It is a digital asset which has been designed to work as a medium of exchange for the function of security transactions and controlling the creation of additional units along with the verification of assets.
CRYPTOCURRENCY IN SPORTS AND GAMING
Cryptocurrencies are slowly carving their way into the world of e-sports and online gaming. Some of the markets are hesitant to be involved in cryptocurrency but on the other hand, there are a few gaming industry and markets which are very willing to be involved in cryptocurrency.
TOP 5 CRYPTOCURRENCIES FOR ONLINE GAMING AND E-SPORTS
- Game credits
Game credits were established in 2015 and it includes solutions specifically for gaming developers. The aim of gaming coins of Game credits is to make the development of a game open-sourced. As a result, their coins can become a choice for the gaming industry. Game credits targeted to enable in-games rewards, along with content purchases and developer payments in online casino games. They have established a decentralized payment system by leveraging the block-chain.
By the use of Decentraland, developers can purchase “land” through block chain. They have seen significant gains by the introduction of MANA gaming coins. Decentraland not only gives an opportunity to create content to the developers but also gives them land with an SDK. They have also established a connection with Discord which is a communication platform. The system provided by Decentraland has seen a high demand in the market, providing enough advantage to them.
MobileGo is one of the most recognized cryptocurrency in the gaming market, with its decentralized platform and block-chain. Established in 2017, MobileGo is responsible for revolutionizing the e-Sports industry. The gaming coin MGO provides free slots and is built on Ethereum’s ERC-20. The cryptocurrency is designed to facilitate tournaments and competitive gaming along with P2P match play. The MGO coin credits by MobileGo ranks 80th in the Coin Market Cap. They also allow the holders to have rewards for creating content and promoting gamer-audience interaction events.
Wax project provides decentralized market for all the assets in video games such as mods, weapons, and skins. The cryptocurrency produced by Wax is in the top 100 on Coin Market lap. They have gathered attention from large players in the crypto industry by providing free slots to their users. If any gamer is looking for a market place which resides completely on the blockchain, Wax project is the answer for them.
This platform provides the opportunity to create a custom gaming currency for the specified community or game. In short, the gamer can create their own Ethereum-based tokens or create a program for ventral items which will follow parameters determined by you. According to Enjin, their platform of book chain can help in the reduction of fraud and lost items. Enjin is a great gaming cryptocurrency except at its weakest point which is the human portion of the platform.