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Cryptopedia prediction: 2021 will be the year of crypto-gaming

Nov 23,2020 - Last updated at Nov 23,2020

The ever-growing gaming industry has been booming for several years now with a turnover in excess of over $33 trillion in 2020.It is worth noting that the mobile gaming industry has reached a turnover of over $74 billion in 2019.

Now the cryptocurrency market is set on a course towards carving a slice of the gaming industry. Introducing new technologies that enable gamers and game developers to capitalise with in-game content-based crypto-trading and supportive eco-systems.

Introducing cryptocurrency into the gaming industry is a new tendency that is gathering momentum due to the development of infrastructure technologies such as Non-Fungible Tokens based on Ethereum. 
Ethereum has introduced the Smart-Contracts infrastructure into the crypto-world, yet new emerging coin-based platforms are utilising the technologies that have now been proven reliable, thus providing a whole new set of finance trading capabilities. The years 2020 through 2021 will see the first large-scale platforms for in-game virtual goods and items which will be capitalised by means of Ethereum NFT technologies. As a consequence, the cryptocurrency and gaming industries will be incorporated into one block chain-based gaming industry.

Combining the human tendency for ownership with the long-existing custom of trading in a capitalistic digital universe constitutes the new finance frontier. A frontier that now attracts giant players into the NFT`s based crypto-capital market. Several large enterprises such as Microsoft`s Minecraft, Roblox`s Sandbox, Decentraland, Atari and Epic Games Unreal have already ventured into these promising financial opportunities.
For hundreds of millions of players that are already active in these digital gaming worlds, the benefits of NFTs could mean permanent ownership over their virtual goods and items. With the prospect of securing their virtual items by trading safely due to the incorporation of smart-contracts via dedicated platforms, this could obviously be the catalyst for further growth in an already vast market.

PlayFuel is an example of a platform that seems ahead of the curve by allowing game developers and gamers to exploit the robustness of these technologies. PlayFuel a Korean crypto-based company that introduced an Ethereum token (PLF) coupled with a comprehensive ecosystem for game developers as well as a dedicated marketplace. That not only allows game developers to build the next level in game-monetisation but also supports open-source platforms for game development such as Epic`s Unreal Engine. Thus, gamers can develop games on the open-source Unreal`s Engine with a profit revenue of up to $1 million with no commissions or strings attached. One should bear in mind that substantial in-game PLF`s NFT profits have no limits, thereby introducing a new element of utilisation to NFTs. Additionally, PlayFuel`s innovative marketplace offers yet another layer of monetisation to game developers.

PlayFuel`s PLF token shows real promise for catapulting the joined industries in the coming years. PlayFuel has also attracted some serious cryptocurrency market influencers such as Allen Weiss, former president of worldwide operations for Walt Disney Parks and Resorts business. Weiss was recently appointed as chairman at PlayFuel while acting as chairman for Global Blockchain Ventures& AppleSeed Companies Inc. His vast experience is bound to play a key role in PlayFuel`s meteoric rise.

To summarise, 2021 is just around the corner and we have now glimpsed into the future of the cryptocurrency market, and the future is crypto-gaming.

 

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