How is Crypto Changing the Gaming Industry?
The gaming industry prides itself on being one of constant innovation and modernization. It is constantly looking forward, ready to adopt new technological developments to further improve the player experience and create the next best game.
Crypto is often regarded as one of the most revolutionary technical achievements of modern times. It will come as no surprise then, that the gaming industry is doing everything it can to integrate crypto and blockchain technology. How exactly is crypto changing the gaming industry? Let’s find out.
Online multiplayer has been the most important facet of gaming for a number of years now. Players crave that sense of community and interaction, it’s a massive industry, estimated to be worth $32.98 billion by 2027.
In-game purchases and transactions are a big deal when it comes to online gaming. Players can use them to buy new features, skins, and items to be used in the virtual world. With traditional payment methods, transaction times can often be slow or lagging, which can impact the player experience. By using crypto to conduct these payments, transaction times will be near-instant and will not have to be processed by middlemen such as banks or credit card issuers.
Cryptocurrencies are stored on the blockchain, a public digital ledger. Crypto transactions are secured with cryptography, making them far less vulnerable to attacks from hackers or cybercriminals.
These improved security measures will have far-reaching implications for gamers and developers alike. Users will feel far more comfortable and willing to make in-game purchases, while developers will be able to afford spending less time and resources on fortifying their security and player protection measures. Online casino players will already have noticed widespread crypto integration, as the casino industry was one of the first to identify the technology’s particular security benefits.
By using digital assets like non-fungible tokens (NFTs), game developers can offer players unique items that they can truly own themselves. Not only can these assets be used to purchase and trade for items in-game, but total player ownership also means that they can be taken out of one game and used in another unrelated one.
NFTs are unique in that they are one of a kind, players can be assured that the item they have is the only one in existence, which can work to create a far more exciting and engaging user experience.
By using crypto and blockchain technology, game developers can introduce all sorts of new features and game mechanics into their titles. This has given rise to dedicated crypto-games, which we can certainly expect to see more of in the future.
The advent of crypto and blockchain technology has changed the face of many global industries, perhaps none more so than gaming. The unique benefits the technology offers, such as improved speeds, better security, and digital ownership capabilities, have heralded a new era for online gaming and promise for even more exciting things to come.
BGAMING DONATES $5,000 TO UKRAINE CHARITY FOLLOWING ICE LONDON PLEDGE
iGaming content provider BGaming has donated $5,000 to UNITED24, a charity raising money for medical aid and critical needs in Ukraine.
At this year’s ICE London, the fast-growing firm gave visitors the chance to receive merchandise featuring designs by renowned London artist Thumbs.
As an alternative they pledged to give $50 to the charity instead, which more than 70 generous partners opted to take up.
After boosting the final amount, BGaming has now pledged to continue its fundraising drive at IGB Live! Amsterdam, SBC Barcelona, and SiGMA Malta later this year as part of a commitment to ‘create positive change’.
UNITED24 was set up by the Ukrainian government to provide a secure platform for donors to raise funds for medical aid, defence and demining and rebuilding Ukraine.
Currently, they are running two medical aid projects which seek to raise money for more urgently needed ambulances in the war-torn country.
At the time of writing, it is estimated more than 8,000 civilians have been killed in the conflict, while more than 13,300 are believed to have been injured.
Catherine Puteiko, CMO of BGaming, said: “Small acts of kindness can have a big impact on the world, from caring for others to creating positive change. BGaming’s recent charity initiative at the ICE London exhibition was a shining example of this ethos.
“Our partners had the option to donate to a worthy cause or receive our branded merchandise, and we’re thrilled to share that this simple initiative raised 5000 dollars for victims of war in Ukraine. Let’s continue to think big and act small to make a positive impact on the lives of others!”
PRESS STATEMENT OF PAGCOR REGARDING OFFSHORE GAMING OPERATIONS
Senate Ways and Means Committee Chairman Sherwin Gatchalian presented the chairman’s report which cited that the risks of allowing the continuous operations of offshore gaming operations outweigh their benefits to the country. Citing R.A. No. 11590, he further states that offshore gaming should be shutdown, now that there is no third-party auditor monitoring their income.
The Philippine Amusement and Gaming Corporation (PAGCOR) would like to reiterate its firm commitment to uphold the integrity of the gaming industry in the Philippines, including offshore gaming.
After determination of Global ComRCI’s default in its obligations and commission of unlawful acts under R.A. No. 9184, a Notice of Decision to Terminate the Consultancy Contract was served to third-party auditor Global ComRCI on March 9, 2023, effective upon thirty (30) days from receipt thereof.
