The Hyperlink Between the Video Sport and Crypto Industries Is Rising Stronger

Unlock The Incredible Connection Between Gaming & Crypto!

As the gaming business continues to grow, so does its connection to the cryptocurrency market. Reports have revealed that big online game publishers are beginning to incorporate blockchain and cryptocurrency features into their networks in order to deliver a better experience for both creators and gamers.
Here are some fascinating numbers from the gaming industry:

The U.S. gaming business generated a record $43.4 billion in sales in 2018, according per the data given by the Entertainment Software Association. About 150 million people in the United States play video games regularly, accounting for a market size that exceeds $100 billion annually in sales, subscriptions, and in-game transactions alone.
There are an estimated 600 million gamers in China, making its gaming industry the largest in the world. The government has banned consoles because of the potential for widespread detrimental physiological consequences among young people. This is more than the total population of the United States. In 2018, gaming brought in more than $19 billion for China.
Professional gamers can earn hundreds of thousands of dollars at eSports events for games like Counter-Strike: Global Offensive and League of Legends. Millions of online gamers all over the world tune in to watch these competitions on Twitch, YouTube, and Mixer.

There are a few notable gaming companies adopting blockchain technology:
Due to their shared reliance on VR technology, the gaming industry and the cryptocurrency sector (which uses digital currency) have a lot in common. Tokenized currencies, such as cryptocurrencies, are increasingly being used by gamers to buy in-game items like skins, mods, and other enhancements.
Top video game studios are teaming up with blockchain-based networks to monitor operations, provide new features, and accept cryptocurrency payments. One of the newest publishers to embrace the blockchain revolution is Epic Games, creators of the wildly popular game Fortnite. The company has just reached a deal with The Abyss, a digital distribution platform for MMO and RPG games, to make Epic’s Unreal Engine available to creators that subscribe to The Abyss’s network. In addition, they can accept Abyss tokens as payment.
There are a lot of upsides to putting games out on the blockchain. Distributed content across several platforms, for example, may be managed more effectively, and transactions conducted on the blockchain can be more easily verified.
Ubisoft, maker of popular games like Assassin’s Creed and Rainbow Six, is also working on Ethereum-based applications. In-game content like weapons and armour can be sold through the applications. Integrating Ethereum smart contracts brings up a number of options, such as enabling players to make wagers with real-world value and validity validated on the blockchain, as well as selling gaming assets.
Online Gaming and Cryptocurrency:
The overlap between the gaming industry and cryptocurrency is undeniable. It is speculated that Vitalik Buterin’s inspiration for the Ethereum network came from his time spent playing World of Warcraft. He became dissatisfied when the developers removed a favourite component of his, so he left to find a way to prevent future removals of game elements without widespread agreement.
Numerous games now available contain features built on blockchain technology, making them unalterable and irreversible.
There are currently tens of millions of gamers between the ages of 22 and 32 who strongly support the video game business, and Millennials are the first generation to grow up playing video games.

The Median Age of American Gamers is 33, According to Analysis
According to a Nielsen study from this past June, 54% of young gamers also have full-time jobs. The average annual income of these gamers is $58,000, and 38% of them pay for music and video streaming services. This group also has the highest monthly spending in the gaming business, at $112. It would appear that their interest in esports extends beyond simply purchasing video games, consoles, and digital goods. On average, millennials give $29 per month to the creators of video games.

Going by contemporary analysis figures, the ordinary American gamer is 33 years obsolete.
These gamers are also the industry’s largest spenders. They usually shell out around $112 monthly.
According to the numbers, they are not only passionate buyers of video games, consoles, and digital devices, but also avid viewers of esports competitions on platforms like YouTube and Twitch.
Millennials, on the whole, give around $29 per month to the creators of video games.