About
Newsroom
Careers
Crypto Ownership Data
Blog
White Paper
Support
API Documentation
Exchange Rate
Gaming
Cryptocurrency in the Gaming Industry
Cryptocurrency Gaming
Gamers make up more than 1/3 of the world’s population today. It is undeniable that cryptocurrency has changed the gaming industry, whether be it in terms of payment or gamefi. Here we will explore the demographics of crypto gamers and how major gaming companies can leverage crypto to unlock new market opportunities.
Potential of crypto in the Gaming Industry
According to a medium article, 55% of Millennial gamers own cryptocurrency and 80% of this group are interested in using cryptocurrency to make transactions within gaming.
There are also findings that 48.6% of crypto owners would consider spending cryptocurrency on online gaming or gambling in the future. and 57.8% would consider spending cryptocurrency on computers and electronics.
The importance of cryptocurrency as a payment method for gamers
A seamless payment experience is important, as half of Latin American and the Caribbean paying gamers have backed out at the checkout of a video game-related purchase.
After this, 36% abandon the purchase completely and 34% go to another store/website.
Similar issues arise for those creating video (game)-related content. Only 1 in 6 content creators say they experience a seamless pay- out experience.
The most frequent pay-out issues they face are extra fees 43% and speed of payment processing 36%.
This suggests that adopting cryptocurrency as a payment method can help improve the gaming experience of users by improving the checkout and payout process for them.
Future of crypto in gaming
Cryptocurrency has gained popularity in the gaming industry, with top gaming companies like Microsoft Xbox, Twitch, and G2A entering the cryptocurrency space.
Crypto games are now transforming the games market by letting players earn while playing. As more gamers accept crypto, gaming companies have a vast market opportunity to reach crypto gamers worldwide.
