In the expanding crypto ecosystem, numerous possibilities exist for generating income. Today, we focus on the lucrative crypto gaming sector and its comparison with traditional gaming for revenue generation. This article offers a guide, breaking down key aspects of both industries. Through various categories, we explore how much money you can earn from these systems.
How to earn money: Crypto gaming vs Traditional Gaming.
It is crucial for you to understand how to make money in these ecosystems before we look at how to maintain it. The gaming industry in crypto is built on similar foundations as traditional games, but the difference comes from the game infrastructure.
We are going to discuss further by breaking down the two industries basing on the key factors in the topic, in order to establish a clear a precise understanding of the two industries. For a technical dive in the crypto gaming industry, visit Crypto University to learn much more.
Game Assets.
Both industries have game assets to achieve gameplay. Crypto games have tradable assets (value changes) while traditional games have static game assets (value doesn’t change). This opens up a wide range of opportunities in crypto games as the assets can appreciate in value.
Crypto game assets are also owned by the user. Unlike traditional games, access to assets can only be purchased, but ownership of the asset still remains the property of the game creators.
Game guilds.
In traditional games, guilds rely solely on game sponsorships or grants, which are difficult to obtain and restricted to top players. Meanwhile, in crypto games, all users benefit from staking in gaming guilds, allowing them to collectively reap rewards from their efforts. This is possible without barriers like skill or player ranking.
Game guilds are also a way for crypto games to reward long term players for their commitment with occasional airdrops and in-game rewards.
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Game tournaments.
Both industries host tournaments, providing players with opportunities to earn money. In traditional gaming, tournaments occur as seasonal events, with prize pools exclusively available to professional players in those specific games. Making it difficult for average players to participate in them. While in crypto gaming, tournaments can happen as frequently as hourly. With large prize pools and various tiered rewarding systems. The possibilities are endless.
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Which Gaming Industry is the best for making money from 2024.
In this section, we are going to look at the various aspects that will determine which industry will be more rewarding in this era with all the innovations taking place. We are focusing on funder mental aspects and won’t go deep into all details.
Game Ownership
In traditional gaming, games are owned by the production company or studio that built the game. There is no involvement of the public in the governing of the games.
This promotes decentralization and community growth as people govern it.
Parent companies own and maintain servers for traditional games. This results in vulnerabilities that downtime and power shortages can cause.
In contrast, crypto games operate on the blockchain in a decentralized manner. The network runs and maintains them, avoiding outages like those experienced with physical servers.
Game economics
this section covers how finances are handled in the gaming industries. In traditional gaming, there is only game assets that act as a store of value that is predetermined by the company, which allows for exploitation of the community. In crypto gaming, gaming assets are tradeable and transferable, hence allowing the use of trading capabilities to players. The existence of tokenomics and airdrops provides more ways to make money to the users.
Community Dynamics.
Crypto Gaming Fosters communities that are often deeply involved in aspects beyond gameplay, such as trading, investing, and governance within decentralized gaming platforms. Community engagement is crucial for the success and growth of crypto gaming ecosystems.
In Traditional Gaming, Communities tend to revolve around gameplay experiences, forums, social media, and events organized by game developers or publishers. While communities can be passionate, their involvement often centres on discussing game strategies, updates, and lore.
Security.
Crypto Gaming Leverages the security and transparency of blockchain technology to ensure ownership rights, provable scarcity of assets, and tamper-resistant gameplay mechanics. Smart contracts govern interactions between players and the game, reducing the need for trust in centralized authorities.
Meanwhile, Traditional Gaming Relies on centralized servers and authority figures (developers, publishers) to maintain game integrity, manage economies, and enforce rules. Players must trust that the game developers will maintain fair play and protect their investments in the game.
Final verdict.
From the comparisons we have made, crypto gaming comes as the winner. Don’t miss out on the opportunities to make money from crypto gaming in 2024. To get started on your journey to wealth. Join our recommended gaming platforms, Sportsbet, and Bitcasino. With easy-to-use interfaces and 24/7 customer support.
Conclusion.
We have broken down the two gaming industries that with change gaming in 2024. To stay in the loop and up-to-date with the latest in the crypto space. Join Crypto University. Africa’s first crypto education platform.
