Cryptos Making Serious Inroads in Online Video Gaming – Study
Cryptocurrencies are set to dominate online video gaming, according to the findings of a recent study.
Cryptocurrency adoption in online video gaming is picking up pace, according to a study by Worldwide Asset eXchange (WAX) among 1,000 gamers in the United States. WAX conducted its research in February, polling gamers with previous experience in buying, selling, or trading virtual items.
“The widespread usage of cryptocurrency in online video gaming is imminent,” commented WAX Token CEO William Quigley.
“Video gamers are tech-savvy members of a global community with the desire to make frequent, small transactions across borders. The results of the study could not be clearer: video gamers want to be able to use cryptocurrency to make low-cost gaming-related transactions,” he added.
According to the study, 55% of Millennial gamers have invested in various digital currencies as opposed to only 5% for Millennials in general. However, 87% of the respondents said they had not used cryptocurrency in video gaming.
WAX also found that 80% of the poll participants planned on using digital currencies to pay for transactions within the video gaming community. In addition, almost 67% said they wished for more opportunities to use digital assets in video gaming.
The researchers conclude that the adoption rate for digital currencies within the video gaming community will accelerate because of the perceived benefits and the tech-savviness of gamers, most of whom represent the Millennial generation.
WAX said in a press statement:
“Gamers see many potential benefits to be gained from using cryptocurrency in video gaming, with over 75% of gamers citing increased ease of use as a major benefit. Additionally, 66% expressed interest in the heightened security and 49% would enjoy the faster processing speeds. Furthermore, 42% like how cryptocurrency radically reduces exchange rates and 44% desire lower transaction fees.”
Blockchain to boost LatAm’s gaming industry
In Latin America, the region’s $4.1 billion gaming industry is expecting a major boost with the partnership between UK-based blockchain gaming company Triforce Tokens and Busca Todo.
Triforce’s FORCE cryptocurrency will allow gamers in Latin America to generate income while playing, giving them the freedom to manage their in-game wealth across several platforms and games.
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