Many years ago, the notion and image most people had about playing gaming-style games would most likely be those of famous Las Vegas resorts or the bright lights of somewhere like Atlantic City. It must be said, of course, that these places, along with emerging centers such as Macua, still attract millions of visitors year after year.
To many, these are the gambling cathedrals and offer experiences that cannot be replicated. In many ways, that is true, with the glitz, excitement, entertainment, and exhilaration of these places, especially Las Vegas, being impossible to deny.
With all this said, the emerging and now global availability and popularity of online gaming has created an entirely new game-playing landscape. Naturally, this is part of a global digital entertainment industry, where it’s all about attracting players, gaining market share, and creating great online casino playing experiences that continue to evolve and ensure that people use your platform.
But it is, of course, much more than that, with the online gaming sector leading the charge when it comes to payment options, and in particular, the rise in usage and promotion of cryptocurrencies as accepted and often preferred site currency. One thing this does, of course, is not only create a new and stronger market in terms of where cryptocurrencies are accepted, but it also opens up new revenue streams for the online gaming industry itself. This, naturally, suggests that the financial landscape is changing, and that is worth investigating.
Paying And Playing Creating Cryptocurrency Consumer Expansion
Let’s make sure we get it clear: there are hundreds of thousands of online gaming games, apps, and platforms that are entirely free to play and require no betting at all. This may seem obvious, but it is worth stating. For the purposes of this article, of course, I am looking at the in-play payment or wager-based games that are also available and indeed increasingly popular. Whichever of these may be your preference, and many people enjoy both, the financial landscape is changing in the online gaming world just as it is in the wider digital entertainment sphere.
From paying for streaming services to online shopping and more, things are evolving, and cryptocurrencies represent at least part of that change. One of the more recent innovations is two-fold; not only do many online gaming platforms now accept cryptocurrencies as a payment form, but there are now those that are crypto-based entirely. The idea of a site that has a payment platform to not just accept but only accept Bitcoin, Ethereum, etc., is somewhat revolutionary and most definitely shows a wider expansion of consumer payment preferences and choices. Take a quick look at any crypto news content and you will see just how prominent it now is both in terms of trading as well as usage.
I know that online gaming accepting cryptocurrencies only matters within certain circles, but it represents a much greater sea of change when it comes to digital payment options and how they are becoming more mainstream. In the wider world of global finance, the expanding use of cryptocurrencies is becoming increasingly important. After all, like the early days of contactless payment, it is often as much about the adoption of technological advancements as it is about the value of them. Again, there is more to it than that, but when new payment forms first emerge, they are often niche, inevitably mainstream.
Financial And Consumer Behavior Driving Crypto And Digital Currency Growth
Remember, of course, that when Bitcoin first appeared in 2009, it was nothing more than a somewhat geek-associated trading currency. Now it is accepted by online gaming, it is used in eCommerce, and it has even been used to buy real estate. Governments are now also talking about Central Bank Digital currencies, making it even more critical to the future of global finance. As ever, consumer behavior continues to drive a lot of the fintech and general financial transaction trends.
Whether Central Bank Digital currencies will become commonplace is for another day and debate, but it is clear that early adoption of more technological payment methods is on the increase. This is partly due to the current generation, which is now used to digital transactions and payments, but also related to the increased and increasingly stringent online security, with blockchain software being the stellar and perhaps most commonly known example. With this protecting the vast majority of digital transactions, consumer confidence is rising and digital payments are ever-increasing.
Ultimately, cash is still being used all over the world, but it is also fair to suggest that the long-term financial transaction prospects are likely to minimize cash usage more and more, especially as new payment methods and software safety emerge. This is not only likely to drive cryptocurrency further into the mainstream, but it is also highly possible that digital currencies will become ever more dominant in both financial markets and consumer circles. Only time will tell.
