Considering that Bitcoin has been integrating itself into almost every industry recently, it’s hardly surprising to see that it’s had a large impact on online and PC gaming. In fact, the gaming industry is considered to be the second most effected industry after financial services, but has Bitcoin’s impact been a positive or negative one? Bitcoin has led to the creation of the highly praised bit coin casino online, but it has also led to over-excessive mining which is affecting GPU prices. Here, we’re looking at each in more detail.
Blockchain’s Involvement In Player Experience
With a Bitcoin comes a blockchain, acting as the backbone for the cryptocurrency. With blockchain technology, companies are able to develop new, innovative platforms in order to streamline and revolutionise every aspect of gaming. One of the biggest impacts that blockchain has had on online and PC gaming is the introduction of several digital gaming tokens, leading to increased security and the development of gamer communities. Furthermore, blockchain is able to empower game developers, allowing them to add better features to their games and improve the overall experience for the players.
Games Are Being Funded By Cryptocurrencies
Cryptocurrencies such as Bitcoin aren’t only helping to better develop games, but they’re actually helping to create them from scratch too. Gaming startups are able to fund game development with the use of Bitcoin, with ICO’s (Initial Coin Offerings) helping to fund a vast range of different games, including the highly popular Reality Cash. These funds are usually sourced by selling the virtual currency before the game is set to launch, and then offering exclusive in-game items that can be traded on the blockchain. Either way, Bitcoin is helping many highly-anticipated games to feature in the gaming market.
Revolutionising In-Game Purchases
Purchasing items with a credit or debit card means that your personal and bank details are available for all hackers to see should they manage to hack into the database, which proved as disastrous for Sony many years ago. As a result, in-game payments can be risky to delve into with fiat currencies, however with Bitcoin now integrated into online and PC gaming, they are no longer needed. Microsoft have already allowed gamers to purchase games and items from their online store via Bitcoin payment, as has the eSports industry. With a digital currency such as Bitcoin, in-game purchases can be made without the need to input confidential information, protecting your details in the event of a data breach.
The Negative Impact Of Bitcoin Mining
Putting the above positives aside, Bitcoin mining is proving as very problematic for avid, frequent gamers. Naturally, in order to have the most immerse experience when gaming, you’ll want to ensure the graphics are second to none, however Bitcoin mining is having a negative impact on this. This is because Bitcoin miners are purchasing high end GPUs (Graphic Processing Units) in bulk, meaning that there is a shortage in the supply, ending in steeper prices for gamers. So much so in fact, that the prices are almost at an 80% markup. As a result, online and PC gamers are having a difficult time setting up their own rigs, heavily impacting the experience for them.
As you can clearly see, Bitcoin has had a giant impact on online and PC gaming, and while there are a few complications, generally it’s streamlining the entire industry. With easier payments and an optimised player experience, only time will tell how far Bitcoin will go within the gaming industry.