Find out which cryptocurrency is the most popular in the casino industry and what new technologies the iGaming has borrowed from video games.
It’s no secret that the iGaming industry is on the rise, not only due to the availability of online casinos for players (you can bet from anywhere, as long as you have a smartphone or tablet with you). Another important reason is the desire of the industry to follow trends and use as many new technologies as possible, which attract a young audience to online gambling.
Among these technologies are such significant trends as gamification and blockchain technology. Let’s analyze each of them in detail.
Gaming helps iGaming
One of the trending technologies that casino operators are successfully implementing into their business is gamification. It originates in the gaming industry and its essence is that the player can add personal preferences to the game, choosing the character they will play as, choosing the quests that will be completed, receiving rewards for completing these quests or levels, and so on. These categories of gameplay can be paid either with the player’s game experience points, or with real currency, which they credit to their game account in order to spend on “tuning” their character and buy additional “perks”. All of these features give players a sense of impact on the game and a desire to keep playing.
Top online casinos willingly add slot games to their collection, which also have a gamification function. Gamblers are much more involved and loyal to those games in which they are given the opportunity to express their tastes and preferences. Thanks to gamification, gamblers maintain a high level of satisfaction from the game and the desire to continue playing.
Blockchain and Cryptocurrency
Initially, the idea of crypto-projects appeared in the gaming industry, where various crypto-currencies are used with might and mainly as an in-game currency for buying weapons and characters. Video games welcome the “play to earn” model, in which players can earn crypto by completing quests. There are a lot of types of crypto-game currency in video games today, but the most popular types are Decentraland (MANA), Enjin Coin (ENJ), Axie infinity (AXS), RobotEra (TARO).
Crypto projects are also emerging in the iGaming area. Blockchain technology has made it possible to create two types of online casinos. The first is a standard operator that, in addition to fiat currencies, integrates cryptocurrency as a payment and withdrawal method. The second is a crypto-casino that works exclusively with crypto-currencies, without intermediaries between the player’s crypto-account and the blockchain. The most popular cryptocurrencies in online gambling are Bitcoin, Ethereum, Dogecoin, Bitcoin Cash, Litecoin, etc.
In conclusion
At the moment, online casinos use cryptocurrency for betting, but given the popularity of gamification technology, it may happen that cryptocurrency will also become an in-game currency in a casino so that the gambler can “tune” characters or, for example, pay for quick access to more interesting bonuses or slots, which usually become available when they reach a high gaming level.
