Frontier recently conducted a study on the rise of cryptocurrency use in gaming. The combination of the two seems inevitable, considering the popularity of play-to-earn (P2E) gaming. And as it turns out, gamers are increasingly interested in seeing crypto adopted by popular game titles.
Here, we’ll discuss the evolving trend of cryptocurrency in gaming, which crypto games are the most popular today, and in which titles gamers would most like to see crypto included in the gameplay.
Choose your weapon (and cryptocurrency)
According to Frontier’s research, many gamers believe the future of gaming is in the blockchain. Over 50% of them support integrating crypto into the gaming world, expecting it will improve game quality. The growing trend of cryptocurrencies in video games may also force video game studios to collaborate with cryptocurrency start-ups or develop P2E games.
The data also shows that crypto in the gaming industry may be more than just a trend; it could be a reality that will drive the gaming industry. Already, 86% of gamers have played a crypto video game. In doing so, they have returned an average profit of $1,000 over just three months. Most players converted their earnings to cash (42%), but some converted it to Bitcoin (39%) or reinvested it into the game (38%). Other common choices included using it to buy more cryptocurrency (36%) and transferring it to a savings account (36%).
Gaming coins have already become a whole new market within cryptocurrency investing. They were responsible for half of all blockchain transactions in 2021, including $2.32 billion in in-game collectibles sales in the third quarter alone. And the crypto token, $SAND (used in the Frontier study respondents’ top game, The Sandbox) reached a market cap of $772 million last month.
Top Crypto Games
At the time of the study, respondents’ top video games with in-game cryptocurrencies were:
- The Sandbox
- Battle Infinity
- Lucky Block
- Star Atlas
- My Neighbor Alice
In these games, players can earn digital assets by completing certain tasks and then swapping their crypto tokens for USD. But gamers also told Frontier they’d like to see cryptocurrency incorporated into popular game titles like:
- PlayerUnknown’s Battlegrounds (PUBG)
- Candy Crush Saga
- Call of Duty
- Overwatch 2
In-game monetary incentives are so appealing that over 80% of survey participants said if popular games offered crypto assets or rewards, they would play them exclusively instead of other games. This shows an incredible market potential for video game companies that integrate crypto into their products.
Next stop: Metaverse
Gaming coins and cryptocurrency might be the next big thing in gaming, but many gamers may also want to see it enter the metaverse. Almost all of Frontier’s respondents (90%) said they’d like to see metaverse-exclusive titles as well. Considering the study also found that most gamers would likely switch to crypto gaming altogether if their favorite titles integrated crypto, this could indicate a whole new market within the metaverse as well.
A New Saga Awaits
Bringing crypto into video games is a win-win strategy both for the companies that produce them and the fans who play them. Gamers want the ability to turn a profit while improving their playing skills, and they’re willing to spend an average of $300 on a game in order to do so. Now is also the perfect time for games currently on the market to find ways to incorporate P2E and cryptocurrency into their products since this trend is growing in popularity, but the market isn’t saturated yet. Soon, though, it’s likely to get even more buzz.