Alongside crypto-currency, non-fungible tokens (NFTs) have massively gained popularity in the gaming industry. Both are derivatives of blockchain technology and are the go-to option for enhancing gaming flavor for crypto and video games.
NFTs are digitally created symbols that represent real-world items like real estate, hence are used as in-game reward tokens. An example of NFTs is gaming coins, which are in-game currencies used to purchase things are cars and land in the virtual gaming world.
What are proprietary gaming coins?
Crypto gaming sites have integrated coins available on certain games. The first group of gaming coins is known as proprietary. Proprietary coins are developed by and are used on a specific gaming platform. Janta Bazaar popularly known as JB coin is an example of a proprietary coin.
The coin was developed and used in BC.GAME platform. JB Coin is a reward system available on some games on the bookmaker’s casino platform. Some of the games and categories using JB Coin include those in the VIP section. Gaming coins blend effectively on crypto betting sites that use cryptocurrencies.
While gaming coins usually have no real value, they are vital for players to test the experience of a game before staking real money. Gaming coins cannot be exchanged, deposited, or withdrawn but only serve more fun to the participants.
Away from the betting industry, gaming coins also come in handy for video games. In games like Euro Truck Simulator and others, gaming coins are used to purchase trucks, weapons, land, and any other objects relevant to the game. These are better known as digital assets in the virtual world of gaming.
Gaming crypto coin wallets
The second group of gaming coins is not tied to a specific game. Unlike proprietary gaming coins, you find these coins in several games. A prime example is the Enjin coin that is used in different games. The coin was developed under the blockchain approach and it mirrors the actual cryptocurrencies that we use.
As aforementioned, gaming coins operate like cryptocurrencies like Bitcoin. As such, eWallets have been developed to hold the coins. Enjin, a software company has also developed the Enjin wallet that allows you to keep coins earned from different games. You can transfer or deposit coins to different games through the wallet.
Foolproof nature of crypto gaming coins
It is also a standard operating procedure for crypto or blockchain games to have smart contracts. Smart contracts involve a neutral computer code that is written into the system. This code automates the transactions relating to the coins including deposits and withdrawals, as well as in-game rewards.
The smart contract mechanism acts as a virtual mediator between the game and a player and it executes instructions on their behalf. Its essence is to create a heightened degree of reliability such that the player does not have to trust the algorithm of the game. Licensed gaming sites including BC.GAME has such infallible systems for clients.
Crypto gaming coins give an upper hand to crypto games with regard to entertainment and security. The opportunity to try out a new experience before fully committing to it is a very attractive proposition, especially for new users. Gaming coins have reinforced the standing of Crypto gaming sites like BC.GAME.
What are the best gaming crypto coins?
Apart from JB Coin from BC.GAME and Enjin, there are several coins that have hit the top dollar and are in high demand. The best gaming currencies are evaluated based on their affordability, speed of transactions, and their power in trading different in-game assets.
One of the top-performing crypto gaming coins by the mentioned standards is the Decentraland. Its name in colloquial terms demonstrates the very nature of crypto/blockchain technology. These currencies run on a decentralized network of computers where users trade currencies without the involvement of a third party including the government.
Decentraland is a crypto-gaming currency that runs in one of the most auspicious pieces of virtual reality concepts yet; the metaverse. The metaverse is an intriguing virtual world created to enable users to interact in a computer-generated environment.
Mirroring a video game, Metaverse is a space where you can assets including land. Using this currency, you can communicate with other individuals, travel the metaverse, and attend virtual events just like you would in real life. Other games that use crypto coins include Axie Infinity.
The threat of volatility of gaming coins
Just like cryptocurrencies like Bitcoin gaming coins are also volatile in nature. Their value fluctuates in sharp fashion which can either lead to steep losses or profits. While you cannot exchange this currency for real money like in BC.GAME, this hurts your prospects in the virtual world.
A case in point of the rapid plummeting of crypto/blockchain NFTs is an American influencer’s creation that tanked within a short period. In a blockchain game titled Crypto Zoo, users bought egg tokens that were set to be sold at a profit later on. Before reaping their rewards, however, the tokens/coins’ value nosedived leading to agonizing losses.
How to play using gaming coins
Sites like BC.GAME allows users to use gaming coins for fun and entertainment when playing games. The coins are also a much-needed experimentation tool before a player stakes real-value currency like Bitcoin or Litecoins.
The first step to play using crypto gaming coins is to set up an account on a gaming platform. Next, you download a crypto gaming coin wallet App to hold your coins when possible. For proprietary coins, however, an eWallet is automatically created for you inside the game. Play your favorite coin games to win and accumulate coins. You later use the coins to acquire assets inside the game to enrich yourself and have fun virtually.
Conclusively, gaming coins are at the heart of crypto gaming operations. The actual value of the coin notwithstanding, crypto games are all about currency. The gaming coins fit perfectly within crypto betting sites like BC.GAME, thereby giving players vital orientation before actually participating. While the coins often do not have an actual value, it is important to choose the right coin for success in the game.