and modern gaming. Let’s find out.

A Brief Overview of Blockchain’s Involvement in Gaming

For those of us who are relatively new to blockchain and crypto gaming, it is essentially the involvement of blockchain-enhanced processes in regular gaming endeavours. These processes include but are not limited to payments, rewards, and bonus offers.

In essence, consider your regular gaming experiences being made easier and more exciting by new functions and processes. That is precisely how blockchain is relevant in today’s gaming scene. And if you have been around web3 and casino gaming, you must have been exposed to several blockchain benefits and processes.

Blockchain’s Processes in Gaming

As we’ve stated a few times so far, Blockchain technology has mainly influenced certain factors that are pertinent to modern gaming. And as we’ve promised, we will highlight these factors one after the other.

Crypto Rewards

A lot of gaming companies and developers include some type of reward system for their products. However, not too many of these rewards carry real-life value, as in the case of many game consoles. A good example is in-game currencies such as V-bucks in Fortnite, amongst others, which are not eligible for direct exchange. Here, crypto rewards become a game changer.

Most blockchain gaming systems have an inbuilt crypto and tokens reward system. This is where players get to earn little crypto rewards that are fungible with real money. These rewards may come from gameplay achievements like winning tournaments, completing quests, and a lot more.

Also, aside from crypto, there are reward tokens like NFTs, which have become increasingly popular in the gaming space. These tokens, although non-fungible, can be sold in specified marketplaces for profits in Fiat currency. And with the growing base of games adopting NFTs as reward tokens, exchanging is becoming easier by the day. Here are some prime examples of modern games that offer NFTs as a major part of their reward schemes:

Crypto Bonuses

Crypto bonuses are a little different from game prizes or rewards. They usually come with the game’s design or as part of a play-to-earn model. Typically, crypto bonuses are meant to add flavour and increase your chances of winning games. And coming to crypto games, players are mostly offered bonuses in cryptocurrency as part of an incentive or for reaching a milestone.

A typical example is casino gaming, where users can deposit money, receive bonuses, and withdraw winnings all in crypto. This level of crypto usability is made possible by crypto casinos, who go all in on blockchain-style gambling.

Bonuses here either come as part of a deposit reward or a no-deposit incentive. As such, crypto casino users often get offers like a 100% match on deposit amount or a $300 no deposit bonus equivalent in crypto. In all, casino gambling is one of the most widespread gaming styles to fully adopt cryptocurrency as an in-game currency, a reward model, and bonus offers.

Downsides to All-Crypto Bonuses

As amazing as having all-crypto offers in online game bonuses, there are still some slight downsides that follow, especially for inexperienced users. First, the seeming complexity of accessing and making use of crypto offers during the gaming process, which involves setting up user accounts and crypto wallets. As a result, newbies may find it a little tricky at first to follow and make the most of available bonus packages.

Also, due to the widespread status of crypto gaming, players have to compete excessively to benefit from the least bonus and reward offers. This level of competition is not particularly favourable for newcomers to crypto gaming.

Crypto Payments

Crypto payment processes are pretty relevant to web3 games, as well as casino gambling. That is because a lot of developers and online casinos are opting for crypto as in-game currencies to facilitate earning, spending, and trading of game rewards. As such, players not only get to play and gamble with crypto tokens but also trade them for Fiat on decentralized exchanges.

Also, since blockchain is a decentralized and distributed digital ledger, its payment procedures are virtually flawless. In other words, there are barely any cases of transaction irregularities when you’re in crypto gaming. Transactions are as transparent as they come, with a standard level of safety. In addition, crypto transactions are known for their relatively low service fees. The following are some of the most used crypto tokens in gaming:

• Ethereum
• Theta
• Litecoin
• Chiliz

The Future of Blockchain and Crypto Gaming

It should be pretty clear by now that blockchain and crypto rewards in gaming are changing a lot in the gaming industry. However, the big question never fails to arise, “is it sustainable? The big answer is also yes. Amidst other milestones, blockchain gaming witnessed a 2000% increase in 2022, against 2021. A figure that is evidence of the constant innovative efforts of blockchain and what it holds for the future.

Summary

To conclude, we can say that crypto rewards and bonuses, as well as Blockchain processes, have been an incredible addition to today’s gaming scene. Not only do they offer something new, but they also give every gamer the chance to get rewarded in digital currency. Also, since the network is entirely decentralized, the influence of Blockchain in gaming is said to be a game changer for monetary transactions.

So now you know how crypto is connected with gaming. Keep gaming everyone 😉