The rise of cryptocurrency has thrown old-school financiers for a loop. Not many can understand the emerging digital trends in the trading market. But those who do realize that cryptocurrency’s rise might have a greater impact on our future than many people believe. Bitcoin’s success in the mainstream has led many to ask how it all works, leading many people to discover blockchains.
Blockchains are decentralized ledgers that crypto professionals use to store data regarding transactions and ownership. However, digital experts have noted that the technology is underutilized today. Many have pointed out that blockchains might be capable of supporting the internet as we know it. Game designers quickly saw a pretty exciting use for blockchains in game development. So, in this article, we discuss the crossroads between cryptocurrency and card games.
The most obvious link between cryptocurrency and card games comes from the various poker websites and online casinos that are now so popular on the World Wide Web. The iGaming industry is one of the fastest growing entertainment markets around. People are discovering the convenience of online gambling and sports betting, and many have no interest in looking back at land-based casinos.
Online poker rooms are especially popular in the United States. They provide an outlet for many interested in the game, especially with niche formats like Omaha Hi-Lo online gaining traction. It is nigh-impossible to find these poker variants outside of these specific websites. Plenty of online casinos also have live versions of blackjack and baccarat, two classic card games that still thrill an audience. But what do these websites have to do with cryptocurrency?
The connection is made apparent when one comes across the payment methods on these websites. Standard options like credit cards or bank transfers are available of course. But some may notice the increasing availability of Bitcoin or Ethereum as viable gambling options. Crypto betting has become successful enough to spawn websites dedicated to it entirely.
Could cryptocurrency and trading card games come together in the new age? The digital era is one of constant innovation in all walks of life, including entertainment. It is interesting to see how the TCG sector has handled the encroachment of cryptocurrency.
Game designers have been experimenting with blockchains for a while now. We’ve seen the release of open-world crypto games and blockchain-based platformers. Some have even attempted to create an MMORPG blockchain game; a bold endeavor that might change the face of the industry if successful. But there is no doubt that crypto trading card games stand out. It might be due to the simplicity of the TCG system or the general popularity of card games as a whole, but it is a fact that card games based around NFTs have some real utility.
Plenty of people may hear the term NFT and quickly balk at the idea. They would certainly have a good reason to react in such a manner. The non-fungible token market crashed and burned a long time ago, taking NFT games. But the one remaining fragment of that market is the trading card game. Some players still talk about Spells of Genesis; an MTG-inspired trading card game on a blockchain. Spells of Genesis was the first of its kind and led to many imitators trying to pull off what the game had done. Some were certainly more successful than others.
What about card games makes them blend so well with blockchains, though? It is the collectible nature of the games that works so well. By now people have an understanding of how NFTs work. Blockchain-based TCGs largely follow that same principle. Players must collect them and store the data on the ledger. That way, they have a proof-of-stake and can build their digital deck online. The fact that the games are also entirely digital means that players will never have to worry about the lack of local tournaments or players. The gamer base will always thrive no matter what.
That is as long as there are interested players. We said before that the NFT market is not doing well right now. Though NFT TCGs are still doing relatively well; they are nowhere near as popular as they were during their heyday. Interest in these games will likely vain in the future.
Some have a bright outlook on the future of the NFT-oriented TCG market. Whispers of Web 3.0 grow louder by the day. The idea of moving the World Wide Web towards blockchain ledgers certainly appeals to those who miss the old days of the internet, when anonymity was all but guaranteed. Non-fungible tokens are bound to make a comeback should Web 3.0 become the standard.
The trouble is that Web3.0 is still in its infancy. Even then, there are plenty of people who are staunchly opposed to this new way to engage with the net. Elon Musk and Jack Dorsey don’t agree on much. But they both believe that the Web3.0 fascination is a marketing gimmick more than a real proposal.
Also read: Crypto.com Breach Sparks Fresh Warnings: Why Best Wallet Beats Exchange Custody