PAGCOR is now in the process of engaging a capable and reputable third-party auditor who can independently and accurately conduct verification of the offshore gaming licensees’ gross gaming revenues.
Further, PAGCOR reassures the public that to maintain the integrity of regulated gaming in the country, the state-run firm will not hesitate to impose appropriate sanctions or penalties to erring licensees or service providers. We will ensure that all revenues from regulated gaming will continue to support the government’s nation-building efforts and uplift the lives of Filipinos.
OnAir Entertainment™: Flexibility of more providers vs. Exclusivity with a single provider
OnAir Entertainment™️, the go-to live casino games provider, has added their voice to the increasing industry concern regarding the negative impact of exclusivity deals within the live casino space.
There has been a growing discussion around the impact of exclusivity deals on operators and platforms, with OnAir Entertainment™ believing that one supplier setups create several limitations for operators. Limitations arising from exclusivity push players to find additional options from more diversified live casino offerings. It’s known that players prefer websites with more content choice, allowing them to search for the games they want to play – player freedom is vital to maximizing cross-sell and therefore increasing platform revenue.
Do exclusivity agreements truly fulfil the promises and needs of the industry? Markets need to change rapidly, adapting to new and more restrictions on operators, which requires sufficient flexibility and creativity. Can an agreement set in stone, determined by a single supplier and based on a rigid commercial model, be flexible to a regulatory landscape that is constantly shifting and help operators to be competitive?
Given the global nature of the biggest operators, multi-supplier deals also mean that they can test out different games across markets and not be forced to stick with one product globally. Less exclusive deals allow operators to be much more agile when operating internationally, as localization needs must not be ignored. A key part of OnAir Entertainment’s™ product offering is the ability to input customizable elements within their digitally branded and localised environments so that operators can reinforce and scale their brand together with OnAir Entertainment’s™ tech. While also using reasonable commercial terms so our operators can test audience response in branded environments with low risk before committing to more sizeable projects.
There is no doubt that the variety of live casino suppliers continues to grow, causing increased industry competition and that this competition pushes continued innovation within the iGaming industry. It is this belief in constant innovation that is at the core of all OnAir Entertainment’s™ operations. By continuously developing improvements in UI design, 3D animations, allowing for localization and the incorporation of brandable elements – OnAir Entertainment™ hopes to increase user engagement and player experience.
Seval Alev Kaya, Director of Business Development at OnAir Entertainment™, said “Innovation is at the heart of our operations, and our main priority is to provide maximum flexibility for our clients. Operator differentiation is directly linked to content diversity and harmony. We see that many operators are trying to widen their audience by adding more casino vendors, especially in live casino space in order to reduce the need for a single vendor that comes with unfavourable terms, high costs, and limitations. We are the alternative solution with a service-minded approach, invested in our client’s growth.”
Week 13/2023 slot games releases
Kasinopartio: Finland Next To Regulate The Casino Market
How Gamers are Putting the Future of Fun Front and Center
Opera GX wants you to pimp your browser with new Mods feature
Mr Green Launches in Germany on 888’s Proprietary Technology Platform
Evoplay Bolsters Lithuanian Foothold with 7bet signing
Wazdan solidifies presence in Bulgaria with INBET partnership
Case study: 103% ROI on Glory Casino offer in Bangladesh
Armalytix and Betsmart Consulting announce new partnership
Roobet Announces Partnership with Entertainment Legend Snoop Dogg
Australian player hit a jackpot of 126 030 AUD in RocketPlay
7777 gaming has certified over 50 games for Romania
Interview with Dmytro Taran, COO at Slotegrator
BSG Awards 2023 Online Voting: Vote for your favorite Baltic or Nordic operators and suppliers
The international games industry meets in Hamburg – 500 guests at the Hamburg Games Conference 2023
Gaming Americas Weekly Roundup – February 27-March 5
Affiliate Industry5 days ago
Second Big Win 2023: Affilka by SOFTSWISS Takes Best Affiliate Marketing Solution Title at Asia Gaming Awards
Asia5 days ago
Kiron Interactive takes home best Fantasy/Virtuals Solution title at Asia Gaming Awards 2023
Central Europe5 days ago
Edict Egaming Partners with 888casino
Latest News5 days ago
CreedRoomz is Launching New Game Called Two Hand Roba Baccarat
Industry News5 days ago
EGT’s Phoenix Slot Cabinet Will Rise at GAT Gaming & Technology Expo in Cartagena
Australia5 days ago
Responsible Wagering Australia Appoints Kai Cantwell as its CEO
Interviews4 days ago
Q&A w/ Jean-Pierre Houareau, CEO at Live Solutions
Industry News5 days ago
Gauselmann Group Receives Sustainability Award