Cryptocurrency has made a significant impact on many industries over the last decade of its growth and acceptance, from being an essential option for artists to make money from their work with NFTs to being accepted as an internationally accepted type of currency in countries such as El Salvador, the Central African Republic and El Salvador.
Another major sector that cryptocurrency has affected can be gaming as well, with the gaming industry specifically in the digital space which is changing quickly.
What’s the reason? What will platforms such as Xchange Monster (MXCH), Decentraland (MANA) as well as Axie Infinity (AXS) mean for the future of gaming? In this article, we’ll examine three ways in which cryptocurrency gaming is affecting the market for video games in general and how it could affect the gaming industry shortly.
User-Generated Content and Decentraland (MANA)
While user-generated content isn’t an entirely new concept that was introduced to gaming through cryptocurrency, it’s part that makes up the experience that cryptocurrency gaming has perfected by encouraging the creation of assets created by users by the financial rewards the games offer.
Consider Decentraland (MANA) or similar metaverse projects, as an example.
Within Decentraland (MANA) Users can develop a range of assets, ranging including buildings, clothes, interactive games, and environments. The assets can be bought or used to make money, providing the users the opportunity to earn money from their passions. This can be later converted into fiat currency, or back to the Decentraland (MANA)ecosystem.
Gamers who produce videos for the community may receive financial compensation for their work. This lets the content become an instrument to earn money and can be a major part of one’s daily life since it isn’t just an activity.
The ability to make money off of your passion is what crypto allows. Artists can make money from selling their work as NFTs, programmers earn by publishing and releasing their crypto-related applications and gamers are now able to make their passion for gaming to benefit their communities with their content and turn it into an income-generating model.
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