Crypto and Its Readiness to Solve the Gaming Dilemma of Microtransactions
Micropayments — shortcomings and advantages
The world of gaming has been transforming significantly over the last 10 years, especially in the platforms of online payments and transactions. A whopping 69% of gamers out of one thousand participants use micropayments. On average, they spent up to 10 hours on gaming and screen time with each individual, expending $84.67 within the game.
Now, micropayments are receiving bad press time from online games and the gaming world in its entirety. The reason is that they function as an easy leeway for acquiring money for gaming developers all around. Therefore, how does one solve this gaming dilemma involving microtransactions? We’ll get to know more about that in the course of our article.
The Deficiencies and Benefits of Micropayments
A micropayment is a financial settlement that incorporates little payments of cents and dollars. Within this arrangement, there is an array of business ideals that include pre-paying, post-pay, and paly as you go methods. These are frequently used by companies that make games to fish in more income from their customer base.
Popularized games have prospered from the microtransaction strategies over the past 10 years. Even though they are mostly free online video games, their income was generated from this treasure trove of microtransactions. More than that, a recent publication by Juniper Research foresees that in-game dealings will go through the roof at the $160 billion marks by the year 2022.
The downside of microtransactions is the bad publicity they receive on the internet. However, there are sure profits for having a more extensive in-game portfolio. An example is the microtransaction algorithm that games such as “Uncharted, A thief`s end” use to allow newer cosmetic appearances in the game. It has been appreciated mainly by followers of the game as it enables them to reveal new skins by having more screen time. In essence, these microtransactions would allow gamers to be challenged by modern video games, and honestly, this is positive gaming news.
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This doesn’t mean there haven’t been controversies when game creators have exploited gamers with plots to use people with in-game charges.
The problem of microtransactions is that they are showcased games such as Grand Theft Auto. This kind of games have storylines that are complex for nonpaying daily games players to earn. This includes any in-game treasures and unlocking new levels by doing the standard game missions. It often causes frustrated gamers to buy credit packs of between $19.99 and $99.99.
These extra gaming purchases often aren’t worth the cost and the trouble. They often lack these features, and the gaming experience often frustrates the purchasers to the point of giving up. This is the latest gaming news, and it is quite disappointing to hear reputable gaming companies letting down gamers.
Gaming industry news has now revealed the importance of virtual currencies. These options were resorted to back in 2017. This was a time when the gaming cryptocurrency as possible as the prices were stable. 2018 in video gaming boomed because of these developments. In that year, the first industries to introduce their customer base to used were bitcoin and bitcoin cash. This made transactions within new gaming consoles, a possibility. Gaming industry news reveals an income increase of up to 13%, an improvement in revenue as compared to the year 2017. Therefore, as time passes, the number of game developers using cryptocurrencies for purchases within their games will increase startlingly. The market available for these options is forever expanding, and the in-game tokens and novelties will help boost the gaming industry.
In the list we have below, some platforms have made video game news and have been integrated by the new video games. They make in-game purchases a possibility, including weapons, apparel, and characters famous within the gaming community.
- Gipsybee: The platform allows for purchases of a variety of gaming hardware, including wireless gamepads and other gaming memorabilia. It presently accepts many crypto assets, including Ethereum, Bitcoin, and Bitcoin Cash. Mobile casinos also take advantage of these new cryptocurrencies to make transactions possible.
- Scan.co.uk: This is a sanctuary for enthusiasts of cryptocurrencies wishing to splurge their Bits on expensive hardware for gamers which include niche gaming chairs, the latest gaming consoles, etc.
- Bitrefill: The platform gives its customers permission to buy online vouchers for the conveniences of gaming.
- Caseking: Those familiar to Gipsybee will see their similarities. It is a firm from Germany that bestows upon its client base a variety of gaming memorabilia, such as GPUs, headsets, gamepads and other memorabilia. However, only Bitcoin can be used.
- BMI Gaming: This platform is loved by video game buffs who have a love for all gaming that involves arcades. Its portfolio is full of the classics: Space Invaders, and even Luigi’s Mansion. However, these are very classic games and thus expensive to purchase both the games and the arcade machines via cash. The good news is that with the right quantity of cryptocurrency, these transactions can be effortlessly made.
Many people might not necessarily welcome the idea of micropayments, but it appears to be the new forecast in the gaming industry news. The ability of cryptocurrency involvement in microtransactions to decrease the overall transaction costs is quite the added advantage in gaming. This ensures the gaming developers can cut the value of their content substantially. Gaming news has brought to our attention that this content includes downloadable updates on apparel, skins, and characters within the games. Bitcoin is easily traceable and has made game news by making the transactions scaled down to the most straightforward levels.
We hope that all this news has been scaled down to help you understand the importance of microtransactions and how to go around them. We would delight in any questions and comments you provide on cryptocurrency. Are there any new developments concerning gaming microtransactions that you know about? Please share with us by commenting below.
Thomas Glare helps cryptocurrency investors in developing profitable portfolios he wrote all the latest news and information that they need. Investments in cryptocurrency require a level of precision, reliability, and accuracy that is unfamiliar to other markets. And for that, Thomas has developed some databases to help fill in information gaps.